Rent-to-Own

Premier Rental-Purchase dealers Chuck Botts and Bart Stamper have teamed up with former Aaron’s regional manager Fred Reed to open the newest Premier store in Memphis. They celebrated their opening in a big way with over 200 agreements in their first weeks in business.

“We came in at the right time,” says Botts, a 10-year industry veteran who opened his first Premier store in Nashville in 2005. “We are meeting the need in Memphis with good service from a great staff. Everyone around here is glad to see us!”



On the path to becoming a Premier franchisee, Botts followed in the footsteps of several RTO friends who he watched open up Premier Rental-Purchase stores. He was eager to get into business for himself and saw Premier as the vehicle to do it.

“Financing seemed to me like impossibility,” he admitted. “Trooper Earle [Premier’s President/CEO] helped me put together a plan that banks couldn’t say ‘no’ to. I walked into one bank and 20 minutes later had a ‘yes’. It proved to be the easiest part of the whole process.”

Botts has enjoyed success in the Nashville area and lives up to his philosophy for customer service that he sums up by saying, “You service your customers to death.”

His friendship and new partnership with Stamper developed over the years through the Premier dealer network Stamper got into RTO cold turkey. Coming out of a family fireworks business, he was the business brain of a trio that opened two Premier stores in 2003. Stamper is thrilled with the quick success his new store is experiencing. And while he admits to challenges that have accompanied the benefits of business ownership over the years, he says Premier has been there for him and he has enjoyed being part of its growth.

“I liked Trooper, and because we got involved with him early in Premier’s history, I’ve been involved in a lot of the maturation process with Premier. Trooper has given me a lot of personal time and we’ve shared many ideas back and forth. To see where Premier was and where it is today and know that my input has gone into the process is pretty cool."

Adding to what promises to be a successful venture is Botts’ former boss from Aaron’s. Reed had dreamed for years of owning his own business, but getting the financing and finding the right partners were two stumbling blocks for him. Management experience at U Can Rent, Rent-A-Center and Aaron’s more than qualifies him to own an RTO store. He remembers clearly the moment he knew the time had come to take that step.

“I was at one of my stores, and I opened up an RTO Magazine and saw Chuck’s face. He was talking about Premier and how he got into business for himself after watching his friends take the plunge. I called him up and said, ‘Chuck, if you can do this I certainly can!’ I took a trip to his store and was impressed. We began hatching a plan that included partnering with Bart. And here I am.”

Taking Ownership to a Different Level

Reed says he was drawn to Premier’s flexibility as well as array of dealer oriented services, such as human resources, that are available but never forced upon a franchisee. “I’ve been very impressed with Premier. They have taken the word “ownership” to a different level. At other places I’ve worked, we always taught our guys to run their stores like they were an owner.

But not one person we were talking to ever had been an owner. So that was a pretty broad statement that no one truly understood.” Now, Reed says, he is tuned in to how much more there is to owning a store versus merely operating one.

“Premier opened the door wide not only to being an owner but to having the opportunity to learn the different aspects of ownership. In a corporate structure you don’t get to build a relationship with vendors, for example. My knowledge was limited on such things as merchandising and price structure. But that has changed through the dealer training I’ve received at Premier. And where I am strong, I can really take off.  Another example – I have a better relationship with my customers, and that has been great.”

With the grand opening behind them, Botts, Stamper and Reed are sailing through the holidays, making their projections. Distinguished for their customer service, they like to boast the fact that they are locally owned and operated. “People rent from a person not a company,” Reed says. “That is why our motto rings true. We are the people you know and trust.”

The national office of Premier Rental-Purchase is located in Williamsburg, Virginia. All Premier stores are independently owned and operated. Visit Premier’s website at www.premierrents.net or call (800) 2-Premier and ask for Trooper Earle.
 

Newly-certified to comply with mobile digital television (DTV) technology now being deployed by American broadcasters, LG Electronics is introducing the industry’s first portable, battery-operated mobile DTV in the United States, designed to receive new rugged over-the-air signals being transmitted by local broadcasters.  With hundreds of stations expected to sign on the air using the newly-minted technology in 2010 and with demand for truly mobile, portable TV reception on the rise, LG will officially introduce the DP570MH Mobile Digital Television with DVD Playback here next week at the 2010 Consumer Electronics Show.

“It’s easy to receive Mobile DTV broadcasts with LG’s new Mobile Digital Television set, which comes equipped with a built-in antenna and the ability to play DVD and CD discs.  Even on a fast-moving train, a viewer should expect robust reception from favorite local channels – unlike some small digital TV sets currently on the market,” said Tim Alessi, director of product development, LG Electronics USA, Inc.

