No Limitations on Expansion
Appliance Factory & Mattress Kingdom’s (AFO) founder and owner, Chuck Ewing has proven that limitations are just temporary and if you really want to do something, such as expand your business, with the right plan, it can happen. Chuck now owns sixteen locations, employs over 430 employees and is the nation’s 30th largest appliance and mattress retail. However, AFO formally known as A&A Quality Appliance wasn’t always a big company, it was actually quite the opposite. When Chuck was 25-years-old, with a passion for music, and an entrepreneurial spirit, he found a niche buying and selling appliances out of his garage. In 1986 he opened his first retail store on East Colfax in Denver, selling used appliances. By 1990, GE approached the company about becoming a distributor of scratch and dent merchandise. Chuck saw an opportunity to change the business focus and a new relationship with GE developed. “This new relationship eventually changed the business model of the company – forever”
Within 5 years of selling the scratch and dent machines, GE was so pleased at the success of A&A Quality Appliance’s that they offered them the opportunity to sell new GE appliances. In 1998, Chuck bought the building on East Evans and with the implementation of the “appliance sales model,” and within a year Chuck was able to increase sales by 150%. Chuck continued to expand his reach opening stores in Colorado Springs, Westminster, Fort Collins and additional Denver locations. By 2002 the company was renamed Appliance Factory Outlet.
In 2003 an opportunity for AFO to take over two Lefty Martin locations (as they were closing) opened up. AFO was able to retain many of the employees from this deal and reopened two newly branded AFO locations. Chuck is an opportunist when it comes to expanding his business. Preferred Lending Partners has been fortunate enough to help Chuck finance two of his facilities with the SBA 504 program. We are certainly proud of our borrower and appreciate our partnership with US Bank.