Rent-to-Own

“You bend ‘em, we mend ‘em” is the new slogan at Premier Wheel Workz stores where customers not only can buy or lease wheels and tires, but they can come in to repair their bent rims as well.

While tire repair has been standard at Premier, new in-store wheel repair technology enables Premier dealers to offer the most comprehensive service to their customers who until recently have had to find a specialist for certain repairs and road force balancing.

“We do it all at Premier,” said Eric Marlin who opened a Premier Wheel Workz in Murfreesboro in 2008. Marlin and partner Mitch Robinson specialize in upgrading customers’ vehicles with a range of wheels and rims as well as quality tires. With the addition of the most advanced system for repairing wheels, they feel they now can take care of every customer’s needs and build a better relationship with them. “Our goal is to be the authority when it comes to wheels and tires. We are a one-stop operation. We can repair or replace any wheel, any tire,” says Marlin.

While retail represents a portion of Marlin’s business and is driven by high-end luxury and sports vehicle owners, he also caters to those looking for value. Like other Premier Wheel Workz dealers, he offers a popular lease-purchase option to customers who may not choose or be able to swing a cash or credit sale. The addition of wheel repair offers one more benefit to Premier customers who often can save the cost of replacing a set of tires, either by extending their life or because the tires weren’t the problem in the first place.

“Wheels are larger these days and tires are smaller,” said Marlin. “That, plus less-than-ideal conditions of city roads means wheels are more prone to getting bent. What often happens is a tire dealer will sell a customer new tires when the issue is the rim. In the end, people come to us to fix the problem that the regular tire dealer couldn’t, but not always until after the customer has purchased a new set of tires needlessly. If they come to us first, we’ll be able to determine how to help them most efficiently, and if the problem is their wheel, we will repair it and save them the money they would spend on tires. Everybody wins. The customer is happy and we have gained their confidence and can build a long-lasting relationship with them.”

The national office of Premier Wheel Workz is located in Memphis, Tn. For more information, contact Dale Ingram at 901/461-3671 or visit www.wheelworkz.com.

The Ohio Rental Dealers Association holds its annual spring business meeting March 24 at the Concourse Hotel and Conference Center in Columbus, Ohio.

The board will discuss it’s popular Midwest Training Expo — Sept. 21-22 — and review vendor presentations in addition to holding officer elections.

ORDA President Scott Kinnear, also an APRO board member, said the he anticipates turnout for the show to be on par with last year. The vendor training is a key element of the Expo and one local Ohio dealers should capitalize on.

"This show is very important for small independent dealers," Kinnear said. "It gives them to opportunity to combine their resources to get exposure to the training they need. That is the key focus of the Expo show."

Last year 160 dealers attended the show alongside 56 vendors. To date 29 rent to own companies claim membership in ORDA.

Kinnear, who is completing his first term as president, said he will run for a second term.

See last year’s Expo coverage here.

TRIB Group will turn up the heat at its annual convention and buy fair in two weeks, March 27- 31, when the rent to own industry’s largest member-owned buying group kicks off five days of meetings, award ceremonies and spring buying.
 
Hosted in Dallas, Texas at the beautiful Hilton Anatole, and co-located with BrandSource, TRIB Group’s event is open to all its members and approved vendors. The convention includes membership meetings, over 11 hours of buying time, the HOTSHOW — a signature rapid-fire buying event , Board of Director meetings, a golf outing, an awards celebration and plenty of  networking opportunities.

The theme for this year’s event is RTO on F.I.R.E. (foundation, innovation, reputation and exhibition).

As a special event is an off-site closing celebration at the all-new Dallas Cowboy’s Stadium in Arlington, Texas. All convention-attending TRIB Group members and vendors will be shuttled to the stadium for a night of dinner, drinks, awards and a private look at this amazing facility.

Download convention agenda here.

Download booth assignments here.

Download convention brochure here.

Download golf tournament registration form here.
  

Nationwide Marketing Group, the parent company of RentDirect Nationwide, announced that independent dealers cashed in on 20 percent more of instant rebate checks, over last year’s spring show, on products purchased at PrimeTime! held at the MGM Grand in Las Vegas last week.

In 2009, an excess of $12 Million in rebate checks were handed out to independent dealers who attended the popular bi-annual buying show and conference.

