Byrider is the nation’s leading used car dealership and finance enterprise. Our company integrates vehicle sales and financing to give the franchisee the greatest control over their used vehicle business as well as the ability to sell to the customers they feel are qualified. It is the only small business franchise opportunity in America that also allows you to function as a bank or lender.
Using the Byrider franchising model, the automobile retailer is no longer reliant upon a lender to make the sale. You will be wearing both hats, retailer and lender, giving you an unprecedented amount of control over each automobile sale. Being both retailer and lender offers a remarkable business model which will yield a high return on your investment. And when you franchise with us, making sure you see the fruits of your labor is incredibly important to us.
With more than 1 million consumers matched to quality and an inventory of affordable vehicles, Byrider franchises focus on reliability and customer satisfaction. Our commitment to offer a better car, company warranty on service, and superior customer service is what sets us apart. Byrider franchises are dedicated to smashing stereotypes associated with the used car industry and setting a new industry standard for the ethical treatment of customers, as well as the way customer lending practices are handled.
Byrider actively seeks qualified franchisees from a wide variety of backgrounds. Your ability to manage a team, hold them accountable, and keep them focused on the fundamentals of the used car business is the greatest indicator of a franchise candidate’s potential success. Our expert staff will provide the training you need in the technical aspects of your used car franchise, as well as how to effectively use our company’s tremendous software model. How you put that training to use will ultimately determine your success.
The revolutionary idea behind the Byrider franchise was first conceived in Marion, Indiana, in 1979. The concept was the vision of Jim DeVoe Sr., who was working with his father, Paul DeVoe, running a Chevy-Cadillac store. Jim DeVoe’s vision was developed out of necessity. As interest rates were high and new car sales were sagging in the late 1970s, many people in tiny Marion were blue-collar workers who could not qualify for financing on a new car, yet needed transportation to get to and from their jobs.
Jim developed a business model that would allow his dealership to compete in the buy-here-pay-here category by offering consumers cars and financing all in one location, thereby making it easier to surpass the competition. His success led him to develop an educational package which he used to show other car dealers across the country how they too could succeed in this category.
Through the Auto Credit Seminars, hundreds of dealers learned many of these trade secrets that made Jim so successful. Eventually, Jim’s interest in franchising his concept led to the inception of the Byrider brand, and he opened his first location in 1989. In 1993, the company moved its corporate headquarters to Indianapolis, where it remains today. In 1997, we adopted the iconic “You get the credit, you get the car” campaign, and signed a landmark sponsorship deal with Tony Stewart. Here’s a look at some of our more recent history, which you should be aware of before deciding to open your own ByRider franchise.
1999 –Ad campaign changes to “Easy as 1, 2, 3, DRIVE!”; Opens 100th dealership.
2000- Moved to new corporate headquarters in Carmel, Indiana.
2002- Byrider adopts “Good to Go” campaign.
2006- Byrider adopts “to the Rescue…Good Cars for People Who Need Credit” campaign.
2011– Altamont Capital Partners acquires Byrider to provide strategic direction, resources, and capital for long-term company growth.
2012- Byrider closes first asset-backed securitization, receiving AA rating.
2012- Byrider reaches $1 billion in outstanding retail installment contracts.
2013- Byrider sells its 1 millionth vehicle.
2015- Byrider celebrates more than 25 years of franchising with record growth.
2017- Byrider reaches 152 locations and $1.3 billion dollars in outstanding receivables
It is important to us that our franchisees’ goals align with our company vision. We aim to give every customer the option to purchase a quality vehicle at an affordable rate. Offering private financing for the consumer sets us apart from other used car companies out there, and we truly believe that this unique model gives franchisees a profitable business opportunity for entrepreneurs looking to diversify. We are the only franchise in the country that allows our dealers to also act as a bank; our business model has been in place for over 30 years, and proven successful time and time again.
Our track record speaks for itself. Currently, Byrider has 150 dealerships in total – 30 owned directly by the company, with the rest owned by franchisees – and our average franchisee has at least three locations, making it the perfect opportunity for those looking to build a business empire.