| January |
New York Democrat and PIRG Hero Maloney To
Chair House Subcommittee on Financial Institutions and Consumer
Credit
Maloney is one of only 42 members of Congress awarded the title "PIRG Hero"
for her 100% rating on PIRG's (Public Interest Research Group) annual
Congressional Scorecard in 2006...more |
Fed Issues Guidelines Encouraging Banks To Compete For Payday Loan Business
The fed is encouraging banks to offer loans to the "underbanked market" as
"one important part of a profitable, long-term, multiple account
relationship for these individuals...more |
Text of Proposed New York Rental Purchase Legislation; Links to New York
Legislators
Complete text of New York Assembly Bill 66, introduced by Audrey I. Pheffer, Michael N. Gianaris, Jeffrion L. Aubry
and Felix Ortiz. The bill is cosponsored by Cahill, Glick, Hikind, Mayersohn,
Peoples, Towns and Weinstein. The proposed legislation amends New York's
personal property law...more |
SED
International Announces Master Distribution Agreement With Microsoft
"This new agreement is also a strong validation of our business model which
is focused on providing high levels of service to reseller and vendor
partners of all sizes." - Jeanie Diamond, CEO and Chairman of the Board, SED
International...more |
Texas
Rental Dealers Ready For 2007 Legislative Conference; Property Tax Exemption
for Rental Inventory Primary Focus
"TARA continues to focus on passing a Constitutional amendment concerning
property tax on rental inventory." - Vicky Hale, Executive Director, TARA...more |
Rich Bagoly and
Dave Jones Named Premier Rental Purchase 2006 Dealers of the Year; 12th
Annual Convention Wraps; Nine Podcast
Interviews With Premier Dealers
Rich Bagoly and Dave Jones, co-owners of the
Rich and Dave Rentals, dba Premier Rental Purchase, were named
Premier Dealers of the Year for 2006. The pair were honored at Wednesday's
Awards Banquet in Miami, Florida...more |
Rent to Own Renaissance Men; Podcast Interview With Four "New Breed" ColorTyme
Franchisees; Cort Hill, Mark Martin, Louis Garcia and Scott
Brown
This is ColorTyme Franchisee Cort Hill's first convention as an
owner after successfully opening his first store in Elkton, Maryland
just 8 weeks ago...more |
Editorial - By Roy Griffaw, Publisher, RTO Online
Payday Loan Association Sets Dangerous
Precedent By Attacking Own Industry
Most
disturbingly, the association also strongly
implied that any company that has chosen not to join the
association has done so because of a purposeful intent to “prey”
upon consumers...more |
Texas Democrat Harold Dutton Introduces Rent to Own Price Cap
Texas State Representative Harold Dutton Jr. (D) has introduced House Bill
909, RTO industry killer legislation that would cap the total amount to be
paid by a consumer under a rental-purchase agreement at 15% above the cash
price....more |
It Begins; New York City Councilmen Lay Groundwork For Schumer's Anti RTO
Legislation
The "study" referenced by the councilmen is the same fiction first cited in
2006 by Senator Charles Schumer (D-NY) just prior to his introduction of the
Rent to Own Protection Act...more |
| February |
The History Of Black History Month
We owe the celebration of Black History Month to Dr. Carter G. Woodson. Born
to parents who were former slaves, he worked in the Kentucky coal mines as a
child and enrolled in high school at age twenty...more |
Texas Rental Dealers Wrap Legislative Conference;
Report Solid Start To 80th Session
As a small businessman in Texas, I have to pass on the property tax cost to
my customers. By eliminating the tax
on leased merchandise, I can continue driving down rates for
consumers. - Lyle Digby, Aaron's Sales and Lease Ownership Franchisee,
Texas...more |
Mike Thompson Named Rent One Manager of the Year; BDI Laguna takes vendor of
the year; Podcast Interviews With Thompson And Six More Rent One RTO Pros
Mike Thompson was named Rent One Store Manager of the Year for
2006 Wednesday at the company's annual awards dinner in St.
Louis, Missouri.
Mike has managed the Sparta, Illinois Rent One store for three
years. Rent One also named Kelly McClellan, National Accounts manager for BDI Laguna, Rent One Vendor of the
Year. See a
complete photo gallery and podcasts...more |
Rentcash Gets
Offer For Rent to Own Division
An as yet unnamed company has made an offer to acquire Insta-rent, the Rent
to Own division of Canadian operator Rentcash...more |
Texas State Senator Carona Introduces TARA Supported
Constitutional Amendment
Rent to Own companies in Texas currently pay property
tax on idle inventory as well as on leased merchandise
in customer's homes...more |
Rent-to-own
Pro Dean Engels Turns 20 Years Of Community
Relationships Into A Successful ColorTyme Store
"The RTO business is different. It's not like being a
banker or an accountant; every day is different and
brings another opportunity to help people. I enjoy
developing relationships with people. Though I had no
idea what it would be like to be a franchisee, the job
is easy because I enjoy what I do. I should have done
this 10 years ago." - Dean Engels, ColorTyme Franchisee...more |
RTO Online Is Celebrating
a Decade of Service to the Rent to Own Industry
RTO Online allows vendors from all categories, regardless of
association or group affiliation, to present their companies and products
to over 80,000
professionals per week from the Rent to Own and Retail sectors....more |
RentDirect-Nationwide PrimeTime! Trade Show
Opens; RTO Online Provides Exclusive Video Coverage From the
Show Floor
RTO
Online conducted nearly a dozen video interviews with leading rental
vendors and dealers, including a conversation with Tony Battaglia from Blue Ribbon Rentals. Battaglia,
a twenty-plus year veteran of the rental industry is a strong believer in
the importance of participating in buying groups...more
|
Suspects In
Custody For String of 30 Smash & Grab Burglaries At Tucson Rent to Own
Stores
By January of 2007, Tucson detectives were investigating over 30 smash and
grabs at rent to own stores around the city. Police say more than
$100,000 of merchandise was stolen in the string of robberies....more |
| March |
Former Rent A Center CEO Bud Gates
To Franchise easyhome Rent to Own Concept In United
States
"The agreement grants Bud Gates exclusive rights to
franchise the easyhome concept anywhere in the United
States, outside the border states." - David Ingram, CEO,
easyhome...more |
Kelly Sayre Recognized For 25 Years Of Service To Rent
to Own Industry
Sayre is one of the RTO industry's most seasoned players. He
opened Big Value Rentals in 1982 and, after a quarter
century, remains excited about the future...more |
Civil Rights Group Says Banning Payday Loans Harms
Country
"CORE believes that the out-right prohibition of
short-term loans could have a negative effect on our
country similar to that of prohibition in the 1920's,
which was a miserable failure." - Niger Innis, National
Spokesperson for the Congress of Racial Equality...more |
convention
coverage - streaming audio
Podcast Interviews With easyhome CEO David Ingram,
Master Franchisee Bud Gates, VP Dave Maries, Divisional
VP Simon Holmes, Regional Manager Errol Penny
"We're not
going (to the United States) to just join the industry. We're
going there to compete fairly and to try to win." - David Ingram,
President/CEO, Canadian-based easyhome on his company's
just-announced U.S. expansion program...more |
convention
coverage - streaming audio - 303 photos
easyhome Wraps 2007 Conference; Sheri Reid Named Store
Manager of the Year; Podcast Interview With Keynote
Speaker Jack Black
Sheri Reid was named easyhome's Store Manager Of the
Year for 2006. Reid was rewarded for her efforts when
CEO David Ingram presented her with a new cherry red
Hummer...more |
TruckSkin To Re-Brand Rent-A-Center Fleet; 1,100
Vehicles in 34 States
"There are approximately 600 delivery cube trucks and
500 vans in the process of being re-branded." - Joe
Lapekas, owner, TruckSkin...more |
UK Rent to Own Company 'Buy As You View' Doubles Profit
In Two Years; Ranked In Top 50 Private Equity Companies
"This success would not have been possible without our
dedicated workforce; they have developed with us as the
company has grown. We recognize that a happy, stable
working environment breeds success." - Gillian Wilmot,
Chief Executive, Buy As You View...more |
RTO Magazine Publishes List of the Best
Consumer Electronics for the Rental Industry; Toshiba Satellite
Notebook Computer, Flat Panel Televisions Top the 1st Annual
List
The list was
compiled by RTO Magazine editors with the help of four leading
rental-purchase industry suppliers: SED International, O'Rourke
Sales Company, D & H Distributing, and BDI Laguna...more
|
John Natale Named easyhome Vice President Of U.S. Operations
"I have known
John since 1995 when he was responsible for my orientation into
the rent-to-own industry in the U.S. His proven successful track
record as a senior manager in the rent-to-own industry in the
U.S. represents an important step forward in strengthening our
Management team." - David Ingram, President and CEO, easyhome...more
|
RTO Excellence Profile; Rick Vadnais Grows His Rent to
Own Business Despite New York Winters
"At the start, I wanted to have some merchandise that
would allow me to have the lowest price point so I
filled about 10% of my inventory with low-end furniture,
electronics and appliances. I quickly found out that
stocking merchandise of that kind only leads to service
issues. I've been doing this 20 years but I am still
learning." - Rick Vadnais, Owner, Premier RTO, Syracuse,
New York....more |
Louisiana Rental Dealers Wrap 2007 Meeting; Podcast
Interviews With Louisiana Rental Dealers Courtney
Engeran, owner, National Home Furnishings; Jean Poulin,
owner, Express Rental Purchase; Lisa Neyhart, owner,
ColorTyme; John Gains, store manager, ColorTyme
"I look forward to serving as president of LRDA. I want
everyone here to commit to doubling membership by 2008."
