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Related articles
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easyhome Leads North American Public Rent to Own Companies in Same Store Sales
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easyhome First Quarter
Webcast Scheduled |
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easyhome
Announces Normal Course Issuer Bid |
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Former Rent-A-Center Pros Ladd Welch, Chris Prater Join Bud Gates at easyhome U.S. |
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easyhome US Master Franchisor Bud Gates to Address RentDirect Dealers |
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easyhome Same Store Sales Up 13.5%; Announces New Management Structure |
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easyhome Schedules February 22 Conference Call |
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easyhome Reports Same Store Sales Up 8.9%; Revenue Up 17.8%;
Earnings Flat |
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easyhome
Conference Call Webcast Scheduled For November |
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easyhome CEO Delivers Backpacks In Big Yellow Bus; Event Caps
Another Successful Backpack Challenge |
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easyhome
opens 200th Location |
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easyhome Raises Over $50,000 During 2007 Backpack Challenge;
Employees Summit Mount Kilimanjaro To Support Fundraising |
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easyhome Same Store Sales Up 8.6%; Earnings Up 56.9% |
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easyhome
Testing Branded Pre-Paid Phone Service |
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easyhome
To Webcast Q2 Conference Call August 2nd |
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easyhome
Store Of The Future Opens In New York; Hundreds Wait In Line for
Hours; Company To Open Up Border States To Franchisees |
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easyhome
Store Of The Future Opens In New York; Hundreds Wait In Line for
Hours To Get in |
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easyhome Honored For "A New Way To Look At
Buying" Ad Campaign |
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Special Rent to Own Industry Franchise Issue of RTO Magazine |
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easyhome Same Store Sales Up 11.0% |
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easyhome webcast Scheduled; Expect Review of Recent Major
Announcements |
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easyhome Launches New Staging,
Events and Props Division for Furniture and Accessory Rentals |
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John Natale Named easyhome Vice President Of U.S. Operations |
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easyhome
Wraps 2007 Conference; Sheri Reid Named Store Manager of the
Year; Podcast Interview With Keynote Speaker Jack Black |
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Podcast Interviews With easyhome CEO David Ingram,
Master Franchisee Bud Gates, VP Dave Maries, Divisional
VP Simon Holmes, Regional Manager Errol Penny |
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Former Rent A Center CEO Bud Gates To
Franchise easyhome Rent to Own Concept In United States |
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Canada's Largest Rent to Own Company Prepares For Annual
Convention; 2007 easyhome National Conference Begins Wednesday In Niagara
Falls |
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easyhome To Webcast Q4 Conference Call |
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easyhome
Reports Record Quarterly Revenue; Same Store Sales Up 8.1% |
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easyhome To Webcast Q3 Conference Call |
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easyhome Completes Second Annual Backpack Challenge; Raises
$52,000 And Delivers 2,000 Backpacks, School Supplies To Needy
Kids |
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Canadian RTO Operator easyhome Reports Same Store Sales
Increase; New Store Drag Hits Profit |
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easyhome To Webcast Q2 Conference Call |
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easyhome
Expands 'Backpack
Challenge' Store Fundraising Event |
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easyhome
Reports 8.7% Same Store Growth; Begins Financial Services Test
Market |
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easyhome
To Webcast Q1 Conference Call |
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easyhome
Names Chris Fregren VP And CFO |
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Canadian Rent To Own Pro's Gather easyhome
Conference |
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easyhome
Reports Revenue Up 15% Over Last Year; Testing Small Loan Centers; Strong Q4
Brings Units On Rent Up 21% |
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easyhome To
Webcast Q4 Conference Call |
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easyhome Announces 8.8% Same Store Revenue
Growth In Q3 |
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easyhome Executive VP and CFO Bill Johnson
Retires |
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easyhome
To Webcast Conference Call |
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Canada's Largest Rent to Own Company Raises $52,000 In 2 Day Charity Event |
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easyhome Reports Record Same Store Revenue
Growth of 11.9%; Class Action Settlement Puts Quarter In Red |
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easyhome Ltd. Schedules 2005 Second Quarter Webcast |
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easyhome's
David Ingram Named Finalist For Entrepreneur Of The Year Award |
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Judge Approves easyhome Class Action Settlement;
Company To Revise Rental Agreements |
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Quebec Court Approves easyhome Class Action Settlement |
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easyhome Announces Approval
of Stock Split |
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easyhome
Posts Record Revenue; Same Store Sales Up 7% |
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easyhome Ltd. and Leon's
Furniture Form Joint
Venture; Pilot Program Has Rent to Own Kiosk Inside Leon's
Locations |
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easyhome Board Approves Up To 10% Stock
Re-purchase |
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easyhome National Conference Wraps |
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easyhome Conference
Kicks Off In Toronto |
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easyhome Settles Class Action For $7 Million
In Coupons |
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10 Questions For Brent Atkinson; easyhome's
Marketing Manager |
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easyhome Webcast Conference Call Scheduled For
March 8 |
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Canada's Largest Rent to Own Reports Record Revenue; Same Store Sales Up
8.7% |
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easyhome Webcast Conference Call
Scheduled |
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easyhome Smashes Revenue Records; Net Income Up 215%, Same Store Sales Up
10.4% |
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easyhome
Reports Same Store Sales Up 8.7%; Customer Count Up 6% |
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Class
Action Comes To Canada; easyhome Announces Possible Class Action |
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easyhome to Webcast Q1 Conference Call |
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Canada's easyhome Reports Record Revenue In
Q4; Same Store Sales Up 7.7% |
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easyhome Announces
First Ever Webcast Conference Call |
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Canada's Largest Rent to Own Completes Public Offering |
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Easyhome
Expects $12 Million From Stock Offer |
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Easyhome Files Prospectus For Common Share Offering |
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easyhome (formerly RTO Enterprises) Reports
Revenue Up 10%; Same Store Growth 7.8% |
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easyhome
Reports Q2 Revenues Up 7.3%; Same Store Sales up 4%; Brand Transition
Complete |
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RTO Enterprises to Begin Trading Under New Symbol 'EH' |
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RTO Enterprises
Launches "Next Generation" Website to Go With
The New Name; easyhome |
RTO Enterprises Announces Strong 2002 Results
Q4 Net income Doubled From 2001 |
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Interview with David Ingram, CEO RTO Enterprises |
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RTO Enterprises To Consolidate All Brands |
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RTO Enterprises Refinances High Interest Debt |
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RTO Enterprises Announces Improved Q3
Results...Same Store Revenues Increase 5.0% |
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RTO Online and RTO Magazine will cover this year's show for the
first time. Please check
www.rtoonline.com for updates, photo galleries and podcasts.
 |
| Group photo from the 2005 easyhome
conference. RTO Online and RTO Magazine will cover this
year's show for the first time. Please check
www.rtoonline.com
for updates, photo galleries and podcasts. |
easyhome managers and executives
will gather at the Fallsview Casino in Niagara Falls, Ontario
this week for the company's 2007 National Conference. easyhome,
formerly RTO Enterprises, is Canada's largest furniture
leasing/rent to own company.
Over 200 easyhome will attended the event that will feature two days of training, strategy
sessions and recognition of company and individual results.
The conference kicks off Wednesday morning with a Main Assembly followed
by a vendor tradeshow. The event continues Thursday with
training and planning sessions followed by an awards ceremony
Thursday evening.
RTO Online and RTO Magazine will cover this year's show for the
first time. Please check
www.rtoonline.com for updates, photo galleries and podcasts.
easyhome will webcast it's management conference call with
shareholders to discuss results for the fourth quarter at 11am
EST today (Tuesday), March 6, 2007. Audio of the call will be
broadcast live. A link to the live webcast is available from
My RTO
Portfolio.
easyhome Factoids From RTO Online:
Based in Edmonton, Alberta, easyhome is Canada's largest
home-goods rental purchase company. The Company operated under
the name RTO Enterprises until June 2003.
 |
| easyhome President & CEO, David
Ingram (second from right) kicks off last year's
2006 conference. |
David Ingram was hired as easyhome Chief Operating Officer on
December 4, 2000 and appointed President and Chief Executive
Officer on May 24, 2001. Prior to easyhome, Ingram ran
Rent-A-Center's 29 store Canadian operation in 1996-97 and a 380
store U.S. division for Rent-A-Center.
