Big Lots Franchise Cost, Profit & Opportunities

BIG LOTS Franchise Startup Cost, Profit & Opportunities

Does Big Lots franchise? The company was founded in 1957 by its owner Sol A. Shenk.

It offers retail products and operations ranging from clothing, furniture, food and beverage, housewares, and small electronics, all under varying brands.

With David J. Campisi as its CEO and chairman, Big Lots is a firm brand name that has stood the test of time and weathered the storms of the corporate business world, emerging strong and better.

Using Big Lots’ philosophy of business, franchisees are exposed to the secrets responsible for this brand’s profitability and success.

Headquartered in Columbus, Ohio, Big Lots has an operating income of $235.7 million (2016), a Net-Income of $142.87 million (2016), and total assets worth $1.64 billion (2016).

Do you know how much franchising a Big Lots costs? Regarding retail business, Big Lots is a force to reckon with in the United States.

They have close to 1400 stores located in 48 states of the country.

The Big Lots retail outlets are known to sell off their merchandise so quickly—one of the reasons why you might consider buying a Franchise with them.

Now the question is, How much is a Big Lots Franchise? Or better still, does Big Lots sell franchises?

Answers to these questions will be given in the course of the article.

PRODUCTS SOLD AT BIG LOTS STORES

You are guaranteed the best household products at a much-reduced price at Big Lots.

They sell a wide range of merchandise, from packaged foods, beverages, furniture, toys, snacks and foods, plastics, bedding materials, showers, housewares, and clothing to small electronics.

FRANCHISE INFORMATION ABOUT BIG LOTS

The company was founded in the year 1982. They started as Consolidated Stores Corporation and opened their first Odd Lots store in Columbus, Ohio.

As Consolidated Odd Lots stores began expansion from the origin location, which is Columbus, a company named Revco began to show concerns about the fact that another retail company operating a chain to become a national phenomenon, had a similar name as one of their subsidiaries, this resulted into a copyright brawl; It was agreed that Consolidated  Stores Corp should the usage of the Odd Lots brand name to stores that within a certain perimeter of Columbus.

Beyond the agreed areas of restriction, Consolidated started opening stores under the Big Lots name. In a very short time, the company changed all Odd Lots stores to Big Lots.

WHOLESALES AT BIG LOTS

In the past years, Big Lots operated a wholesale division where they offered items for sale in bulk price to allow retailers to make extra cash from purchasing these items. This was a separate unit of Big Lots, and they did not sell the same items you will likely see in any Big Lots retail store. They, however, close down the company’s wholesale division in the year 2103.

FRANCHISING BIG LOTS

As an entrepreneur, your sole aim could be to buy into the Big Lots Franchise, considering their success in the retail business and how they have sold off most of their stocks quickly.

This will surely tell on the company’s revenue as it is pretty apparent the company will be quite profitable in its dealings.

Now the question is, do Big Lots Sell Franchise? You might not be able to get any franchise opportunities will Big Lots at the moment as the company has not made any known intentions to start selling franchises to the public.

According to information on their website, they are poised to expand and maintain their standard service delivery in all their stores spread across the United States of America.

The only option the Big Lots Franchise offers is the opportunity to work with them.

If you want to gain a first-hand experience with Bog Lots, then you are expected to apply to the company in person and then fill out an application form, which will allow you to be considered to work as a general retail worker.

This experience might come in handy for you when the Company decides to start selling its Big Lots Franchise.

Your employment status at the company will get you grounded in the process and procedures of running a retail business and the opportunity to learn from a world-class retail outlet like Big Lots.

And in the nearest future, you have the opportunity to grow up the employment ladder.

Maybe this might be the exposure you need to establish your own business, as it is a common experience to see managers of significant businesses go further and establish their own business and then serve as a significant competitor for their former employer.

WHAT IS THE BIG LOTS FRANCHISE FEE?

Since it is not established that Big Lots offer any form of Franchise, we cannot ascertain if there is any form of Fee for Big Lots Franchise.

However, there are various other franchise opportunities that you can tap from. If you are to consider any other franchise from a reputable company, you should be prepared for a Franchise fee of $10,000 to $30,000.

You should also note that most other franchisors will charge you extra fees after your application with them has been approved.

You will be expected to make an annual franchise royalty and advertisement fees. As is in the case of some other franchises, you will be expected to make a yearly renewal payment of the initial franchise fee.

Although this is usually a minute percentage of the actual franchise fee.