- Jeff White, President, Louisiana Rental Dealers
Association...more |
Bryce Company Jewelry Expands Rent to Own Industry
Presence; Appoints Vet Cary McPherson National Sales
Director for RTO
"I'm thrilled to be in a position to improve the profits
of RTO companies by introducing Bryce Company's live
jewelry program and buyback guarantee to the entire
industry." - Cary McPherson, National Sales Director for
RTO, Bryce Company...more
|
convention
coverage - photo galleries - podcasts
Vendors Report Buying Increased
Over 2005 TARA Southwest Buying Show; Podcast Interview With
TARA President Dan Mathews
Vendors were especially happy with the number of new
companies attending. Rent to Own companies from as far
away as New Mexico attended the show...more |
| April |
Podcast Interview With Ken Butler, President, Aaron's
Sales and Lease Ownership
Aaron's is opening on average one new store per day.
Even at that pace, Butler sees only opportunities for
more growth. He does not believe the
rent-to-own/lease-purchase industry has even approached
market saturation...more |
Joshua Edwards
Wins Aaron's PT Rodeo; Named Best
of the Best In Aaron's System; Company Announces Expanded
Commitment To Victory Junction
Joshua Edwards, Product Technician at the Cartersville, Georgia
Aaron's Sales and Lease Ownership location, took the grand prize
in Friday's PT Rodeo finals. Edwards came out on top of a
company-wide field of over 3,000 Product Techs. See a complete
photo gallery of Friday's PT
Rodeo (112) and other events including the Speed
Channel Show (20),
Victory
Junction Press Conference (9) and shots from the Pits (19)...more |
easyhome Launches New Staging,
Events and Props Division for Furniture and Accessory Rentals
A distribution centre has been established in the greater
Toronto area, specifically designed to support this initiative
with dedicated inventory and staff....more |
Mizati to Open Wheel And Tire
Rental Chain
"We started our research and planning on this relatively
a year ago when we observed that a portion of the
customers borrowed into credit card or other form of
financing." - Grace Wang, Mizati spokeswoman...more |
Aaron's Sales and Lease Ownership Wraps Conference;
Emmitt Smith Keynotes
The manager
of the store is the key to success in this business. Without you, this success would never ever have happened. My
hat is off to every single one of you." - Robin Loudermilk, Chief Operating Officer,
Aaron Rents...more |
Cole Flynn, Kevin Wood Named Aaron's Managers of
the Year
Aaron's Sales and Lease Ownership
awards Store of the Year in both the Franchise and Company
systems. Farmington, New Mexico General Manager Kevin Wood was
awarded Aaron's 2006 Store of the Year for the franchise system.
Cole Flynn, GM of the Fort Meyers, Florida Aaron's, took top
honors for company owned stores. The pair were presented with
2007 Hummer H3s at Wednesday's Denim and Diamonds Awards banquet
at the Gaylord Texan Resort in Grapevine, Texas...more |
Politics
On the Web; Younger Audiences Prefer Barack Obama, The
Money Prefers Hillary
Both campaign sites attract visitors from higher-income
households, but the wealthiest households – those with
at least $100,000 in annual income – were 57 percent
more likely than average to visit HillaryClinton.com...more |
Missouri Rental Dealers To Celebrate 20th Anniversary At
Heartland Of America RTO Tradeshow
The Heartland Show offers attendees an opening-day
choice between the group's annual golf tournament or
Bass tournament...more |
Whirlpool Expects Industry-Wide US Appliance Shipments
To Drop 2% In 2007
According to Whirlpool, industry-wide unit shipments of
major appliances declined 9.5 percent during the first
quarter...more |
Nationwide
Club Administrators Partners With RentDirect Nationwide
"We look forward to working with RentDirect and their
dealer members. Through our partnership, dealers will
have access to creative and flexible programs and the
customer will get benefits they want." - Alan Stein,
President, Nationwide Club Administrators...more |
Gentlemen Start Your Marketing; Aaron's Wraps Successful
Talladega Dream Weekend
NASCAR has turned sports-marketing into an art form and
Aaron's has embraced the NASCAR demographic with
enthusiastic open arms...more |
Canadian Payday Loan Operators Warn Against Monopoly; Provincial
Association Demands Hearing
Rate-setting measures must not give competitive
advantage to one company over another. If regulators get
it wrong, they will limit competition and restrict
options for consumers." - Gordon J. Reykdal, Chairman,
President and CEO, RentCash...more |
| May |
Former Rent-A-Center District Managers Open First Of
Five ColorTyme Locations
Routh and Dami,
former Rent-A-Center (RAC) district managers, bring more than 26
years combined experience in rent-to-own to their franchise...more |
Special
Rent to Own Industry Franchise Issue of RTO Magazine
Franchisees exist in a world half in, and half out of
the box. They combine the talent and drive of the
entrepreneur, with financing and time tested procedures
that produce results. In addition to company profiles,
the May issue profiles 20 successful franchisees
currently operating in the Rent to Own/leasing sector
including an in-depth feature on Bud Gates, former CEO
of Rent-A-Center, currently the U.S. master franchisor
for easyhome, Canada's largest home-goods rent to own
company...more |
Plan of Action: ColorTyme Franchisees Scott Brown and
Louis Garcia Map Future
To achieve lasting relationships, Scott Brown and Louis
Garcia combined their 30+ years of RTO experience and
created their own sales system that tracks a list of
about 2,000 potential customers for their four Baltimore
and Washington, D.C. area ColorTyme stores...more |
Well-known RTO Dealer Fred Pearson Finds Success Renting
Automobiles Instead of Appliances
As many as 80% of car shoppers have credit too poor to
lease or purchase vehicles through traditional means,
giving the concept of RTO automobiles a jump start...more |
Barney
Frank, John Dingell Call For Federal Regulation Of Payday
Lending And Other Financial Services
"We are
concerned that recent developments are leaving American
consumers vulnerable in the financial services marketplace, and
seek your cooperation in strengthening federal-level consumer
protections and enforcement." - Reps Barney Frank (D-MA) and John Dingell (D-MI)...more |
Lawsuits Drain Economy, Alter Business Decisions;
U.S. Chamber: 'Broken Lawsuit System' Hurts Small Businesses
"Although some liability costs represent legitimate compensation
for damages sustained, these studies leave no question that
small businesses pay an extremely high price for the excesses of
our lawsuit system-money that the business owners could use to
expand operations, develop new products, hire additional
employees and grow the American economy." - Lisa Rickard,
President, U.S. Chamber Institute for Legal Reform...more |
RentDirect Nationwide Helps Members Say Goodbye to
Competitors Ads with MemberNet TV
RentDirect/Nationwide provides a wide array of high