According to NMG, the largest buying group for independent dealers, this was also their second largest show to date bringing in 3,300 dealers and manufacturers representing almost 850 companies from across the country. The buying group also reported that the highest number of RentDirect Nationwide member dealers were in attendance and purchased more products compared to previous shows.

“Of course we are celebrating the success of PrimeTime! in Vegas but most importantly the success of our independent dealers who were able to overcome the challenges in retail last year,” said Robert Weisner, Executive Vice President of Nationwide Marketing Group. “Many have told us that the new opportunities, programs and services available each PrimeTime! helped them through a very rough year.”

The theme for the event, New Days, New Ways: Get Ready! resonated throughout the show which was jammed pack with a winning combination of millions in buying opportunities and cutting edge training.

Nearly 2,000 independent dealers attended PrimeTime! University. New business courses included an internet strategies series where industry experts taught dealers how to attract the growing number of consumers online. Dealers also learned how to get the most traffic to their websites and the importance of social media marketing through sites like Facebook and Twitter.

“The retail market and consumer profile has changed dramatically over the last few years,” said Ed Kelly, President of Nationwide Marketing Group. “In order to remain competitive, independent retailers must adapt to these new changes by learning what works and getting rid of what doesn’t.”

The next PrimeTime! event is scheduled to be held in the Washington, DC area at the Gaylord National on August 15-18, 2010. To learn more about PrimeTime! and the many benefits of joining Nationwide Marketing Group go to www.nationwidegroup.org or call (336) 722-4681.
 

Opportunity International today announced the appointment of Bill Morgenstern as CEO, replacing Kadita "A.T." Tshibaka who has served as interim CEO since April 2009. Tshibaka will assist with the transition over the next month and return to his former role as a member of the Board of Directors of Opportunity International.

"We are tremendously grateful for the leadership that Kadita Tshibaka has provided over the last year, and we are delighted to welcome Bill Morgenstern as our new CEO," said Peter Thorrington, Opportunity Board chair. "Bill has a remarkable track record of accomplishments as an entrepreneur, senior executive and servant leader. We are confident that Bill’s ability to rally a team behind a mission, focus its efforts and reach its goals will bring even more people to the work of Opportunity International."

Morgenstern and his team grew their rental purchase business, Rent-Way, from a single store in 1981 to a public company with 800 locations and nearly $600 million in annual revenue before selling the company in 2006. As CEO, Morgenstern directed several capital campaigns, including the company’s initial IPO in 1993 and several rounds of traditional bank financing.

As the business grew, he empowered each of his nearly 4,000 employees to be leaders and change agents in the organization, fostering a culture of dignity and respect. Morgenstern was recognized with the Ernst & Young "Entrepreneur of the Year" award in 1996.

Morgenstern’s nonprofit experience includes serving as a board member and board chair of Hamot Health Foundation, which operates a healthcare delivery system that reaches out to more than one million people in Pennsylvania, New York and Ohio. While serving on the board, Morgenstern partnered with the leadership team to develop and implement a strategy that helped the hospital become recognized as a regional leader in cardiac care. Morgenstern also has served on several nonprofit boards in his community, including the Juvenile Diabetes Foundation and Habitat for Humanity.

"I am tremendously honored to join Opportunity International and its almost 40-year history as a leader in the microfinance field," Morgenstern said. "The story of Opportunity continues to be the story of the people it serves. I am humbled to be given the chance to tell their stories and to work with Opportunity’s 10,000 employees around the world who support these hardworking people in their daily struggle to provide for their families."

Morgenstern’s passion to serve the poor is rooted in his community efforts as well as his work in Haiti caring for those suffering from poverty and disease. He has served in Haiti on a number of occasions through the church he attended in Erie, Pa.

"Bill is a man of great character, integrity and compassion," Thorrington said. "We are grateful that he has found his way to Opportunity International and joined our mission to empower people around the world to work their way out of chronic poverty, transforming their lives, their children’s futures and their communities."

About Opportunity International
Opportunity International provides small business loans, savings, insurance and training to over two million people working their way out of poverty in the developing world. Clients in over 25 countries use these financial services to start or expand a business, provide for their families, create jobs for their neighbors and build a safety net for the future. For more information, visit www.opportunity.org or join the conversation at Facebook and Twitter.
 

