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Franchise 500 2023
2024 Franchise 500 Rank
#204 Ranked #105 last year
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Initial investment
$367K - $694K
Units as of 2023
2,307 Decrease

Rent-A-Center, founded in 1980, is a public rent-to-own furniture and electronics company located in the U.S. With over 2000 store locations, they are committed to providing quality yet affordable furniture and electronics with residential and commercial sales. Rent-A-Center has been franchising since 2013 and has steadily been gaining franchisees. 

You do not need to build furniture or fix electronics to run a Rent-A-Center franchise. They will provide you with the training you need to run a retail business. The perfect candidate for a Rent-A-Center franchise has a passion for business, giving great deals, and supporting the local community.

Why You May Want to Start a Rent-A-Center Franchise

Opening a Rent-A-Center location means that you are part of one of the best rent-to-own furniture and electronic companies in the world. With their commitment to providing quality products, they have great prices and a same-day delivery policy. A Rent-A-Center franchise is an amazing opportunity to offer people in your community a chance to live the life of their dreams. With no credit needed and a flexible payment plan, your business will strive to allow many people to afford essential and non-essential purchases to make their lives easier and more enjoyable. From beds and sofas to luxury gadgets, Rent-A-Center will not only provide quality, but match competitor’s prices.

Rent-A-Center has established itself in a niche market, having worked hard to perfect the rent-to-own sales style. The current business model draws in millions of clients annually and promotes brand loyalty.

What Might Make a Rent-A-Center Franchise a Good Choice?

With more than 40 years of experience, Rent-A-Center has become a major company in the industry. By selling high quality, high and low-end furniture and electronics, they attract a lot of customers. As you make your decision regarding whether to open a Rent-A-Center franchise, make sure you take time to explore the opportunity. Research the brand and your local area to see if a franchise would do well in your community. Ample market research may make site selection easier after you sign a franchise agreement. 

To be part of the Rent-A-Center team, you should make sure you’re financially ready for an initial investment that will include a franchise fee and other startup costs. Franchisees may also need to meet the company's set net worth and liquid capital requirements. 

How Do You Open a Rent-A-Center Franchise?

To start a Rent-A-Center franchise, you’ll first submit a franchise inquiry. Rent-A-Center keeps its franchise process close to its vest, but expects you to undergo background and financial checks. You may also have to complete phone interviews to see if your vision matches theirs. It may also be wise to consult a financial planner and an attorney as you begin the process of opening a franchise.

If everything progresses well and both parties want to go into business together, you may sign a franchise agreement. Once you have signed on board, you will complete the rigorous training that includes both classroom and on the job training. The training will equip you with the knowledge and skill to run your franchise. Rent-A-Center will work with you every step of the way to set up your franchise. 

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Company Overview

About Rent-A-Center

Industry Retail
Related Categories Furniture & Appliances, Miscellaneous Retail Businesses, Electronics Stores
Founded 1980
Parent Company Rent-A-Center Franchising Int'l. Inc.
Leadership Michael Landry, VP, Franchising
Corporate Address 5501 Headquarters Dr.
Plano, TX 75024
Social Facebook, Twitter, LinkedIn, Instagram, YouTube

Business Overview

Franchising Since 2013 (11 years)
# of employees at HQ 475
Where seeking

This company is offering new franchises throughout the US.

# of Units 2,307 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a Rent-A-Center franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Information Circle
$35,000
Initial Investment Information Circle
$367,110 - $693,580
Net Worth Requirement Information Circle
$750,000 - $3,000,000
Cash Requirement Information Circle
$100,000 - $130,000
Veteran Incentives Information Circle
$5,000 off franchise fee
Royalty Fee Information Circle
5.5%
Ad Royalty Fee Information Circle
3%
Term of Agreement Information Circle
10 years
Is franchise term renewable? Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing Rent-A-Center has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, inventory

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training Ongoing
Classroom Training 14.5 hours
Ongoing Support
Purchasing Co-ops
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Information Circle
No
Can this franchise be run part time? Information Circle
No
# of employees required to run 4-6
Are exclusive territories available? Information Circle
Yes
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Franchise 500 Ranking History

Compare where Rent-A-Center landed on this year's Franchise 500 Ranking versus previous years.

Additional Rankings

Curious to know where Rent-A-Center ranked on other franchise lists? Find out below.

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022