quality demonstration programming, event graphics, and
generic ad materials in addition to its library of
“Better than Film” HD commercials that can be customized
for RentDirect Members. The generic materials and HD
programming are free....more |
Premier Kicks Off Annual Business Meeting In Cincinnati
All four Premier companies are represented at this
year's business meeting – Premier Rental Purchase,
Premier Home Furnishings, Premier Wheel Rentals and
UGetcha Cash, Premier's financial services division...more |
RTO Pro Software Surpasses 700 User Locations
RTO Pro, a leading point of sale (POS) software package
for Rent to Own industry, has surpassed 700 user
locations. No newcomer to the industry, FutureWare
Enterprises, makers of RTO Pro software, began
developing rental software in 1994...more |
ColorTyme Franchisees Tell Story Of Commitment, Growth
ColorTyme franchisees have access to 100 percent
inventory financing through Wells Fargo Foothill or
Texas Capitol Bank. It's the backing independent dealers
need to take business to the next level with higher-end
inventory to attract customers. That same financial
backing is available for new stores as well...more |
Retail Giant Goes Smaller To Get Bigger; Aaron's Reaches Out To Franchisees In Smaller Markets
Aaron's will continue to open new franchise locations in
traditional urban markets, but by expanding into smaller
towns and in rural areas, the company will increase its
penetration in growing and underserved markets...more |
Golden Gates; RTO Magazine Profiles Rent to Own Industry
Icon Bud Gates
In a career that spans nearly forty years, Bud Gates has
had the chance to pretty much be anything he wanted.
From an early start as a popular math teacher in the
town of Weston, Massachusetts before paying his way
through the storied Harvard MBA program, Gates has
embarked on a one-way road to success...more |
Schumer To Introduce Rent to Own
Legislation
In 2006, Schumer introduced Senate Bill 1012, the Rent
to Own Reform Act of 2006 which claims that rent to own
transactions are retail credit sales and therefore
subject to interest rate caps...more |
Aaron Sales and Lease Ownership Partners with Bill
Elliott Racing
"Aaron's partnership with the Bill Elliott Racing Driver
Development Program will be a great addition to our
involvement in sports marketing." - Robin Loudermilk,
COO, Aaron Rents Inc...more |
Rubbin Is Racin; Ken Butler III Takes First ARCA Win
After Controversial Bump
Butler, son of Aaron's Sales and Lease Ownership
president Ken Butler, won his first ARCA event Sunday at
Toledo Speedway...more |
| June |
easyhome Store Of The Future Opens In New York; Hundreds
Wait In Line for Hours; Company To Open Up Border States
To Franchisees
"We wanted to make a statement that easyhome has
arrived. I think we accomplished that." - Dave Maries,
Vice President of Marketing and Advertising, easyhome,
Inc...more
|
The Premier
Rental Purchase Philosophy
"At Premier, we have our 80-20 rule. With almost any of
our support services, up to 20% of our dealers will
choose to do something different because they believe
they can do it better." - Trooper Earle, CEO Premier
Companies...more |
Rent One's Trent Agin Wins Heartland RTO Bass Tournament
Trent Agin, Vice President of Business Systems for the
Midwest's largest rent-to-own chain - Rent One -, took
the prize for biggest fish in Tuesday's Buddy Bass
Tournament at the 2007 Heartland of America RTO
Tradeshow in Lake Ozark, Missouri. The event is
organized by
Missouri Rental Dealers Association (MRDA)...more
|
BC Government Halts Proposed payday Loan Legislation;
Rentcash Applauds Move
"The bottom line is that B.C.'s legislation does not
strike a proper balance between consumer protection and
fostering a competitive lending environment. In fact,
the Bill as presently drafted is bad for consumers, as
it will restrict the range of product offerings
available to them." - Gordon J. Reykdal, Chairman and
CEO, Rentcash...more |
Aaron's Franchisee Sayre Expands In Texas; Acquires Two
Easy Rent Locations
"I expect these stores to integrate easily and perform
well on the Aaron's model" - Kelly Sayre, Aaron's Sales
and Lease Ownership Franchisee...more
|
Baseline Assists in Scoring New Customers
After racking up a year and a half of successful sales
history, Brown Councill of Baseline Licensing Group says
his company is prepared to take the concept of sports
home lifestyle furniture to the next level...more |
ColorTyme Conventioneers Attend Night Game At Great
American Ballpark; Cruise The Ohio; New Photo Galleries
Friday was a day to relax for
ColorTyme franchisees midway through the 2007 ColorTyme National
Convention in Cincinnati, Ohio - A golf tournament in the
morning, a riverboat cruise in the afternoon and a Reds versus
Cardinals night game at Great American Ballpark...more |
Ken Schimpf Named ColorTyme franchisee of the Year
Ken Schimpf was named ColorTyme Franchisee of the Year
for 2006. Schimpf was awarded the company's prestigious
Eagle Award Thursday at ColorTyme's 2007 National
Convention in Cincinnati, Ohio...more |
Apple iPhone to Grab 10 Percent Smartphone Share By End
of 2007
Some experts predict the Apple iPhone sales will account
for 2 million of a total 20 million smartphones sold
this year...more |
Sony Goes NASCAR; Dale Earnhardt Junior To Be New
Pitchman; Says Earnhardt "It's Cool"
Sony has signed a personal endorsement deal with NASCAR
NEXTEL Cup Driver Dale Earnhardt Jr. of Jr Motorsports
to participate in the company's marketing efforts...more |
Direct Comparison Of Rental Purchase Agreement
Act and Rent to Own Reform Act
Scroll to various sections to directly compare the
Consumer Rental Purchase Agreement Act of 2007 (left)
and the Rent To Own Reform Act of 2007...more |
Podcast; Interviews With Past Missouri Rental Dealers
Association Presidents
There have been six MRDA presidents since the group was
chartered in 1987 - John Thompson, Gary Romine, John
Cleek Sr., Dan Cole, Chuck Kuluva and current President
John Cleek Jr...more |
Heartland Regional RTO tradeshow Kicks Off
Tonight With Vendor Showcase
MRDA has put forth significant effort in recent years to
increase attendance at the tradeshow, including inviting
rental dealers from all surrounding states...more |
Editorial: How Microsoft's Surface Computing Will Change The Rent to Own and
Leasing Industry
The potential of surface-computing to improve, not only
the customer experience, but also the efficiency of Rent to Own store operations
is phenomenal. Here are just a few ways Surface Computing will change the look
of RTO in the near future...more |
Premier
Home Furnishings; Balancing the Rent to Own and Retail
Worlds
"Above all, what has distinguished my vision of home
furnishings is its allure to a very diverse clientele,
and with that has come the need for different kinds of
relationships with my customers than is traditionally
found in RTO or retail." - Jim Schebler, President Premier
Home Furnishings...more |
RTO Online Wraps Up
Successful Franchise Week 2007
"Website traffic and magazine readership both far
exceeded expectations.
