Aaron's Sales & Lease Ownership Franchise Review

Aaron's Sales & Lease Ownership Franchise Review

Customers who are looking for quality furniture, electronic goods and appliances can approach to the Aaron's Sales & Lease Ownership which not only offers the best quality products but is also perfect for those who are unwilling to purchase the same with cash or credit. It is an ideal shopping place where people can avail the facility of monthly lease payments for a particular item purchased. The payment structure is available on 12 months, 18 months or 24 months basis. There is no fixed time interval or any obligation for exchanging or returning the products.

Background Of Aaron's Sales & Lease Ownership Franchise

The founder of the above organization Mr. R. Charles Loudermilk Sr. introduced the business in the year 1955. The company started franchising from 1992 and has spread its wings all over the U.S. At the starting phase Charles used to rent chairs at 10 cents which he purchased from a store selling surplus goods used by the army. The company now leases items for a term of 12 to 18 months or rents them for days or weeks has desired by the customers. As per the records of 2009 the company has 520 franchise in U.S. and 20 in Canada.

Cost And Fees For Having The Franchise

As a franchiser the total investment cost to be incurred varies from $233,870 to $607,580. The ongoing royalty fee to be paid is 6% and that of the franchise fee may be in between $15,000 to $50,000. The Aaron's Sales offers a renewable agreement term of 10 years. Regarding the particular financing pattern on behalf of the company, it is absolutely same for both the in-house and the third party franchisers. There are no startup costs, inventory cost, and equipment or payroll costs. Also financing for the account receivable is absent for both types. However, for the third party a reliable source of financing is the Sun Trust Bank.

Essential Qualification And Operational Skill Required

Among the essential qualifications for setting up the franchise business the amount of net worth and cash liquidity are the vital ones. The amount of net worth should be $450,000 and that the cash liquidity has to be $300,000. Regarding the operational skills, the desired number of employees must be at least 6. Today almost 90% of the franchises run more than one unit.

Efficient Training And Support

The Aaron's Sales & Lease Ownership provides quality training and support in order to make the franchise business the most profitable one. It offers practical hands-on training for 3 days in the company headquarters and 30 days in the specific region where the franchise is located. Coming to the ongoing support, it includes facilities for grand openings, internet connections, toll free phone lines, frequent meetings, use of newsletters, idea on security and safety methods etc. On the other hand, need for regional advertising, using the national media and benefits of co-operative advertising are incorporated in the domain of marketing support. Beside this the NASCAR also provides typical support on marketing for the Aaron's Sales & Lease Ownership franchises.

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