Byrider Launches New Path to Landing Franchise
CARMEL, Ind.(BHPH) – Byrider is looking to make it easier for dealer operators and other entrepreneurs to gain a franchise in its network of buy-here, pay-here stores.
This week, the company announced the launch of its new franchising model, Byrider Direct, adding what executives believe is a new, simpler entry point into its franchising system.
Byrider said the new program has a lower initial investment that focuses exclusively on sales and service.
“Our team is excited to offer a new pathway to join in Byrider’s success,” Byrider chief executive officer Craig Peters said. “Underwriting and servicing a portfolio can be a very complex and capital-intensive part of the buy-here-pay-here business model.
“Byrider Direct addresses those potential challenges by allowing new franchisees to focus on retail and gives them a new access point in line with their experience and comfort level as they invest in a new partnership with us,” Peters continued.
Alongside Byrider’s traditional model, the company explained Byrider Direct can provide franchisees the opportunity to focus solely on the retail side (sales and service) and still garner strong returns.
Byrider Direct requires a lower capital investment and provides finance and portfolio support that can allow a new franchisee to harness the learned expertise of Byrider’s decades-long success.
“Byrider Direct is a leaner, meaner version of the traditional Byrider model, and it comes with everything a potential franchisee would expect, minus the financing arm,” Byrider vice president of franchise development Jack Humbert said.
“We’re engaging new investors with expanded investment level ranges to provide multiple options of entry to build a dealership and help consumers get a fresh opportunity to finance and own a quality vehicle,” Humbert went on to say.
Byrider pointed out the traditional franchise model continues to be an “incredibly” strong performer, requiring an estimated initial investment of around $1 million. That choice allows the franchisee full management of all operations, including underwriting and collection.
The company said exclusive territories are currently available for both Byrider Direct and Byrider’s traditional franchise offering.
For more details, go to www.byrider.com.