Rent-to-Own

Aaron’s today announced that the Board of Directors has elected interim CEO Ronald W. Allen as President and Chief Executive Officer of the Company.

Mr. Allen served as Chairman and Chief Executive Officer of Delta Air Lines from 1987 to 1997, and has been a member of the Aaron’s Board since 1997.

"The Board has worked closely with Ron as interim CEO and believes he has the experience, energy and business acumen to lead Aaron’s into the next era of continued growth and expansion," said R. Charles Loudermilk, Sr., Chairman of the Board.  "Ron has been an active and vital member of our Board of Directors for 15 years.  We are quite pleased with his commitment to daily involvement at Aaron’s while offering his guidance and leadership as President and CEO."

"As a result of the vision and leadership of Charlie and more recently Robin Loudermilk, Aaron’s has grown into the great Company it is today," said Mr. Allen.  "As I reflect on what has made Aaron’s such a great success, it’s clear that Aaron’s 57-year heritage of industry leadership, superior business model and execution, and our experienced and motivated management team and associates are the Company’s greatest assets.  I’m pleased to work alongside all of our associates to help millions of customers choose Aaron’s as their specialty retailer of choice."

www.aaronsinc.com.

It’s no secret that more Americans are shopping online, but the speed at which sales are moving to the Web is striking.

According to a recent report from the Commerce Department, $61.8 billion of retail sales were transacted on the Internet in the fourth quarter of last year, according to the Wall Street Journal.

That represented a 16% increase from 2010 and accounted for 5.5% of all retail activity over the holiday period. E-commerce’s market share has soared eightfold since 1999, and even over the deep recession only experienced a brief lull not a retreat.

Online shopping is particularly popular during the holidays, but even accounting for seasonal variation nearly 5 cents of every retail dollar spent went online. And that figure leaves out money spent on services like travel, financial brokers or ticket agencies.

“Cyber sales are soaring since more people feel comfortable buying online, and the real game changer this past holiday season has been the increased use of smart phones, tablets, and iPads to shop online,” said economist Chris Christopher of IHS Global Insight. “Online retailers are starting to make a dent in the brick-and-mortar business model. Many chain stores are looking to cyber space to supplement weak in-store sales.”

This is especially true of retailers that sell media or electronics. A separate Commerce report shows that sporting goods, hobby, book, and music stores have seen their share of all retail sales flat-lining at around 2%, while electronics and appliance stores also are losing share — down to 2.1% from 2.5% prior to the recession. Things look even worse for brick-and-mortar establishments when you take into account that their online sales are counted in that report. Take away their Web sales and their share of all retail sales is surely falling.

But there are still some brick-and-mortar retailers who have little to fear from the Internet. In the fourth quarter of 2011, gas stations represented 11% of all retail sales, up from 10% during the recession and 7% in 1999. Part of that is due to rising prices at the pump, but gas also is something you still have to go out to purchase.

Of course, the more people can do from home the less use they will have for their cars. So maybe gas stations aren’t totally immune after all.

The Premier Companies ended their 2012 National Convention in Key West Wednesday night with the always anticipated Awards Banquet. Premier congratulates all the award winners for their hard work, dedication and success.

Shooting Star Award
Awarded to stores that gross revenues in the sixth full month of operations reach
Rental-Purchase Stores $45k
Home Furnishings Stores $55k
Wheel Workz Stores $45k
Shooting Star Award Recipient:  DANNY SAPIEN, PREMIER HOME FURNISHINGS GALLUP, NM
 
Stellar Awards
Bronze Level
Awarded to stores whose annual gross revenues exceed $700k
Kim & Gerald Jacobs – Lynchburg, VA
Brian Clussman, Trinidad Rubio, Roy Soto – San Antonio, TX (2 stores)
Shawn Newman – Harrisburg, PA
Rich Bagoly & Dave Jones – York, PA
John George – Lackawanna, NY
Drew Summa – Oakland Park, FL
Mike Lewis – Elkhart, IN
 
Silver Level
Awarded to stores whose annual gross revenues exceed $850k
Jamie & Rick Sieverding – Clinton, IA
Brian Clussman, Trinidad Rubio, Roy Soto – San Antonio, TX
Rich Bagoly & Dave Jones – Reading, PA
Ron Semelsberger – Coshocton, OH
Scott Kinnear – Dayton, OH
Mike Shuler & Heath Peters – Hastings, NE
Jim Forker – Sturgis, MI
Mike Gordon – Lakewood, CO
Jack Rowland – Sacramento, CA
 
Gold Level
Awarded to stores whose annual gross revenues exceed $1M
Chris Mueller – Tampa, FL
Brian Clussman, Trinidad Rubio, Roy Soto – San Antonio, TX
Rich Bagoly & Dave Jones – Allentown, PA
Rick Vadnais – Syracuse, NY
Mike Shuler & Heath Peters – Kearney, NE
 
