February 3rd, 2020

66: Carrying Forward the Legacy of a Family Business, with Shirin Kanji

Shirin Kanji serves as the President of Impact RTO Holdings, a family business based in Florida operating for more than 30 years. He started the retail division back in 2015 with the acquisition of franchised Rent-A-Center locations in eight states across the Southeast.

Since then, Shirin has trailblazed his way to the top as the country’s largest Rent-A-Center franchisee, amassing 75 properties.

Shirin says, “I just knew how important it was for our family to find diversification and I felt truly confident in the brand and its position in the industry and what we knew about the business model at that point in time. Once we found it, we would do whatever it takes to bring it home.”

Moving from the hospitality and real estate industries to renting and retail, Shirin offers a look behind the scene at developing emerging concepts, corporate refranchising, and deal structuring to expand the family business.

Tune in to this week’s episode and learn about Shirin’s journey from Wall Street to transforming the family business in a big way.

What we talk about:

  • The kind of business Shirin’s family has and how they got into it
  • Leveraging abilities and available resources for growth
  • The operational structure of the business
  • Being able to keep everyone holding in the business
  • Getting better as you go through difficult times
  • How Shirin got into Rent-A-Center franchise
  • How it looked like going from zero to multiple stores
  • Having a franchisor that believes strongly in re-franchising
  • The idea behind re-franchising
  • Growing from 40 stores to 75
  • How the economy changes and the people is critical to the business and its growth
  • Keeping the humility
  • Having mutual trust within the family members in the business
  • Allowing freedom to identify if the skill fits within the family business
  • The vision for the future

What we mention: