"Our simple, uncomplicated transaction gives us an effective competitive edge."
Ed Stanko
President and CEO

Rent Rite, a privately held rental purchase corporation based in Boca Raton, Fla., announced the opening of its newest rental purchase store in Charleston, South Carolina.

This marks the 90th opening in just over 60 months. Rent Rite is the fastest growing privately held retailer in America, according to the Fall 2003 issue of INC. Magazine and the 5th largest rental purchase chain in the nation. The new store in Charleston is the first Rent Rite store in the coastal South Carolina area. According to the company, it will not be the last.

"The Charleston market represents an excellent opportunity for continued growth as it has a lack of rental purchase stores, which makes this market very desirable," said Ed Stanko, president and CEO of Rent Rite, Inc. "Our simple, uncomplicated transaction gives us an effective competitive edge." This year Rent Rite has opened stores in Anderson, Columbia and Greenville, South Carolina and is looking to expand into other regions in the U.S. "The market is huge, growing and underserved, " said Stanko.

"Rent Rite is like no other store on earth," says Eugene Crew, manager of the Charleston store. "We carry top name brand products at low weekly prices, and allow customers who have been turned away by traditional retailers the opportunity to obtain the items they need and dream of most. Everyone is automatically pre-approved, and any customer only needs a source of income, a place to live and a few referrals. We are excited to bring this concept to the Charleston market."

To date, more than 110,000 people have switched to Rent Rite from other traditional rent-to-own stores.

According to Tom Mitchell, Rent Rite’s Chief Financial Officer, "Rent Rite’s rapid growth is due to the dedication of our 500 employees and the Company’s financial strength, enabling acquisitions of existing rental purchase chains, as well as new store openings in markets throughout the eastern U.S."