Visitor traffic increased throughout Franchise Week, ending with
nearly 20,000 user sessions Friday (June 8, 2007)." - Roy
Griffaw, President, RTO Online, Inc...more |
Easyhome Honored For "A New Way To Look At
Buying" Ad Campaign
Easyhome took the Retail Marketing/Advertising Award in the
mid-size category. The award is presented to a retailer that has
developed a creative and successful marketing campaign by
integrating two or
more tactics...more |
| July |
American Rental Wraps 2007 Trade Expo; Podcast
Interviews With CTO Raouf Bishay and Buyer Donna Hinshaw
There was a bit of unexpected excitement when hundreds
of fireworks that were being set up for the evening's
grand finale were accidentally ignited. The resulting
explosion and fire thankfully resulted in no injuries,
but did provide the best daylight fireworks display in
Indiana history...more |
Not Your Daddy's PC; Today's Computers Are
Legitimate Entertainment Devices
"Everywhere we turn we see signs of how technology is
changing the way media is consumed, and at its core, I
think this is really about consumers' desire to have
more choice and more control of their media experience."
- Kevin Conroy, Executive VP, AOL Products...more |
Three Quarters Of Small Business Owners Say High Gas
Prices Hurting Business
74 percent of small business owners polled by the
National Association of the Self Employed (NASE) said
that high gas prices were either significantly or
moderately hurting their business, up from 67 percent in
2005...more |
ColorTyme's Neyhart Forms Partnership With New
Yorker; Additional Stores Planned
"I wouldn't be a ColorTyme franchisee today if someone
hadn't helped me out. At the end of the day you want to
be able to look back and say that you’ve helped someone
too." - Tom Neyhart, ColorTyme Franchisee...more |
dPi
Teleconnect Acquires Vertex Communications; Largest Acquisition
to Date
"Vertex is
our fourth acquisition this year, and it represents our largest
overall acquisition to date. We are particularly excited about
the potential for growth that this acquisition represents." - David Dorwart, President and CEO, dPi...more |
Blu-ray or HD?, Consumers Still Confused; Blu-ray Gains
Slight Lead In Sales Forecast
Recent retail developments, support from major Hollywood
studios, and inclusion of the format in the PlayStation
3 puts the Blu-ray format in the lead...more |
Update: Mizati Holds Ribbon Cutting At First Company
Rent to Own Wheel Store
Mizati Luxury Alloy Wheels held the
grand opening of its first rent-to-own store Saturday in Upland,
California. Company officials were joined by local business
leaders and Upland City Council member Ray Musser...more |
Rent-A-Center Reports Same Store Sales Up 2.7%;
Warns For Q3 and 4
"..the business environment has been very challenging as
of late. We believe that the financial challenges facing
our customers have increased recently, resulting in a
softer outlook for the balance of this year." - Mark Speese, CEO, Rent-A-Center...more
|
Former Blue-Dog Representative Ralph Hall
Cosponsors Rental Purchase Agreement Act
Texas Representative Ralph Hall (R), has cosponsored the
Consumer Rental Purchase Agreement Act of 2007 (H.R. 1767).
Hall, a 14 term Representative and the oldest serving member of
the U.S. House of Representatives, is a former Democrat who
switched parties in 2004...more |
Court Orders
Advance America To Close Doors In Pennsylvania; Advance To
Appeal
Advance America commented on what it called an "unfavorable ruling
" that was issued by the Commonwealth Court of
Pennsylvania directing Advance America's subsidiary in
Pennsylvania to immediately suspend its current
operations and discontinue its "Choice Line of Credit"
in the state...more |
| August |
New York
Legislature Galvanizes Rental Dealers; Legislative
Conference Set For January
Since Elliot Spitzer took the Governors office, the New York
press has focused heavily on consumer issues. There has been little official
industry opposition to distortions by the press, who
rely solely on the far left views of consumer advocacy groups
for information. The Buffalo News ran an
editorial Sunday entitled -
Albany Snubs The Poor; Failure to address systemic abuses leaves
needy New Yorkers exposed...more |
RentDirect
Wraps; Dealers , Vendors Proclaim Show "Best Yet"; 9 New
Podcasts From Show Floor
RentDirect Nationwide wrapped a
successful four-day event at The Venetian Hotel in Las Vegas
with a trade show that broke all previous records for
attendance...more |
Interview With Peter Krideras,
National Marketing & Merchandise Manager for Radio
Rentals of New South Wales, Australia.
From collecting on a fortnight to double-checking a
customer’s scorecard, they might say things a bit
differently in his part of the world. But with Radio
Rentals’ stores averaging 3,000 units on rent per
location, it’s lingo we could all do well to learn...more |
easyhome Raises Over $50,000 During 2007 Backpack
Challenge; Employees Summit Mount Kilimanjaro To Support
Fundraising
The company's top two 2006 fundraisers, Store Manager Pauline
O’Brien and Regional Manager John Kanarens, climbed Mount
Kilimanjaro in support of the backpack fundraiser. On July 18th,
John and Pauline reached the top of Mount Kilimanjaro and easyhome reached its goal of $52,000 raised...more |
Oklahoma ColorTyme Franchisees Timmons and Hill Win
Annual War Room Contest; 62% of franchisees achieve
record deliveries in single day
ColorTyme stores across the country recently
participated in the company's second annual War Room
contest. The one day contest was a collaboration between
ColorTyme, Inc. and the company’s Franchise Advisory
Council (FAC) and served as the kick-off event for a
three-week-long Grand Slam Promotion...more |
ColorTyme Icon Pat Sumner Leaves
Corporate To Become Franchisee; Plans Dallas - Ft. Worth
Franchise
"For some time, I’ve entertained the idea of opening my
own ColorTyme store, now my family and I have reached
the point where we’re ready to take that step." - Pat
Sumner, Director of Franchise Development, ColorTyme...more
|
Talleys, Coles, ColorTyme Agree to Part Ways
Talley Rents and the Cole Group will join forces to
operate their existing stores and future stores under
the Rent 1st brand, which will focus on renting
appliances and electronics with the ability to expand
into new territories while protecting ColorTyme’s
existing franchisees for a two year period...more |
RTO Online Celebrates 10,000th Photo
The 10,000th photo was taken Saturday, July 14th 2007 at the
American Rental Trade Expo Hog Roast in Nashville, Indiana
during a "bubble blowing contest" held for children of
employees...more |
Payday Loan Industry Fires Back at
Washington Post; Demands correction, investigation
"We offered to sit down with the editorial writer who
refused to meet us. Instead she took the word of a
disingenuous anti-business activist group, the Center
for Responsible Lending, reprinting their factually
inaccurate charges verbatim from their talking points.
