Leading lease-to-own retailer targets PI
By Kathy McCarty
Staff Writer
PRESQUE ISLE — Ben Green, Aaron’s, Inc.’s regional director – franchising, has announced Presque Isle is in the company’s plan for franchise growth in small markets throughout the U.S. and Canada.
“Presque Isle represents a tremendous business opportunity for someone in the local community to franchise an Aaron’s lease-to-own store,” said Green.
Aaron’s, Inc., a New York Stock Exchange listed company (AAN), excels in specialty retailing and the sales and lease ownership of name-brand residential furniture, home appliances, consumer electronics and computers, according to Green.
“At the end of the first quarter of 2011, Aaron’s reported 1,829 stores open across the U.S. and Canada, serving more than 1.4 million customers annually. Stores usually range from 6,000 to 10,000 square feet in size and tend to be located near retail power centers,” said Green.
Presque Isle’s status as a business hub and its proximity to Canada were reasons for its selection as a possible franchise location.
“Our strategy to target Presque Isle is based on our demographic research that shows a strong connection between its population and our loyal Aaron’s customers,” noted Green. “Presque Isle represents an added benefit to a potential franchise owner in that the market is the retail center for a large population of both U.S. and Canadian shoppers.”
Aaron’s customers typically make monthly or semi-monthly payments over a term of 12 to 24 months, with no credit checks and with no obligation beyond their next payment.
Green will be in the city next week to discuss plans for the company’s expansion locally.
“I will be in Presque Isle Aug. 1-3, meeting with community leaders, successful business owners and prospective franchisees. I’ll show them the potential of our business model. Our best targets for new stores are existing franchisees — 94 percent are multi-unit owners,” said Green.
Aaron’s already has several locations in Maine, including: Bangor, Belfast, Biddeford, Ellsworth, Lewiston, Oxford, Portland and Waterville.
“This is a win-win-win: We bring jobs and tax revenue to Presque Isle; we’ll put an enterprising individual in business; and we’ll continue our steady growth as one of America’s premier franchise opportunities,” Green said.
Prospective franchise owners, according to Green, must have a minimum net worth of $450,000 and an available line of credit of $300,000.
Aaron’s, Inc., headquartered in Atlanta, Ga., was founded in 1955 and began franchising in 1992. Aaron’s is ranked 26th on “Entrepreneur” magazine’s Franchise 500, as reported in the January 2011 issue, 46th among the Top 200 franchises by “Franchise Times” in the October 2010 edition and 12th by Dun & Bradstreet on its 2011 AllBusiness AllStar list.
For more information on Aaron’s franchise opportunity, call Green at 678-402-3778, e-mail ben.green@aarons.com or mail 309 East Paces Ferry Road, NE, Atlanta, GA 30305.
