Getting started in the rental purchase business is simple: picking a rental business for sale, signing on with the franchise, and moving ahead with the brand.
Finding the right rental business for sale, one that has laid the groundwork for the future and is positioned for growth in the years ahead takes understanding the industry’s current state and where it’s headed. Here’s what to know before starting the search.
The Rental Business Industry is Changing
The rental-purchase, or rent-to-own, industry has existed for generations and serves customers in every city and state. The business model has stayed essentially the same for most of that time.
But the industry is changing with the nation and has moved from a more niche and low-key business to a dynamic field bursting with energy and designed to adapt and adjust to different situations and circumstances. It’s helped make locating a rental business for sale a smart option for many potential owners.
A Business With a Solid Financial Base
A rental business for sale in today’s market places the new owner in an industry built from the ground up on financial considerations. It provides them with a reliable baseline cash flow and can give them lower tax liability and accelerated depreciation of goods.
There’s more to rental franchises for sale today than in the past. It’s a business designed for the modern owner, aiding the industry’s growth.
Rental-Purchase Appeals to a New and Growing Market
When an owner thinks about selecting a rental business for sale, joining a brand, and serving a loyal customer base, many likely have the standard rental-purchase guest already in mind. The customer they picture probably has existing credit issues and is looking for options that allow them to enjoy the newest gear at a reasonable price.
But more people are choosing rental-purchase today than ever, and many might not fit the traditional customer profile.
Spending on Experiences, Renting Possessions
The rental purchase has become the go-to for a large number of millennials. These people often have good credit but prefer to pursue experiences over possessions.
Rent-to-own could have been designed specifically for this group. The rental-purchase model gives them access to electronics and appliances without requiring the commitment of time and money of a full purchase.
Innovation and Popularity in the Rental-Purchase Industry
Getting established in the rental-purchase market takes more than picking a rental business for sale. It’s an inventory business, first and foremost, and that inventory needs to be appealing to the customer base.
Customers everywhere, no matter their situation, want the newest and most exciting gear, and they often favor businesses that offer it. Rental-purchase brands need to keep up with the latest developments and to refresh their stock as often as is necessary.
Keeping It Decentralized
Maintaining an inventory of in-demand equipment isn’t a one-time job, of course, and it demands business and financial sense.
The franchise can help on that score and clear the way for owners to get the best deals possible at all times. Look for rental franchise opportunities for sale that favor decentralized purchasing — it can be an effective way for each owner to negotiate individually and tailor inventory to the location.
The Digital Storefront Revolution Is Here
Inventory isn’t the only part of the rental-purchase industry that’s shifted to utilize the modern business toolkit best. Customer interface and management have transformed the field and helped add convenience and ease of use to every guest experience.
In today’s climate, a rental business for sale has more ways to connect with customers than ever. Brick-and-mortar is only one option of many.
Multiple Platforms for Purchase and Account Management
The contemporary rental-purchase guest doesn’t have to be at the store to fulfill their needs. They can purchase in person or through a digital storefront designed from the ground up to make the experience better and smoother.
Modern tools have also made their way into account management, with options for electronic and recurring payments to help keep every customer current and ready to make additional purchases.
Looking at a Rental Business for Sale? Discover Premier Rental-Purchase!
Before selecting a rental business for sale and becoming an owner, it’s essential to take a big-picture view of the business and find a brand like Premier Rental-Purchase positioned for future expansion.
Premier Rental-Purchase has decades of experience in the business, and we’ve played a key role in developing a climate of innovation and pursuit of quality across the industry. We believe in providing our customers with a quality product and giving our owners everything they need to develop the brand, and we’re ready for what’s next.
At Premier Rental-Purchase, we’re on the move again and are looking for potential owners to come with us.
Would you like to know more? Contact us today!