What separates RimTyme from its competition is better economics and brand stability.

Photo/RTO Online

Tim Hogan, Vice President Operations, RimTyme

By Tim Hogan, Vice President Operations, RimTyme

Some of the greatest products and advertising initiatives have been created by franchise owners. McDonald's Big Mac hamburger was created by Jim Delligatti, one of the company's first franchisees. Little Caesar's famous advertising "Pizza! Pizza!" catchphrase was the result of franchisee ingenuity. The same applies to RimTyme. ColorTyme Franchise Owner Jim Moore decided to offer custom wheels and tires. Later, he opened several ColorTyme Custom Wheels stores. Evolving from Jim's inventiveness, the RimTyme franchise business was born.

RimTyme's culture, values and franchise structure evolved directly from the ColorTyme organization. But, custom wheels and tires invite a different, more unique customer to the showroom floor. And that's the RimTyme difference: it combines all the benefits of the rent-to-own transaction with the excitement of "tricked-out" cars and trucks.

However, the RimTyme franchise experience isn't all about a store full of shiny new rims and unique tire brands; it's also about how the company can help new franchisees get the proper financing they need to open their store. Leveraging its relationship with ColorTyme, new owners receive the same financial incentives, including working capital loans combined with 100 percent inventory financing. RimTyme is also listed on the SBA's Franchise Registry – a key development to support incoming franchisees.

Plus, RimTyme offers extensive and personalized training programs and new store opening support. The company also provides each store with a personalized Web site – with customizable deals and specials – that's controlled by the franchisee. The franchisee is also in control of their purchasing. Gone are the days of having to establish credit with multiple product companies. Franchise owners work with one RimTyme purchasing representative who works with multiple manufacturers to obtain products for the store.

Custom wheels and tires is an exciting business. It tempts a loyal following from auto enthusiasts looking to add eye-candy to their vehicles. The RimTyme brand matches well with this demographic. By offering some of the more popular wheel and tire brands – KMC Wheels, XD Series, Sumitomo, Pirelli – RimTyme is prepared for any customer who desires to amplify their "ride."

What separates RimTyme from its competition is better economics and brand stability. The company truly believes in the spirit of "people helping people." This means that RimTyme cares about who its franchise owners are and what they can do for their communities. RimTyme franchisees are big supporters of the people who walk through their doors. They know their customers…and their customers know them – it's a simple hometown approach.

For the franchise owner, RimTyme is an opportunity with all the right components: strong financing options, buying power, skilled training programs, simplified operations, real estate and legal support, and customized orders for customers. By offering all this, the RimTyme brand is helping shape the overall custom wheels and tires rent-to-own business. As more and more franchise owners join the system, the brand is evolving and becoming more refined.

Similar to ColorTyme, the RimTyme franchise ownership opportunity is a formula that works; the company offers entrepreneurial independence, strong brand support, and a growth plan that aims for success and profitability. And RimTyme is growing because of it. With 13 franchise locations and 11 corporate-owned stores, RimTyme is a brand with a clear future.

Of course, let the RimTyme franchise owners provide their point of view:

"The RimTyme brand allows traditional rent-to-own professionals to apply a proven business model to new and exciting products and services. More importantly, it opens up a new customer base to the rent-to-own ownership option and a new distribution channel to wheel and tire vendors. Customers now have access to a product that they've never truly had access to before. We've almost eliminated all the economic barriers to obtain this kind of product. Previous to RimTyme, the traditional wheel and tire company sold to a few stores in the area. With RimTyme, they're selling to the rent-to-own industry and they're moving more product. Hopefully, if you do it correctly, you're introducing a new customer base to the rent-to-own option."
--Eric Malone, multi-unit franchise owner in North Carolina

"I owned an independent rent-to-own wheel and tire store. We joined the RimTyme program, which allowed us to talk to other franchisees and the folks that run the organization. It caused us to reevaluate our business. It made a big difference and we're still making improvements after switching to RimTyme. The primary reason I joined up with the RimTyme franchise is for the financing and banking programs. And business has been good. Of course, lately, everybody has had their apprehensions with the economy. But, we've had a very good increase in business, 2009 over 2008, on the rental side. And, we do great retail business as well. We felt that if we were going to grow, we needed to be part of a national franchise chain. RimTyme was that perfect opportunity. And this business is exciting to me. Dealing with cars and old cars is a lot of fun. It was a natural fit."
--David Deignan, multi-unit franchise owner in Georgia

"It's an explosive industry that reminds me of the RTO industry in the early 80s, very exciting. Your customers want to drive in and drive out today with rims on their car, something we are able to do with RimTyme's financing programs."
--Jim Moore, multi-unit franchise owner in North Carolina, South Carolina and Tennessee