Reading the future from the past with Dan Companion

Description

What can 40 years of rent-to-own history teach us about where the industry is headed next? On this episode of The RTO Show Podcast, host Pete Shau sits down with Dan Companion, a second-generation RTO operator, former Vermont association president, and former FRDA board member. Dan shares what he learned building stores in New England, testing the RTO model inside Badcock Home Furnishings, and watching the industry grow from the grassroots up.

A candid conversation full of practical insights for RTO owners, managers, and anyone who wants to understand the rent-to-own industry from the inside.

What You'll Learn

Why rent-to-own often grows stronger when the economy gets tougher, and why consumer access is at the center of the RTO business model
How Dan sees the current job market, and why so many RTO companies struggle to find and keep good people
How clear career paths, consistent pay plans, and a culture of trust help with training and recruitment
The pros and cons of commission pay for RTO sales teams
Why buying groups like TRIB and Nationwide matter for independent dealers competing with big box retailers
How tires and wheels became a proven rent-to-own category, and why collections is the "magical fear line" for traditional retailers

Episode Highlights

01:54 - Growing up in his father's rent-to-own stores in New England
03:51 - Testing rent-to-own inside Badcock Home Furnishings from 2004 to 2009
07:06 - What the 2008 housing crisis taught RTO about consumer access
10:20 - Why Dan believes rent-to-own is positioned to thrive right now
12:33 - Where all the workers went, and why hiring is so hard
15:12 - Building a career path that keeps good employees
18:29 - Commission pay: when it works and when it backfires
22:14 - Small dealers, buying power, and the role of associations
23:49 - Serving on the FRDA board and the rise of buying groups
28:19 - How tires and wheels proved themselves in rent-to-own
32:09 - Advice Dan would give his younger self
34:07 - Words of wisdom for today's RTO operators

Meet the Guest

Dan Companion grew up in the rent-to-own industry through his father's stores in New England. He founded Rental Express, served as the first association president in Vermont, sat on the Florida Rental Dealers Association board, and led a rent-to-own development project at Badcock Home Furnishings. Today he consults across industries and still brings a deep understanding of the RTO customer.

Tools, Frameworks, and Strategies Mentioned

Career pathing: show every new hire a clear vision, clear markers, and a defined path to higher pay
Consistent pay plans: avoid hiring new people above your loyal team just to fill a gap
Transparent compensation: let everyone see what each position pays to build trust
Buying groups: pool your purchasing power with TRIB, Nationwide, and others to protect your margins
Responsible customer limits: watch how much each customer is carrying and keep ownership within reach
Know your customer: compete on service, relationships, and the value you bring

"Know who your customer is. It's not everybody." Dan Companion

Closing Insight

The rent-to-own industry was built by families and independent dealers who served their neighbors when nobody else would. Dan's hard-earned lessons show that the stores that win are the ones that understand their customer, take care of their people, and keep finding new ways to provide access. Standing still isn't an option.

If this episode helped you, follow The RTO Show Podcast on Apple Podcasts or Spotify, leave a rating, and share it with someone in the RTO community. Have a question for Dan? Email Pete at pete@thertoshowpodcast.com.

Sponsored by APRO, Vox-Pop-Uli, and Dialectic.

APRO
Association of Professional Rental Organizations

Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.

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