Local Appliance Rentals is the first choice when it comes to consumer hire
Why wait when you can rent it today? LAR is the first choice expert in consumer hire, renting anything from TVs, electronics and furniture to white goods and smartphones, typically over 24 months. Small, weekly, affordable payments mean everyone wins - and that makes a great business.
LAR has recruited 25 franchisees in the UK in under two years. There are some high growth stories in the UK already, with one franchisee on track for a £500,000 gross profit in their first 12 months on an accrual basis. A number of others are not far behind.
Seamless
Stores are not required. The system is proven in the UK and some early adopter franchisees have already introduced new franchisees or expanded their territories. Significant infrastructure is in place, which provides a seamless and highly productive model, with support staff exceeding 15.
At its annual conference in 2015, LAR CEO Ken French announced that the company will even provide funding to approved franchisees once they get to 50 contracts to help support growth.
Ken says: “Our numbers have exploded, thanks to the optional funding on offer, as demand is not the problem in this business. The challenge for franchisees is always the funding side.”
Independence
Enquiries are all inbound and franchisees have total independence. There are multiple ways to become a franchisee, be it as an owner operator, a couple working from home or as a joint venture with assistance from LAR head office in terms of match making.
Money comes in from day one. However, it does take one-two years to build the business to its true potential. The franchise provides significant passive income through weekly rentals and a valuable underlying asset or book value, which can provide an exit proposition from as early as two years.