David Keen, employment development manager, and Mark Williams, VP of sales and marketing, at Rent One’s silver anniversary managers meeting.

Rent One this week celebrated its 25th anniversary at the company’s annual business meeting in Cape Girardeau, Missouri where more than 100 managers, their families and vendor partners turned out.

To commemorate the historic achievement, Rent One will raffle off a Harley Davidson motorcycle to one lucky customer this July as part of its annual "Customer Appreciation Days" campaign. Rent One meeting attendees will get a sneak peak at the bike this afternoon at the annual company meeting where outstanding Rent One leaders — including manager and vendor of the year — will be honored at a special awards banquet Wednesday.

Rent One also announced plans to open its 50th store this April in Batesville, Arkansas.

See photo gallery of the event.

Thirty ColorTyme  customers recently cashed in as names were drawn for the $30K Giveaway, and countless others won in-store prizes.

Held in celebration of the company’s 30th birthday, ColorTyme’s $30K Giveaway gave customers a chance to win $1,000 along with instant prizes in local stores. Rent-to-own customers registered for the grand-prize drawings Sept. 1 to Oct. 31 at their hometown ColorTyme store.

Out of 30 winners from 14 states across the U.S., four of them registered in Texas stores owned by TLH Enterprises. Vice President of South Texas Region for TLH Enterprises, Donald Salais, was very happy to see long-time customers win in Beeville, Corpus Christi, Rosenberg and Cuero.

"Many of our customers didn’t think they had a chance at winning, so it was refreshing to see the smiles on their faces when they did," said Salais. "I think the Giveaway really encouraged our customers and showed how much we value their business."

As part of the Giveaway event, ColorTyme also provided customers with a winning serial number that matched various prizes. Many customers automatically received big savings off a new rental or walked away with one of the store’s newest appliances, furniture, computers or electronics such as a name-brand TV.

"Our $30K Giveaway was a way for us to give back to our customers and thank them for all of their support over the years," said ColorTyme Director of Marketing, Amy Woods. "Our customers are like family, so it was important that everyone who visited ColorTyme during the promotion came out a winner."

To see a complete list of winners, visit http://blog.colortyme.com.

Bryce Jewelry rings in the new decade with an innovative bridal program that is a marriage of service and success.

The Bridal Plus package is the latest of Bryce’s creative marketing concepts designed to create a larger customer base with a lower investment. This compact program allows RTO dealers to benefit from a consistent and proven market – the wedding industry – with a lower initial investment than traditional jewelry rental programs.

“The bridal category has great potential and is the most consistent category in the jewelry business. It’s the biggest area for growth in RTO jewelry,” says Bryce Jewelry President Bryan Collins.  “Consider that there are over 40,000 weddings a week in the United States.”

For dealers who have never incorporated jewelry in their business, the ‘Bridal Plus’ program is a great place to start. Bridal Plus offers significant return on the investment. As with all of Bryce programs the dealer gets a turn-key program with exceptional customer service and ongoing sales training from your Bryce Representative.

Due to the continued ability to refurbish jewelry, these products have significantly longer lives than most rental merchandise increasing their earning potential above other RTO items. Bryce offers free refurbishing on jewelry, which allows items to hold their value indefinitely.

A year in the making, the ‘Bridal Plus’ program refines jewelry selections to include Bridal, Trio, Anniversary and Engagement rings and some additional staple pieces to round out the program. In today’s economy Bryce is concentrating on what will rent every day. Rental stores already have a built in cliental of about 40 customers that are married but don’t have wedding rings.

This alone could bring in substantial revenue. There is also a new group of bridal customers that can’t go to the jewelry chain stores and get credit anymore. This program will fit their needs. Unlike many luxury items, bridal rings continue to be in demand year round regardless of economic trends and they never go out of style. The greatest benefit of this jewelry program is that it is easy to incorporate into a daily sales routine, and while bridal rings draw in new customers, they provide a new opportunity for return customers. 

Because customer service is a Bryce company tradition, a representative will assist dealers in making ‘Bridal Plus’ a part of everyday sales strategy for the best results.

