Premier Opens store in Arvada, CO
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New Premier-Rental Purchase Store Opens in Arvada.
Gail Bower made a rather unorthodox entry into her RTO career. She was in her late teens and looking for a job. She opened up the phone book and found the first thing she could that was close to her home in Westminster, Colorado – a small rental-purchase company with several stores in the area. It was just what she needed then. And for the next 27 years, she remained with that company, gaining tremendous experience that she hoped would one day earn her store ownership. While things didn't work out quite like she had thought, she did realize her dream, and it turned out better than she expected. She opened a Premier Rental-Purchase store in early June in the nearby town of Arvada.
Back in the Days
"Back at the beginning, my rental company was one small part of a large electronics retail operation, and we occupied a 20x20 space in one of its showrooms," Bower says. "We featured a couple of stereos, TVs – not even VCRs then. We would just take inventory out of retail and assign it to rental. We started getting deals on merchandise, and our little rental business grew to where we moved on down the shopping mall into our own space. We later added appliances and then furniture. I worked at that location for two years in Westminster then moved to another location in Arvada to manage a store for the company. I stayed there for the next 25 years. Since then I've done everything, from collections, to sales, to records. And I was under the impression for a long time that I would one day own that store I managed, but it didn't work out that way. One day, while I was on vacation, the owners sold to one of the big chains. Looking back, it all worked out for the best. It was a humbling experience, but I'm fine with where I am now."
Bower was shocked and disappointed, but undaunted. She had an Ace in her back pocket, although she hadn't really recognized it as such until she pulled it out and played it. That Ace turned out to be Premier.
Taking the Plunge
"I needed to keep working, so I stayed on at that store for two more long months," says Bower. "I had been hearing for quite some time about the opportunities Premier offered and had often wondered what it would be like to open a Premier franchise. I got their literature and thought many times about calling to find out more. I watched as Mike Gordon, who had been a manager for the same company I worked for, open his own Premier store in Lakewood, Co., and I was impressed with his success. In fact I was visiting Mike during that vacation when my company was sold. I don't know why I hadn't picked up the phone and talked with The Premiers Companies' president/CEO Trooper Earle long before, but I finally took that plunge, and I'm glad I did."
Despite Bower's operational experience and anticipation of store ownership, she had to make a major shift in how she viewed herself, she says. She did not see herself as an entrepreneur. And, according to Bower, in Earle's mind, that is basic to success. She thought it would be easier to jump into business ownership, but she found she had to figure out a lot of things first. "With Premier, you learn every aspect of owning a company – of true entrepreneurship – and that is something I had to do myself. I came to conclude that if someone has to hold your hand every step of the way, you might not have what it takes to stand on your own. You have to think like an entrepreneur, learn how to work things out. You either are or you aren't an owner-operator. Trooper saw me struggling to understand what I was supposed to be doing. So a big part of his guidance was helping me think through how to be an entrepreneur. That was very important, and I liked that kind of support. Trooper knew better than to just hand it all to me. Premier doesn't work that way. Each store represents an individual, entrepreneurial effort. It comes from the individual dealer. And that may take time. I realized that I couldn't go from being what I was to what I have become in a day. I had to go through the process step by step. I am a deserving owner now. It was not easy, but it was worth it."
More Than Just Words
Bower explained that the support she received from Premier was more than just a pep talk. She took advantage of a number of services offered to dealers as they prepare for launch. For example, Premier's real estate consultant was instrumental in helping her to find her location. "I had one location in mind," she says. "He did some research and discovered it was not the best place. He helped me find my current spot and within 10 minutes of my seeing it, I knew it was right. I couldn't have asked for a better location."
There also was the business plan. "Trooper sat down and helped me prepare something very impressive. I couldn't have done it on my own. It is not something even the most seasoned dealer typically does."
And there was financing. "I had read up on what one has to do to get a business loan, and it was intimidating. Dan Whitsell, Premier's CPA, set me up with a bank that respected Premier's reputation and had a history with them. Yes, I had a good background and good credit – and these are important. But I also had a professional business plan and was following behind other successful Premier dealers with whom the bank had dealt. In the end I didn't even have to go in to get my loan. Here I had purchased business suits and a briefcase for such an event, and I didn't have to use them! I was very, very happy about that."
Bower also discovered how valuable it was to be affiliated with Premier when acquiring merchandise, and she took advantage of its buying power. "I realized how much I needed that support in getting set up with vendors. They understand the Premier connection."
As Bower worked through the preparations for her opening, she was pleased to secure a strong staff of experienced RTO veterans. This included two former employees of hers and her husband, Tony, who had been in the industry for 16 years before embarking on a career some years back in the printing industry. She says they thought he would stay in his former job, but as the store opening got closer, the RTO bug bit him again, and she welcomed his partnership.
She also welcomed an ability to treat her customers the way she liked, something she had lost when her company was sold. "Customer service is absolutely everything," she says. "That is one of the reasons I couldn't have stayed at my old company once we were bought out. We had been a family at that store. I had customers who had been coming in for generations. My customers told me they liked the way I treated them. I knew their first name. If they had a problem, I resolved it. I couldn't always meet their needs under the new regime, and they didn't like the corporate mentality. Some customers were literally crying because of it. If I hadn't realized it before, I realized then that customer service is the most important thing. When I could no longer treat people the way I wanted to treat them, it was not something I wanted to do any more."
Feeling Good About Things
It feels good now for Bower to have the doors open to her own new business. She has come to see herself as much more than a store owner but rather a true entrepreneur. She is ready and set and where she wants to be as she moves forward in her new and exciting and well-deserved adventure.
Earle recognizes what a gem Bower is to have on board. "Becoming an entrepreneur isn't something you develop," he says. "I believe you either have it or you don't! However for some, it takes a bit of ‘inspiration' or ‘desperation' to bring it out. Premier's program isn't to sell anyone a franchise. Our goal is to help new dealers understand what it takes to be successful. When they get a chance to see all they have to do, they either have what it takes inside them or they don't. If they don't, we encourage them not to go any further. With Gail, the burning desire was always there, and it took a bit of ‘desperation' caused when her store sold to bring it out in her. She has a wealth of experience and a tremendous capacity and drive to do well and be an important part of the Premier team. She has ‘paid her dues' in the industry and will now reap the benefits and be a big asset there in Arvada. I admire her character and look forward to hearing more about the success of Gail Bower!"
The national office of Premier Rental-Purchase is located in Williamsburg, Virginia. All Premier stores are independently owned and operated. Visit Premier's website at www.premierrents.net or call (800) 2-Premier and ask for Trooper Earle.
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