Buddy's Home Furnishings vs BoxDrop Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Buddy's Home Furnishings vs BoxDrop including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
Investment |
$385,166 - $912,594 | $17,750 - $68,821 |
Franchise Fee |
$25,000 | $2,500 |
Royalty Fee |
6% | - |
Advertising Fee |
$500/mo. | - |
Year Founded |
1965 | 2019 |
Year Franchised |
2007 | 2019 |
Term Of Agreement |
- | - |
Term Of Agreement |
- | - |
Renewal Fee |
- | - |
Business Experience Requirements |
Experience |
- | - |
Financing Options |
|
In-House/3rd Party | In-House/3rd Party |
Franchise Fees |
-/- | -/- |
Start-up Costs |
-/Yes | -/- |
Equipment |
-/Yes | -/- |
Inventory |
-/Yes | -/- |
Receivables |
-/- | -/- |
Payroll |
-/- | -/- |
Training & Support |
Training |
On-The-Job Training: 60+ hours
Classroom Training: Up to 42 hours
| - |
Support |
Purchasing Co-ops
Newsletter
Meetings/Conventions
Grand Opening
Online Support
Security/Safety Procedures
Field Operations
Site Selection
Franchisee Intranet Platform
| - |
Marketing |
Co-op Advertising
Ad Templates
Regional Advertising
Social media
SEO
Website development
Email marketing
Loyalty program/app
| - |
Operations |
- | - |
Expansion Plans |
US Expansion |
Yes | Yes |
Canada Expansion |
Yes | - |
International Expansion |
- | - |
Company Overviews
About Buddy's Home Furnishings
Buddy’s Home Furnishings is
the third largest Rent-To-Own (“RTO”) furniture, appliance, electronic
and computer provider in the United States. Buddy’s was founded in 1961
in Tampa, Florida and for the first 30 years of existence the Company
operated 21 stores in the Greater Tampa Area. Over the past five years,
Buddy’s has aggressively expanded its footprint by adding new
company-owned and franchised stores outside of its home area. As of July 1, 2015, 103 franchise, 54 company, and 45 partnership stores located
in the South, Southeastern and Southwestern regions of the U.S. The
Company plans to continue this rapid growth over the next several years
by opening new company-owned stores, acquiring independently operated
RTO stores and franchising stores.
The total investment necessary to begin operation of a Buddy’s Home Furnishings retail business is $385,166 to $912,594. This includes
$100,860 to $243,510 that must be paid to the franchisor or an
affiliate. If you enter into a Development Agreement, your investment to
begin operation of your first Buddy’s Home Furnishings retail business
will be as described above (minus the initial franchise fee for the
first Buddy’s Home Furnishings retail business that will be paid as part
of the development fee under the Development Agreement), and you will
pay the franchisor a development fee due in connection with signing the
Development Agreement. The development fee will be $25,000 for your
first Buddy’s Home Furnishings retail business to be developed under the
Development Agreement and 40% of the initial franchise fee for each
additional Buddy’s Home Furnishings retail business to be developed
under the Development Agreement. You must commit to develop a minimum of
two Buddy’s Home Furnishings retail businesses under the Development
Agreement.
Veteran Incentives 20% off franchise fee
About BoxDrop
BoxDrop has created a better and smarter way for you to buy mattresses
and furniture. Using our unique relationships with manufacturers and our
low-cost distribution system, we sell high-quality mattresses and
furniture at deep discounts in a way that traditional retail stores
can’t match.
The total investment necessary to begin operation of a new BoxDrop
franchised BoxDrop Store is between $30,951 to $68,821. This total
investment includes a minimum amount totaling $7,201 to $12,071 that
must be paid to the franchisor or an affiliate on before December 31,
2020 and a minimum of $9,701 to $ 12,071 that must be paid to the
franchisor or an affiliate after December 31, 2020.
The total investment necessary to begin operation of a converted BoxDrop
franchised BoxDrop Store is between $17,750 - $43,250. This total
investment includes a minimum amount totaling $0.00 that must be paid to
the franchisor or an affiliate.