Diamond Level
Awarded to stores whose annual gross revenues exceed $1.2M
Jim Forker – Benton Harbor, MI
Danny Sapien – Los Lunas, NM
Jim Ratner & John Reichenbach – Westbrook, ME
Ted Krygoski – Portage, IN
 
Top Performers of the Year – Those who represent the values of Premier: Operational Performance, Premier Standards, Premier Involvement, Industry Involvement, Community Involvement, Certification Training Program:
Rick Vadnais
Chris Mueller
Jim Ratner & John Reichenbach
Jamie & Rick Sieverding
Scott Kinnear
Mike Shuler & Heath Peters
Rich Bagoly & Dave Jones
Brian Clussman, Trinidad Rubio, Roy Soto
Jim Forker
Danny Sapien
 
North Carolina Premier Rental Purchase Dealer Jim Forker is the Rental Dealer of the Year for 2011.

The Premier Companies 2012 National Convention ran January 9-11 at the Casa Marina Resort in Key West, Florida.
 

Buddy’s managers become owners

Buddy’s managers make it official and purchase an ownership interest in company franchise group (L to R): Richard Petree, Charles “Chaz” Wilson and Larry Lee.

Buddy’s Home Furnishings franchise group, BREG Group LLC, today announced three of its active managers have become owners in the business.

Their ownership was solidified at a “signing party” in Fayetteville, Arkansas recently as Richard Petree (Springdale, Arkansas), Charles “Chaz” Wilson (Fayetteville, Arkansas) and Larry Lee (Pittsburg, Kansas) officially became members and shareholders of the LLC.

“We are so appreciative for what they have accomplished," said Joe Gazzo III, president of Buddy’s and a managing member of BREG Group LLC.

"They earned this for themselves and their families. BREG Group, which was started by long time Buddy’s employees, was the first company to open Buddy’s stores outside the southeast and this was the first group of managers to take the leap of faith and join the team. They had very secure positions with other companies but wanted something more for themselves and their families. Their success provided the model for our subsequent expansion. Along with Chuck Haver, Director of Operations, they are ‘The Reason’ Buddy’s stores are opening nationwide."

Buddy’s Home Furnishings, originally known as Buddy Bi-Rite, was founded in 1961 by Mr. Norman "Slat" Slatton, Sr. Selling used appliances from his home, Mr. Slatton had a dream that one day he would have an appliance store of his own where he could service the demands of the growing Tampa area.
 
A few years later, Mr. Slatton’s dreams were realized when he opened his first appliance showroom. Driven by an intense desire to succeed, Mr. Slatton built his business one satisfied customer at a time, and soon the Buddy Bi-Rite name became synonymous with quality appliances, low prices, and old fashioned service.
 
Over the next 15 years, Buddy Bi-Rite prospered and, by the end of the 1970’s, had sold more televisions and appliances that any other independent dealer in the Tampa Bay, FL area.  In 1979, Mr. Slatton recognized that a growing number of young families were not able to purchase a new television or appliance because they either lacked good credit or were unable to come up with a large down payment.  It was at this time that Buddy Bi-Rite introduced the "Rent-to-Own" plan.
 
The overwhelming popularity of Buddy Bi-Rite’s "Rent-to-Own" plan fueled the company’s expansion into other towns throughout Florida, and now many other states.  Today, Buddy’s Home Furnishings has 107 corporate, franchise and licensee locations in multiple states, including Florida, Georgia, Arkansas, Louisiana, Oklahoma, Kansas, Texas, New Mexico, Arizona, North Carolina and Tennessee. Future stores being targeted are in Texas, Arkansas & more. 
 

Amiga is leveraging technologies developed by IContain, Ltd. to launch a product line for the Rent to Own market. The IContain Protects Amiga family of consumer electronic products will include laptop computers, all-in-one PCs, Android tablets, cell phones, televisions, 3D televisions, and PCTVs (televisions with built in computers).

“From NASA to Disney, everyone loved Amiga in the past for its innovation," says IContain CEO Todd Kleperis on the collaboration. "It only makes sense that they would lead the charge with a revolutionary new way to enhance personal connectivity. We are extremely happy to have a partner in bringing the next line of connected devices to market and helping the RTO world.”

Integrating IContain’s systems into these products provides enhanced lender security. The self monitoring software/hardware security solutions eliminate the need for traditional payment collection methods which can be intrusive and damaging to customer relations.

These products provide the Rent To Own industry an avenue to reach previously untapped markets by creating unprecedented levels of financial security when leasing to under-banked and high-risk consumers.

"Amiga has continued to work on bringing new products with new partners, and we are pleased to be working with IContain providing new hardware and software solutions that will benefit everyone." adds Amiga CEO Bill McEwen.

Amiga holds the intellectual property related to the AMIGA personal computer that was developed and sold by Commodore International and Amiga Corporation, including hardware designs, software, operating systems, trademarks, and other intellectual properties.

