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RTO definition would add jobs,
opportunities and commerce to economy |
Harper recognized with Minority Small Business
of the Year award | ColorTyme's
largest franchiser opens three new stores | RTO
veteran opens ColorTyme store in South Carolina | Aaron
Rents names new vice president, general counsel | High
Touch helps hurricane relief effort | Aaron
Rents acquires six franchised stores | RentWay
acquires 12 Rent-A-Center stores | Upcoming
meetings | APRO kicks off membership
drive |
Dates set for "Heartland of America" show | Dealer
profile: Lyle Jones | RTO
in the news
RTO
definition would add jobs,
opportunities and commerce to economy
By Richard May
++With the recent destruction caused by a historic hurricane season,
Congress has turned its focus on economic stimulation and appropriations
packages to balance the economic losses and funding of hurricane
relief efforts. With increased congressional focus on the economy,
APRO and APRO members continue to educate legislators on the
importance of federal rent-to-own definition language and its
impact to the nation's economy.
++For the past decade, APRO members have been alerting their elected
officials to the importance of federal definition and, as a result,
have created close and important relationships with key legislators.
A coordinated legislative definition campaign is in effect and
is spearheaded by the APRO board of directors and the government
relations committee under the leadership of committee chairman
John Raines.
++The APRO grassroots network is coordinating meetings with senators
to educate them on the immediate economic stimulation that RTO
federal definition would create for the nation's economy and
to help the industry add the amendment into an appropriate moving
piece of legislation. If a federal definition bill passed, the
rent-to-own industry would experience immediate growth in New
Jersey, Wisconsin and Minnesota where the current state legal
environment has virtually eliminated small business growth and
RTO expansion. Comparing the populations to three similar states,
it is estimated that RTO definition language would provide an
additional $500 million annually to the nation's economy, providing
thousands of jobs and increasing the tax base. An RTO federal
definition would also raise the value of each rent-to-own business
and company, both public and private, providing investor, lending
and banking security for the industry.
++Congress is still
in the first half of its legislative session. The House has a
targeted adjournment date set for November 18 while the Senate
has set a planned adjournment for Thanksgiving. Both dates may
change due to the current legislative climate.
Harper
recognized with Minority Small Business of the Year award
++Former APRO board
member Mamie Salazar-Harper received the El Paso Minority Small Business
of the Year award on October 27. The award was presented by the U.S.
Small Business Administration and the El Paso Small Business Consortium
at the 19th annual Minority Enterprise Development Week awards luncheon.
 ++Harper,
a nearly 20-year veteran in the rent-to-own business, is the president
and owner of M Rentals in El Paso, Texas. Harper entered the industry
as a store manager trainee at a ColorTyme in Beeville, Texas. Within
a couple of years she became a district manager in south Texas and
in 1990, she was handpicked to take over a recently incorporated
ColorTyme store in El Paso, situated on the Texas/Mexico border. "I
was in the right place at the right time," says
Harper. "I always knew I wanted to own my own business. I always
thought if I'm going to roll the dice, I'm going to roll it on myself."
++Four years later, when the franchise agreement expired, she turned
the franchise into an independent store and went into business for
herself. Her first order of business was to rename the store. "I
changed the name to Fiesta Rent-To-Own to make the business more
Hispanic-friendly," says Harper. "I wanted my Hispanic
customers to feel more comfortable."
++Harper has been an
independent small business owner for 15 years. "Owning
your own business is really a great ride," says Harper. "Some
days are diamonds and some days are dogs, but you have to keep plugging
on." One of Harper's dog days came at the start of the first
Persian Gulf War. When Fort Bliss began deploying soldiers to the
Middle East, most of Harper's rental contracts were returned. Harper
solved the short-term problem with innovative marketing and addressed
the long-term problem by diversifying her market. M Rentals has expanded
into renting furniture and appliances to businesses for temporary
housing, offices and apartment complexes across the state.
++According
to Harper, her business and family are her focus at the moment; however,
she has been actively involved in the community and has served as
an advocate for the Small Business Administration, El Paso Women
in Business and the Association of Progressive Rental Organizations.
A six-year APRO board member, Harper also donated her time as the
APRO PAC chairman. Harper names federal legislation as one of her
top priorities. "I've been in the rental-purchase
business for nearly 20 years and I want to see the day the industry
receives federal protection," says Harper.
Three's
a charm: ColorTyme's largest
franchisee opens stores in Las Cruces,
Kaufman and Mission
++Mike Harwood is a man of few words, but much action. Ask his employees
about all the incentives he uses to build morale and loyalty. No
speeches, just cruises. The approach works well for Harwood and
has made him ColorTyme's largest franchisee with 37 stores.