Newspapers are allowed to have opinions, but they should
be informed opinions." - Tommy Moore, Executive Vice
President, CFSA...more |
DSI Partners With Sharp
We’re pleased that Nationwide Members can now include
product from Sharp, with their orders for Hitachi,
Toshiba, Mitsubishi, Pioneer, Pioneer Elite, Fisher &
Paykel, Monster Cable and DIRECTV, to ship via a single
purchase order in 48 hours or less." - Mike Decker, Vice
President of Marketing-Electronics, Nationwide Marketing
Group...more |
Fox News Host and Former Ohio Congressman John Kasich To
Keynote PrimeTime! by RentDirect-Nationwide Convention
RentDirect Nationwide, and parent company Nationwide
Marketing Group, announced today that John Kasich is set
to keynote their PrimeTime! convention kickoff meeting,
Sunday, August 19th at the Venetian Hotel in Las Vegas...more |
Interest In Plasma Falls As LCD Continues March Toward
DTV Dominance
LCD will continue its ascension to market dominance and
will have almost 75% of the market in 2011, with plasma
fading to less than 15% according to high-tech market
research In-Stat...more
|
Aaron's "Lucky Dog" Helps Bring Smiles to Children With
Cancer
"We are so grateful to Aaron's and the New York State
Rental Dealers Association for their generous support of
our summer book club." - Chuck Collard, who co-founded
Carly’s Club with his daughter, Carly Collard Cottone,
who succumbed to cancer in 2002...more |
Buying Group Reports Continued Momentum Despite
Challenging Market; Selling the experience works for
independent retailers
"Collectively, our group members experienced double
digit growth in unit sales for flat panels last year." -
Mike Decker, Vice President of Marketing, Electronics,
Nationwide Marketing Group...more |
easyhome CEO Delivers Backpacks In Big Yellow Bus; Event
Caps Another Successful Backpack Challenge
David Ingram, President & CEO of easyhome, Canada's
largest rent-to-own company, rode a BIG YELLOW school
bus to drop off 200 backpacks to the Hamilton East
Kiwanis Boys and Girls Club. The event capped off
another successful Backpack Challenge for easyhome. The
company's employees and vendors raised enough money to
purchase 2,000 backpacks full of school supplies for
needy children across Canada...more |
Acer Acquires Gateway; Combined
Company Will Be Third Largest PC Company in the World
Acer will purchase all the outstanding shares of Gateway
for $1.90 per share. The acquisition has been
unanimously approved by the boards of directors of both
Gateway and Acer. Assuming government approval under
Hart Scott Rodino, the acquisition is expected to close
by December 2007...more |
Video; Interview
With Michael Garner, Director Of The Southeast Auto Rental
Dealers Association
Michael Garner, Director of SEADRA, the South East Automobile
Dealers’ Rental Association, explains how there’s never been a
better time to get into the RTO automobile business...more |
RentDirect-Nationwide Member 2 Member Summit; General
Session, Break Out Seminars Focus on Improving Rental
Business Practices
Saturday's Member 2 Member General Session featured an
update by Executive Director James MacAlpine. MacAlpine
announced that RentDirect will have 300 member companies
by the end of August and more than 150 were registered
to attend this weekend’s meetings...more |
Radio Rentals Australia
Turns A Corner; Company Plans
Financial Services Rollout
Radio Rentals Australia operates 66 locations. Since
raising $56 million in its initial public offering (IPO)
in December, 2006, the company has seen significant
growth - moving away from rent-to-rent and expanding its
Rent-Try-Buy (RTB) program - what we yanks call Rent to
Own...more |
Rent to Own and Retail Side By Side; Badcock Home Furnishings Tests Side By Side
Retail and Rent to Own In Largo, Florida
W. S. Badcock Corporation held a
ribbon cutting Wednesday to celebrate the opening of its 8,000
sq ft Largo, Florida Home Now Rental Ownership store. Home Now
is the rent-to-own division of Badcocks. See a complete photo
gallery of the ribbon cutting and celebration...more |
| September |
RTO Magazine Profiles Aaron's Larry Law;
Ships First Ever How To Issue
The content-packed September, 2007
issue of RTO Magazine, the leading print trade publication in the
home-goods Rent-to-Own and leasing sectors, is arriving in
mailboxes. The issue features an expanded RTO
Excellence profile of Larry Law, Washington State Aaron's
Franchisee....more |
Slippery Slope; Consumer Groups Want More Rules For
Lending To Military Men and Women
Just days after the Pentagon released rules capping
interest rates at 36% for loans made to service members,
consumer groups are already whining for more...more |
Rentcash
Net Falls 80% Year Over Year; Spin-off Of Ailing
Rent-to-Own Division Nears
After removing the rental division's operations,
Rentcash's net income for the year ended June 30, 2007
would have been approximately $8.4 million, compared to
the reported amount of $5.9 million...more |
Poll Shows Conservatives Favor Fred
Thompson Over Next Closest Republican 2-1 Even Before
Announcement
When asked whom they would vote for if the Republican
primary were held today, 28 percent preferred Fred
Thompson (up from 26 percent in May), whose closest
rival, Mitt Romney, gained 14 percent of the vote...more
|
Use of Social Security Numbers Causing Increased
Concern; Eighty Nine Percent
of Americans Want Lawmakers to Restrict Use
The poll also
revealed 78 percent of Americans would prefer not to provide
their number, but are concerned about the consequences of
refusing to do so. Social Security numbers are routinely
required by rent-to-own companies as part of the application
process...more |
Premier
Companies 2008 Convention Set For San Antonio
The Premier Companies will hold its
2008 franchisee convention at the
La Mansion del Rio in San Antonio, Texas January 21-24...more |
Check n' Go Claims Payday Advance
“Whistleblower” A Convicted Felon; Falsified Employment
Records
The company believes that the former employees worked
with the Center for Responsible Lending to mislead the
public in order to cause intentional harm to Check ‘n Go
and to influence public perception and the legislative
process. The company also claims that Center for
Responsible Lending and the former employees employed
questionable tactics, such as unauthorized eavesdropping
and otherwise illegally obtaining confidential
communications...more |
Digital Camera Inventor Steve Sasson Gets Consumer
Electronics Hall Of Fame Nod
In 1975 while working at Eastman Kodak Company, Sasson
accepted the challenge of building a camera using solid
state electronics. In 1978, he and his supervisor,
Gareth A. Lloyd, were issued a U.S. patent for the first
digital camera...more |
RTO Expo Wraps; Podcast Interview With Association
President Mike Tissot
"We can make sure that all of our professionals are
truly professional. If we can teach that skill, then our
image and our business will improve." - Excertpt from
RTO Online's podcast interview with Mike Tissot,
president of the Ohio Rental Dealers Association...more |
The Innovative Conservative; An exclusive podcast
interview with Gary Ferriman, owner of Showplace
Rent-to-Own
Gary Ferriman is the owner of Showplace Rent to Own,
operating 14 locations in Northern Ohio. Showplace began
as a retailer in 1982 and became one of the first
rent-to-own companies in the region, adding the RTO
purchase option to TVs and satellite systems in 1983...more |
Liberal Group Plans "Tell-All" Payday Loan Press
Conference
The press conference will be hosted by D.C. Councilwoman
Mary Cheh and will feature former payday loan company
employees as "whistleblowers"...more |
Interview With Gloria Homeier-Schwein, Owner, A
Full House Rentals
Gloria Homeier-Schwein is
well-respected throughout the rental industry for her keen
business sense, strong work ethic, and willingness to find new
and better ways to serve the needs of her stores' customers...more
|
Nations Largest Rent to Own Store Growing According To
Plan
At 35,000 square feet, NewAvenues Rentals' Decatur,
Georgia location is thought to be the largest
rental-purchase store in North America. Moore says the store is growing according to plan, and
that due to the relatively low cost per square foot, the plan is
not as aggressive as one might assume...more |
Military Payday Lending Ban Takes Effect October 1
Activist groups supporting the ban have not addressed
the legal consequences, not to mention the moral
conundrum, of how a business can refuse to loan money to
a person because they wear the uniform of the United
States armed forces...more |
How To Plan An Effective Direct Mail Campaign
By Chet Pensak
You have two seconds to get the
