Franchising.com highlights RAC Franchisee: Impact RTO

March 22, 2016 

As senior vice president and chief investment officer of Impact Properties, Shirin Kanji in in charge of all of the Tampa-based company's investment-related activities. As with most family businesses, however, his real job goes far beyond just getting the deal done. "Since I was a teenager, my role covered anything that would help support the operating team," say Kanji, who has been busy adding more to his business plate.

This past October, the company acquired 40 Rent-A-Centers, further diversifying a portfolio that already included six hotel franchise brands, Firehouse Subs, and BurgerFi. "We had gotten close on a handful of other targeted deals along the way, but ultimately I feel we got the right fit with Rent-A-Center," says Kanji. "We have the ability to continue to grow within this brand and view it as a core holding for us in the years to come."

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Rent-A-Center Franchisee of the Year - CTRTO, LLC. supports Maryland Habitat for Humanity 

March 22, 2016 

Aberdeen, MD--Rent-A-Center Franchisee CTRTO, LLC has donated $10,000 to the Susquehanna, MD Chapter of Habitat for Humanity in memory of RAC's longtime Aberdeen store manager, the late McKinley "Kenny" Price. 

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Enterpreneur Magazine names Rent-A-Center as Top New Franchise 

December 9, 2015 

What are some of the newest stars in the franchising world this year? To answer that, we've compiled this list of the companies submitted for Entrepreneur's 2016 Franchise 500 ranking that began franchising in the last five years (since 2010). Click here for the full list.

 

Rent-A-Center signs 40-store deal 

November 18, 2015 

PLANO, Texas--Rent-A-Center Franchising International, Inc. (RACFI), the nation's first franchisor of independently owned-and-operated rent-to-own stores, announces a 40-store, multi-unit, multi-state agreement with Impact RTO, Inc. in September 2015.

Based in Tampa, FL, father and son Dilip and Shirin Kanji own and operate Impact Properties with investment partners, creating a large portfolio of franchises that include well-known brandes such as the Westin, Marriott, Hilton, IHG, Firehouse Subs and Burger FI. After evaluating their expansive assets in 2014, Kanji sought to diversify their investments by adding another franchise brand to their already successful $225 million hospitality portfolio. Having completed thorough research of successful franchises, Kanji noticed Rent-A-Center's franchising program and reached out to begin initial conversations. After 12 months of due diligence and negotiations, RACFI and Impact RTO came to an agreement, marking the largest deal RACFI has made to date.

"Impact RTO is a well-run company leg by very intelligent people," says Michael Landry, Vice President of Franchise Development at RACFI. "We are excited to begin this relationship with Impact RTO and are confident that Shirin and Dilip will take their RAC franchises to the next level."

The forty franchised locations were former corporate owned units across the southeast from Arkansas to North Carolina. The transfer of ownership took roughly 4 weeks and was completed by mid-October.  

 

Rent-A-Center Donates Technology Tools to Boys & Girls Clubs

October 6, 2015

PLANO, Texas--(BUSINESS WIRE)--Rent-A-Center, Inc. (NASDAQ/NGS: RCII) today announced the donation of $100,000 in computer equipment and software to Boys & Girls Clubs around the country.

Vetted during a thorough selection process, the four clubs sharing in the funding are located in McKinney, Texas; Springfield, Mass.; Somerset, Pa.; and Dale City, Va. The funding is earmarked for the development of “Tech Centers” aimed at providing youth the latest in available technology. 

"This donation will improve efficiency and allow our members to complete their homework and conduct reserach that will benefit them in their studies," said Sarah Rosales, national director of corporate development for Boys & Girls Clubs of America. "We are so grateful to Rent-A-Center for this gift and we look forward to the lasting impact this will have on our Clubs."

“We’re pleased to play a role in equipping tomorrow’s leaders with the resources needed to thrive in a technologically driven world,” said Rent-A-Center CEO Robert Davis.

