Is there a way to factory reset?
What exactly is the issue you are trying to resolve with a factory reset?
You can download, unzip and reinstall the firmware or if a more complex problem exists with the songs, you can export your current project from the BeatBuddy Manager (BBM) to your SD card. If you need to revert to the 2.1 default content, you should be able to File - Open - Project and navigate to your bbworkspace folder and open it. If you have been modifying the default content and want to restore it, I suggest you search the forum for General Disaster Recovery and see if those steps help.
Maybe On the BB settings at the bottom
"Reset default "
Or like persist say !