interest of a rent-to-own / lease purchase prospect in a Mailed
Offer before she "circular files" it. To stop the filing
process, an attention-getting mail piece with an attractive
Offer must be directed toward the demographically correct
recipient. Below are direct marketing tips to help guarantee a
successful direct marketing program...more |
ColorTyme Franchisees Mike and Lisa Gavidia Take On
College Town
Gavidia credits ColorTyme franchisee Mike Houseworth,
for whom he worked for six years, for helping him
achieve his goals. "You see the efforts and graciousness
of many of the owners. They pave the way for you to go
out on your own." - Mike Gavidia, ColorTyme Franchisee...more |
ColorTyme Franchisee James Stephens Sets Shreveport
Grand Opening For November
Stephens chose ColorTyme because he was familiar with
the company through his work with Rent-A-Center and knew
it would be the best fit. His decision to open
his store in Shreveport was a no-brainer. He and his
wife, Jennifer, grew up in the area and know it well...more |
Custom Wheel Rent to Own Franchise Wheel Workz To Sell Area Development
Agreements
"The automotive rent-to-own industry represents nearly
the same market percentage as computer rent-to-own or about 4.7%. The potential
for growth is tremendous." - Dale Ingram, CEO, Wheel Workz...more |
Bestway Rent-to-Own Convention In Full Swing; Interview With CEO David Kraemer
Sales at Bestway are tracking well above last year. The
challenge now, says Kraemer, is adding increased retention to
those sales. "Deliveries are up well over 20% in the last nine
months but we're seeing returns creep up. We feel like we can
improve results by focusing on keeping customers rather
chasing after new ones"...more |
Aaron Rents Warns; Revises 2007
Store Opening Plans
Aaron's expects same store revenues in the Sales & Lease
Ownership division will increase close to 5% in the
third quarter. But due to the operating cost pressures,
results for the third and fourth quarter of 2007 will
probably be at or below previous guidance...more |
Michael Novembrino Shares Secrets of Choosing the Right Site For Your Next Rent to Own Store
Everyone has heard the adage, Location, Location,
Location. The cost of your lease and its related fees
will be one of the largest non-controllable expenses for
your Rent to Own business...more |
Interview With Express Rentals Owner Jean-Guy
Poulin
"I'd say in the
overall Parish there are about 100,000 residents. We'll deliver
merchandise as far as 60 miles out." - Jean-Guy Poulin, Owner, Express Rentals; Treasurer, Louisiana
Rental Dealers Association....more |
Rent-N-Roll Goes Retail; Company
To Re-brand As Retailer With RTO Option
"Our demographic already tell us that at least 50 to 60%
of our current RTO customers have never used the
rent-to-own agreement before." - Larry Sutton,
President, Rent-N-Roll...more |
The Right Store Fixtures Can Build RTO Home
Entertainment Revenues
Integrating Flat Panel TV, Home theatre, Gaming and
Computer technologies presents exciting new revenue
opportunities for the rent-to-own industry...more |
| October |
Going Back In Time; Premier's John Darden,
APRO's Rental Dealer of the Year, Forges 30 Years Of Connections
John Darden is a quiet family man from Charlottesville,
Virginia who looks more like a high-school principal
than the man who has played a key role in shaping the
rent to own industry since 1976 when he answered an ad in the paper for an area manager at Remco.
Darden
worked 6 days a week, 10 hours a day for $660 per month - and he thought
he was in heaven. During his subsequent journey through three decades of the RTO
business, Darden's career intersected with both the pioneers of
the 1970s, and the industry leaders of the new century.....more |
Is It Time To Rent Macintosh?; Apple Ships 2.1 Million
Macs In Third Quarter, Up 34%
As Apple gains market share, the premium product could
become an important addition to the rent-to-own
industry's lineup, helping hold the line against rapid
PC price declines...more |
30% Say Total Revenue Most Important Measure Of RTO
Store's Success
When forced to choose one, 29.89% of rent-to-own
professionals say Total Revenue is the most important
variable in judging a rent to own store's performance.
23.56% said Customer Count is most important. Total BOR
(units on rent) rounded out the top three with 17.24%....more |
Alabama
Payday Loan Association Goes On Offensive With Statewide
Ad, Education Campaign
"Our industry has been mislabeled and misunderstood by
advocacy groups who say they want to help low income
residents of our state. The truth is our services help
many of our customers get back on their feet or
reestablish their credit." - Charles Hunter, spokesman
for the Alabama Council for Fair Lending...more |
Wal-Mart Jumps The Black Friday Gun; Will Reduce Pricing
Three Weeks Early
Wal Mart announced today that it would offer
black-Friday prices three weeks early. The nation's
largest retailer is expected to reduce prices on certain
electronics items beginning Friday, November 2nd....more
|
Rent-A-Center Same Store Sales Drop 1.8%; Settles Walker
Class Action for $3.6 Million
"Our third quarter financial results for total revenue
and earnings per diluted share were within our guidance
range; however, the business environment was very
challenging throughout the quarter." - Mark Speese,
Chairman and CEO, Rent-A-Center....more
|
Whirlpool Sends 35 Employees and $250,000 To Support
Habitat for Humanity's Jimmy Carter Project in Los
Angeles
To help additional families in one of the most expensive
and overcrowded metropolitan areas in the United States,
Habitat for Humanity Greater Los Angeles made a
three-year commitment to build and repair 150 additional
homes throughout the area to help more low-income
families...more |
Podcast on the Ramifications of Congress' Delay In
Passing the Alternative Minimum Tax Patch
IRS Acting Commissioner Linda Stiff explained the
ramifications of Congress' delay in passing the
perennial Alternative Minimum Tax (AMT) patch at a news
conference in Washington D.C.
Listen to the entire podcast here...more |
Message To Attorneys General, Stop Threatening
Business With Criminal Prosecution To Force Settlements
Some state AGs are increasingly using civil litigation to reap
power, publicity and political advantage, so it is critical that
they hold themselves to the highest ethical standards
akin to those applicable to federal and state regulators
and other government prosecutors...more |
SED International Sees Consumer Electronics As THE Hot
Category
"Between Consumer Electronics like flat panel
televisions, audio/video products and computers, the
convergence of the DIGITAL HOME concept is now here." -
Tom Roper, VP & GMM, Consumer Electronics, SED...more |
Rent to Own Companies and Identity Theft; Tips To
Protect Sensitive Customer Information
The most common security breach in the rent to own
industry is improper disposal of customer applications
and other records containing sensitive information.
While the most likely consequence of improper disposal
is harm to the industry's reputation if discovered, the
possibility of identity theft is real...more |
ColorTyme's Ken and Richelle Schimpf; Roadmap To Success
Ken Schimpf's business strategy is straightforward: Have
a map to where you want to go, then plan how to get
there. That philosophy, he says, is key to his success.
Schimpf, who grew up in the Cincinnati area, started in
the rent-to-own industry as an account manager in 1989.
In 18 years, he's moved from an entry level position to
buying and selling a number of stores to having the
highest revenue in the ColorTyme system for the two
stores he currently owns in the cities of Hamilton and
Middletown, Ohio...more |
Aaron's Mid American Operations Unit; Leaning Forward
Hair On Fire
Aaron's store count has increased 50% in
three years. The company's Mid American Operations unit, headed
by VP Bert Hanson and supported by a team of what can only be
described as the civilian version of born-again hard marines,
has one thing on its mind - domination...more |
Only In America; Video Interview With Aaron Rents
Founder Charlie Loudermilk
Charlie Loudermilk, Chairman and CEO of Aaron Rents, who
founded the company in 1955 with an inventory of 300 folding
chairs, addressed the crowd before the ribbon cutting. "I've
been to plenty of grand openings over the years, but even I've
never seen anything quite like this," he said. Watch RTO
Online's exclusive interview with Charlie Loudermilk,
Founder, Chairman and CEO of Aaron Rents....more |
Aarons
Store Count Grows 50% In Three Years; Largest Ever Grand Opening
Of 1500th Location Begins Today In Mansfield, Texas
"We are proud to mark this momentous occasion for Aaron's.