A rent-to-own industry leader, Plano, Texas-based Rent-A-Center, Inc. is focused on improving the quality of life for its customers by providing them the opportunity to obtain ownership of high-quality, durable goods such as consumer electronics, appliances, computers, furniture and accessories, under flexible rental-purchase agreements with no long-term obligation.

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Rent-A-Center Donates to The Boys & Girls Club of Collin County

September 9, 2015

PLANO, Texas--(BUSINESS WIRE)--Rent-A-Center, Inc. (NASDAQ/NGS: RCII) today donated computer equipment and software, including nine Acer all-in-one computers and a high-tech multimedia computer to The Boys & Girls Club of Collin County. The Collin County Clubhouse is one of four across the nation sharing a total of $100,000 worth of Rent-A-Center funding. The funding is earmarked for the development of "Tech Centers" aimed at providing youth the latest in available technology.

"This donation will bring our education room up to the standards equivalent with the labs the kids use in schools. The donation will improve efficiency and allow our members to complete their homework and conduct research that will benefit them in their studies," said Zane King, vice president of resource development for Boys & Girls Clubs of Collin County. "We are so grateful to Rent-A-Center for this gift and we look forward to the lasting impact this will have on the Club."

"We selected The Boys & Girls Club of Collin County in recognition of this organization's admirable commitment to meeting the needs and improving the lives of this area's youth," said Rent-A-Center CEO Robert Davis. "We're pleased to play a role in equipping tomorrow's leaders with the resources needed to thrive in a technologically driven world."

A rent-to-own industry leader, Plano, Texas-based Rent-A-Center, Inc. is focused on improving the quality of life for its customers by providing them the opportunity to obtain ownership of high-quality, durable goods such as consumer electronics, appliances, computers, furniture and accessories, under flexible rental-purchase agreements with no long-term obligation. The company operates 2,946 stores in the United States, Canada, Mexico and Puerto Rico, and 1,460 AcceptanceNOW kiosk locations in third party retail stores across the country. Rent-A-Center Franchising International, Inc. (previously ColorTyme, Inc.), a wholly owned subsidiary of Rent-A-Center, is a franchisor of 187 rent-to-own stores. For additional information about Rent-A-Center, please visit www.rentacenter.com.

 Click here for full article 

 

Rent-A-Center "Make a Difference Scholarship" Offers Aid amid Skyrocketing College Costs

August 14, 2015

PLANO, Texas--(BUSINESS WIRE)--Rent-A-Center, Inc. (NASDAQ/NGS:RCII) today announced 60 U.S. high school and undergraduate students will share $60,000 in Rent-A-Center scholarships for distinguishing themselves academically and through civic engagement. “Rent-A-Center has a long tradition of supporting education.”

Having distributed $610,000 in scholarships since its establishment in 2004, Rent-A-Center’s Make A Difference scholarship provides 60 $1,000 awards annually to Rent-A-Center customers, their children, and the children of Rent-A-Center employees.

The scholarships come on the heels of a recent Gallup poll that found that college-funding worries are a top money concern for U.S. parents.

“Rent-A-Center has a long tradition of supporting education,” said Kenneth Jones, Rent-A-Center’s public affairs manager. “It’s gratifying to give back to the communities we serve and help offset tuition costs.”

Among other requirements, scholarship applicants must be pursuing their first undergraduate degree at an accredited two- or four-year college, university, vocational school or technical school in the United States or Puerto Rico. A diverse group of students from across 12 states, this year’s awardees have a variety of academic focuses including engineering, business and psychology.

More information, including program guidelines and applications, can be found at https://www.scholarshipamerica.org/makeadifference/.

For original article, click here.

 

Rent-A-Center Franchisees Gather for Summer Retreat in St. Pete Beach, Florida

June 26, 2015

Rent-A-Center Franchising International, Inc. (RACFI), the nation's first franchisor of independently owned-and-operated rent-to-own stores, is hosting a Summer Retreat for RAC franchisees and their families this weekn at the renowned Lowe's Don Cesar resort, also know as the Pink Palace, in St. Pete Beach, Florida.

