Rent-to-own News - Industry stats are best defense in down economy -- deadline October 31

The fiscal health and viability of the rent-to-own industry is best reflected in the statistical data accrued from its members and presented to the public.

Especially in sour economic times, the more robust that financial data, the more clearly the rent-to-own story is told and the more bankable the industry becomes to lenders and investors.
 

And there is no more authoritative document on the financial health and well-being of the rent-to-own industry than APRO's Annual Statistical Survey.

However, without the participation of APRO members -- the deadline for submission has been extended to October 31 -- this valuable document cannot exist and the viability of the industry is compromised.

"The value of your business is based on the value of your industry which is based on the economic picture the statistical survey generates," said Richard May, APRO Public Affairs Director. "This survey validates the reason your business exists, why it is valuable to consumers, the economy and the investment community. If you want to add value to your business, sit down and fill this out."

The comprehensive financial analysis is the economic touchstone of the rent-to-own industry and is used by Wall Street, bankers, legislators, policy makers, the media and the public to clarify and promote the unique role the industry plays in the economy.

May said he fields from 5 to 20 calls per week from financial analysts inquiring about the industry and  the APRO Statistical Survey is the walk behind the talk.

Greg Heggemeier, senior vice president for St. Louis based Southwest Bank, whose company lends to Missouri and Illinois RTO companies, said the APRO Statistical Survey provides an important barometer and is one of many tools bankers use to make lending decisions.

"Bankers thrive on statistics," Heggemeier said. "This survey shows how you compare to your peers and it's especially important to a lender who may not be knowledgeable about the industry. It adds a level of professionalism to the industry and is a very valuable service APRO provides.

Terry Beville, CFO of Buddy's Home Furnishings, said the statistical survey is the bread and butter of the industry's economic message. Beville was one of the architects of the most recent version of the statistical survey, which has been simplified considerably.

As an APRO member, keeping the survey up to date through member participation is an obligation he doesn't take lightly, he said. The ramifications are too great.

"There's no need to be afraid of this survey," Beville said. "Even if  you can't provide all the information, some is better than none. We owe it to our industry because not only do our bankers need it, but so do our legislators in Washington who are trying to get a bill passed to define our transaction. For them, this information is crucial."

In addition to investors, pundits and policy makers, product manufacturers, service providers and business schools depend on the results of the report to better promote and serve the industry nationwide.

Click here, to take a shorter, more succinct version of APRO's online survey.

Members will need to register a new account on the site, as it is not affiliated with the APRO Web site, e-communities or related user access fields.

Industry Insights will compile and analyze the data, which will be subjected to strict confidentiality agreements. The data is submitted via a 128-bit SSL secure website and maintained on a secure server.

No APRO staff member, industry company or individual outside of Industry Insights will have access to the submitted data. Upon receipt of survey information, all company identification will be removed and a confidential code number assigned.

Participants will receive a free copy of the aggregated industry report and an individualized Company Performance Report that will compare company reported figures to the aggregated results of other similar sized businesses.

Non-participating APRO members can purchase the final report for $500.

Take the survey.

For assistance completing the form contact Greg Manns at Industry Insights, Inc. at 614.802.2310 ext. 108 or by email at gmanns@industryinsights.com.

For additional questions, contact Richard May at 800/204-2776 or by email at rmay@rtohq.org.