A First for Mobile Viewers

Ideal for reception of Mobile DTV any time, virtually anywhere, and at any speed, the DP570MH Mobile Digital Television offers the flexibility of both over-the-air reception and the convenience of built-in DVD playback.  Equipped with stereo speakers and a 7-inch wide screen to display crystal clear digital TV images (at Wide QVGA resolution of 480×234), the LG Mobile Digital TV is designed so that its display screen can be tilted to the viewer’s preferred viewing angle.  When not in use, the clamshell-style screen folds down and the device shrinks to about 9.5-inches by 6.5 inches – or about the size of a small hardback book.

The DP570MH comes equipped to play DVD movie discs and audio CDs, and it can also display .JPG photos and play WMA music files from its USB2.0 connection.  The Mobile Digital Television comes equipped with two earphone jacks so that more than one passenger can enjoy Mobile DTV shows or movies in the back seat of the car, or on a train. Equipped with a removable battery that powers the device for up to 2.5 hours in TV mode or up to 4.5 hours during DVD playback, the device includes both AC and Auto power adaptors.

The DP570MH Portable Television with integrated DVD player will be available later this year at a suggested retail price of $249.

Mobile Digital TV:  LG’s Latest Innovation

“At every stage of the digital TV transition over the past decade, LG has assumed a leadership role,” Alessi said.  We started by shipping giant HDTV projection TV sets, which became the stunning flat-screen LCD and plasma HDTVs that are now the hub of today’s home entertainment systems.  We are proud to have sold millions of converter boxes last year for consumers with analog TV sets.

“Now we’re taking digital TV to a whole new audience – the mobile viewer.  Whether it’s at the beach house or in the back seat of a car with the kids, viewers want mobile broadcast TV wherever they go, and LG will meet that demand with products like our new mobile DTV-DVD player,” he said.

Co-developer of the technology at the heart of the Mobile DTV standard, LG began mass production of the critical component for Mobile DTV reception – the LG2160A integrated circuit (IC) chip – in June 2009. The latest version, the LG2160R single chip design that includes both the tuner and demodulator, is being released at CES. And, by March 2010, LG plans to release its next-generation mobile DTV chip, the LG2161R receiver IC, which is even smaller, consumes less power, supports various interfaces and provides improved performance.  

LG Mobile DTV chips already can be found in a variety of new products being introduced by various manufacturers at CES, from laptop USB accessory receivers to netbooks with integrated Mobile DTV tuners and a range of prototype devices being shown to retailers this week.  At CES, LG will demonstrate mobile phone prototype LG handsets as well as in-vehicle prototype products that could be available through automobile dealers or after-market retailers.

Standardized by the Advanced Television Systems Committee and formally adopted as the Mobile DTV standard just 12 weeks ago, the new Mobile DTV standard allows broadcasters to use a portion of the existing 19.4 Megabit-per-second DTV channel capacity to transmit data with extremely robust characteristics suitable for mobile, pedestrian and handheld applications.  The Mobile DTV signal is also compatible with 8-VSB DTV, which was also developed by Zenith, LG’s U.S. research and development lab.
 
About LG Electronics USA

LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a global force and technology leader in consumer electronics, home appliances and mobile communications. In the United States, LG Electronics sells a range of stylish and innovative home entertainment products, mobile phones, home appliances and business solutions, all under LG’s “Life’s Good” marketing theme. For more information, please visit www.LGusa.com.
 
About LG Electronics, Inc.

LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 84,000 people working in 115 operations including 84 subsidiaries around the world. With 2008 global sales of $44.7 billion, LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both A Global Partner of Formula 1™ and A Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lge.com.

Happy Holidays!

The staff of the Association of Progressive Rental Organizations wishes a happy holiday to rent-to-own professionals and their families across the country.

From: Laurie, Jeannie, Neil, Bill, Ed, Tulisha, Murlin, Shelley, Richard, Cindy and Sam The Cat!

SYNNEX Corporation, a leading business process services company, announced today it has entered into a definitive agreement to acquire substantially all of the North American assets of Jack of All Games, Inc. a wholly-owned subsidiary of Take-Two Interactive Software, Inc. 

The acquisition of Jack of All Games provides SYNNEX with an established distribution footprint in video game hardware and software, a $20 billion segment in the consumer electronics industry. SYNNEX will retain the distribution rights for game consoles, video games, PC software, and accessories from elite video game manufacturers and publishers including Activision Blizzard, Electronic Arts, Microsoft, Nintendo, Sony, and Take-Two. 

"Jack of All Games is a well-respected leader in this space. We are excited about the growth opportunities this acquisition brings, and the value we will create for our customers and vendors as we capture synergies with our core distribution business, particularly through our 2008 acquisition of New Age Electronics," said Kevin Murai, President and Chief Executive Officer of SYNNEX Corporation.

