History of furniture stores that offer payment plans
Rent-A-Center R.A.C., one of the major players in the rent to own home goods industry, came from humble beginnings and a long line of success and acquisitions.
Depending on which origin story you pick, it all began at Mr. T’s Rental, founded by Ernie Talley, in Wichita, KS in 1963. A one time employee of the pioneering rent to own business chain, Thomas Devlin, saw the potential in the rent to own industry. He left Mr. T’s to start his own furniture rental chain, Rent-A-Center, in 1973. Using an innovative installment plan model where you didn’t have to get credit with bad credit, Rent-A-Center R.A.C. grew until it was sold in 1987 to Thorn EMI, but the British conglomerate that purchased the furniture credit chain faced ongoing problems with its new acquisition.
While Rent-A-Center R.A.C. was taking its own path, Ernie Talley would sell Mr. T’s and go into the commercial real estate but would return to the rent to own business in 1989 when he acquired Vista Rent to Own. It was the first of many acquisitions, which Ernest Talley used to form Renter’s Choice. From there Renter’s Choice went through an acquisition binge in the 90’s, identifying minor rent to own furniture chains with potential and snapping them up.
It was in 1998 that events came full circle. Thorn EMI was eager to sell Rent-A-Center and Renters Choice was experiencing incredible growth and an insatiable hunger for more rent to own stores. Ernie Talley purchased Rent-A-Center R.A.C. and consolidated the furniture rent to own chains to Rent-A-Center Inc.
After Talley announced his retirement in 2001, Rent-A-Center continued to grow, expanding into Canada and Mexico. Currently, Rent-A-Center owns well over 3000+ stores throughout North America and their website at rentacenter.com R.A.C. Not only known for identifying potential rent to own businesses with room for growth, Rent-A-Center is well known for its rent to own furniture programs. They built their reputation on ownership options on all their rental furniture, appliances and electronics.
*This page is only for information purposes and all information is not guaranteed to be accurate and or reliable. We accept no responsible for incorrect information and all viewers and users of our website are encouraged to do their own research and not rely on the contained publishing. All information was made available on the following websites: Wikipedia, Funding Universe and Rent-A-Center. In no way are we affiliated with, owned or operated by Rent-A-Center Inc. or any other subsidiary thereof.