Someone got their wheels repo'd today in broad daylight!
There is no problem with this...the point is seeing if it is a viable yet lucrative option. This "guy" probably is an idiot, please provide more demographic data for if I go through with this business for target market, lol
Joined: May 2009
Posts: 4,293
Likes: 2
From: Spartanburg(SparkleCity), SC
It isn't a franchise deal. They own all of the stores, so I don't think that he would be looking for partners/investors. The guy has several other businesses like a rent-to-own furniture business, check cashing, etc. and they pretty much run the business until a state attorney general cracks down on the practices to the point that it isn't lucrative anymore… then they close up in that state and start another business model.
I'm not saying that I advocate what he's doing or that I would want to be involved in that business, but it is lucrative until the politicians and lawyers start cracking down on the predatory practices and write laws to protect the consumers from that particular business model.
I'm not saying that I advocate what he's doing or that I would want to be involved in that business, but it is lucrative until the politicians and lawyers start cracking down on the predatory practices and write laws to protect the consumers from that particular business model.
Joined: May 2009
Posts: 4,293
Likes: 2
From: Spartanburg(SparkleCity), SC
I think they make money by:
1) Very short Return-on-Investment (ROI)
2) Make profit on managing and selling their collections/debt to others
3) Focus on items that are easily recovered/repo'ed
And BTW, it's funny you mention that company name.
1) Very short Return-on-Investment (ROI)
2) Make profit on managing and selling their collections/debt to others
3) Focus on items that are easily recovered/repo'ed
And BTW, it's funny you mention that company name.
Nope. It's all over. I know a main investor/owner of one of the big chains that does this, and they are in all 4 time zones and target store locations in the inner-city ghettos and lower-income suburbs of medium to large cities.
Cali may have consumer protection laws that prevent this type of "predatory business", so that may be why you haven't seen them. Cali seems to be a little more progressive on laws like that.
Cali may have consumer protection laws that prevent this type of "predatory business", so that may be why you haven't seen them. Cali seems to be a little more progressive on laws like that.
