UGC represents a logical step to increase revenue and customer traffic within existing or new Rent to Own stores.

Photo/RTO Online

Tom Wurm, VP Operations, Premier UGetcha Cash.

By The Premier Companies

When traditional banks left the small loan market years ago, they left working families in need of cash with limited options for meeting sudden needs. Particularly hurt were those in financial crunches who certainly could not afford to bounce a check with overdraft charges at banks soaring. This sparked rapid growth in the payday loan industry and a renewed interest and support in recent months by lending institutions, clear evidence that consumers both want and utilize this service and are getting the response they deserve.

Responding to this consumer demand and recognizing at the same time that its rental-purchase dealers were in a key position to expand their operations and cross market, The Premier Companies launched its UGetcha Cash (UGC). UGC represents a logical step for the RTO professional to increase revenue and customer traffic within existing or new RTO stores. And, it is a proven concept. Premier owner/operators have begun to successfully combine payday lending and related services inside their stores and offer their customer base the convenience of one-stop shopping. They are allowing their consumer to effectively respond to short term financial needs, cash checks and pay a number of bills while capitalizing on increased sales opportunities driven by additional new customers. They have proven that Rent-to-Own can and will continue to evolve, and payday loans with or without other money service products are going to be the new look within the industry.

A Variety of Resources and Services

One of the five Premier Companies brands, UGetcha Cash is in a position to benefit from the many years of successful franchising within the Premier family. This unique position allows us the opportunity to offer small business owners and operators availability and access to resources and services such as human resources (including payroll, health insurance and benefits programs), real estate expertise, marketing services, computer software support, accounting, and legal advice.

UGC is committed to assisting RTO operators and companies outside the Premier family in implementing a training program that stresses the importance of cross selling from one product and company to another, taking full advantage of new and existing customer traffic within the store.

Brian Clussman, Premier Dealer, San Antonio, Texas
"We wanted another avenue to build additional traffic and add a new potential revenue source. We thought UGetcha Cash was a perfect fit for us. We opened our location within a Premier Rental store in San Antonio, Texas in January 2008. Premier helped us partner with someone here in Texas that had appropriate software and the lenders that we needed to be able to operate as a Credit Services Organization (CSO). While it has been challenging to run different operations within the same walls, it also is rewarding. We are helping customers with short term loans and are continuing to build our customer and revenue base. We are moving forward in both businesses and feel that they add value to one another. Overall, it has had a positive impact on us as an organization."

Ruben Flores and Joshua Goss, Bradenton, Florida
"Joshua Goss and I opened our UGetcha business last November at our Premier Bradenton, Fla. store because we saw an opportunity for a new income stream. We saw our current customers going elsewhere for cash services, and there was no reason they couldn’t have their needs met right here in our store. It has turned out to meet an increasing need, especially with the way the economy is right now. Premier was very helpful in getting us set up and in providing ongoing training and consultation on our books and marketing. This was a great business decision and is going well."

Tom Wurm, VP Operations, UGetcha Cash
"Like RTO, the payday Loan industry has experienced some negative regional scrutiny and press from well meaning individuals, presenting their personal values and beliefs as the much needed medicine for our national economic problems. Yet three major banks now have launched similar products, recognizing the legitimate need of ordinary citizens for quick, accessible short term loans to meet unexpected financial bills of one sort or another. The entrance of these traditional and previously inflexible lenders into our industry speaks volumes about the legitimacy and need for a short term loan product offering. Clearly, these banks have embraced the logic of increasing traffic and new shoppers into their existing core business by offering this product, and so can you."

For more information, contact Tom Wurm (757) 592-2719, TomWurm@ugetchacash.com, or visit www.ugetchacash.com.