- DO I NEED TO HAVE ANY EXPERIENCE IN THE RENT-TO-OWN AND/OR AUTOMOTIVE INDUSTRY?
Not at all. We’d rather teach you our rent-to-own and automotive model. As part of your RNR UNIVERSITY training, you’ll spend valuable time in one of our company-owned stores.
- DOES RNR OFFER FINANCING?
We don’t provide financing, but we do have trusted relationships with third-party sources and we will introduce you to them.
- DOES RNR OFFER A MULTI-UNIT FRANCHISE OPPORTUNITY?
Absolutely! We know owners want the flexibility to open multiple locations. We encourage it. When you download your FRANCHISE KIT, we’ll devote time in our initial conversation to multi-unit franchising. We look forward to having that discussion with you.
- WHAT IS THE INITIAL FRANCHISE FEE AND ONGOING ROYALTY FEE?
The initial franchisee fee is $35,000. That includes your protected territory, all your training and initial support. Ongoing royalties are 5% of gross revenues. Currently there is no national advertising fee; however, we ask that you spend a minimum of 4% of your gross revenues on local advertising.
- HOW LONG WILL I BE AT TRAINING?
Our initial training program consists of approximately two weeks of on-line, classroom and on-site training at a company-owned RNR store or at one of our franchise stores. RNR requests that you, your general manager, and at least two additional team members attend and complete our RNR UNIVERSITY training program. Additionally, one of our professional representatives will be at your site for up to 14 days prior to your Grand Opening.
- WILL YOU ASSIST ME WITH ESTABLISHING MY VENDOR RELATIONSHIPS AND INITIAL INVENTORY PURCHASE?
Though you are not obligated to use only our vendors, we do believe that you’ll benefit from the relationships that we have formed over the past decade. Our team will work side by side with you to ensure that you maximize your initial inventory purchase from projected sales based on our broad experience of opening new stores in diverse markets.
- WILL YOU CONDUCT A DEMOGRAPHIC ANALYSIS FOR MY NEW STORE AREA? WILL YOU HELP ME FIND THE BEST LOCATION?
We have significant data on the demographic characteristics of our customers. We know how far they travel, their median household income, ethnic makeup, and we understand the general location requirements that give you the best opportunity for success. Our team will evaluate locations as you provide them to us. Ultimately, the choice of location is yours, but you can benefit from our input in the process.
- HOW LONG WILL IT TAKE ME TO OPEN ONCE I'VE SIGNED MY FRANCHISE AGREEMENT?
Your first location will generally open within months of signing your agreement. If your location has already been identified, the time to open can be reduced considerably.
- WILL YOU HELP ME WITH MY INITIAL MARKETING STRATEGY AND GRAND OPENING?
Yes. We look forward to assisting you with all aspects of your Grand Opening, and we will be active participants. Our media buying specialist will work with you to develop a customized marketing strategy to promote your opening. Get ready – RNR Grand Opening events are festive affairs!
- SOCIAL MEDIA IS REALLY BIG RIGHT NOW. DO YOU HAVE A POLICY AS TO WHAT I CAN AND CANNOT DO?
Yes. We’re on the cutting edge of social media programs and marketing and committed to support you in growing your franchise business. We’ll cover these essential marketing and customer relationship management tools at length during your training.