It has helped lead to better earnings for publicly held Rent-A-Center. ![]() Last year the company sought to aggressively grow the program. "The intent of our program is to assist those retail clients that we have with capturing that customer that’s potentially going to leave their store and go down and go into a competitor or, in some cases, even go into a rent-to-own location," Smith said. It grows the base to customers who have little knowledge of rent to own and have not done business with Rent-A-Center. RAC Acceptance is an evolution of the rent-to-own model, Smith said. Since its inception, RAC Acceptance has created about 1,200 jobs, he added. The company’s goal is to open 300 of the kiosks this year, Smith said. That number has grown to about 450 currently, 157 of which were opened through the acquisition of RAC competitor The Retail Store last year. In March 2010, Rent-A-Center had 68 RAC Acceptance locations. ![]() Last year the program experienced accelerated growth. The turn-down rate must be about 30 a month – or one per day – and the store should be at least 15,000 square feet for the program to work efficiently. ![]() A key point of the program is to have the RAC staff up front working with the store’s sales associates and not in a back office or hallway, Smith explained.įor kiosk placement, RAC receives verifiable information on credit declines at stores on a monthly basis. The kiosk takes up between 8 to 10 feet of space, he said, adding that if no space is available, RAC will buy a desk from the retail client to provide a workstation. Smith says RAC tries to locate the kiosk near the area where credit applications are processed. Typically the RAC Acceptance staffing model calls for two people to work during the retailer’s open hours with the goal of having the kiosk staffed at all times, Smith said.
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