Rent-to-own franchises - Premier

Premier Rental Purchase

Trooper Earle (troop@premierrents.com)

P.O. Box 244
Lightfoot, VA 23090 800/2-Premier
www.premierrents.net

Type of rent-to-own business:  Traditional Home Furnishings to include electronics, appliance, furniture, and in some locations jewelry.  Additional services available through affiliated companies to include Payday loans, Wheel and Tire rentals, and Rent-to-Own Autos.

Company-owned stores:  Anticipating opening company-owned stores in 2010.

Franchise-owned stores:  62 Rental-Purchase locations at the end of 2008.  Anticipate 85 Premier Rental-Purchase stores by end of 2009 and 100 by end of 2011.

Expansion plans:  In the next two years, Premier expects to exceed 100 Rental-Purchase store locations.  Franchise locations are available throughout the United States, U.S. protectorates like Guam and Puerto Rico and Canada.  Combined with other affiliate franchise companies, Premier expects to exceed 150 total store locations by the end of 2010.

Type of franchise owner they’re looking for:  Experienced industry professionals.

Why they’re different:  Premier operates differently than most franchise companies because it thinks of its franchisees as business partners.  As such, Premier has established franchisee run governing boards to oversee the purchasing and marketing of the company.  These boards have real control of the monies generated.  In addition, Premier has a much more open and sharing communication process where dealers are encourage to voice their opinions system wide.  The result is a more integrated partnership between the franchisor and franchisee than most franchise organizations have. 

What they’ll do for you:  Most Premier support services are optional allowing each franchisee to determine what services he needs and wants to best serve his customers.  Premier provides individual freedom and flexibility in most everything they do so its franchisees are able to customize their store to what they want it to be.

License master franchise rights:  We do not provide master reseller licenses. 

Selling primary multiple store location agreements:  Premier has Area Development agreements available for qualified franchisees.

Selling franchise agreements for just one store:  Yes, we only do single store location agreements.

Active franchisee advisory board:  No. There is a marketing advisory board and a purchasing board. Our Marketing and Purchasing Boards control the two top priorities for all franchises…marketing and purchasing.  Unlike other franchises, our franchisees are business partners and we give them an opportunity to control the direction of the franchise and their business.

Net worth of candidate:  Practically, as little as the cash injection required by the shareholders to obtain the bank financing needed.  With SBA backed guaranteed loans, the federal government will guarantee 75% of the outstanding balance to a bank.

Franchise fees:  $20,000

Royalties:  3 percent with volume discounts that will drop down to 2.25%

Advertising co-op:  $250 per month per location