"Through this acquisition, SYNNEX will have a meaningful distribution presence in the video game market which extends our portfolio in the lifestyle segment. We anticipate the Jack of All Games business to be near-term accretive to our earnings. This business is also in alignment with our stringent ROIC growth targets."

In addition to the acquisition of Jack of All Games assets, SYNNEX will add approximately 200 employees throughout the United States and Canada.

Jack of All Games is headquartered in West Chester, Ohio. Pursuant to the asset purchase agreement, SYNNEX will pay a purchase price of up to $43.25 million in cash. This includes approximately $6.75 million in deferred payments, generally payable six months after the close and subject to certain post-closing conditions. The transaction, which is subject to normal regulatory and other approvals, is expected to close in the March 2010 timeframe.

For the twelve months ended October 31, 2009, Jack of All Games revenue was approximately $282 million. Additional details regarding this acquisition will be discussed during the Company’s fiscal fourth quarter 2009 earnings conference call to be held on January 5, 2010.

SYNNEX Corporation, a Fortune 500 corporation, is a leading business process services company, servicing resellers and original equipment manufacturers in multiple regions around the world. The Company provides services in IT distribution, supply chain management, contract assembly and global business services. Founded in 1980, SYNNEX employs over 7,000 associates worldwide and operates in the United States, Canada, China, Japan, Mexico, the Philippines and the United Kingdom. Additional information about SYNNEX may be found online at www.synnex.com. 
 

National TV Sales donates 10,000 lbs of food to needy Missouri families

When Lebanon, Missouri-based National TV Sales and Rental owner Kathy Windsor read what a heavy toll the economy was taking on a local holiday food drive, the wheels began to turn.

She "got the Rolodex to workin", started making phone calls to wholesale grocers and in a matter of just five days, her company purchased 10,000 pounds of food, enough to feed 500 needy Lebanon-area families, where before there had been food enough for only three families.

Read more.

When Lebanon, Missouri-based National TV Sales and Rental owner Kathy Windsor read what  a heavy toll the economy was taking on a local holiday food drive, the wheels began to turn.

She "got the Rolodex to workin", started making phone calls to wholesale grocers and in a matter of just five days, her company purchased 10,000 pounds of food, enough to feed 500 needy Lebanon-area families where before there had been food enough for only three families.

See photo gallery.

National TV Sales and Rental employees last night delivered truckloads of food to Free Store Ministries — a local  faith-based initiative. For the past several years, the organization has spearheaded the holiday food basket drive. But with donations down significantly, the mission needed a small miracle to meet its 500 family goal this year.

"I nearly drove off the road when Kathy called and told me what they had done," said Amber Meredith, Free Store Ministries executive director. "In the 11 years I’ve been doing this I have never seen a company step up and help out at this level before. Her understanding of the situation is just amazing and so genuine, it really, really touched me."

See video.

Around a dozen company employees this morning are helping to assemble the holiday dinner baskets alongside Free Store volunteers. Families are picking up the dinner boxes at the Lebanon community center today where they will receive a generous holiday feast including a ham, oranges, potatoes, three cans of vegetables, butter, a can of condensed milk, hot rolls and a pumpkin or pecan pie.

"With this donation, our goal was for all children and their families to have the same memory of Christmas my children had and that I had," Windsor said, "to be in a warm house eating a good meal. We wanted to give these families a hand up, not a hand out. It had to be done and we were glad to do it."

National TV Sales and Rental operates 17 rent-to-own stores in Missouri.

Introduction by APRO Executive Director Bill Keese,

This issue of RTOHQ: The Magazine focuses on how state rental dealer associations contribute to the general health of the rent-to-own industry and provide vital information and networking opportunities to its members so that they can better operate and manage their companies and stores.

While we wish we had the space to profile every state association, instead we’ve chosen a few that represent the broad span of possibilities within such organizations.

Some of these groups are at the top of their game; others are rising stars. All have faced an array of challenges that can help illuminate the importance of strong, healthy state associations. Leaders in Missouri, Florida, Illinois, Pennsylvania and Georgia provide us with their insight on what their associations have encountered and the opportunities they have provided their membership.

For those of you reading this issue who are members of every state association where you have stores: thanks! You know that your support is returned many fold to you in benefits. For those who have not yet experienced the nourishment and camaraderie of state associations, you owe it to yourself to get involved. In these days of uncertainty, 100 percent participation is no luxury.

Since the 1980s, APRO has provided a variety of services to all rental dealers wishing to establish, maintain or expand their state associations. Your current national president, Tiger John Cleek, began his APRO board involvement by creating our state association coordinating committee. For the past couple of years, Dave Edwards has assumed the chairmanship of that committee. APRO has a full-time  staffer, Jeannie Hutchison, to assist all state associations with anything they might request.