Amiga also produces and distributes enabling technologies and applications for wired and wireless devices that provide technology to developers for writing and porting applications to a new multi-media operating system that is hardware agnostic, enabling applications to run unchanged on x86 and other processors. For more information visit www.amiga.com

IContain provides advanced wireless technology solutions that remotely manage and protect your assets. Our technology enables human to machine and machine to machine communications that provide location information, collect data, work as remote switches, and automate tasks that scale to even the largest demand.

You will see efficiency increase, and waste decrease, as you manage your systems with our powerful hardware/software M2M communications solution. To find out more please visit www.i-contain.com

For more information about the new product line please visit www.icontainprotects.com.

RentDirect Nationwide, a division of Nationwide Marketing Group (NMG) and the rent-to-own industry’s largest buying and marketing organization, announced  its partnership with Banner Marketing.

For more than 25 years, Banner Marketing has managed retail and rent-to-own marketing programs for dealers and manufacturers. Banner’s new partnership with rent-to-own’s leading furniture manufacturers, and RentDirect, will provide members with a quarterly, furniture, vendor-funded circular and POP program.
 
“RentDirect Nationwide recognizes the intricate needs of the rent-to-own dealer. They need the most aggressive buying programs in the industry and marketing initiatives that increase foot traffic into stores. We are pleased with the integrated marketing program that Banner Marketing offers our members,” said Executive Director of RentDirect Nationwide James MacAlpine.

Each dealer’s program is highly customizable with 500,000 circular options to choose from at little or no cost to members. Customization options include various themes, page position, and products from a host of participating manufacturers including Ashley, Catnapper, Classic Flame, Coaster, Klaussner and Steve Silver.
 
“We are excited to help RentDirect members grow their businesses through innovative marketing,” said John Dresel, CEO of Banner Marketing. “At Banner Marketing, we have spent years perfecting marketing strategies that bring customers through the door, and we look forward to sharing our expertise with RentDirect members.”
 
Banner Marketing will be exhibiting at PrimeTime!, North America’s largest buying show and conference for appliance, electronics, and furniture independent dealers (www.nationwideprimetime.com <http://www.nationwideprimetime.com> ) on February 20- 23, 2011 at The Venetian in Las Vegas. Those who register by January 24, 2011 will be entered into a drawing for a free three night hotel stay, dinner for two and tickets to see the Blue Man Group, Phantom of the Opera or Jersey Boys at The Venetian.

To find out more about the benefits of joining RentDirect Nationwide including an invitation to PrimeTime! by Nationwide, contact James MacAlpine at (336) 722-4681 or email questions to jamesm@nationwidegroup.org.

Watch RentDirect Primetime membership video here.
 

Trycera Financial a diversified financial services company, announced today that it received a legal opinion from the National Credit Union Administration (NCUA) stating that when making a creditworthiness determination, Federal Credit Unions (FCUs) must consider information presented by a member that is not included in a traditional credit report.

Citing the Equal Credit Opportunity Act (ECOA) Regulation B, the NCUA affirmed that at an applicant’s request, creditors must consider alternative credit information not reported through a credit bureau when the information relates to the same types of credit references and history the creditor would consider if reported though a credit bureau.

ECOA Section 702 defines credit as "…the right granted by a creditor to a debtor to defer payment of debt or to incur debts and defer its payment or to purchase property or services and defer payment therefore."

Examples include traditional monthly bills such as apartment rent, utilities, phone service, insurance, and rent-to-own payments in addition to term loans, revolving credit, and mortgages.
 

Unlike conventional debt financing, the rent to own process is designed to provide you with immediate use of the big-ticket household appliances, furniture, computer, auto supplies, or electronics which you need right now, without requiring a credit check, or even a down payment. Whether you only need an item temporarily or if you want to purchase eventually but do not want to assume debt obligations, the rent to own process is designed just for you.

1. Easy Financing: First, meet with your rent to own dealer and discuss your needs and financial situation. You will find that the rent to own process does not require you to have a credit history, since you are not borrowing money, but are only renting the items you need. At the end of the rental agreement, you own the items outright.
2. Flexibility: The rent to own process allows you to change the terms of your agreement in response to changes in your needs or financial situation. If money gets tighter, you can easily arrange to lower payments and extend the payment period. Or, if you want to, you can purchase the item outright before the agreement terminates (and save money by doing this).
3. Easy Termination: You are free to terminate the agreement at any time, for any reason, without incurring any penalty of any kind. You may return any item at any time, for any reason. If you later want the item back, the rent to own process allows you to pick up your payment history right where you left it off (with no penalty or extra fee required). If you want to exchange any item for another one, this is also easy to arrange just by altering the terms of your agreement (without losing your already-invested equity).
4. Delivery to Service: The rent to own process includes delivery to your door, set-up and service for the life of the agreement.

Convinced? Find a rent to own store near you to get more information on your rent to options. You can be assured the members of the Association of Progressive Rental Organization are there to help you step-by-step through the rent to own process.