 ++A pilot by trade,
Harwood first ventured into the rent-to-own industry in 1985, when
fellow pilot and mentor Eugene Teague encouraged him to buy three
ColorTyme stores in east Texas. Twenty years later, Harwood's TLH
Enterprises has expanded beyond its east Texas roots into south
and west Texas as well as New Mexico.
++"Harwood is
one of the most experienced ColorTyme franchisees out there," says
Chris Higgs, TLH's vice president of development. "He
loves the challenge of not only continually building the business,
but also taking care of his employees. He puts an enormous amount
of effort into training employees—empowering them to spread
their wings to make each store successful."
++Each year, Harwood
rewards his employees at top performing stores with a cruise, spouses
included. "He offers employees all
the tools to make each store a success," says Higgs. "Harwood's
team takes ownership of the stores where they work by ordering
merchandise and executing local marketing. It allows each store
to adapt in every community and accommodate our customers' needs."
++His dedication
to empowering people isn't limited to his business. TLH Enterprises
supports Kids Across America, a charity dedicated to helping inner
city children become leaders by encouraging and equipping them
through Christian sports camps. More than 5,500 children from 30
states participate each year. Harwood has also been instrumental
in getting ColorTyme Inc. involved with the organization.
++Harwood and his
team at TLH Enterprises, based in Corsicana, Texas, are celebrating
the opening of three stores in recent months—one each in
Las Cruces, New Mexico, and Kaufman and Mission, Texas.
++"It's important
to us that our customers know we are a locally owned business,
run by their neighbors," says Harwood. "We
want to offer our customers superior service by giving them exactly
what they want conveniently and affordably. This business is a
relationship business; our customers should expect to see a friendly
face when they come into one of our ColorTyme locations."
Rent-to-own
veteran opens
Colortyme store in South Carolina
++Franchise veteran Bob Kogler may have been around the block a time
or two in the rent-to-own industry, but he still takes a fresh
approach to customer service at his South Carolina ColorTyme stores. His second store—the first in Myrtle Beach—opened this
month.
 ++Kogler considers
every facet of his ColorTyme stores an opportunity to provide excellent
customer service. He hires knowledgeable, friendly people to work
in the stores but also defers to his wife's talent for home decor
to give his stores a warm atmosphere for customers to peruse the
latest furniture, electronics and appliances.
++"We treat
our employees just like our customers, with respect and dignity,
because it comes back to us in the end," Kogler
says. "We take pride in our stores because customers feel
the presence of our ColorTyme family when they walk in the door
and want to be a part of that. This is a people business and we
try to keep it that way."
++Before joining
ColorTyme in 1991, Kogler worked and became friends with current
Rent-A-Center President Mitch Fadel. Because of Fadel's success
in the rent-to-own industry and the autonomy ColorTyme offered
its franchisees, Kogler decided to give the industry a try with
little rent-to-own experience. After working for ColorTyme from
1991 to 1996, Kogler opened his first ColorTyme store in 1997 in
Wilson, North Carolina, and has since sold that store. Kogler and
his partners—his wife, Nan, and Tom Karrat—have one store in
Florence, South Carolina, as part of their company, Rent's-Myrtle
Beach Inc.
++"Because I
had spent a lot of time making money for other people, I decided
to take the opportunity to make money for myself," Kogler
says. "I wouldn't have been able to open the stores without
the financing and flexibility ColorTyme provides to secure the
inventory we need for our customers. Now we're on track to open
a new store every two years."
++ColorTyme customers
will also be able to take advantage of payday loans at CashTyme,
adjacent to the Myrtle Beach ColorTyme store.
Aaron
Rents names new vice president, general counsel
++Christopher
M. Champion has joined Aaron
Rents as vice president, general
counsel. "We
are pleased to have Chris Champion join our company," says
R. Charles Loudermilk Sr., chairman and chief executive officer. "We
expect his legal experience and abilities will significantly contribute
to the continued growth of Aaron Rents."
++Champion
has more than 10 years of corporate and legal experience in various
areas, including real estate, management of intellectual property,
acquisitions, litigation and financial transactions. Champion is
a member of the American Bar Association and the American Corporate
Counsel Association. He is a cum laude graduate of Huntingdon College
with a B.A. in Business Administration and earned his J.D. from
the University of Alabama School of Law.
High
Touch helps hurricane relief effort
++High
Touch is doing
its part in helping hurricane victims from Galveston to Tallahassee.
