By Lindsey Semon
RTO Consulting and Management

"BOR is just a number...it’s money that pays the bills"
Lindsey Semon, Owner, RTO Consulting

A good employee can be set up to fail without a good training program. We may sit them in a classroom to learn the difference between RTO and retail, but we don’t spend the time teaching how to sell, rent, and collect.

Does this sound familiar? "I advertise, run promotions, I even gave away $50.00 toward the first months rent, but our numbers were back in sixty days just like we never ran it."

Prologue: This article is about Rentals and Sales, but if you don’t have a good delinquency control program you will never grow, no matter how much you sell. You have to bite the bullet, pick up the non-payers, and rent to people who will pay. Remember BOR is just a number; it’s money that pays the bills and you weren't getting paid anyway. If your delinquency is completely out of control, you may need to implement an amnesty program. Whatever you decide, get control quickly, and maintain it.

Be Ready To Sell
Customers come in your store because they want or need something. You must be prepared to meet that want or need. Have price tags on everything. Insure POP material is displayed and rental order forms ready. Be prepared to hand out promotional materials if you can’t land the rental so the customer leaves with some type of incentive to come back. But most of all teach your personnel how to sell.

Successful Salespeople Are Good Listeners
Communication is as much about listening as speaking. Train your staff how to identify the needs of shopper and move quickly to satisfy those needs.

Benefits Of Rent to Own
At the next staff meeting, ask "Why would you rent instead of buying on credit?" You may be surprised at the lack of response. The first rule of salesmanship is to believe in your product. Train your employees on the benefits of rent to own in general, and renting from you specifically.

Lead By Example
Require all new employees to follow a successful salesperson around on the floor. Classroom training is a necessary component of any program but it will never replace real world experience.

Product Knowledge
Have you ever found yourself in the middle of a sales pitch and you run out of things to say? Product knowledge, an intimate knowledge of the features and benefits of a given item, is crucial to an effective rental. Never, ever assume your customer doesn't comparison shop.

Don't Take The Easy Route
Don't use free rent as a replacement for good salesmanship. Investing in a solid training program that produces good sales people will very often reduce free rent necessary to "close the deal."

For more information about RTO Consulting & Cash Services, call (704) 535-8808 or check out our Website at www.rtoconsulting.com