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Building a High Growth Rent to Own Business with Wayland Russell
The RTO Show: "Let's talk Rent to Own"
What separates a successful company from a legendary one?
In this episode of The RTO Show, host Peter Shau sits down with Wayland Russell, co founder of Rainbow Rentals and current co owner of Eagle Rental Purchase, to unpack the leadership philosophy, operational discipline, and customer first mindset that helped build one of the most influential rent to own businesses in industry history.
From opening six stores in a single month to pioneering rent to own technology, premium furniture distribution, bundled computer software, and culture driven leadership, Wayland shares the real story behind Rainbow Rentals’ rise to more than 120 locations and industry leading revenue per store. This conversation is packed with insights on scaling a business, building company culture, customer retention, leadership development, and the future of the rent to own industry in the AI era.
What You’ll Learn:
- Why “you do not build a company, you build a culture” became the foundation of Rainbow Rentals’ growth strategy
- How Wayland Russell used leadership, employee ownership, and shared mission to create one of the lowest turnover rates in the rent to own industry
- The innovation strategy that helped Rainbow Rentals become an early leader in computers, premium furniture, rear projection TVs, and integrated technology systems
- What modern business owners can learn about scaling operations, customer experience, and team development from a publicly traded RTO company
- How the rent to own industry fought regulatory battles, consumer misconceptions, and financial pressure while continuing to advocate for underserved customers
Episode Highlights:
- 03:00 – How Rainbow Rentals doubled the average revenue of major competitors
- 06:18 – Why Wayland gave away 57.5% of the company on day one
- 09:13 – The leadership philosophy behind “you build a culture, not a company”
- 13:31 – The partnership with England Corsair that changed furniture distribution in RTO
- 20:31 – Becoming the first rent to own company to scale rear projection TVs and rental computers
- 23:20 – How Rainbow Rentals helped bring low income families into the computer age
- 26:26 – Why AI could widen the economic gap and what the RTO industry must do next
- 31:07 – The financial struggles, loan recalls, and public market pressure behind the company’s growth
- 42:28 – How APRO and industry advocacy helped save rent to own from government regulation
- 49:06 – Leadership advice for entrepreneurs building a company from the ground up
Meet the Guest:
Wayland Russell is the co founder of Rainbow Rentals, one of the most successful and innovative rent to own companies of the 1990s and early 2000s, and current co owner of Eagle Rental Purchase. Known for his people first leadership style and customer focused innovation, Wayland helped shape modern rent to own operations through technology adoption, culture driven management, and industry advocacy.
Tools, Frameworks, or Strategies Mentioned:
- Culture first leadership philosophy
- Employee partnership and ownership model
- Just in time furniture distribution strategy
- Bundled software and computer rental innovation
- Integrated inventory and ordering software systems
- Customer centered account management approach
- APRO industry advocacy and legislative engagement
- “More, Better, Different” customer experience framework
Closing Insight:
Wayland Russell’s story is a reminder that sustainable growth comes from serving people well, building strong teams, and staying committed to long term values even during uncertainty. Great companies are built by leaders who help others succeed and create opportunities for customers, employees, and communities alike.
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