Rent-to-own News - ColorTyme Convention "Revs Up" with record attendance, awards, showcase

ColorTyme CEO Bob Bloom (r) presents Waipahu, Hawaii manager Mark Shaw with his seventh "Double Diamond" award.

More than 300 franchisees, vendors and staff are gathered today in Frisco, Texas to kick off the ColorTyme 2011 National Convention. The two-day event will focus on implementing core values and boosting sales as part of its “Rev It Up” theme.

“‘Rev It Up’ speaks not only to finding ways to increase revenues, but also changing the way you look at things and making the impossible possible,” said Bob Bloom, ColorTyme’s president and CEO. “It is time to grow our business, increase revenues and find ways to differentiate ourselves from the competition.”

This morning’s General Session featured many speakers including corporate staff and ColorTyme Franchisee Ray Bird, who addressed the audience with ways to enhance business throughout the year. Mitch Fadel, Rent-A-Center president and COO, presented the state of the rent-to-own industry and gave a positive projection into the future.

"As employment improves and consumer confidence improves, this is going to be the best time for rent-to-own in years," said Fadel, who also predicted Rent-A-Center's strong growth in Canadian and Mexican markets as well as with the companies RAC Acceptance Program.

ColorTyme Marketing Director Amy Woods rolled out ColorTyme's new Web site which features new store locator, and administrative back end customization features.

In addition, awards were presented to top ColorTyme managers across the country  in the Bronze, Silver, Gold, Platinum, Million Dollar and Diamond categories.

Managers Mark Shaw and Dean Traufler took home ColorTyme's top managers award, the coveted "Double Diamond" for running stores that exceeded $2 million in revenues last year.

'It's all about hiring the right people in your store," said Shaw, a seven time "Double Diamond" Award winner. "Customers come because of the relationship they have with their employees. And they see what we do in the community which is we are very involved in our local community. This is really an adrenaline rush."

Traufler could not attend this years conference.

Shaw manages the Waipahu, Hawaii store owned by Gary Hughes and Peter Landretti and Traufler manages the Middletown, Ohio store owned by franchisee Ken Schimpf.

Following lunch, franchisees took advantage of special buys on products and an opportunity to visit with some 30 vendor companies at the ColorTyme Buying Show Monday afternoon.

"This convention is always a  huge motivation for me throughout the year," said ColorTyme Franchisee Shawn Dileo. Dileo, based in Lexington, Kentucky also serves as an APRO board member. He added five new stores to his company between 2009 and 2010. "ColorTyme really gives you the independence and freedom to make changes in your business as you see fit. It really capitalizes on the independent minded spirit."

Attendees head out for fun and games at the Main Event tonight. The convention wraps tomorrow with a general session where the top franchisees are named and the company's top award, franchisee of the year, is presented.

See photo gallery of the event here.

ColorTyme is America’s oldest franchisor of independently owned-and-operated rent-to-own stores. ColorTyme franchisees operate 190 rent-to-own stores in 33 states, and the company’s custom-wheels-and-tires franchise brand, RimTyme, operates 20 stores in 11 states. ColorTyme is headquartered in Plano, Texas, and is an independent, wholly owned subsidiary of the largest RTO company in the world, Rent-A-Center.