January 24, 2011 // Franchising.com // FRISCO, Texas – More than 300 franchisees, vendors and staff are gathered today in Frisco, Texas to kick off the ColorTyme 2011 National Convention. The two-day event will focus on implementing core values and boosting sales as part of its "Rev It Up" theme.
"'Rev It Up' speaks not only to finding ways to increase revenues, but also changing the way you look at things and making the impossible possible," said Bob Bloom, ColorTyme's president and CEO. "It is time to grow our business, increase revenues and find ways to differentiate ourselves from the competition."
This morning's General Session featured many speakers including corporate staff and ColorTyme Franchisee Ray Bird, who addressed the audience with ways to enhance business throughout the year. Mitch Fadel, Rent-A-Center president and COO, presented the state of the rent-to-own industry and gave a positive projection into the future.
In addition, awards were given to recognize winners in the Bronze, Silver, Gold, Platinum, Million Dollar and Diamond categories. For the highest honor in store awards, ColorTyme bestowed "Double Diamond" status to two store managers who exceeded $2 million in revenues Dean Traufler, manager of the Middletown, Ohio store owned by franchisee Ken Schimpf; and Mark Shaw, manager of the Waipahu, Hawaii store owned by Gary Hughes and Peter Landretti.
Following lunch, franchisees will have the opportunity to take advantage of special buys on products and visit with vendors in the ColorTyme Buying Show taking place this afternoon.
ColorTyme, Inc., founded in 1979, is America's oldest franchisor of independently owned-and-operated rent-to-own stores. ColorTyme franchisees operate 190 rent-to-own stores in 33 states, and the company's custom-wheels-and-tires franchise brand, RimTyme, operates 20 stores in 11 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).