Rent-to-own News - FRDA names employee of the year, concludes annual meeting

FRDA President Chris Kale, FRDA 2011 Employee of the Year Matt King and RNR President Larry Sutton.

The Florida Rental Dealers Association (FRDA) Tuesday concluded day two of its annual meeting with its popular vendor mingle where dealers from 15 different rental companies spent face-time with around 31 participating vendors at the Westshore Marriott in Tampa.

"Seeing this show grow shows the maturation of the industry," said Dan Kniesly, VP of Easy Rental who oversees eight stores in Atlanta and four in Miami. "There weren't 100 rental stores back in 1985, today we have closer to 600. And a lot of that has to do with FRDA providing a safe environment for the industry to grow like that. That's why shows like this are so important, to keep that unity of purpose."

Mike Zagar, a Premier dealer with a store in Jacksonville has attended FRDA shows since he opened three years ago. The intimate environment provides a different opportunity than the other shows throughout the year he said.

"You really get a better opportunity to sit and talk with the vedors and dealers here in a more intimate venue," Zagar said. "It's much different that way than the large shows."

FRDA opened its annual meeting after the vendor mingle by naming its 2011 Florida Employee of the Year, Matt King, a Rent-n-Roll manager who began as a shop tech at RNR's second Pinellas Park, Florida, location 10 years ago.

Two years ago, King became assistant manager of the RNR chain's largest store located in St. Petersburg, Florida. In short order King was tapped to manage the $1.7 million a year store and since his takeover six months ago has increased net profit there by 32 percent and the store's customer base by 30 percent.

"Our employees are who we need to thank on a daily basis," said RNR President Larry Sutton. "They're the ones who make the difference because they're the ones who lose or gain customers based on their relationships."

APRO Executive Director Bill Keese reviewed the industry trade association's first ever RTO Marketing Study which focuses on strategies to attract new customers to rent to own.

Keese focused on the need for RTO dealers to be more explicit in their marketing materials about all the benefits and services included in the rental transaction and to diversify the channels in which companies deliver their messages.

"We need the best and brightest minds in the industry behind this," Keese said. "In finding ways to reach these customers, making sure they understand what we're all about and the unique benefits of our service transaction."

See photo gallery of the event here.