Lyn Leach, Founder and longtime CEO & President of Ace Furniture & TV Inc. dba Ace Rent-To-Own, handed his company’s rent-to-own (RTO) reins to his son, Ben Leach, this past spring following 44 years as an industry leader. But true to form, Leach doesn’t consider the move as a retirement so much, but more as an evolution.
“My dad was a one-store retailer, and when he closed up shop, he experienced some real anxiety around not having anything to put his passion into,” Leach recalls. “He told me, ‘Make sure you’ve got a Plan B. Don’t just retire from your organization; retire to do something else.’ So I’ve essentially traded helping people for a profit for helping people through nonprofits.”
Leach began his RTO career in the early 1980s with a brief gig at a California rent-to-own business. He worked as a store manager at three different locations, then returned to his home state of Nebraska to hang up his own shingle in 1982 with Ace Rent-To-Own.
Putting People Before Profits
Leach adopted a customer-over-profits mantra that was unusual at the time, starting with what he calls ‘compassionate collections.’
“We committed to not repossess anything,” says Leach. “We just don’t do that. If a client insists on sending an item back to us, then we’ll accept it, but we want to do everything we can to see that the client ends up with ownership.” That has been Ace’s marching orders for over 40 years – to make sure every single account results in ownership.”
Leach’s innovative “Good News Exchange Program” helped immensely toward achieving that goal. Under the program, if a client’s needs change, and they want to swap their current item for something different, they can use the money they’ve already paid toward the old item and apply it toward the total cost of the new one.
“I feel like that program really revolutionized the RTO industry,” Leach asserts. “It became so much more consumer-friendly and focused on satisfying client needs. Rather than concentrating on profits, we focused on each individual client, and the profits took care of themselves.”
Learning to Lead
Leach’s personal approach applied to his employees as well. Only a 20-something when he opened up his first store, he confesses that his young hubris didn’t serve him well initially.
“I didn’t know what I didn’t know,” he admits. “I tried to impress people, show them how smart and edgy I was. But the older and more mature I got, the less proud of myself I was and the better listener I became. I learned how to manage people, not how I wanted to be managed, but how they needed to be managed. Some people are motivated by money, some by status, some by security, and some by comfort. So I had to understand what was important to them in order to motivate them. And it was so much more fulfilling that way.”
Ace, now 24 stores strong, has many employees who have been with the company for over 20 years. According to Leach, it’s because of the purposeful culture of caring he helped cultivate.
“The relationships are the best part of this business,” he attests. “Typically, when you love somebody, they’ll love you back. Sure, they want the best money they can make, great benefits, and security for their family. But all of that doesn’t mean squat if the person they’re working for at the company they represent doesn’t care about them. I really cared, and they really knew it.”
Passing the Torch
Which is a key reason it’s extra-important for Leach that his son and his Partner/Vice President of Operations Frank Rotert are his professional successors.
“Ben and Frank will carry on the legacy – the same culture, values, and core beliefs,” notes Leach. “When we knew that was going to be the plan, I visited all 24 stores and explained the transition exactly and how it was going to happen, answered all their questions and responded to their concerns. It was comforting for them, and it was also comforting for me. It’s a dream come true to have my son continue our legacy for another generation.”
If there’s one thing about rent-to-own that Leach wants to ensure Ben knows, it’s the value of collaboration. Leach’s RTO icon status was hard-earned through years of leadership and service to the industry; he served as President of both APRO and TRIB Group, and as a longtime board member for both organizations. He was extremely active as an RTO advocate, attending APRO’s annual Legislative Conference for decades and hosting policymakers at his own stores.
But again, it’s the much more personal perspective that Leach contends makes all the difference.
“[RTO legend] Darrell Tissot was my mentor,” Leach remembers. “Anytime I had questions, I’d call him, and at APRO events, I’d always find him. I’d have some questions written down, and he always took the time to answer me. He was very generous and very informative. Then his son, Mike Tissot, joined the business, and I mentored him for a while. Today, Mike is a premier rental dealer – smart, innovative, great with people. He’s the full package as a good businessman. Now, Mike is mentoring my son, Ben. It’s full circle.
“The relationships you build in this business, they’re priceless,” continues Leach. “Take the time to enjoy what you’re doing while you’re doing it. So many people hate what they do, and I love what I do. So take a moment to remember how fortunate you are to have this opportunity.”
Finding New Ways to Serve
So, what is Lyn Leach retiring to?
First, he and his 3-year-old English Cream Golden Retriever Apollo are working as a therapy-dog duo. The pair did hundreds of hours of training through Uplifting Paws, and now spend almost every day visiting folks in a spectrum of settings – from memory care centers to sensory gyms for kids with special needs, from women’s shelters to addiction recovery halfway houses.
“Apollo and I go out to give love and make connections,” Leach explains. “We try to show some love, some peace, some calm, and let folks know that they matter, that we care, and that we’ll be back. This work is very necessary and very helpful. It’s such a privilege. My wife, Natalie, is now also training her two-year-old dog, Aubrey, for similar service.”
Leach has also become a hospital visitation minister for the United Church of Christ, visiting UCC congregants in the hospital, offering a prayer blanket and cross to hold onto, as well as a devotional and prayers from his church’s parishioners. And Leach serves as a Steven minister, providing one-on-one care, confidential listening, and support for people going through difficult life challenges, such as grief, divorce, or illness.
Add in some investment property management and continuing service on various community and nonprofit boards, and Leach has evolved into a rather busy retirement indeed. But colleagues wanting to watch Leach in his rent-to-own element can catch him one last time as the Hot Show auctioneer at RTO World 2026 in West Palm Beach, Florida, next month (Ben is training to take over this role, as well).
“I want RTO to remember that I was always working for the industry,” concludes Leach. “I was willing to serve, willing to lead, willing to go to Washington, D.C., and advocate for our business, willing to speak and share my love and share my secrets of success. I always tried to take the time to help other industry folks do better and succeed more – not so that I could be a big deal, but so that they would.”
