What Does the Byrider Auto Business Investment Look Like and What Can You Look Forward to as Our Franchisee?
Today, more and more people are reevaluating their careers and thinking about small business ownership as their way to live a more fulfilled life — and we applaud them! Owning a business can mean the potential for excitement and reward, especially when you make an auto business investment in a Byrider franchise. We’re the nation’s leading buy-here-pay-here used car dealership opportunity, and a partnership with us grants you immediate benefits that will elevate your business above your competitors. But what does our investment look like, and what does it get you? Let’s take a brief look here.
A Franchise Fee
A Byrider investment begins with paying a franchise fee. All franchisors require investors to pay this one-time fee, although the amount varies depending on the brand and the industry. In our case, that fee is $50,000. Paying it gets you immediate access to a long list of valuable resources, including our time-tested business model, our operations manuals, and our ongoing support. It also grants you the benefit of our highly respected brand name and other proprietary materials, including logos and trademarks. If you decide you’d like to open more than one Byrider dealership, you’ll pay an additional franchise fee of $35,000 per location.
Byrider has two investment entry points that, depending on your goals and resources, can make franchise ownership a reality. Both require payment of the same franchise fee amount, but each has different financial requirements: our Traditional model requires that you have approximately $1,000,000 in liquidity because this model comes with the ability to offer financing to your customers. On the other hand, our newer Byrider Direct model lets you break into our industry for less of an investment simply by keeping your focus on sales and service, leaving the financing to Corporate Byrider Finance for underwriting and collection. If you choose this option, you’ll be asked to demonstrate approximately $400,000 in liquidity to grow your business.
Having this kind of financial stability for either model is important when you first start out because it’ll allow you to weather the ups and downs of business and will enable you to focus more on growth.
Our Veterans Investment
The Byrider business opportunity is a great one for just about anyone who wants to be their own boss while offering something important to their community, and we value all our franchisees who do so! But we’re especially proud of the veterans who have transitioned back into civilian life as a Byrider dealership owner. We know they’ve made great sacrifices for our country, so we make it easier for them to become part of the Byrider family by offering a reduced franchise fee of $40,000. Veterans know it’s all about service — and we do, too! That’s why our veteran-friendly franchise opportunity is such a good fit.
Remember, though, that no matter how you come to our investment, you can count on our help to bring you up to speed on everything you need to know to take full advantage of our robust industry. We’ll help you at every turn, with expertise that includes:
- Initial training that goes over the day-to-day aspects of running your business
- Help finding and building out the perfect location for it
- Important supply chain and vendor support
- Marketing help to reach your best customer
- And much more!
With a Byrider investment, you’ll be in an auto business for yourself, never by yourself, for the life of your franchise!
Ready to find out more about an investment in an auto business with Byrider? Reach out today!