We specifically chose Mansfield, Texas as the location
for this benchmark because of the growth opportunity
that emergent, young communities present for our unique
lease-ownership concept." -
R. Charles Loudermilk, Sr., Chairman and CEO, Aaron Rents...more |
Rent-2-Own Opens 22nd Store; Interview With Company
President Mike Tissot
There is a trend in certain regions of the country to avoid the
term "rent-to-own" in a company name. Some companies have chosen
to sell the leasing concept as opposed to traditional rent to
own. Mike Tissot, president of Rent-2-Own disagrees
wholeheartedly....more |
New York Democrat Representative Clarke Supports Rental
Purchase Agreement Act
New York Democrat and freshman Representative Yvette D. Clarke has cosponsored the House
version of the
Consumer Rental Purchase Agreement Act of 2007 (H.R. 1767).
The addition of Clarke brings the total number of US
Representatives supporting federal legislation
regulating the rent to own industry to
58...more |
Rent-A-Center Rescues Vandalized Buffalo, New York Club;
Buffalo Mayor Brown Recognizes RAC For Community
Involvement
"It's always wonderful to see a company give back to the
people it serves in the community, but in this instance
it was especially gratifying to see how quickly
Rent-A-Center responded in replacing the stolen and
destroyed furnishings in the Club." - Byron Brown, Mayor
of Buffalo, New York...more |
Website Review
Rental Revolution; Radio Rentals Launches New
Website
"The site's homepage flash presentation detailing the
benefits of renting is a home-run and, in our
opinion, is the strongest of any rent to own company offering
currently available on the net." - From RTO Online's
Website Review of Radio Rentals...more |
Westinghouse
To Competitors "Keep Cutting Prices, We'll Keep Selling
HDTVs"; Blasts Competitor's Pricing Strategy
"We will not be an overnight upstart like some of our
competitors who have made short-term news with pricing
moves they will not be able to sustain." - Rey Roque, Vice President of Marketing, Westinghouse Digital
Electronics....more
|
RTO Online Releases US Senate And House Of
Representatives Face Book Application
The dynamic PDF Congressional Face Book program was
written and is hosted by RTO Online as a free service to
the rent to own and home-goods leasing industries. There
is no charge for the service and registration is not
required...more |
Aaron Rents Acquires Prime Time
Rentals 33 Stores
Aaron Rents has acquired all of Prime Time Rentals 33
stores locations in Virginia, North Carolina, Maryland,
and West Virginia...more |
The Best Flat Panel TV Ever Made? Independent Testing
Company Claims Panasonic's 50 inch TH-50PZ700U Best Ever
Tested
Who makes the best Plasma TV? According to Consumer
Reports, the Panasonic TH-50PZ700U "had the best picture
of any flat-panel TV we’ve ever tested."...more
|
Maytag Turns 1000
Frederick Louis Maytag, who came to Iowa as a farm boy
in a covered wagon, started a farm implement company
with his two brothers-in-law and George W. Parsons.
Each partner contributed $600 for a total startup fund
of $2,400...more |
New York ColorTyme Supports Food Drive For Homeless
The Queensbury, New York ColorTyme is hosting a Canned
Food Drive to benefit The Open Door Soup Kitchen which
serves the hunger needs of the local poor and homeless
community...more
|
Quick Ship And Broad Selection Making Coaster Company
The Furniture Vendor of Choice For Many Rent to Own
Dealers
The distribution model that makes Coaster so appealing
to rental dealers is one that offers a large selection
of continually-warehoused merchandise that can be
quickly shipped from any of seven strategically located
warehouses...more
|
| November |
Rent-A-Center VP Chris Korst Named RTO Magazine Man of the Year
In honor of his dedication and legislative successes on
behalf of the entire rent-to-own (RTO) industry, Chris
Korst, Senior Vice President, General Counsel and
Secretary for Rent-A-Center, has been named 2007 Man of
the Year by RTO Magazine, the rent-to-own and
lease-purchase industry's largest trade magazine.....more |
RentDirect Nationwide
Predicts Record Attendance For March Buying Show
The March buying show will be the biggest ever in the
history of Nationwide and RentDirect. With as many as
200 rent to own companies attending, it will also be the
largest largest gathering of RTO dealers of
the entire year...more |
Panasonic Plasma Has Lowest Repair Rate of All
Flat Panels; Rear Projection Repair Rate Six Times Higher Than Flat panel
On average, flat-panel sets
are much more reliable than rear-projection sets with
their average 18% repair rate...more |
Rent’N Go Supports
National Beat the Heat, Cops & Kids Program
Rent to Own custom wheel franchisor Rent’N
Go is supporting the Cops & Kids Beat the Heat program in
partnership with the
National Hot Rod Association....more |
easyhome Reports Same Store Sales Up 8.9%; Revenue Up
17.8%; Earnings Flat
"A solid platform is in place for future growth in
Canada, and we have had a healthy start with our first
stores in the United States and there is significant
interest from potential U.S. franchisees." - Donald K.
Johnson, Chairman of the Board...more
|
Soaps Or NASCAR - Women More Likely To Watch
Sports; Marketers Should Focus On Sports To Reach Key Demo
Which is more effective for reaching female consumers,
advertising on soap operas or during NFL games? If you
guessed soap operas, you would be very wrong. Aaron
Rents is one company that has found success in sports
marketing....more |
Providence Rhode Island Mayor's Task Force
Recommends Allowing City To Ban Rent to Own And Other Services
The
Providence Task Force final recommendation states that the City
should include legislation in its state legislative package
creating state laws banning services such as check-cashers, rent-to-own stores, payday loans, and refund
anticipatory loans...more |
Ten Ways To Help Your Employees "Get It Done" Every Day
Companies frequently develop vision and mission
statements about being number one in their industry, the
great service they provide to customers, and their
rewarding work environment. Yet more often than not,
these statements are so far from reality that they
become joke fodder for customers and employees alike...more |
Oklahoma Rental Dealers Flourish Despite Tight
Regulation; Interview With Oklahoma Association
President Randy Braucher
The Rent to Own industry in
Oklahoma is tightly regulated. In addition to being licensed,
all locations are physically audited annually by a state auditor
attached to the Department of Consumer Credit. Randy Braucher,
President of ORDA, says that despite the oversight, RTO
companies prosper in Oklahoma....more |
ColorTyme of Alaska Rescues Goose Bay Boys and Girls
Club; Donates Entire Budget Shortfall
The Goosebay Club's 2007/2008 budget was $7,000 short
and the club was in danger of closing its doors.
ColorTyme of Alaska VP of Financial Service Operations, Megan Kirkingburg found out about the shortage and approached
Alaska franchisee Mark Childers about making a donation
to keep the Club open....more |
Former Rent-A-Center CEO Bud Gates To Keynote RentDirect
Nationwide
Former Rent-A-Center (RCII) CEO and pioneer of the
rent-to-own industry Bud Gates will keynote the
RentDirect session being held during the Nationwide
PrimeTime! buying show in at the Hilton Anatole in
Dallas, Texas March 2-5, 2008....more |
Premier Wheel Rentals Holds Successful Grand Opening Of St. Petersburg Location
Franchise owner Keith Slater said the grand opening was a
rousing success. "Customers streamed in and out of the store all
day. I'm very pleased with the grand opening and look forward to
adding more Premier locations in the near future." A
successful Florida real estate developer, Slater signed
a ten store development deal with Premier in June...more |
Radio Rentals Australia Customer Count Grows 4%; Revenue Per Customer Up 16%
Radio Rentals hard won and welcome reversal is due to the company's
increased focus on rent-to-own, or as Radio Rentals calls it
"Rent Try Buy" (RTB)...more |
Tire
Rental Industry Pioneer Scott Savell Joins ColorTyme to
Oversee Major Expansion of RimTyme Division
"We knew we would need to hire a big gun to lead the
effort and Savell was the obvious choice. His expertise
in this market is second to none and we’re glad to have
him join our RimTyme team." Bob Bloom, President,
ColorTyme....more
|
RFID Lead Retrieval System Unveiled For RentDirect Nationwide PrimeTime!
