Name: Michael Maddaloni
What’s your current role/title?
Co-Owner and Chief Financial Officer for Dream Furnishings and Electronics, LLC.
Years in RTO:
I’m actually new to rent-to-own, having recently graduated from Clemson University’s MBA Corporate program.
How did you find your current position?
I founded the company, organized an investment campaign, and secured partnerships with people who have more RTO industry knowledge and background than I do.
What did you do before you began working in RTO?
I earned a Bachelor of Science degree in Management / International Business Administration, then an MBA in Corporate Business Administration, working in insurance in-between. I’ve also been the CEO / Founder of startup Maddaloni Distilling Company for the past two years.
What do you do in a typical day or week?
I’m currently focused on developing an exceptional initial company culture and engaging in positive community outreach, as well as securing new B2B connections and overseeing day-to-day operations in B2C. I also serve as the company’s accountant and legal liaison.
What are the benefits of working in RTO?
Rent-to-own has allowed me to access the potential of a thriving – but largely unknown or misunderstood – industry. Between the lack of general RTO knowledge by investment-grade entrepreneurs, rent-to-own’s gem of a business often being obscured by retail, and the requirement of large capital investments that must be strategically managed, RTO has numerous barriers to entry which prevent an oversaturated market.
What do you love best about your job or employer?
I love meeting people in our community face-to-face, and having the chance to not only make a positive impact around me, but also forge the legacy of a service-oriented and consumer-friendly brand for the future of my company.
How do you manage work-life balance?
From a young age, I committed myself to being an entrepreneur, following in the footsteps of my father and his father. I have no concern at this point for “work-life balance,” as this job currently functions as a career, a hobby, and a pleasure to work in.
What do you predict will change in the rent-to-own industry over the next five years?
The “retail apocalypse” is, indeed, at-hand, and we must all be prepared to adapt and move forward in an ever-changing world. I believe we’ll see an overall shift toward e-commerce, online servicing, and at-home viewing and purchasing options. I also see the prospect of many new forms of goods transitioning into the RTO sector as society continues to become more reliant on credit and subscription-based services.