Rent-To-Own Industry Overview

Companies that offer rent-to-own services for customers to obtain consumer electronics, appliances, and/or furniture.

Summary

Not buying today? The rent-to-own (RTO) industry serves about 3 million customers annually who for some reason – be it shaky credit or a short-term need – would rather rent than buy.

Furniture is the RTO industry’s bread and butter, accounting for about 40% of overall revenue, according to the Association of Progressive Rental Organizations (APRO), a leading industry trade group.

Full Rent-To-Own Industry Description

Industry Consolidation

The consumer goods rental industry has consolidated substantially in the past few years. Aaron Rents bought Prime Time rentals in October 2007; Classic Party Rentals, the largest event equipment rental company, has acquired several companies since a change of ownership in 2007; and Rent-A-Center made three significant acquisitions from 2005 to 2006.

Full Rent-To-Own Industry Trends

• Aaron Rents, Inc.
• Rent-A-Center, Inc.
• Box Clever Technology Group

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Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Rent-To-Own maps to a number of NAICS codes including:

Full Rent-To-Own Industry Codes

• Assn. of Progressive Rental Organizations (APRO)
  
• RentDirect Nationwide
  

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