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Custom Wheel Rent to Own Franchise Wheel Workz To Sell Area Development Agreements
09-24-07
RTO Online - The rent to own industry's trade website
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Johnny Wilson Joins Wheel Workz Board of Directors
Custom Wheel Rent to Own Franchise Wheel Workz To Sell Area Development Agreements

 

Wheel Workz is the only franchise opportunity that offers sales, service, rent to own and wheel repair.
Dale Ingram, CEO, Wheel Workz

Memphis, Tennessee based Wheel Workz is offering RTO industry entrepreneurs the opportunity to capitalize on the exploding rent-to-own and retail custom wheel market.

Americans spent nearly $7 billion dollars on custom wheels and other accessories to improve the appearance of their vehicles in 2005. Memphis, Tennessee based Wheel Workz is offering RTO industry entrepreneurs the opportunity to capitalize on the exploding rent-to-own and retail custom wheel market.

"The automotive rent-to-own industry represents nearly the same market percentage as computer rent-to-own or about 4.7%," says Dale Ingram, CEO of Wheel Workz. "The potential for growth is tremendous." Ingram said the company is aggressively seeking RTO dealers for franchise area development agreements nationwide.

Prime Time Group Inc., an investment group with holdings in areas as diverse as wireless phone service to oil and gas, recently purchased development agreements for the state of Florida as well as the Caribbean, Brazil, Panama, Argentina and Venezuela (see story). The company said in May of this year it planned to open as many as 50 Wheel Workz franchise locations in Florida.

"We're doing what it takes to get stores open," said Ingram. "Wheel Workz is the only franchise opportunity that offers sales, service, rent to own and wheel repair. Wheel repair opens the door to do service work on all cars, not just not just the cars with custom wheels."

Wheel Workz carries custom wheels for all vehicle types including high end cars like Lamborghini, Ferrari, Bentley, BMW and Mercedes. The company takes pride in being the choice for professional athletes and stars. Wheel Workz new slogan is - "Where the athletes and stars bring their cars."

For franchise information, contact Wheel Workz at 888-366-8832.

Wheel Workz founder Tommy Crenshaw was featured in the Feb/March, 2007 issue of RTO Magazine.

10 Questions for Tommy Crenshaw; founder and president of Wheel Workz
Re-printed from the March 2007 issue of RTO Magazine, the rent to own industry's leading trade publication.

Q: When did you first open Wheel Workz and how did you transition from the retail sale of tires and wheels to rental tires and wheels?

A: I started The Wheel Connection in 1992 and brought investors into the business in 1998. We attempted to grow through corporate-owned stores and were not successful. I took back control of the company in 2000 and changed the name to Wheel Workz. We first ventured into the rental concept in January 2005.

Q: What percent of your business is retail versus rental?

A: Currently, 75% of our business is retail and 25% is rental.

Q: When did you realize renting tires and wheels was not just possible, but profitable?

A: I first became aware of renting tires and wheels in the mid-1990’s and although it caught my interest, I did not pursue it then. We run a large retail operation and I implemented the rental concept as a solution to declining retail profit margins and as a way to help move obsolete inventory.

Q: How difficult is it to find the right employees? How much training is involved to become proficient with installations?

A: I have to admit that the one key obstacle to running a profitable business today is hiring and retaining the right employees. We offer our salespeople unlimited earning potential, they are paid commission on the gross profit dollars they generate. It takes a good 2-4 months for a new retail salesperson to get comfortable with the different applications and plus sizing. On the installation side, we invest in the very best high end tire and wheel mounting and balancing equipment. Our technicians take a lot of pride in getting the installation done right the first time. We are well known for our ability to correct problems caused by improper installations at some of the lower end rim shops.

Q: Describe your best potential rental customers...

A: Our best potential rental customer is a customer who really wants to purchase a tire and wheel package but does not have the $2-3,000 cash up front. They usually have a little bit of money saved up and we put them into a rental agreement or 120 days same as cash.

Q: What makes Wheel Workz different?

A: It is a “wheel rental bandwagon”; the customer who wants 28’s on his Hummer is a cash customer! Wheel Workz is a little different from the rent to own stores in our ability to draw the high end consumer. We are known as the place “where the athletes and stars bring their cars”. We service all makes and models and specialize in the ability to make these vehicles ride right on any tire and wheel package. We also offer wheel repair and original equipment wheels for sale at discounts up to 80% from dealer list price.

Q: Like any item that is purchased based on appearance, wheels must have trends. What wheel and tire trends are you following for the next year or two?

A: For the next few years the trend will continue to be larger and larger wheel diameters. We see the mainstream customer going up to 22” or 24” as the largest size. There are some customers going 26” and larger, but we will focus on the 24” and smaller market. We do a lot of black and chrome and custom colors and chrome and see this market segment growing as the customer wants a look that no one else has, a look that he can feel is his own.

Q: Is your eBay store profitable? Could you ever find a way to rent wheels or tires via the internet?

A: Our E-Bay store was set up to liquidate obsolete inventory and was not meant to be profitable. When you carry the amount of inventory that we do, obsolete or old inventory is always a problem. I do not see a way to rent tires and wheels through the internet. You want to see that customer in your store every week or two to monitor their payment ability and also look at their vehicle for any potential problems.

Q: What are your plans to franchise the Wheel Workz concept?

A: We opened our first franchise store in January of this year and hope to have ten stores under wrap by the end of 2007. We definitely lean towards quality instead of quantity and want to make sure that the Wheel Workz name is associated with the best place to buy or rent tires and wheels.

Q: Describe your dream vehicle – wheels, rims and all.

A: Wow, that’s a tough one! I am a car nut, and I’m blessed with the cars I have now and I get to accessorize and drive exotic cars every day. Not many people get to do what they really enjoy doing and make a living at it. I have a Dodge Magnum RT dropped on 24’s and a Chevy Avalanche with a 6” lift on 20’s with 35” tall mud tires. I have owned several Porsches, the last being a 1998 Carrera C4S. My dream car is the new Dodge Challenger concept car. I grew up with a 1970 Dodge Challenger convertible and wish I could find it now. That new Challenger might just fulfill that wish!



 

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