Aaron’s

Aaron’s is a national lease-to-own retailer that provides furniture, appliances, electronics, and home accessories to customers who want flexible paths to ownership rather than traditional credit. The company serves shoppers through its aarons.com e-commerce site and a broad network of company-operated and franchised stores, where customers select merchandise in person or online and complete lease-to-own agreements that fit their budgets. As of August 2024, Aaron’s operates roughly 1,300 locations across 47 U.S. states and Canada, giving it a presence in many primary, secondary, and smaller markets where value-focused households are looking for everyday home necessities.

The business began in 1955, when founder Charlie Loudermilk opened a small furniture rental operation in Atlanta, Georgia. That single store grew steadily over the following decades as rent-to-own became a practical option for working-class customers who lacked access to traditional financing. Aaron’s expanded across the Southeast and then nationally, building a brand that is now familiar in many local neighborhoods. A significant milestone came in 2020, when the lease-to-own retail business was separated from PROG Holdings in a spin-off, creating The Aaron’s Company, Inc., an independent public company based in Atlanta and focused on in-store and online lease-to-own retail. In October 2024, IQVentures completed its acquisition of The Aaron’s Company, taking the company private while keeping the Aaron’s brand and day-to-day operations in place under new ownership.

In the stores, Aaron’s presents itself as a neighborhood showroom for core home categories: living room, bedroom, dining, appliances, and consumer electronics. Assortments are tailored to local preferences, and the in-store experience is built around showing full-room setups and key appliance packages rather than just individual items. Customers can arrange for delivery and product setup, which keeps locations oriented toward convenient access, service-friendly parking, and practical loading arrangements. The chain typically occupies freestanding buildings, endcaps, and in-line spaces in strip and neighborhood centers, often near grocery, discount, and other value-driven tenants that draw frequent visits.

As of August 2024, Aaron’s reports about 1,300 locations, reflecting a mature but still active footprint. Over roughly the last five years, the brand has shifted from a primarily store-driven model to a more integrated omnichannel platform, investing in its website, digital tools, and technology that connects online browsing with in-store agreements and fulfillment. The company has focused on improving store productivity, refreshing existing units, and enhancing digital integration, rather than pursuing aggressive new-unit growth. That approach has included relocations within existing trade areas, selective infill stores, and support for franchise partners exploring new territories in markets where lease-to-own demand is strong.

For landlords, brokers, and developers, Aaron’s represents a long-standing, needs-based retailer with steady demand tied to replacement furniture, electronics, and appliances. The chain’s preference for second-generation retail boxes and neighborhood center formats keeps it active in leasing conversations across a wide range of trade areas, including secondary and tertiary markets that may not attract as many traditional big-box or premium soft-goods concepts. Its combination of corporate and franchised locations, established brand recognition, and ongoing efforts to optimize and refresh its roughly 1,300-unit footprint as of August 2024 create recurring opportunities for well-located mid-box and small-box space in working-class communities throughout the United States and Canada.