This annual event, held this year from Wednesday, June 24 to Sunday, June 28, 2015, offers a chance for franchisees, corporate personnel, and vendor partners to come together and collaborate on business best practices, while offering a casual environment to reconnect with former colleagues and make new connections.

The first day of the  Retreat was highlighted by a meeting of RAC's Franchise Advisory Council (FAC), followed with a beachfront welcome reception for all attendees.

Thursday began with a general session and update from RACFI corporate personnel which included a variety of topics ranging from advertising to franchise development, followed by an exciting buying show that featured great deals from vendors in attendance.

"We always look forward to the Summer Retreat because it gives us all the opportunity to realign goals for the second half of the year in a relaxed and enjoyable atmosphere," says Cathy Skula, Senior Vice President of RACFI. "I am thrilled to be able to visit with our franchisees and vendors during this time and look forward to all of the events we have to offer throughout the week."

Thursday evening honored Eagle Club members who have achieved the prestigious "Franchisee of the Year" award with a special off-site dinner. Friday's activities will include the 7th Annual Willie Talley Circle of Excellence Golf Classic, as well as a family-friendly afternoon beach party, that will include jet skis, kayaks, beach volleyball and all that St. Pete Beach has to offer.

The event-filled week will conclude on Saturday night with a closing dinner, complete with entertainment and dancing.

FULL PHOTO GALLERY

 

RAC Franchising International (RACFI) Celebrates Successes, Growth at 2015 National Convention

January 19, 2015

Taking the Pulse

On the heels of a strong 2014, RACFI opened its 2015 National Convention yesterday in Frisco, Texas, marked by a theme appropriate for the dynamic nature of RTO today—“Sharing Solutions for our Evolving Business.”


Kicking off the first full day, franchisees were welcomed by RAC and RACFI leadership including President & COO Mitch Fadel.  Presenters recapped the success of company initiatives and investments in programs such as the successful smartphone rollout, Mobile Revolution, and discussed company plans for 2015.  The group also celebrated top-performing stores and introduced new franchisee groups to the RACFI family.


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NRF 15: Rent-a-Center puts down deposit on omni-channel e-commerce

January 13, 2015 By

The US ‘rent-to-own’ market is still a major sector, particularly for goods such as furniture and electronics, but for such companies, e-commerce isn’t as straightforward as it is for other retailers.

They not only need to establish that they have the item that the customer wants, but also that the customer can afford to pay for it today, and in the future.

This is why one billion-dollar company is only just dipping its toes into e-commerce – a market that other providers in the retail sector have been playing in for 20 years.

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Rent-A-Center, Inc. Announces Dividend Increase

By Business Wire,  December 11, 2014, 04:05:00 PM EDT

Declares Cash Dividend For The First Quarter Of 2015

PLANO, Texas--(BUSINESS WIRE )-- Rent-A-Center, Inc. (the "Company") (NASDAQ/NGS:RCII), the nation's largest rent-to-own operator, today announced that its Board of Directors has declared a quarterly dividend of $0.24 per share on its common stock, an increase of $0.01 over the Company's prior quarterly cash dividend. The increased dividend will be payable on January 22, 2015, to common stockholders of record as of the close of business on January 2, 2015.

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Rent Time Joins Rent-A-Center Franchise Alliance

October 14, 2014

Independent rent-to-own dealer Rent Time, Inc. of California, and Rent-A-Center Franchising International, Inc. (RACFI), the nation's first franchisor of independently owned-and-operated rent-to-own stores, announced today that Rent Time has become the newest RAC Franchise Alliance partner. 

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Rent-A-Center Franchising Announces Consolidation Deal with Rent America for New Franchised Locations

Jun 4, 2014
 

Rent-A-Center Franchising International, Inc. (RACFI), the nation's first franchisor of independently owned-and-operated rent-to-own stores, announced today that it has reached an agreement with independent rent-to-ower company Rent America to become its newest Rent-A-Center franchise partners.

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