RTO dealers
and retailers want timely follow-up from vendors regarding new
products and vendors need a way to collect contact information
that is more reliable than a pocket full of business cards...more |
Bedding Shipments Show Decades of Steady Growth Despite Economic Conditions; ISPA Wraps Mattress Industry Conference
Since tracking began in 1984, there has only been one year in
which mattress shipments fell (2001). According to presenter
W.W. "Jerry" Epperson, Jr. C.F.A. of Mann, Armistead &
Epperson, mattress and foundation shipments will reach
nearly $7 billion in 2007....more |
Fuel Costs Continue To Drive Down Low and Middle Income Consumer Spending
"Shoppers at
opposite ends of the economic spectrum will approach the holiday
season very differently, producing a mixed outlook for
retailers." - Doug Harrison, President and CEO, Harrison Group...more |
Rent to Own Industry Supporter Trent Lott To Resign From Senate
Mississippi Senator
Trent Lott (R), perennial rent to own industry supporter and
cosponsor the
Consumer Rental Purchase Agreement Act of 2007 (S 1012),
will resign from the Senate before the end of 2007...more |
Consumers Report Decreasing Trust In Businesses They
Frequent; Furniture Stores Among Least Trusted
Consumers were asked to consider what one company, large
or small, that they regularly deal with in everyday
life, do they trust most -- and what does that company
do to earn their trust. From unprompted, top-of-mind
responses, competitive, low prices were cited as a key
trust factor by 29 percent of respondents, with nice and
friendly personnel at 29 percent as well. Good customer
service (non-specific) was ranked third by consumers as
a core component of trust in companies at 26 percent...more |
| December |
Rent-To-Own Industry Statistical Data; SEC Filings Most Reliable Source of Operational Data
From average store size to the the amount spent per location on
rental inventory, Rent-A-Center's annual reports (10-Ks) are a
gold mine of information that traditional independent operators can use to
gauge their performance versus the industry as a whole...more |
Rent-A-Center Closes 280 Stores In 40 States
For the second time in as many years, Rent-A-Center
announced a major store consolidation plan...more |
Premier Companies Forms Joint Custom Wheel Rent to Own Franchise Venture With Wheel Workz
The Premier Companies, parent
company of Premier Wheel Rentals,
has formed a joint venture with Memphis, Tennessee based
Wheel Workz, the largest
independently owned supplier of custom wheels in the Mid-South
and franchisor of Wheel Workz Rent-to-Own. The new franchise venture will
be named Premier Wheel Workz...more |
ColorTyme Hires Franchise-Industry Exec James Deering as Director of Franchise Development
"I hope to bring great franchise and business
organizational efficiencies as well as help refine the
proven systems that ColorTyme has in place now." - James Deering,
Director of Franchise Development, ColorTyme.....more |
Federal Reserve Bank of New York Claims Denying Consumers Access to Payday Loans Leads to Greater Financial Burdens
Preliminary findings in the November 2007 working paper, "Payday
Holiday: How Households Fare after Payday Credit Bans," by
Donald P. Morgan and Michael R. Strain, Research Officers with
the Federal Reserve Bank of New York, conclude that payday loan
bans result in increased credit problems for consumers...more |
RTO Pro Software Releases New Version; Customizable Menus Allow Quicker Access To Commonly Used Functions
RTO Pro, a leading provider of
point of sale (POS) software for Rent to Own companies, has
released a new version which includes a complete redesign of the
user interface...more |
Premier Doubles Vendor Presentations Scheduled For January Convention
Clyde Stutzman, Vice President of Franchise Development for The
Premier Companies, reports vendor interest in the annual
convention is at record levels. As a result, Stutzman said
Premier will double the amount of time allocated for
vendor presentations to all franchisees...more |
Furniture Retailers Continue Struggle in Face of Credit Crunch; Havertys November Same Store Sales Down 10.7%
"Our November sales
results were not out of line with our expectations given the
housing weakness in many of our markets and mortgage financing
concerns." - Clarence H. Smith, President and CEO, Havertys...more
|
Bi-Lingual Advertising Increasingly Important for Rent to Own Industry; AME and RentDirect Launch Spanish-English Ad Materials
According to the Association of Hispanic Advertising
Agencies, there are over 40 million Hispanic consumers
in the United States - 14 % of the entire U.S.
population. Hispanics are predicted to make up 20% of
the U.S. population in 2030, and nearly 25% by 205050...more |
Keep Company Christmas Parties Safe And Sober
All employers run a risk if they serve alcoholic
beverages at workplace celebrations and other
company-sponsored events because they may be held liable
if a person causes a crash subsequent to consuming
alcoholic beverages...more |
Nationwide And SED International Add JVC
To Warehouse Direct Program
"JVC is an
excellent addition to NMG's Warehouse Direct program. JVC will
provide NMG members technologically driven products with
exclusive distribution that will meet and exceed the
expectations of the purchaser." - Mike Decker, Vice
President, Marketing-Electronics, Nationwide Marketing
Group.....more |
Frigidaire Partners With 'Rescue Me' Star Denis Leary to Rescue New Orleans Firehouses
Denis Leary, star of FX Network's
firefighter drama "Rescue Me" and founder of the
Leary Firefighters
Foundation, announced a partnership with Frigidaire appliances
to help complete the restoration of New Orleans
firehouses destroyed by Hurricane Katrina more than two
years ago...more |
Who Cares About the Format War; LG's Super Blu Multi-Format Player Removes The Guesswork
The BH200's enhanced features and functionality
eliminate the need for a second or third player and the
additional cables and remotes that those units would
require." - Tim Alessi,
Director of Consumer Electronics Marketing, LG
Electronics USA...more |
Future Workplace; Employers Must Diversify Rewards - Eight Predictions for Human Capital Management in 2008
"In the past,
we've resorted to treating everyone the same in our
discrimination-sensitive, politically correct environments.
Given the increasingly diverse workforce, organizations will
need to offer more variety in rewards as they try to access the
best and the brightest in a seller's market." - Anne Ruddy, CCP, President, WorldatWork...more |
Most Popular Rent to Own Industry Podcasts
of 2007
RTO Online, the rent-to-own
industry's leading source of trade news and information,
published 114 audio and video interviews with rent to own
industry professionals in 2007...more |
Interview With Chris Bolin, Bolin Rental Purchase; Kentucky Rental Dealers to Revive Dormant Association
Chris
Bolin also
serves as Vice President of the Tennessee Rental Dealers
Association. Before opening his own stores, he worked as a
Regional Manager for Alrenco/Home Choice/Rentway for nearly 12
years. Prior to Alrenco, Bolin worked as a police officer for 7
years.....more |
Political Correctness Gone Amok
or Just Good Business; "Holidays" Beats "Christmas" in Actual Consumer Usage Two to One
A record-high 60 percent of gift-basket buyers used the
term "Happy Holidays" in 2007...more |
Advance America Pulls The Plug On Pennsylvania; Will Close 66 Remaining Locations In State
"While we remain hopeful for a favorable outcome on our
appeal, the timetable remains uncertain and we have
decided that closing our remaining Pennsylvania centers
at this time is in the best interest of our
stockholders." - Ken Compton, President and CEO, Advance
America...more
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