ColorTyme and RimTyme are First Rent-To-Own Franchises to Join the "VetFran" Program
PLANO, Texas (December 18, 2008) - ColorTyme, Inc. today announced a new incentive program that grants American military veterans a substantial discount on their initial fees when they open a new ColorTyme or RimTyme franchise store. "Many military men and women are entrepreneurs at heart and would like to become small business owners if they had some up-front financial assistance," said Jim Deering, director of franchise development for ColorTyme and RimTyme. "Our special veteran's discount is our 'thank-you' to them for their service to America."
Deering said the company's newest store brand, RimTyme, offers a complete line of specialized custom wheel-and-tire products ready for same-day installation. ColorTyme stores offer name-brand home furnishings, appliances, computers and electronics that customers can buy, rent or lease to own. ColorTyme, Inc. is America's oldest franchisor of independently owned-and-operated rent-to-own stores.
The RimTyme and ColorTyme programs for veterans are part of the International Franchise Association (IFA) "VetFran" program. VetFran (for Veterans Transition Franchise Initiative) is sanctioned by the U.S. Department of Veterans Affairs, the U.S. Department of Labor and the U.S. Small Business Administration. More than 1,200 veterans have purchased a franchise through VetFran since 2002.
"Veterans make great franchisees," Deering continued. "Their military training gives them the discipline to work hard, reach for their goals and build a solid and successful team. Veterans are the natural leaders we are looking for as we build our ColorTyme and RimTyme brands."
ColorTyme franchisees operate 210 rent-to-own/rental-purchase stores in 34 states; RimTyme operates an additional 18 stores in eight states. The company is headquartered in the Dallas suburb of Plano, Texas, and is an independent, wholly owned subsidiary of the largest RTO company in the world, Rent-A-Center (NASDAQ: RCII).