Wheel Workz, Premier Cos. form venture
MEMPHIS, Tenn.-Wheel Workz and Premier Cos. have formed a joint venture franchising company to sell custom wheels and tires.
Premier Wheel Workz, which will be based in Memphis, has 11 franchise owners signed on. Premier has nearly 50 independently owned franchised outlets in total.
Williamsburg, Va.-based Premier has offered tires and wheels among other merchandise sold retail or as rent-to-own. A spokeswoman said, however, the joint venture gives the firm's franchisees more knowledge and support concerning wheels and tires.
For its part, Wheel Workz partnered with Premier for franchising and financial support, said Tommy Crenshaw, vice president of operations for the joint venture. He said the main obstacle to expanding the Wheel Workz brand through franchising has been financing.
``Combining the expertise of the Premier organization with Wheel Workz will be unrivaled in the custom wheel and tire industry,'' said Premier President and CEO Trooper Earle. ``Premier brings to this joint venture our track record of franchising success, store opening and startup support, financing, (human resources) support and our extensive rent-to-own history. What Wheel Workz brings is their extensive knowledge of custom wheels and tires, aggressive pricing from their wholesale distribution, their retail knowledge, service, repair and operational support.''
Wheel Workz continues to own a company-owned retail store and a wheel distribution arm. The Memphis-based company sells, but does not wholesale, primarily Toyo, Nankang and Pirelli tires.