m u lt i - u n i t FR A NCH I S I N G fe at u r e
snapshot: Buddy’s Home Furnishings
Buddy’s Home Furnishings Awards Eleven Storefronts in Virginia to Multi-Unit Operating Groups Buddy’s Home Furnishings will expand its Virginia footprint by eleven through multi-unit franchise agreements signed with WRE, LLC and Kappa Investments, LLC. WRE plans to convert six of their rent-to-own locations to Buddy’s storefronts, while Kappa Investments will add five additional locations, two of which are already open. “Our franchise model offers an attractive investment opportunity for existing franchise owners and new, entrepreneurialminded individuals looking to scale,” said Buddy’s CEO Michael Bennett. “The leadership behind WRE and Kappa Investments share our vision for growth, and we’re thrilled to expand our Virginia footprint alongside their dedicated teams.” Owned by Robert Smith and Ernie Thompson, WRE has operated in Virginia since 2002. After more than 16 years in the retail industry, the company began stepping into the rent-to-own space in 2018. “We both had backgrounds in the furniture and retail industries,” said Smith. “After we went into business together, we saw a real need for alternative financing options 34 Franchising MAGAZINE USA
in our community, which is how we were introduced to rent-to-own.” “In the past, balancing backend and operational issues along with merchandising has been a challenge,” said Thompson. “Thanks to the support of the team behind Buddy’s, we’ll now be freed up to focus more on our valued customers and supplying the community with everyday necessities.” The existing Virginia stores, previously known as Hometown Sales & Leasing, are located in South Hill, Blackstone, Ashland, Smithfield, Kilmarnock, and Farmville. The conversions will take place over the next six months. “This feels like a fresh start for us,” said WRE District Manager Bryan Caulder. “Buddy’s franchise model is the perfect combination of what we’ve been doing and what we’ve been missing. I’m excited to see how much better we can be together and the impact we will have on these communities in Virginia.” Earlier in March, Buddy’s awarded five Virginia stores to established multi-unit operator Kappa Investments. Led by owner Jerry Marshall, Kappa Investments has franchised with Buddy’s for the past five years.
When asked what inspired their expansion, Marshall stated, “It was the right time and right place. Our industry has gone through waves over the past few years, but we’ve found there is a long-term need for what we do. The team at Buddy’s has been right there with us the entire time, from handling the sourcing of products during the pandemic to answering the phone anytime we have questions.” Marshall and Kappa Investments have opened two new locations in Madison Heights and Bedford, Virginia, bringing their total store count to six. Additionally, three new franchised storefronts are planned for communities across the state which will expand their total footprint to nine stores. The rent-to-own retailer recently ranked in the prestigious Entrepreneur 2021 Franchise 500 for its outstanding performance in areas including unit growth, financial strength and stability, franchise support and overall brand power. Buddy’s was also listed in the Franchise Times’ 2021 Top 400 list. For more information or to inquire about franchising, visit www.OwnABuddys.com.
