What are you uniquely qualified for? What is it that makes your company significantly different from the competition? Why do you exist? Or, put more bluntly, if you disappeared tomorrow, would anybody (your customers included) give a damn? These are the tough questions every Rent to Own Professional should ask themselves.

Over the years, the RTO industry has evolved into a highly competitive, customer service oriented business. As our industry has evolved, so have customer expectations. What was "unique" 2 years ago, is common today. For example 

• No Credit Check
• Fast Delivery
• All Service Included
• No Long Term Obligation

While these are important factors in separating you from retail establishments, they are far from "unique" to the RTO industry. They do nothing to separate you from every other Rent to Own in the universe. If you tell a customer that you will deliver the next day, they will likely say "I'll let you know"... and then go down the street where delivery is "same day".

Make a List
Sit in a quiet room somewhere and make a list of every service your company offers. Then cross out every service offered by your competition. What you are left with are services that make you "unique". If you're left with nothing ... your in trouble, and your not alone. 

When making your list, save yourself some time and ink and don't include the obvious i.e. "we rent appliances, furniture, electronics". Also Don't include  "great location" in your list. We have all heard the expression that there are 3 critical factors to business success. Location... Location... Location. No one will argue with this basic business truism. However, if you can stand on the sidewalk in front of your store, throw a rock, and hit 3 Rent to Owns, your location is not "unique".

Taking such a hard look at your business is a very difficult thing. Your business is like your child. You started it, you nurtured it through those first critical years, and you're understandably proud of what you built. But will it last? Will you be around in 5 years? Are your customers renting from you because they have outstanding balances elsewhere, or because you offer better service than the competition? Will another Rent to Own open up down the street and split your customer base because you have nothing "unique" to offer? 

 If your competition is advertising

• No Credit Check
• Fast Free Delivery
• All Service Included
• Low Monthly Payments

You should advertise

• Instant Approval
• Guaranteed Delivery in 2 hours
• Free Extended Warranty
• Guaranteed Lowest Payment

Once you have decided what services to improve, TELL EVERYONE! Change all your advertising to reflect the "New You". Hang banners in your store pointing out how great you are. Scream it from the mountain tops if you have to, but get the word out. Your goal should be to convince every Rent to Own customer within 50 miles that "If they are not renting from you, they are wasting their money!" 

SUMMARY
Don't fall into the trap of "If it ain't broke, don't fix it". A better euphemism would be "If you've been doing it the same way for 5 years, you're doing it wrong". You must evolve. Change is not only a good thing, it is a necessary thing.