People naturally follow success. And that's what ColorTyme cultivates and supports: successful franchise owners.

Photo/ColorTyme

Bob Bloom, president and CEO, ColorTyme. This article appears in the current issue of RTO Magazine, the rent-to-own industry's leading trade publication - download the E-book version.

By Bob Bloom, president and CEO, ColorTyme

Throughout the past five years, ColorTyme has steadily grown its new franchise base. Although it's become increasingly difficult for many entrepreneurs to find the financing they need to pursue their dreams of owning a business, ColorTyme continues to match franchisees with a financing program that fits…and works. This process is centered on working closely with franchisees and offering strong financial incentives, such as working capital loans combined with 100 percent inventory financing.

Today, it's small business owners who have become beacons for their communities. They are once again the cornerstone for U.S. economic development. Without a doubt, the passion required to be a small business owner can spread fast and cultivate a strong following. Their relentless support for their hometown neighborhoods influences others to pursue small business ventures as well. People naturally follow success. And that's what ColorTyme cultivates and supports: successful franchise owners.

ColorTyme recognizes the difference that small business owners make: It's their ingenuity and personal drive that fosters a healthy business. And that's why ColorTyme approaches franchisee relationships with a keen focus on success and steady growth. Over the past five years, the company has added 114 stores and 50 franchise owners to its system. It's that kind of growth that has sustained ColorTyme's business for the past 30 years.

Once the franchisee opens their first store, they share a common bond with 90 other ColorTyme owners. The support from other franchisees is an advantage that is unsurpassed in the rent-to-own industry. ColorTyme's franchise owners are friendly and willing to help newcomers thrive.

But the support doesn't stop there. ColorTyme has some of the best training in the industry. Its ColorTyme University program is top-notch and offers three courses: CTU for owners, CTU for store managers and CTU for regional directors. This follows 20 comprehensive online training courses, exclusive to ColorTyme.

ColorTyme helps independent business owners integrate into a system and follow a plan to profitability. That plan is further buoyed by the company's efforts to offer new store opening support and its latest new store design. As its franchise system grows, the company remains faithful to its mission: Focused on the franchisee and upholding a brand with a successful track-record. That's the ColorTyme difference.

Here's what some franchise owners have to say about their ColorTyme experience:

"ColorTyme has provided me with a great plan for store growth. In addition, I didn't have to deal with the banks. I worked directly with ColorTyme on my financing. Plus, the field support makes it all an easy step-by-step process to get a store open and running. Freedom and independence is what ColorTyme provides to all its franchise owners. They let you carry the products you want and set the pricing that fits your store. You can also provide input on how your store should look. At other franchise companies, it's all cookie-cutter. ColorTyme lets you be a little entrepreneurial. Other companies may mandate your store opening process and day-to-day business. ColorTyme gives you all the tools necessary to be successful."
--Shawn DiLeo, multi-unit franchise owner in Kentucky

"My store has grown faster than I had anticipated – especially compared to my original business plan. It's been a big benefit having a lot of other franchise owners to talk with. The support I received not only from other franchisees but also from ColorTyme's franchise consultant, Ted Schlaack, was invaluable. If I owned a different rent-to-own branded store, I would eventually become frustrated with somebody telling me which products to buy and how to run my business. ColorTyme doesn't do that and it makes all the difference."
--Steve Dwyer, franchise owner in Connecticut

By providing comprehensive franchise finance packages and being listed on the SBA's Franchise Registry, ColorTyme is prepared for any challenge. Once the proper financing is in place, the company can provide assistance with site selection and lease negotiation. This is crucial for many first-time franchise owners who are searching for the perfect store location.

ColorTyme also offers marketing, purchasing, legal and public relations support; inventory management; and low inventory costs. Through ColorTyme.com, the company offers owners a customized Web site for their store. This can be updated with new product offerings and specials for customers – all controlled by the franchisee.

With the support of loyal vendors, ColorTyme offers its owners a "one stop shop" for product purchasing – all the top name brands, latest models, direct from the manufacturer. Instead of establishing credit with several vendors, each franchisee works with a single purchasing representative – assigned specifically for them.

The ColorTyme brand and business is built on a solid foundation. For 30 years, it has helped define the rent-to-own industry's current successes. And it's that reputation that remains paramount to the company's growth and accomplishments. ColorTyme will definitely be around for another 30 years.