Industry Giant Aaron's Rental Purchase Speeds Up National Expansion Plans With Multi-Store Openings In Mid-Atlantic, Mountain, Pacific Northwest Regions.

Furniture World Magazine

Atlanta-based Aaron's Rental Purchase, one of the hottest and fastest-growing furniture, electronics and appliance rental purchase franchisers in the United States, will significantly expand its national presence in the Mid-Atlantic, Mountain and Pacific Northwest regions with the openings of 16 new stores. Attracted to Aaron's national reputation for top quality goods, fair pricing and unrivaled customer service, experienced business owners/operators and new Aaron's Rental Purchase franchisees Aspen Way Enterprises, Inc. of Billings, MT and WRT0, LLC of Philadelphia, PA will develop and operate the new stores. "By re-engineering the rental purchase retail environment and sales transaction to appeal to a higher end of the consumer market, we've created a very attractive opportunity that appeals to accomplished, aggressive entrepreneurs looking to expand their business portfolios," explains Todd Evans, vice president of franchise development, Aaron's Rental Purchase. "And, by awarding franchises to experienced business executives and operators like the principals of Aspen Way Enterprises and WRTO, we can set a much faster expansion pace for Aaron's Rental Purchase than could be achieved through opening Company-operated stores alone." Aspen Way Enterprises, Inc. will open nine stores in the following Mountain/Pacific Northwest cities: Spokane, WA; Idaho Falls and Pocatello, ID; Billings, Great Falls and Missoula, MT; Casper and Cheyenne, WY; and Rapid City, SD. The stores will be operated by Rohnn Lampi, president and owner, Aspen Way Enterprises, Inc. Lampi, a former investment banker who handled mergers and acquisitions for Chase Securities in Houston, TX., plans to open the first store in Billings, MT in October of 1999. "I was attracted to Aaron's Rental Purchase franchise concept by the company's rock solid reputation and the virtually untapped market potential I saw in the Mountain and Pacific Northwest regions," explains Lampi. "Aaron's can truly fill a need in this marketplace by giving area customers a clear, trustworthy choice for their rental purchase needs." Facing off with a number of competitors who already have a presence in the area, WRTO will open seven stores in territories throughout the metropolitan Philadelphia marketplace. The first store is scheduled to open in September of 1999. Based in Philadelphia, WRTO is owned and operated by business partners Sandy Roland and Allan Leibowitz. With years of extensive retail furniture and electronics experience, Roland and Leibowitz formerly operated Philadelphia's 50,000-square-foot discount and closeout retail store, The Dump. "We carefully studied the demographics of the Philadelphia market and found that the city would be extremely well served by Aaron's," explains VRTO's Roland. "More importantly, we know from our past successful business ventures that you cannot prosper if you don't take the specialized needs of your target customer into consideration. With Aaron's Rental Purchase stores, we can promise this region's tremendous customer base better terms, better products and much better service than they are currently finding from other operators in the marketplace." Unlike its competitors, Aaron's takes Rental Purchase beyond its stereotyped urban market. Like many other traditional Aaron's Rental Purchase stores, the 16 new stores will be conveniently located in suburban-like settings. Offering an extensive selection of furniture, brand-name electronics and appliances at fair prices, Aaron's also features renter-friendly agreements. As a result, rental purchase customers in these Mid-Atlantic, Mountain and Pacific Northwest regions will soon be able to own their merchandise in 12 monthly payments; agreements can be canceled at any time. In addition, Aaron's franchise support is unparalleled. Hands on business planning, award-winning advertising, public relations and careful site selection help keep Aaron's franchises running smoothly and profitably. Comprehensive training is provided to all new franchise owners, reinforced by ongoing training and support from experienced field consultants. State-of-the-art information systems -proprietary software - insure careful monitoring of key financial ratios. Aaron's Nationwide Volume Purchasing Plan means lower product cost to the franchise holder, allowing guaranteed lowest pricing, a decisive competitive edge. Additional cost benefits are obtained by purchasing furniture supplied by Aaron's manufacturing division, MacTavish Furniture Industries. A new financing program came on line in 1998 to assist franchise owners with inventory, cash flow, expansion and improvement needs. Founded in 1987, Aaron's Rental Purchase is a division of Atlanta-based, publicly-traded Aaron Rents, Inc. (NYSE: RNT). Aaron Rents, Inc. currently has a total of 443 owned and franchised profit centers in 36 states for the rental and sale of residential and office furniture and accessories, consumer electronics and household appliances. The company manufactures furniture, bedding and accessories at II facilities in four states.