After his appointment as CEO of the struggling company, Ingram
implemented a turnaround strategy for RTO Enterprises that
consisted of four simple steps designed to, in his words,
"re-engineer RTO Enterprises." Those steps were -1. Restructure
the organization; 2. Implement the basics; 3. Execute flawlessly
; and 4. Leverage opportunities for the C3 (cash and credit
constrained) consumer.
Ingram focused his team on implementing the traditional
rent-to-own business model including a much more disciplined
approach to collections as well as moving easyhome's rental
agreement renewal frequency towards weekly payments rather than
monthly. Ingram said later that increasing weekly agreements,
"Helped our efforts to develop the relationship with our
customers and showcase our product assortment as our ‘stock
turns’ become faster." By the end of 2001, RTO Enterprises was
reporting its best growth in three years.
 |
| easyhome raised over
$52,000 and supplied 2,000 kids with a backpack and
school supplies during the company's 2006 backpack Challenge. |
Responsibility for implement the back to basics strategy of
rent-and-collect fell to Randy Robertson, Senior VP Operations.
Robertson and team implemented two very simple processes - "Best
Collection Practices" and "Best Sales Practices." These programs
contained very specific daily and weekly responsibilities for
each key area while clearly defining accountability for each
Associate.
During each quarter, every store was given a complete financial
audit and is examined in accordance with the newly introduced
Standards of Operation.
With the implementation of ‘Best Collection Practices’,
easyhome's month-end number of delinquent accounts decreased an
average of 32%. Past due accounts dropped 40% and charge-offs
were reduced by over $1.5 million, finishing the year at 2.5% of
store revenue versus 4.9% in the year 2000. This was
significantly lower than the company's US peer group that
averaged charge-offs of 4.4% of revenue for the same period.
Also in 2001, easyhome introduced an annual bonus program. In
addition to improving performance, the initiatives helped
reduced employee turnover rate by 26%.
In march of 2002, RTO enterprises began a Canada-wide test of
the easyhome re-branding concept. Over a 10-month period, stores
that were re-branded increased their monthly rental
agreement portfolio 30% compared with 7.5% for non-rebranded
stores, increased their average rental rate per agreement by an
average of $3.02 compared with a decline of $0.68 in non
re-branded stores and grew customers by 3.7 per store per month,
compared to 1.4 in non re-branded stores. In addition, increases
were seen in customer retention rates.
By the end of 2003, RTO Enterprises had re-branded all stores to
the easyhome label, becoming the dominant single rent to own
brand in Canada with a 65% market share. (As a sidenote, 126
stores were converted from six different brands to easyhome in
90 days. The conversion was completed ahead of schedule and
under budget.) Revenue for 2003 approached $80 million, up from
$67 million in 2000.
2004 was the breakout year for easyhome. The company doubled its
same store growth goals, increased customer count by over 16%,
increased units on rent by 24% and increased earnings by 117%.
In 2005, easyhome continued its dominance by achieving the
highest RTO industry revenue growth rate in North America,
increasing revenue by 16.5%, meeting its store revenue growth
target of 7-9% and growing its customer base 16%.
Also in 2005, easyhome cut by half the estimated population
necessary to support an easyhome location from 40,000 to 20,000.
The revised estimate was based on extensive market testing and
resulted in easyhome entering more rural markets and raising its
potential store count to 300.
easyhome's mission is simple and clearly stated : "We are a relationship driven business that
thrives on the opportunity to provide customers access to
household goods and services that enhance the quality of their
lives."
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RTO Online is the official channel for Rent-to-Own Industry News and the
only independent source of news for the rent-to-own, rental-purchase,
lease-purchase trade. RTO Online (Rent to Own Online) represents the choice
of the entire RTO Industry for trusted information, as it happens. |
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