High Touch employees have doubled their contributions to the American
Red Cross through the company's match program. The company has
also steeply discounted replacement computer systems and waived
software license fees to its clients affected by wind and water.
++"We have contributed nearly $35,000 to the relief effort for
the 100-plus stores along the Gulf," says John Rogers, High
Touch director of sales.
++"As with all
other good causes in our industry, High Touch does their part and
more," says Bill Keese, APRO's executive
director.
Aaron
Rents acquires six franchised stores
++Aaron
Rents announced
in late October the acquisition of six Aaron's Sales and Lease
Ownership franchised stores.
++"We will continue to grow these stores as company-operated
stores," says R. Charles Loudermilk Sr., chairman and chief
executive officer of Aaron Rents. "They are located in markets
with excellent growth and profitability potential."
++The stores were
acquired from Georto Inc., a franchisee of Aaron's Sales and Lease
Ownership since 2000. The stores are located in Malden, Lynn and
Revere, Massachusetts, as well as two stores in Portland and one
store in Lewiston, Maine. The current combined revenue volume of
the six stores is approximately $415,000 per month and the purchase
price was $3.9 million cash, subject to final adjustments.
RentWay
acquires
12 Rent-A-Center stores
++RentWay announced on October 24 that it acquired the rental contracts
and merchandise of 12 rental-purchase stores from Rent-A-Center.
The purchase price was approximately $3.6 million. These store
assets will be merged into existing RentWay store locations.
++"We are pleased
to be able to acquire these stores and we expect the transaction
to benefit our existing stores almost immediately," says
William Short, RentWay president. RentWay is one of the nation's
largest operators of rental-purchase stores with 795 stores in
34 states.
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- SEMA (Specialty
Equipment Market Association), November 1-4, Las Vegas, NV, 909/396-0289
- Texas
Association of Rental Agencies' Situational Leadership Seminar,
November 9,
Shreveport, Louisiana, 817/539-0500
- PLEASE
NOTE: Nationwide/Rent
Direct's Prime Time convention is now scheduled for February
26 through March 1, 2006, and will be held in Las Vegas at
the Venetian Hotel. The show was originally scheduled
for February 15-18 in New Orleans, Louisiana. Due to
Hurricane Katrina, the location and dates have changed.
- Click
here to view the APROVision industry calendar of events
APRO
kicks off membership drive
By Laurie Hill and Richard May
++Why join APRO? The
value of APRO membership is the members. Take a moment to think about
that. It is estimated that there are 8,300 rent-to-own stores across
the United States and APRO members account for 2,500 of those stores.
That means a minimum of 2,500 rent-to-own experts are a phone call
away.
Now, let's think about APRO member employees. Did you know that approximately
13,750 voices of support, understanding and guidance are also only a phone call
away?
 ++The value of APRO membership
is the members. Just ask 15-year APRO member Dan Cole. "I have 32 stores
in Missouri and Illinois, so my association dues are not inexpensive, but I would
say the APRO dues are one of my best investments. Over the years in APRO, I have
made many friends, many business contacts and, most of all, learned many ideas
about sales, advertising, personnel and the rent-to-own business from the great
networking that my APRO membership provides. I would recommend an APRO membership
to anyone in the RTO business or to anyone considering going into the business," says
Cole, president of National Rent To Own in Bridgeton, Missouri.
++Networking is an important part of life. From growing your business to furthering
your career to expanding your friends, networking will benefit you every time.
An industry is only as strong as its association and an association is only as
strong as its membership. By joining APRO you support the future of your business,
the future of your employees and their families and most importantly, the future
of your family.
++Reap the benefits of APRO membership.
Call APRO at 800/204-2776, e-mail APRO's Director of Membership Laurie
Hill or
visit the APRO Web site to find out what membership special awaits you.
Dates
set for "Heartland of America" regional
trade show
++The "Heartland
of America" regional trade show dates have
been set for June 19-21, 2006. According to Missouri
Rental Dealers Association President, Chuck Kuluva, Kansas, Illinois,
Arkansas and Iowa have been invited to participate in next year's
show at the
Lodge of
the Four Seasons in Osage Beach, Missouri. "Our goal
is to have attendance from the four neighboring states this year
and to build from there each year," says Kuluva. More details
will follow after MRDA's annual meeting in February.
++On the eve of
his retirement, High Touch President Lyle Jones talks about
his career in rent-to-own, his future in a camper and what
it means to be the first vendor to win the APRO Lifetime Achievement
Award in this APROfile, which appears in the October-November
issue of Progressive Rentals. Click
here to read the profile.
Visit the APRO Web site or
call the APRO office at 800/204-2776.
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