Jim Deering, director of franchise development for ColorTyme, says calls to his department are usually from rent-to-own (RTO) industry insiders who’ve been in the business for years and are now eager to open a ColorTyme store of their own.

But since the dramatic economic downturn, Deering adds, rent-to-own pros are not the only ones calling him. He’s also hearing from a diverse group of real estate industry professionals — shopping center developers, commercial and residential investors and brokers — all of whom have researched the financial stability of the rent-to-own industry and want to invest in a franchise. “Entrepreneurs want to own a franchise business backed by a winning formula,” Deering says, “and ColorTyme boasts a stellar 30-year track record.”

Deering says the option of renting-to-own is capturing the public’s attention as cash- and credit-strapped consumers worry about how they’ll be able to get the things they need. He points to a recent article profiling five retailers bucking the current slump in sales. “They actually compare rent-to-own stores with Wal-Mart, saying Wal-Mart is not the only game in town for shoppers on a tight budget,” Deering says. “They quote retail experts who said ‘rent-to-own is a natural fit for this economy’; ‘consumers can buy over time instead of on credit; and ‘it’s just another way for consumers to get what they want and be responsible about it.’

Read more.

Originally posted by Cris Zimermann on January 15, 2009 in Franchise Site.


Related Posts