Rent-to-own franchises - Wheel Workz

Wheel Workz LLC

Tommy Crenshaw (info@wheelworkz.com)

PO Box 172172

Memphis, TN 38187-2172

901/363-3639, ext. 401

www.wheelworkz.com

Company-owned stores: 1

Franchise-owned stores: 2

Expansion plans: Wheel Workz just signed a contract with a new company, now called Southern Wheel Workz LLC, which has an area agreement to open up 25 stores over the next five years throughout Florida, Brazil, Panama and throughout the Caribbean; also, a third franchise-owned store will be opening in Nashville, Tennessee, soon. The type of franchise owner they’re looking for: Someone who loves cars, has the financial backing to buy into the franchise and who has a lot of enthusiasm for the business.

Why they’re different: “I think we have more of an all-inclusive system that contains sales, service, repair and rent to own,” says Ingram. “If you compared us to other rent-to-own stores that sell a few tires and wheels, we’re probably a tire-and-wheel store, which is complete with sales, service, repair and that also does rent to own.” In fact, a typical Wheel Workz store sells product 75 percent of the time and rents the rest. The concept also aims for wealthy and affluent customers as much as anyone else, points out Crenshaw, saying, “We’re a destination for high-performance vehicles.” Ingram notes that the company slogan is: “Where athletes and stars bring their cars.”

What they’ll do for you: It runs the gamut, from sales to shipping. “We take a lot of the guesswork out of it,” says Ingram. “We take away the learning curve.” Crenshaw elaborates: “Anyone can learn this business in two or three years, but through us, you can be an expert in two or three months.”

License master franchise rights: Yes

Selling primary multiple store location agreements: Yes

Selling franchise agreements for just one store: Yes

Active franchisee advisory board: “No, but we will have,” promises Dale. “That’s very important to us.”

Net worth of candidate: $500,000

Franchise fees: $30,000

Royalties: 5 percent

Advertising co-op: 2 percent

Use this link for a PDF of Wheel Workz Rent-to-own franchise information

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