Company Overview Visit rentacenter.com website
Rent A Center (RAC), a company that provides furniture and appliances, is headquartered in Plano, Texas. The company has more than 1,000 locations in 48 states and Canada. Rent-A-Center was founded by current CEO Mark Speese, who opened the first store under the company name of Magic Wheels in Plano Texas on November 7th, 1974.
The idea for Rent A Center came to Mr. Speese when he realized how expensive it was to purchase living room furniture with an option for customers to pay later if they could not afford to pay all at once. After opening Rent-A-Center stores throughout the US and selling his majority shares in 1991, Speese went on to open new business ventures including: The Color Tile and RAC Décor.
As of January 2017, the Rent A Center has over 1,000 locations in North America and employs more than 20k people. Annual revenue for 2015 was $1.5 billion.