Charlie Loudermilk says he initially didn't want to franchise his successful rent-to-own stores, Aaron Rents.

But today he admits franchising has helped grow the Atlanta-based company into a $2 billion business, with stores across the United States and Canada, in places he may not have gone without franchisees.

The concept is easy: lease products —- from sofas and lamps to TVs and computers —- to consumers for 24 months. At the end of that time, if they haven't turned it in, they own it.

Last year, the company sold 300 franchises, thanks in part to Greg Tanner, Aaron Rents' director of franchising.

Loudermilk, chairman and chief executive officer, said he's pleased with franchise sales. "He's picked it up dramatically," he said of Tanner. "We're selling them quicker than we can open them."

Those 300 new franchises are set to open in the next three years. Since starting the franchise program in 1992, 500 of the chain's 1,560 locations are now franchised. The goal is to have 3,000 stores in the next five years.

For Tanner, a Vietnam vet and self-starter who never attended college, selling franchises is a passion. And he says Aaron Rents is "inflationary proof."

Q: Can Aaron Rents stores succeed in a downturn?

A: Our customers live in a constant recession. They don't own stocks. They live paycheck to paycheck, day by day. We're pretty much an inflationary-proof business.

Q: How are you inflationary proof?

A: When the economy is down, business is up. When the economy is up, business is up, if people have more money to spend.

Q: But if these customers live paycheck to paycheck, doesn't that mean they may not pay Aaron Rents?

A: For some people, we are their last source for merchandise, so they don't burn that bridge. We become a "getting place."

Q: But how much debt goes unpaid?

A: Our write-off is less than 3 percent, for broken goods and nonpayment. And if a customer doesn't pay their bills, the item is repossessed and rented again as a used item to another customer.

Q: Do you check credit?

A: No, customers just need to show they have a job and a residence and provide two references.

Q: What products do people want?

A: Computers and flat-screen televisions. We're one of Dell's and Philip's largest distributors of products. We carry no unknown brands, only brands people relate to, like Neptune, GE, Maytag, Sony and HP. With nearly 1,600 stores, we're shipping about 1,500 televisions a day. People don't realize the magnitude of what we do.

Q: How much does it cost to buy an Aaron Rents franchise?

A: You need $450,000 net worth and $350,000 in liquidity per location. Our average investor has a net worth of $6.5 million.

Q: Who is buying Aaron Rents franchises?

A: Former doctors, lawyers, real estate developers. We're dealing with people who've been extremely successful doing other things and are very astute. But I know they don't know more about Aaron Rents than I do. It's a lot of fun.

Q: What's your pitch?

A: I tell people who sit next to me on a plane, "Don't ask me about Aaron Rents, or I'll have you quitting your job and buying a franchise in 15 minutes." It never fails.

Q: What convinces them?

A: Fifty percent of U.S. households make less than $50,000 a year and are under credit restraints.

THE GREG TANNER FILE

> Age: 60

> Residence: Bold Springs (near Athens) and a condo in Florida.

> Family: wife, Fran Tanner, a Realtor; son, Lewis, 33; twin daughters, Lindsey and Melissa, 30; and four grandchildren.

> Hobbies: Golf and sail fishing.

> Background: An Atlanta native and Vietnam War vet, he taught himself about franchising in his 20s. He went on to own MAACO Collision Repair & Auto Painting and U-Save Car & Truck Rental franchises. A former regional vice president for Quiznos, he now works about 70 hours a week selling Aaron Rents franchises.

> Book he's reading: "Faith of My Fathers: A Family Memoir," written by John McCain and Mark Salter.

> Favorite aspect of his job: Putting people in business.