The Byrider Used Car Franchise Investment
If you’re thinking about going into business for yourself, you’re probably prepared to invest a decent amount of time, energy, and resources into your efforts. The fact is, you simply can’t start a business without doing so, and opening a Byrider franchise is no exception. The good news is we’ve been helping people start their franchises for decades, so we have a strong sense of what a used car franchise investment looks like.
The Franchise Fee
All franchise brands require investors to pay a one-time initial franchise fee, and ours is $60,000. This fee grants you immediate access to valuable resources, including our time-tested business model and our Operations manuals, as well as allows you to use our highly respected brand name and other proprietary materials. If you decide you’d like to open more than one Byrider dealership, you’ll pay an additional franchise fee of $40,000 per location. We also require that you have a minimum of $814,750 ready to invest.. Having this kind of financial stability 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.
Royalty Fees
In addition to your franchise fee, you’ll also be asked to pay a monthly royalty fee of $5,500 for your first year. After your first year, the royalty fee is 1% of gross sales (minimum $7,500) plus 1.9% of collections monthly. These fees offset the cost of the ongoing support you’ll receive for the life of your business, which will help keep your dealership in front of your best customer and your community’s go-to source for quality used cars.
What You Can Look Forward To
Your Byrider used car franchise investment comes with incredible benefits that will not only prepare you for doing business successfully but also keep you a leader in our industry! These advantages include:
Proprietary Software: Harness the buying power of an entire dealership network. Byrider franchisees benefit from our continual investment in technology upgrades. We even have an established proprietary sales CRM to ensure you are backed with verified and centralized information. Our IT support is readily available so you can focus on the business.
Protected Territory: You’ll enjoy an exclusive territory in which to grow your franchise and serve your community! Check out the available locations for your Byrider franchise here.
Expert Branding & Marketing: We make sure the trusted Byrider brand name is out there and in front of your best customer at all times! Not to mention, each franchisee immediately becomes a member of the Byrider Advertising Group Inc. where an entire dealership marketing package can be developed and made available for placement and execution. This package includes research-based marketing strategies as well as targeted advertising materials, including television, radio, print, direct mail, outdoor and point-of-purchase material.
Ongoing Training and Support:: When you franchise with Byrider, you receive your own Franchise Consultant. These experts have an average of 15 years of Byrider experience, and all have in-store experience. They will help you with every step along the way of opening and operating your own dealership:
- Recruiting
- Training
- Compliance/Legal
- System Support (IT)
- Marketing
- Vendor Partnerships
- Dealer Solutions
- Connection to Other Franchisees
- On-site visits pre-opening, opening, and post-opening Formal training is conducted at the Byrider training center in Carmel, IN, for sales, service, finance, accounting, and personnel management.
As you can see, a Byrider used car franchise investment is a terrific way to break into our robust industry and enjoy the many perks that come with it!
If you’d like to find out more about a Byrider investment, reach out today and request a copy of our Franchise Disclosure Document!
