Rent-to-Own

The November-December issue of RTOHQ: The Magazine is hitting rent to own home offices around the country this week and features a plethora of information including an analysis of the new health care law, a run down of the top RTO software companies and a public relations checklist to get the most out of 2011.

Table of Contents:

How the New Health Care Laws Might Affect Your Rent-to-Own Business
by Ed Winn III

Regardless of their opinions of the law or their current business
practices, rental dealers must comply with the 2,400-page Patient
Protection and Affordable Care Act. APRO’s general counsel offers a
few observations on specific regulations within the law that might
impact rent-to-own businesses most.

Rent-to-Own Software: Profiles in High Tech
by Kristen Card

Almost all rent-to-own companies use software programs custom designed
to suit the specific needs of our industry. Meet the men and women who
connect rent-to-own and computers, high-tech professionals from RTO
Pro Software, High Touch Technology Solutions, RSSS, Ideal Software
Systems and Rental Information Systems.

Are You PR Prepared?
by Richard May

APRO’s public affairs director cites some highly publicized PR case
studies—the good, the bad and the really ugly, including some of the
rent-to-own industry’s PR follies of the past—and stresses the
importance of developing a solid public relations policy.
 

Carrico named Ronald McDonald House Chair

Larry Carrico

Larry Carrico, CEO of SKC Enterprises in Mt. Vernon, is the new chairman of the board of directors of Ronald McDonald House Charities of Metro St. Louis.

“The Ronald McDonald House is a fantastic organization,” Carrico said. “We have co-workers and clients who live outside of the 50 mile perimeter of St. Louis that may have used the House in their time of need. Serving as the new chairman allows me to give back to an organization that has helped many people I have a personal contact with."

"Whenever I share a story with a group about the RMHC I always hear an individual story of how the House has touched a child’s life. I am honored to accept the position of chairman,” Carrico continued.

SKC Enterprises is a rental purchase business with 51 stores and almost 400 employees in Illinois, Missouri, Indiana, Arkansas and Tennessee.

Carrico began his relationship with RMHC about 10 years ago, when he began donating televisions to each of the eight long-term RMHC apartments through one of his businesses, Rent One. He also implemented a successful employee giving campaign for RMHC, raising more than $40,000. He hosts several fundraisers to help RMHC, ranging from golf outings to softball tournaments.

Carrico served as the public relations and marketing committee chair for five years and also serves on the development and executive committees.

“Larry has been a great friend to RMHC over the years and we are so excited that he has been appointed as the new chairman of the board of directors,” RMHC President Dan Harbaugh said.

For more information about the Ronald McDonald House Charities of Metro St. Louis, visit www.rmhcstl.com or call 314/773-1100.
 
 
 
 

Larry Carrico

Larry Carrico, CEO of SKC Enterprises in Mt. Vernon, is the new chairman of the board of directors of Ronald McDonald House Charities of Metro St. Louis.

“The Ronald McDonald House is a fantastic organization,” Carrico said. “We have co-workers and clients who live outside of the 50 mile perimeter of St. Louis that may have used the House in their time of need. Serving as the new chairman allows me to give back to an organization that has helped many people I have a personal contact with. Whenever I share a story with a group about the RMHC I always hear an individual story of how the House has touched a child’s life. I am honored to accept the position of chairman.”

SKC Enterprises is a rental purchase business with 51 stores and almost 400 employees in Illinois, Missouri, Indiana, Arkansas and Tennessee.

Carrico began his relationship with RMHC about 10 years ago, when he began donating televisions to each of the eight long-term RMHC apartments through one of his businesses, Rent One. He also implemented a successful employee giving campaign for RMHC, raising more than $40,000. He hosts several fundraisers to help RMHC, ranging from golf outings to softball tournaments.

Carrico served as the public relations and marketing committee chair for five years and also serves on the development and executive committees.

“Larry has been a great friend to RMHC over the years and we are so excited that he has been appointed as the new chairman of the board of directors,” RMHC President Dan Harbaugh said.

For more information about the Ronald McDonald House Charities of Metro St. Louis, visit www.rmhcstl.com or call 314/773-1100.
 
 
 
 

Rent-A-Center acquires The Rental Store

Rent-A-Center on Wednesday, announced the acquisition of The Rental Store (TRS), a Scottsdale, Arizona-based company that operates 145 rent to own kiosk location through third-party retail furniture and electronics stores.

The Company acquired TRS for $75.5 million on a debt free basis, using a portion of the purchase price to pay off all of TRS’ existing debt.

"We are very excited about adding TRS to our RAC Acceptance business which we believe significantly accelerates the expansion of this growth initiative and increases our opportunities for further growth in this area," said Mark E. Speese, the Company’s chairman and chief executive officer. "In addition, given our track record of successfully integrating acquisitions, we believe this transaction will create additional value for our stockholders, adding approximately $100 million in revenue and $15 million in operating income next year."

