Is a Rent to Own Franchise Right for You?

Perhaps you might be an investor or supervisor who’s testing making an investment in a hire to possess trade alternative and also you ponder whether franchising is pass. There are many benefits to shopping for a franchise from a big nationwide fear fairly than going it by myself. Savings on products and promoting prices because of larger purchasing clout, skilled recommendation and supervision on website variety and retailer opening, {and professional} worker and managerial coaching, all are explanation why RTO franchising is a well-liked choice. But what does it take to qualify for a hire to possess franchising operation? Let’s check out what one of the crucial RTO trade’s main corporations says about franchising, what it seeks in franchisees and what it provides in go back.

ColorTyme is the franchise emblem of Rent a Center (RAC franchise), an organization which provides hire to possess furnishings and different sturdy family items, in addition to a variety of monetary services and products. ColorTyme’s good fortune over a few years is because of their making hire to possess inexpensive for purchasers and franchisees each, since there are not many companies you’ll pass into for $150,000 which give you freedom and likewise whole franchise financing and advertising fortify. Although ColorTyme does not be offering financing for the franchise rate, financing is to be had thru an out of doors lender, the Wells Fargo Foothill, which gives operating capital loans of as much as $80,000, along side 100% stock financing. ColorTyme franchisees are anticipated to have a excellent credit standing and no less than $150,000 to be had in liquid capital. Additionally, the corporate seems to be for potential franchisees who’ve a hit trade enjoy (even supposing now not essentially in hire to possess), and are dynamic and bold marketers.

In go back, ColorTyme supplies marketplace research which contains maps, buyer demographic experiences, and visits from representatives of ColorTyme as wanted. This marketplace research is composed of retail area availability, competitor research, main store research, and demographic statistics according to standard hire to possess buyer profiles. Since the site of a hire to possess franchise is the important thing to its good fortune, marketplace research comprises elements comparable to comfort to residential spaces and easiness of get right of entry to (whether or not consumers can input and go out the shop simply, with out freeways or different stumbling blocks which can be obstacles to other folks buying groceries within the house), and the way secure the site feels for a buyer (since maximum RTO consumers are ladies, so facilities must be neatly lit, neatly stored, and non-threatening). Usually RTO shops are positioned in buying groceries or strip facilities with main anchor shops, and variables comparable to site visitors patterns, visibility, and signage can have an effect on website decision-making. Throughout the process website variety and retailer opening, an skilled franchise box advisor takes potential franchisees step by step throughout the opening procedure, and offers up-to-date knowledge and steering all alongside insure that the shop is a hit.