When the first The Good Guys store (known at the time as Ian Muir’s Radio and Electrical Centre) opened in Melbourne’s northern suburbs in 1952 by the Muir family, the company’s philosophy was to delight customers and ‘do good’. Careful small acquisitions over the years provided the business with a strong foundation but it was re-naming to The Good Guys in 1998, supported by the unique selling proposition 'Pay Less Pay Cash' and the now iconic TV commercial and jingle, which prepared the company for national expansion. The Good Guys quickly became a household name, setting the standard for customer satisfaction and community giving, while continually evolving to meet ever-changing consumer needs.

In November 2016, JB Hi-Fi acquired The Good Guys, identifying the brand to be a strong strategic fit. Now united as JB Hi-Fi Limited, The Good Guys and JB Hi-Fi have created a new force in Australian retailing under the leadership of Group CEO, Terry Smart.