State associations, in partnership with a national association, have provided a successful business plan to protect and professionalize the rent-to-own industry. Whether you are a member or not, this combination has served you well. It is, thereby, only fitting that we dedicate this issue to all state associations and all current and former rental dealers who have made this possible.

Let customers know about your company’s new tax preparation service with Inform’s new effective and inexpensive "Tax Preparation" postcard mailing. 

InForm recently added a new addition to it’s line of stock postcards. The full color 4 X 6 "Tax Preparation" postcard is available with full color printing on the front and blank on the back, as a stock postcard or imprinted on the back with whatever message dealers want.

In addition, Inform will even mail the postcards all at a cost significantly less than the letter you would write and mail to customers.

Why use a postcard?

• Postcards are the economical way to get your message read and your name in front of all your customers.  No Folding Or Stuffing Involved.
• Whether it’s a reminder postcard or the announcement of your new Tax Services, InForm Print & Promotions has you covered. Plenty of designs to choose from, “Cash For Customers”, “Just A Reminder”, “Happy Birthday”, “A World Of Thanks”, “We Appreciate Your Business” and more.
• Stock postcards have vivid color pictures and captions as listed above to catch your customer’s attention.
• Back of the postcard is blank to handwrite your message or to accommodate printing your custom message. Printed in black ink to make your message stand out.
• Standard 4” x 6” size, can be mailed with postcard postage or get first class service at bulk mail rates!
• Affordable quantities as low as 100 postcards. Or save on larger quantities discounts.
• Advertising made simple, easy and affordable! Get your mail out, get it read and get results.

InForm Print & Promotions is committed to helping you grow your business. Visit the company website at www.shopinform.com to view the large assortment of stock postcards, ad specialty items, operational forms and much more.

For more information, call Chet Pensak at InForm Print & Promotions, 888/786-3676 or chet@shopinform.com

Register and make hotel reservations for APRO’s 2010 Legislative Conference

Register today for APRO’s 2010 Dave Egan Legislative Conference set for February 23-25 in Washington, D.C., at the L’Enfant Plaza Hotel. Make your hotel reservations by calling 202/484-1000 and request the APRO room rate of $249 single/double.

After 17 years of representing the rent-to-own industry before the U.S. Congress, APRO’s annual legislative conference is the legislative event of the year. APRO’s Legislative Conference is where rent-to-own dealers, employees and vendors unite on Capitol Hill to tell the rent-to-own story to members of Congress.

TUESDAY, FEBRUARY 23                   

1:30 – 2:30 p.m.    Board Meeting – Quorum Room

2 – 3 p.m.             Registration – Foyer A & B           
                               
3 – 5:30 p.m.        General Briefing Session – Ballroom A & B       
                               
5:30 – 7 p.m.        First Time Attendee/Welcome Reception – Solarium  

        
WEDNESDAY, FEBRUARY 24   

9 a.m. – 5 p.m.     Meetings on the Hill   

6:35 – 6:45 p.m.    Load buses in front of L’Enfant Plaza Hotel       

Conference Registration

Hotel reservations: L’Enfant Plaza Hotel at 202/484-1000, APRO room rate – $249 single/double

For more information about the APRO Legislative Conference, contact Jeannie Hutchison at 800/204-2776, ext. 108.
 

Register today for APRO’s 2010 Dave Egan Legislative Conference set for February 23-25 in Washington, D.C., at the L’Enfant Plaza Hotel. Make your hotel reservations by calling 202/484-1000 and request the APRO room rate of $249 single/double.

After 17 years of representing the rent-to-own industry before the U.S. Congress, APRO’s annual legislative conference is the legislative event of the year. APRO’s Legislative Conference is where rent-to-own dealers, employees and vendors unite on Capitol Hill to tell the rent-to-own story to members of Congress.

TUESDAY, FEBRUARY 23                   

1:30 – 2:30 p.m.    Board Meeting – Quorum Room

2 – 3 p.m.             Registration – Foyer A & B           
                               
3 – 5:30 p.m.        General Briefing Session – Ballroom A & B       
                               
5:30 – 7 p.m.        First Time Attendee/Welcome Reception – Solarium          

WEDNESDAY, FEBRUARY 24   

9 a.m. – 5 p.m.     Meetings on the Hill   

6:35 – 6:45 p.m.    Load buses in front of L’Enfant Plaza Hotel       

REGISTER NOW

Hotel reservations: L’Enfant Plaza Hotel at 202/484-1000, APRO room rate – $249 single/double

For more information about the APRO Legislative Conference, contact Jeannie Hutchison at 800/204-2776, ext. 108.