Rent-to-own franchises – Wheel Workz
Wheel Workz LLC
Dale Ingram (info@wheelworkz.com)
PO Box 172172
Memphis, TN 38187-2172
800/779-3639, ext. 401; fax 901/869-1715
Company-owned stores: 0
Franchise-owned stores: 12
Expansion plans: Wheel Workz just signed a contract with a new company, now called Southern Wheel Workz LLC, which has an area agreement to open up 25 stores over the next five years throughout Florida, Brazil, Panama and throughout the Caribbean; also, a third franchise-owned store will be opening in Nashville, Tennessee, soon. The type of franchise owner they’re looking for: Someone who loves cars, has the financial backing to buy into the franchise and who has a lot of enthusiasm for the business.
Why they’re different: “I think we have more of an all-inclusive system that contains sales, service, repair and rent to own,” says Premier Wheel Workz President Dale Ingram. “If you compared us to other rent-to-own stores that sell a few tires and wheels, we’re probably a tire-and-wheel store, which is complete with sales, service, repair and that also does rent to own.” In fact, a typical Wheel Workz store sells product 75 percent of the time and rents the rest. The concept also aims for wealthy and affluent customers as much as anyone else, says Premier VP of Operations Tommy Crenshaw. “We’re a destination for high-performance vehicles.” Ingram notes that the company slogan is: “Where athletes and stars bring their cars.”
What they’ll do for you: It runs the gamut, from sales to shipping. “We take a lot of the guesswork out of it,” says Ingram. “We take away the learning curve.” Crenshaw elaborates: “Anyone can learn this business in two or three years, but through us, you can be an expert in two or three months.”
License master franchise rights: Yes
Selling primary multiple store location agreements: Yes
Selling franchise agreements for just one store: Yes
Active franchisee advisory board: “No, but we will have,” promises Ingram. “That’s very important to us.”
Net worth of candidate: $500,000
Franchise fees: $30,000
Royalties: 5 percent
Advertising co-op: 2 percent