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If you could change one thing about your job, what would it
be?
 37% said they would like to work fewer
hours. The time necessary to meet high collection goals is a
consistent theme industry wide. It is interesting to note
that only 13.9% thought "long hours" was the cause of high
employee turnover (see
chart below). Only 11.1% cited pay and benefits
reflecting a general satisfaction in that area. 8.3% would
prefer more flexibility with collections and rates;
primarily the ability to "work with" past due accounts of select
customers and setting rental rates on used merchandise.
Related: 76.5% of respondents feel that their company's goals
for Card Close are "About Right".
A combined 23.5% thought the goals were too high or too low.
Is
employee turnover at your company...
 A
combined 57.5% report employee turnover Low or Very Low.
While a combined 42.5% report employee turnover as High to
Very High.Related: Pay and benefits were reported as the
leading cause of turnover. (see next chart)
In your opinion, what is the primary cause of employee
turnover?
 Inadequate
pay/benefits and lack of support by management were reported
a the leading causes of employee turnover.A combined
30.6% reported inadequate employee screening or inadequate
training. It takes a unique skill set to be successful in
the rent to own industry. A two step approach of improving
the screening process to identify individuals capable of
success, followed by a training program designed to give
them the tools is recommended.
How
would you rate your point of sale software?
 36%
rated their point of sale software Good. Only 14% responded
Very Good.
What is the average number of agreements per customer?
(round up)
 Average
number of agreements per customer has remained stable for
some time (based on prior polling data).
What percentage of your customers pay weekly? (round up)
 29.5%
of respondents reported between 80% and 90% of all rent to
own customers pay weekly.
Related: As shown in the chart, there are two
populations. One showing the majority of customers weekly,
and a second smaller population showing 10% or less paying
weekly. The majority of rent to own companies offer weekly,
biweekly or monthly renewals. There are a growing number of
locations (Primarily Aaron Rents) that require monthly
renewal payments.
What percentage of your customers pay monthly? (round up)
 26.5%
report less than 10% of customers pay monthly.Related:
See above
What percentage of new agreements include "free rent" as an
incentive? (first week free etc)
 31%
report giving Free Rent as an incentive on less than 10% of
new agreements.
Related: The distribution implies that the use of Free
Rent as an incentive is used as needed to make the sale.
Have rental rates (overall) increased or decreased over the
last 12 months?
 A
combined 69% reported No Change or a Decrease in rental
rates during 2003. This likely reflects the drop in computer
and electronic cost during the year as well as increased
competition.
Related: Rental rates are function of cost.
Do you offer "Lifetime Reinstatement?" (credit for rent paid
on returned merchandise)
 A
majority of companies (55%) reported offering "Lifetime
Reinstatement". Lifetime reinstatement allows a customer
that returned merchandise to rent the same or similar
merchandise in the future and get credit for rent paid.
Related: The number of customers taking advantage of this
option is unclear.
What is your average monthly rental rate per AGREEMENT?
(round to nearest)
 57%
reported an Average Rental Rate Per Agreement of $85 or
less. 43% reported 90$ or more with the largest group (30%)
being greater than $100 per month.
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