Association of Progressive Rental Organizations

Get to Know Your Vendor Advisory Committee | Richard Formoe

Name: Richard Formoe

What is your current title/role?

I am Co-Founder and CEO of Paydit Inc., a collections automation platform for businesses.

How many years have you been working in rent-to-own?

I’ve dedicated over ten years to the RTO industry, serving in multiple capacities. I began as a delivery driver for TRS Inc. dba Bargain City Sales & Rental, and played many multiunit roles for Rent-A-Center – including Division Manager and Regional Division – as well as on the AcceptanceNOW/Acima side of the company.

How did your career path lead you to work with RTO?

Fate!

What is your favorite thing about rent-to-own?

The RTO offering is significantly important to many communities. It provides anyone with an opportunity to own retail items they’ve always dreamed of owning, and it gives them the flexibility to continually upgrade those products, which traditional financing won’t let them do.

What has been your proudest professional moment?

I’m proudest of giving back by serving our country in the United States Air Force.

Why did you want to be a member of APRO’s Vendor Advisory Committee?

I love this industry, and I want to help propel it forward. Rent-to-own needs to innovate, evolve, and embrace the everchanging environment, so that it continues to be around for customers for decades to come. I believe I can help with that.

What issues do you hope to work on, and what sort of difference do you hope to make, during your time on the VAC?

I want to bring new ideas and new vendor opportunities to help the industry grow.

What’s your favorite non-work-related way to spend your time?

I love to golf, fish, and travel to new cities I haven’t visited yet.

What’s your “happy place,” and why?

You always want what you don’t have, right? I live on the beach in Florida, so there’s something so peaceful about the mountains to me. The echoes of the forest allow me to disconnect from the chaos. If anyone has a mountain cabin retreat they want to invite me, I’m all ears (haha)!

Please share a favorite quotation, lyric, or saying, and what it means to you.

“Don’t talk about it; be about it.” A lot of people talk about what they want to do, but they never execute on the idea or task. If you want it bad enough, then do it. Even if you fail, you’ll be happy you tried.

You can connect with Richard via LinkedIn athttps://www.linkedin.com/in/richard-formoe-6873b037.

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Mike Lewis

Mike Lewis is a Premier Rental Purchase franchisee with multiple stores and currently serves as Vice President of Operations. With 33 years of experience in the rent-to-own industry, he has spent the past 20 years working closely with franchisee owners and previously spent 12 years in Corporate RTO, gaining a strong foundation in the business.

For the past five years, Mike has been sharing his knowledge by teaching managers and franchisees at the company’s Training Center.

Outside of work, he enjoys time with his family, kids, and grandkids, and appreciates the simple things in life – especially riding his Harley Davidson with the sun on his face. If you know, you know!

Lauren Talicska

Arona Corporation dba Arona Home Essentials

Lauren Talicska is an experienced multi-channel marketing specialist and the Vice President of Marketing & Communications at Arona Home Essentials. She has found her home in the RTO community, supporting stores in branding, growth, and increasing traffic.

You may recognize Lauren as a former RTO vendor, including her time as a partner for Nationwide RentDirect, or her previous participation in the APRO Vendor Advisory Committee. Lauren calls Columbus, Ohio, home and spends her workday crafting and executing marketing promotions from inception to realization, all while supporting the branding and social media needs of all the Arona stores in 12 states (plus Puerto Rico!).

Charles Smitherman

APRO

Charles Smitherman, JD, PhD, CAE, became CEO of APRO in 2023, bringing years of legal and executive experience in the rent-to-own industry. 

Prior to joining the association, Charles served as COO, General Counsel, and Vice President of PTS Financial Services, where he played an active role in the rent-to-own industry by representing his company through PTS’s club program offering with APRO member dealers. Charles is an attorney with two decades of experience across a wide variety of areas, including RTO, consumer financial services, antitrust, corporate law, mergers and acquisitions, litigation, franchise law, and privacy law. Following law school at the University of Georgia, Charles earned a Master of Legal Studies and PhD in Law from the University of Oxford in England.

Charles is credentialed as a Certified Association Executive (CAE) with the American Society of Association Executives, a Certified Franchise Executive (CFE) with the International Franchise Association, and a Certified Information Privacy Professional (CIPP/US) and Certified Information Privacy Manager (CIPM) through the International Association of Privacy Professionals. As APRO’s sixth CEO in its 45-year history, he brings a collaborative, member-focused approach to association leadership, emphasizing transparency, advocacy, and value creation. Outside of work, Charles is an active ultra runner and open water swimmer.

Mike Kays

Ashley Furniture Industries

As VP of Rental Sales for Ashley Furniture Industries, Mike thrives on building relationships with our RTO industry veterans, and helping businesses grow through new product, new marketing, and new supply chain options.

Mike works to leverage a wide breadth of relationships and influence, intimate knowledge of market trends, and unique knowledge of what RTO dealers need from a supplier to be successful.

The saying goes that a high tide raises all boats, and our goal is to leverage the world’s largest furniture manufacturer to drive the continued growth of the RTO industry and all the suppliers.

Mike Tissot

Countryside Rentals Inc., dba Rent-2-Own

Mike grew up in the rent-to-own industry under the guidance of his father, former APRO President and RTO legend Darrell Tissot. For nearly 25 years, Mike’s innovative leadership has helped expand the family business to more than 40 stores across Ohio and Kentucky while also shaping the industry as a whole.

He has served as President of the Ohio Rental Dealers Association, an APRO board member and Treasurer, and President and Treasurer of the TRIB Group. His contributions have earned him the APRO President’s Award of Excellence and the title of APRO Rental Dealer of the Year.

Outside of RTO, Mike enjoys time at the lake house or in Orange Beach, Alabama, with his girlfriend, Angela Strong McCool. A passionate Cincinnati Reds fan, he rarely misses a game, whether watching or listening alongside his parents. He also takes every opportunity to visit Arizona, where his daughter is currently attending Arizona State University.