Bryce Jewelry staff know that success comes from service, and each dealer and market area is given individual attention. Bryce is the most experienced vendor in RTO jewelry and has earned that position by standing behind their products and offering dealers the training necessary to be successful with jewelry merchandise. As with all Bryce Jewelry programs, Bridal Plus comes with marketing material, ongoing representative support and a customized inventory.  

The ‘Bridal Plus’ package is a lasting marriage of service and success. Make a perfect match in 2010 with Bryce Jewelry.  Call 800/880-9434 to learn more.

DSI Systems’ 2010 electronics expo tour will cover three states and again offer dealers their choice of four breakout sessions in addition to a general DSI presentation.

Toshiba, Mitsubishi, LG, Sharp, Monster, DIRECTV, and more will conduct the breakout sessions for small groups on specific products. Dealers will be able to ask questions directly to the vendors and receive hands on training.

The majority of DSI’s vendors will also participate on the trade show floor, offering one-on-one time for dealers to see new products and answer any questions. Aggressive show specials will be offered to participating DSI dealers, including “Expo Dinero” rewards for dealers making purchases at the show.
 
The keynote address at the Dallas Expo will be delivered by Noel Lee of Monster Cable Products. Monster Cable Products was founded in 1979 by Noel Lee, who was then a laser-fusion design engineer at Lawrence-Livermore Laboratory, as well as an audiophile and professional drummer.

Lee discovered that wires of different constructions produced varying degrees of audio performance when hooked up to loudspeakers. From this discovery, he developed a high performance speaker cable, named it Monster Cable, and literally created an industry.

Monster has since innovated and led multiple attachment categories including power, headphones, gaming, iPod, Pro M.I., computer, and much more. Noel Lee was awarded the entrepreneur of the year award in 1996 by Ernst & Young for his innovative “M5” customer focused attachment selling program.
 
This year’s events will be held:
 
Wednesday, April 7th
Dallas, TX
Embassy Suites
7600 John Q. Hammons Drive
Frisco, TX  75034
 
Wednesday, April 28th
Des Moines, IA
Iowa Events Center
730 Third St.
Des Moines, IA  50309
 
Wednesday, May 12th
Columbus, OH
Columbus Convention Center
400 N. High Street
Columbus, OH  43215
 
 
To attend visit the DSI registration site at www.dsisystemsinc.com/dsiexpo to register. Classes are filling up fast and space is limited so register online or contact yourlocal account manager today. This is an event that can’t be missed.
 
About DSI Systems
DSI Systems, the largest national distributor of LCD, Plasma and DLP TVs, satellite equipment and accessories, is dedicated to efficient customer service, strong product lines, one to two days shipping and dealer programs to assist retailers with their promotional and floor plans. To begin a working relationship with DSI’s dedicated team, retailers are invited to call 800/888-8876. Visit DSI on the web at www.dsisystemsinc.com. 
 
 

DSI Systems understands the challenges to a dealer’s cash flow and profitability created by the complicated manufacturer consumer instant rebate programs that more and more manufacturers are utilizing to drive sales.

In response to those challenges, DSI developed a rebate claim process in 2009 that allows dealers to make their rebate reimbursement claim through DSI. This process allows a dealer to receive the rebate reimbursement at the end of the rebate program instead of weeks or months after the program ends. 

“DSI continues to work with the manufacturers to expand participation in the program. Currently, several of DSI’s largest TV manufacturers participate," said Doug Robison, president of DSI Systems stated,  DSI Systems continually looks for ways to increase profitability and efficiency for our dealers so that they can spend their time selling to consumers. This is just one example of the value we bring to our customers.”

To utilize DSI Systems’ online rebate claim process, dealers need to only be authorized to sell the participating manufacturers’ lines, purchase eligible models from DSI, and have a log-in enabled for the DSI Systems website at www.dsisystemsinc.com. For more information, please call your local account manager at 800-888-8876.
 
About DSI Systems

DSI Systems, the largest national distributor of HD televisions, satellite equipment and accessories, is dedicated to superior customer service, strong product lines, efficient logistics, and dealer programs to assist retailers with their business planning. To begin a working relationship with DSI’s dedicated team, retailers are invited to call (800)888-8876. Visit DSI on the web at www.dsisystemsinc.com.