Key Takeaways
- Bed Bath & Beyond went out of business in 2023 after 52 years.
- The company reopened its first new store after bankruptcy called “Home” in Nashville in August.
- Bed Bath & Beyond announced on Wednesday that it is launching a nationwide franchising program.
Over the summer, Marcus Lemonis, the executive chairman of Bed Bath & Beyond, helped launch the company’s first new store since shutting down in 2023. On social media, he teased more stores to come and crowdsourced where the next possible locations could be.
Now, the once-giant house of home goods has announced its future growth plans — through franchising. In a press release, Bed Bath & Beyond Inc., which also owns Overstock, buybuy BABY, and a blockchain asset portfolio, revealed that it is launching a national retail franchise system.
“Our goal is to grow Bed Bath and Beyond in the most capital-efficient manner,” Lemonis said in the release. “This system enables local owners to deliver personal service and local flavor while leveraging our national infrastructure, marketing, and technology.”
Related: Marcus Lemonis Became Famous for Fixing Businesses — Then Faced the One Problem He Couldn’t Ignore
According to the statement, the new model will focus on smaller stores that “feature turnkey formats of a traditional Bed Bath & Beyond, including Home, Kitchen Living, Storage & Organization, and Holiday Shoppe.” The stores will have a “neighborhood feel,” the statement says.
Franchisees will choose about 20% of the merchandise to “highlight regional products and designers,” while most of the store (80%) will be “curated” by Bed Bath & Beyond.
Meanwhile, BedBathandBeyond.com will serve as a “unifying in-store and online customer experience.”
In the statement, Lemonis added that franchisees will have a team of business, AI, legal, and financial experts behind them: “Together, they will provide franchisees with expert guidance, operational support, and oversight to ensure brand standards and execution remain consistent nationwide.”
Related: Forget Perfection — Marcus Lemonis Taught Me Why Being Real Wins in Business
In its prime, Bed Bath & Beyond had more than 1,500 locations. The company entered Chapter 11 proceedings in April 2023.
The company said final paperwork should be available within six months, per Retail Dive.
Key Takeaways
- Bed Bath & Beyond went out of business in 2023 after 52 years.
- The company reopened its first new store after bankruptcy called “Home” in Nashville in August.
- Bed Bath & Beyond announced on Wednesday that it is launching a nationwide franchising program.
Over the summer, Marcus Lemonis, the executive chairman of Bed Bath & Beyond, helped launch the company’s first new store since shutting down in 2023. On social media, he teased more stores to come and crowdsourced where the next possible locations could be.
Now, the once-giant house of home goods has announced its future growth plans — through franchising. In a press release, Bed Bath & Beyond Inc., which also owns Overstock, buybuy BABY, and a blockchain asset portfolio, revealed that it is launching a national retail franchise system.
“Our goal is to grow Bed Bath and Beyond in the most capital-efficient manner,” Lemonis said in the release. “This system enables local owners to deliver personal service and local flavor while leveraging our national infrastructure, marketing, and technology.”
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