I've always believed that collections is 'sales disguised'.
Ted Schlaack, Franchise Consultant, ColorTyme

PLAY Videocast interview with Ted Schlaack, Franchise Consultant for ColorTyme.

Ted Schlaack is a Franchise Consultant for ColorTyme. Schlaack has the dual role of trainer and troubleshooter for the company's rent-to-own and payday-loan operations.

Schlaack along with fellow consultant Mark Shealy, are "professors" in ColorTyme University (CTU). The pair also operate ColorTyme's Excel program - an online training course for store level personnel.

All new franchisees and managers have access to CTU resources. Excel consists of 20 E-based learning courses in four major areas; Fundamental Skills, Delivery and Installation, Sales and Selling, and Delinquency Management. "It takes a typical learner who has no knowledge of the rent to own business about 20 hours of E-content and 15 hours of manager Reviews to complete the course," said Schlaack.

New franchisees and experienced managers travel to Texas to attend CTU. Schlaack calls it a five day "management boot camp." CTU covers everything from store appearance to how to increase revenue.

Sales Disguised
"There are three pieces of increasing store revenue," Schlaack explained. "Improving pricing, growing your store and managing collections." Schlaack believes that great sales skills equal great delinquency management skills. "I've always believed that collections is 'sales disguised'. Every contact with the customer is a chance to sell." Schlaack said the best collectors are always the best sales people."

Ted Schlaack began his rent-to-own career in 1981.

RTO Online interviewed Schlaack Friday at ColorTyme's Summer Retreat in new York. View RTO Online's podcast interview with Ted Schlaack, Franchise Consultant for ColorTyme here.