Franchise Frequently Asked Questions
- Q. Why should I consider franchising rather than going into business for myself?
A. The role of Franchising in the overall U.S. economy is astonishing. According to recent estimates, franchising accounted for $1.5 trillion in annual U.S. retail sales from over 760,000 franchised small businesses in 75 industries. Further studies indicate that franchising accounts for more than 40 percent of all U.S. retail sales. Franchising employs more than 9 million people and a new franchise outlet opens somewhere in the U.S. every 8 minutes. If that weren't impressive enough, estimates also indicate that approximately one out of every 12 retail business establishments is a franchised business.
Consider the alternatives: over 67% of independent start-up businesses fail within the first three years, with 38% failing in the first year alone. However, over 90% of franchises remain in business after five years as opposed to only 23% of independent businesses. These statistics alone show why franchising is the optimum choice for any serious investor.
So what drives the success of franchising? A proven concept, brand recognition coupled with a superior product or service that ensures a customer's ultimate satisfaction. Both you and Aaron's benefit from your success, so we do everything in our power to help you realize the full potential of an Aaron's franchise as quickly as possible.
- Q. Aaron's franchise stores provide what products, and how does the customer pay for them?
A. Aaron's stores provide high-quality, name-brand furniture, electronics, appliances and computer products and services primarily to customers who do not choose to, or cannot, purchase them with cash or credit. Customers make monthly lease payments. Customers can return products at any time without obligation or they can make continuous monthly payments for the lease term, ranging from 6 to 24 months, after which time they will own the products. Customers may also purchase the product in the first 120 days at the retail price, applying all monies paid to date.
- Q. Does Aaron's offer quality brands?
A. Yes, of course. We only stock top name brands like Dell, Philips, GE, XBOX, Maytag, JVC, Frigidaire, Sony, HP, Compaq, and our own Woodhaven signature brand furniture.
- Q. What is a Franchise?
A. Generally speaking, a Franchise is an independently managed retail store that has central management under one brand. Learn more about how our franchise opportunities work.
- Q. How long has Aaron's been franchising?
A. Aaron's was founded in 1955 and began franchising in 1992. Learn more about our history.
- Q. Does Aaron's operate stores as well as franchise?
A. Yes, there are more than 2,000 Aaron's stores throughout North America. More than 50% are corporately operated.
- Q. How many sq. feet is the typical store?
A. 6,000 - 8,000 sq. feet.
- Q. Where are the stores located?
A. In strip centers and stand-alone buildings near major shopping in small, medium and large population markets throughout the U.S. and Canada.
- Q. How many stores may I open?
A. The average Aaron's franchise owner is approved for 4 to 6 stores. Your net worth and liquidity will determine how many stores you can open.
- Q. Does Aaron's offer financing?
A. Aaron's assists in obtaining inventory financing.
- Q. Do I have to work in the store full time?
A. After proper training and a complete understanding of the business, the day-to-day in-store activities are usually handled by a General Manager.
- Q. Does Aaron's provide detailed financials of stores?
A. Yes, you will be presented with an "earnings claim" when you attend our Discovery Day at our corporate offices in Atlanta, Georgia. Our Item 19, which is included in our Franchise Disclosure Document, details the revenues and expenses of our company operated stores.
- Q. How do I find out more?
A. Attend Discovery Day! Check for dates on the Discovery Day page.