Aarons 2001 Annual Report Download - page 13

CHALLENGES
The rent-to-rent division of Aaron Rents has faced many
changes in its markets over the 47 years since its founding
as the Company’s original line of business. In every situa-
tion, the division has met the challenge of adapting to
the needs of the times and has continued to generate cash flow indispensable to the Company’s growth.
Known for the high quality of its products and services, the division accounts for a significant portion of
the temporary furniture rental market in the United States and ranks as the second largest business in the
industry. Aaron provides stylish, brand named furniture and the Company’s own lines produced by MacTavish
Furniture Industries.
Traditionally, the rent-to-rent division has served residential and business customers with temporary rental
needs —from students to military personnel, entrepreneurs starting new businesses, as well as major corporations.
Aaron Rents takes pride in providing high quality products for each individual customer and, for corporate clients,
assuring that people’s needs are given priority in furnishings for the office and other environments.
Flexibility is the rule at Aaron with customers given the options of renting, purchasing or lease ownership. In
addition to in-office consultation and an array of new products, Aaron’s customers also have the benefit of the
value of purchasing previously rented furniture.
Aaron has long been among the leaders in rentals of La-Z-Boy furniture and other popular brands of con-
sumer products for residential customers. These include big-screen televisions and personal computers as well
as living room, dining room and bedroom furnishings and accessories. Quality, style and selection are always
priorities. To provide complete one-stop shopping, Aaron offers special housewares and linen rental programs.
The reputation of Aaron as a leader in quality products and services has
been built over nearly a half century, customer by customer, order by order. A
key factor in this reputation is the commitment to first-rate service, including
next day delivery of in-stock merchandise; the replacement without charge of
any furniture that the customer considers to be unsatisfactory regardless of
the reason; and the right to return furniture with full refund during the first
week after delivery. Aaron stores also offer very competitive prices as a result
of the cost advantages of the Company’s own manufacturing resources and
on-premises warehousing.
Responding to the economic changes, the rent-to-rent division has taken
steps to consolidate operations and reduce expenses while focusing on
marketing opportunities and positioning to benefit from improving trends
in the economy in the future.
RENT-TO-RENT:
MEETING CHALLENGES
RENT-TO-RENT
RENTAL REVENUES
10
Residential Furniture 60%
Electronics and Appliances 7%
Office Furniture 33%