The Rent-to-Own Business Model: A Community Franchise

by | Sep 18, 2022

The modern rent-to-own business model was built from a long history of industry development and growth, and aims to combine the systems and relationships created over decades with a new focus on the features that help brands connect with the communities where they set up shop.

What goes into a rent-to-own business plan designed for today’s customers? One that is flexible enough to help franchise owners build generations of loyal customers? 

At Premier Rental-Purchase, it starts with a way of working centered on the people who make us their first choice when they’re looking to furnish their home, get the perfect upgrade for their entertainment system, or find the appliance they’ve always wanted.

We make our customers our priority, at all times.

  • An industry tied to communities
  • Multi-generational business model
  • An expanding market
  • High quality, loyal customers

Premier Rental-Purchase has designed a rent-to-own business model that’s helping us work to transform the communities we serve, and lead the way to the future of the industry.

The Rent to Own Business Model

1.The Rent to Own Business Model Keeps Communities in Mind 

Like many businesses in this country, the rent-to-own business model was established as a vital service to the people in the neighborhoods where they were first developed, and it’s stayed that way over the decades since.

The rental-purchase furniture franchise often fills a valuable niche in the local business landscape, and can provide a crucial service to a frequently underserved sector of the market. 

And the rental-purchase industry is big business across all 50 U.S. states, with more than 4.8 million customers renting from electronic and furniture store franchises every year.

It’s a customer base that loves where they shop, and which needs the same sort of care as any other market. And that can lead to the kind of direct customer connection that puts a brand like Premier Rental-Purchase in a promising position for future growth.

At Premier Rental-Purchase, we never forget that we’re part of an industry with deep roots in the community. It’s an understanding that guides our rent-to-own business model, and gives us the tools for brand development.

2. Multi-Generational Business Model

When looking at franchises, a potential owner should begin by asking the foundational questions.  Where do the customers come from? And how does the brand work with those customers to build an affiliation that can last over generations?

Premier Rental-Purchase has established a rent-to-own business model around those questions, and it’s helped us create a franchise approach designed for modern business.

We take the long view when it comes to customers. The average rental-purchase household spends more than $2,300 annually on rental goods, and we’ve designed our rent to own business plan around making their experience a smooth and satisfactory one to help keep and grow their loyalty through the years.

When people come to us, they know they’re working with a franchise that appreciates them and works to get them the furniture they want, and are there to back it up.

Customers grow up with Premier Rental-Purchase in their lives, with a presence throughout their home. We developed our operations to keep them coming to us for generations to come.

3. An Expanding Market

The traditional rent-to-own business model has long served a specific market of customers who were interested in furnishing their homes but had credit concerns. It’s a recurring-revenue model that’s remained fairly stable over the years, and has allowed the rental-purchase industry to expand for decades.

But today’s customer base has the potential to be more than the usual. A new and growing market has formed within the industry, and it’s one reason Premier Rental-Purchase is excited for what’s next.

Many people in the millennial generation have shifted their priorities, and have made experience, rather than possession, their main objective in life. They still want to enjoy the same kinds of quality appliances and furnishings as ever, but prefer renting and upgrading to long-term ownership.

That sort of market expansion can help brands recognize and adjust their business model to meet the changing market, placing themselves in a position for future expansion. 

Premier Rental-Purchase understands that we have access to a larger market than ever before, and we’ve made it part of the way we operate.

4. The Rent-to-own Business Model Benefits from High Quality, Loyal Customers

What do people look for when they shop at a rental-purchase franchise? For many customers, quality and convenience are the first concerns.

Everyone wants access to the best, from furniture to electronics to appliances. It can be a growth driver and a great way to build brand loyalty.

Having top-of-the-line products, and a dedication to customer service, built into a rent-to-own business model designed for the modern day, helps Premier Rental-Purchase develop our customer base.

We work with the latest technologies to give our customers the kind of care they expect from start to finish. We have online services for rental and payment that help them stay connected and current with us. And we work with only the highest quality name brands across the board.

At Premier Rental-Purchase, our systems and products lead the industry, and can give owners the customer loyalty they need to look to the future and build the brand.

Be Part of Tomorrow’s Rent-to-Own Business Model with Premier Rental-Purchase

Premier Rental-Purchase has created a brand designed to serve our customers, and to give our owners what they need to develop their business.

We’re ready for what’s to come, and we’re getting ready to expand into new territories.

Want to find out more? Contact us today, and start your own franchise journey with us.