Congratulations to Mike Lewis on his second store opening in Ft. Wayne, IN
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Just eight months after opening his first Premier store in Mishawaka, Ind., Mike Lewis was back talking to the bank about another loan.
“Because we had such success with the first store, I was able to go back to the bank and ask if we could get funding to open up a second store,” says Mike. “The bank recognized not just my success but the credibility of Premier in their decision to give me a quick ‘okay.' We used a template from our first start up and with a support system in place were ready to roll.”
But there's more.
Mike didn't stop in Ft. Wayne. He opened a third store just five weeks later in Goshen, Indiana.
“That is a pretty incredible pace for an independent dealer,” says Trooper Earle, president/CEO of Premier Rental-Purchase. Trooper recently made Mike the vice president of operations – to help other Premier dealers become established and grow. Whether or not they choose to grow as fast as Mike is up to them. “Mike is pioneering for us and we are glad to have him available to share his expertise and creativity.”
Mike's ability to successfully run a multi-store operation was proven over his 12-year career with Rent-A-Center. During his last nine years there he managed from 8 to 50 stores, gaining the experience he would later put into play in his own business. He's known for customer care, employee care and for using more than dollars to measure success.
What makes Mike's stores stand out among the competition is the primary reason he loves RTO – making a difference in the lives of his customers. “It isn't about a sofa or TV,” says Mike. “It's helping customers achieve some sort of satisfaction through owning merchandise that enriches their lives. It's about making them happy when they come in to make a payment. It's about having them linger just a bit longer when they come in because they expect to visit a bit with you, and then parting with a hug rather than a mere handshake.” Mike feels strongly that his success will continue as long as he can treat that first customer in his first store the way he did when he first opened – like part of the family.
Mike says it's also about making his team of employees feel just as satisfied as his customers so they pass along that feeling of satisfaction. “I'm there to make sure I take care of them and their needs and hope they go on to take care of customers in that way. They need to feel successful and share passion for the industry. To me, achieving that is a big part of our overall success.”
Mike gives no small measure of credit to Premier for enabling him to run his operation this way. “I went with Premier because I wanted to call my own shots and do things the way I know we are supposed to do them. In a larger company it's all about numbers. I wanted to get back to RTO and why I enjoyed it in the first place.”
It was Jim Forker who first introduced Mike to Premier. Jim was investigating his own possibilities but not yet ready to take the plunge into ownership. Mike decided to race him to the finish, and while Jim wasn't too far behind and now owns his Premier store in Benton Harbor, Michigan, Mike had his business plan done within two weeks of their conversation. Store number 2 came within eight months and store number 3 just a month after that.
According to Mike, opening the second and third stores was significantly easier than the first, and even that initial experience was not as difficult as it might have been because of Premier's help with the business plan and start-up package. With three stores now, Mike values Premier's support in managing multiple operations.
“Having human resources, an accountant and payroll services means I don't have to worry about things like quarterly taxes, payroll or insurance. My stores can run on their own because of the Premier services. It leaves me free from administration duties so I can support my managers and keep growing.”
“Mike has the unique understanding of what it takes to run one successful store as well as what is necessary to build and run an effective multi-store company,” says Trooper. “Premier is very excited to have him helping our new dealers develop their operational systems so they can get ready for multi-store expansion when excess cash flow from their first store comes.”
“Personally, I want to keep growing,” says Mike, “but I enjoy the thought of helping other Premier dealers get on a path of growth that suits them. I also want to help Premier expand nationwide.”
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