demographic already tell us that at least 50 to 60% of our
current RTO customers have never used the rent-to-own agreement
Larry Sutton, President, Rent-N-Roll
Rent-N-Roll will begin a 3 year
re-branding process that will recast the company as a custom
wheel retailer with several payment options, including
rent-to-own. The new brand will be RNR Custom Wheels and Tires.
Larry Sutton, President of Rent-N-Roll, said, "For some time, we
have realized that to gain a stronger foothold in the 35 billion
dollar automotive aftermarket, we must find a way to position
ourselves as a wheel and tire store that offers several payment
options and attractive cash prices as well; as opposed to a
Rent-to-Own store with wheels and tires." Sutton said the
transition plan was developed by the company's Executive
Advisory Board (EAB).
In existing Rent-N-Roll ADI's, the company will transition over
a 2-3 year period. New locations will open immediately as
RNR. "As existing customers get more exposure to RNR branding,
we believe they will come to know and refer to us as RNR Custom
Wheels and Tires."
Sutton said the company has no intention of abandoning the
Rent-to-Own concept. "On the contrary, we believe this new
branding model will in fact bring more customers into our store,
providing us more opportunities to introduce a whole new
customer to the concept of Rent-to-Own. Our demographic already
tell us that at least 50 to 60% of our current RTO customers
have never used the rent-to-own agreement before."
RNR will will also be beta-testing additional Automotive
Aftermarket products in several markets. Recent survey results
indicate that typical new vehicle owners spend between $1,000
and $3,500 within 90 days purchase to create the custom ride
they want; custom wheels being the number one item.
Rent-N-Roll is on track to reach over 50 million dollars in
revenue this year, making it one of the largest custom wheel
chains in the U.S.
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