ColorTyme Named a Top Franchise for Veterans by World Franchising Network
June 27, 2013 // Franchising.com // PLANO, Texas – ColorTyme, Inc., the nation’s first franchisor of independently owned-and-operated rent-to-own stores, announced today it has been ranked No. 3 on the list of “50 Top Franchises for Veterans” by the World Franchising Network.
The results were featured in the June 21, 2013 issue of USA TODAY in the Franchising Today section. Click here for a copy of the article with the list of the 50 Top Franchises.
ColorTyme was recognized for having the third-highest percentage of veteran-owned locations, with approximately 25 percent of its stores owned by veterans, as well as its work with programs such as VetFran, designed to assist veterans in becoming franchise owners.
“We are honored to represent the rent-to-own industry on the Top Franchises for Veterans list,” said ColorTyme CEO Cathy Skula. “Our veterans deserve to be recognized and have proven to be successful owners, and we are proud to help them reach their goals.”
The World Franchising Network selected 50 franchisors from over 400 companies requesting evaluation for inclusion in the article. There was no cost to participate in the survey. Each participating franchisor was required to submit a completed questionnaire. The questionnaire noted both the absolute number of and the percentage of the total number of operating units owned by veterans, as well as additional statistics.
“The steady increase in veteran representation within the overall franchising community over the last several years has been extremely encouraging,” stated Rob Bond, founder of the World Franchising Network. “It certainly is clear evidence of the intrinsic values, invaluable experience learned through life's lessons and the exceptional work ethic of our military veterans. Hopefully, this trend will continue so that these fine young men and women can test their skills in franchising."
The World Franchising Network, which manages the www.Franchises4Vets.com website, also has four annual publications on franchising and 12 other websites focusing solely on franchising.
ColorTyme, Inc., founded in 1979, is America’s first franchisor of independently owned-and-operated rent-to-own stores. ColorTyme franchisees operate 194 rent-to-own stores in 33 states, and the company’s custom-wheels-and-tires franchise brand, RimTyme, operates 25 stores in 10 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).
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