What Does a Byrider Used Car Franchise Investment Look Like and What Does It Get You?
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. Furthermore, we now have two investment options, our traditional model and our new Byrider Direct model, which represents a more economical entry point into our brand family. Here, we’ll take a brief look at some of the numbers and what they get you.
The Franchise Fee
All franchise brands require investors to pay a one-time initial franchise fee, and ours is $50,000. 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 $35,000 per location. Our traditional model will also require that you have approximately $1,000,000 in liquidity. 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.
Our new Byrider Direct model lets you break into our industry for less of an investment than our traditional model simply by keeping your focus on sales and service and leaving the financing to Corporate Byrider Finance to underwrite and collect on loans. If you choose this route as your used car franchise investment, you’ll be asked to pay the same $50,000 initial franchise fee but will only need approximately $400,000 in liquidity to grow your business.
Royalty Fees
In addition to your franchise fee, you’ll also be asked to pay a monthly royalty fee of 1% against gross sales and 2.5% against gross receipts (collections). 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: Our robust technology makes it simple and efficient for you to run all aspects of your business, leaving you more time for growth!
Protected Territory: You’ll enjoy an exclusive territory in which to grow your franchise and serve your community!
Expert Branding & Marketing: We make sure the trusted Byrider brand name is out there and in front of your best customer at all times!
Opportunities to Network: Annual Byrider meetings and conventions will give you the chance to meet other franchisees and share ideas, goals, and feedback!
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!
