September 05, 2012 // Franchising.com // PLANO, Tex. - RimTyme, Inc., a leader in lease-to-own custom wheels and tires, was recently named one of the nation’s Top New Franchises by Entrepreneur Magazine for 2012. RimTyme was the highest ranked rent-to-own franchise on the list, which recognizes the best of the best among franchises that have begun franchising in the last five years.
“We are honored to be listed among the top new franchises in a publication such as Entrepreneur Magazine,” said RimTyme CEO Cathy Skula. “With a strong core group of existing RimTyme franchisees, as well as heightened interest from potential new ones, we expect continued success in the wheel and tire business.”
The No. 17 ranking is RimTyme’s second-straight and third appearance overall on the Top New Franchise list. The brand came in at No. 32 in the 2011 edition and was the 29th-ranked new franchise in 2009. RimTyme was also recognized for the third time on the magazine’s Franchise 500 list, which is the longest-running and most comprehensive franchising ranking in the industry.
There are 24 RimTyme locations in 12 states, with five new stores that have been added in 2012, all of which are in new markets for the brand.
“With the average mature RimTyme location’s revenue exceeding $1.4 million and growing, we see ample growth opportunities for the brand in 2013 and beyond,” said RimTyme VP of Franchising Michael Landry.
Through its lease-to-own platform, RimTyme offers customers flexible, credit-free options to obtain custom wheels and tires without a long-term obligation. All stores house a wide inventory of 16 to 24-inch rims and tires and include a service garage on site for immediate installation of products. RimTyme also provides services like balancing and rotating for the life of the tires at no extra charge.
RimTyme, Inc. is a custom-wheels-and-tires franchise operating in the United States. RimTyme is headquartered in Plano, Texas and is an independent, wholly owned subsidiary of the largest rent-to-own company in the world, Rent-A-Center (NASDAQ: RCII).
Corporate Communications Specialist