Rent-A-Center also announced it has sold a majority of its customer accounts at approximately 207 financial services store locations and will close seven financial services store locations in Montana at by the end of 2010.

Rent-A-Center the nation’s largest rent-to-own operator, Wednesday announced the acquisition of The Rental Store (TRS), a Scottsdale, Arizona-based company that operates 145 rent to own kiosk location through third-party retail furniture and electronics stores.

The Company acquired TRS for $75.5 million on a debt free basis, using a portion of the purchase price to pay off all of TRS’ existing debt.

"We are very excited about adding TRS to our RAC Acceptance business which we believe significantly accelerates the expansion of this growth initiative and increases our opportunities for further growth in this area," said Mark E. Speese, the Company’s chairman and chief executive officer. "In addition, given our track record of successfully integrating acquisitions, we believe this transaction will create additional value for our stockholders, adding approximately $100 million in revenue and $15 million in operating income next year."

Rent-A-Center also announced it has sold a majority of its customer accounts at approximately 207 financial services store locations and will close seven financial services store locations in Montana at by the end of 2010.

Rent-A-Center donates furnishings to Brees Foundation

L to R: Rent-A-Center’s Chief Marketing Officer Ann Davids, Drew Brees and Brees Dream Foundation Board Member Chris Stuart in New Orleans Wednesday.

Rent-A-Center Wednesday, sponsored an hour long Super Bowl special in New Orleans featuring New Orleans Saints quarterback and city philanhopist Drew Brees.

Read more.

L to R: Rent-A-Center’s Chief Marketing Officer Ann Davids, Drew Brees and Brees Dream Foundation Board Member Chris Stuart.

Rent-A-Center Wednesday, sponsored an hour long Super Bowl special in New Orleans featuring New Orleans Saints quarterback and city philanhopist Drew Brees.

After the shoot, company executives surprised the Super Bowl Champion by donating the residential furnishings and television used on the set to the Brees Dream Foundation — a non-profit mission committed to advance research in the fight against cancer and provide care, education and opportunities for children in need.

Dubbed "Inside the Rings, with Troy Aikman," the show will air on FOX, Sunday, February 6 at 1:00 p.m. ET.

Since its inception in 2003, the Brees Dream Foundation has committed and/or contributed more than $6,000,000 to charitable causes and academic institutions in the New Orleans, San Diego and West Lafayette/Purdue communities.

Local ColorTyme teams up to provide food for local charity

The ColorTyme rent-to-own franchise in Lexington and its neighboring grocer, Save-A-Lot, recently joined to spread goodwill for the holidays. Thanks to their partnership, ColorTyme delivered approximately 6,000 pounds of donated food to The Nest, a non-profit center for women, children and families.

Read more.

The ColorTyme rent-to-own franchise in Lexington and its neighboring grocer, Save-A-Lot, recently joined to spread goodwill for the holidays. Thanks to their partnership, ColorTyme delivered approximately 6,000 pounds of donated food to The Nest, a non-profit center for women, children and families.

Happy to have been a part of the giving effort, Jeremy Rhodus, ColorTyme store manager, said the contribution was the right thing to do.

“No family should ever be without food, especially during the holidays,” he said. “With Save-A-Lot’s generous donation, we filled an entire box truck with groceries. It’s a good feeling to know the food will provide meals for hundreds of families at The Nest and help make it a nice Christmas for them.”

The Nest is a social service agency that provides a safe, accessible and healing environment for children, while developing the strength and self-sufficiency of women and families through education, support, counseling and advocacy. Shawn DiLeo, franchisee of the ColorTyme store, said the donation will be an annual tradition.

“This is the start of something big for ColorTyme, Save-A-Lot and members of this community,” DiLeo said. “At ColorTyme, helping others is a core part of our business, and we are always willing to support people in times of need. We look forward to donating our time and feeding families though this partnership for many years to come."
 
The participating ColorTyme and Save-A-Lot stores are located on Winchester Rd. in the Eastland Shopping Center.

ColorTyme, Inc., founded in 1979, is America’s oldest franchisor of independently owned-and-operated rent-to-own stores. ColorTyme franchisees operate 195 rent-to-own stores in 33 states, and the company’s custom-wheels-and-tires franchise brand, RimTyme, operates 21 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 (NASDAQ: RCII).

Rent-A-Center, the nation’s largest rent-to-own operator, today announced its Board of Directors has declared a $0.06 per share cash dividend for the first quarter of 2011 to be paid to the Company’s common stockholders. The dividend will be paid on Jan. 26, 2011 to common stockholders of record as of the close of business on Jan. 5, 2011.