ColorTyme named AllStar Franchise for 2010
Rent-to-own store brand a best franchise business opportunity
March 01, 2010 // Franchising.com // PLANO, Texas – ColorTyme, the nation's oldest rent-to-own franchisor, was chosen from more than 800 companies as a top business opportunity in the 2010 AllBusiness Allstar Franchises ranking.
Backed by analysis from parent company Dun & Bradstreet, AllBusiness.com's ranking assesses the strengths of franchising companies based upon criteria including Web visibility and financial strength. The AllStar list of 300 "best of the best" franchises is the most transparent of its kind, allowing potential investors to surface information such as unit growth rate and the cost and financing of a brand they might be considering.
ColorTyme was chosen for many positive aspects including a respectable financial health ranking, in-house financing for franchisees and the ability to draw interest from outside of the rent-to-own business. In the last year, ColorTyme signed on new owners from various industries including insurance, restaurant and real estate.
The ranking's description also noted that ColorTyme performs well even in a challenging economy as more Americans on a budget look for affordable ways to get the furniture, appliances and electronics they need. The company has attracted so many multi-unit franchisees that it recently developed a multi-unit management training course.
"The strength and stability of our rent-to-own franchise system is validated through our recognition as an AllStar Franchise," said Bob Bloom, CEO and president of ColorTyme. "Now is a great time to join our franchise family. We give franchisees the freedom to run their own businesses while backing them up with financing assistance, complete one-stop inventory purchasing, comprehensive training, as well as real estate and legal support.
ColorTyme, Inc., founded in 1979, is America's oldest franchisor of independently owned-and-operated rent-to-own stores. ColorTyme franchisees operate 193 rent-to-own stores in 33 states, and the company's custom-wheels-and-tires franchise brand, RimTyme, operates 24 stores in 12 states. ColorTyme is headquartered in Plano, Texas, and is an independent, wholly owned subsidiary of the largest RTO company in the world, Rent-A-Center (NASDAQ: RCII).