Inside Buddy’s Home Furnishings: The $1M+ Franchise with Mitchell Lee
Description
Episode 106: On this episode of Pursuit of Profit, Cliff talks with Mitchell Lee, senior director of franchise development at Buddy's Home Furnishings. Buddy's fills a void for credit challenged customers by providing access to home furnishings, electronics and appliances without the traditional barriers through a rent-to-own business model. It has built one of the most resilient businesses we have ever seen. The numbers behind this brand will surprise you. Take a listen...
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Timestamps:
00:00 - Intro
02:14 - Buddy's history
08:06 - # of franchisees
13:35 - Starting a Buddy's Franchise: real estate, marketing, etc.
19:15 - Buddy's business model
20:45 - Who's the Buddy's customer
25:56 - Profit on stores
29:15 - Tax benefits of rent-to-own
33:15 - How much inventory
36:35 - Labor model
40:00 - Item 7: what it costs to get into a Buddy's franchise
41:37 - Item 19
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Links:
Innovative Financing booklet - email cliffn@franocity.com
Watch the Pursuit of Profit on YouTube!
Connect with Cliff and Justin:
🌐 Website - https://franocity.com/
📷 Instagram - /franocity
👍 Facebook - /franocity
💼 LinkedIn - /cliffnonnenmacher
💼 LinkedIn - /justinguevara
* Consult with Cliff and Justin @Franocity
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Welcome to "Pursuit of Profit," the raw and unfiltered podcast where Cliff pulls no punches to guide aspiring entrepreneurs, business owners, and franchisees on their journey to create wealth, financial abundance, and ultimate personal growth. If you're seeking sugar-coated advice and constant reassurance, this podcast may not be for you. But if you crave unapologetic honesty and a dose of tough love, then you've come to the right place.
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