Rent-A-Wreck of Richmond owner Matthew Allen discusses the value of attending conventions and meetings.
As a franchise owner you are able to work independently and also have the support and brand recognition of the franchising company. The franchising company helps facilitate rapid expansion, lower capital expenditures, lower on-going expenses, and marketing advantages.
A recent study conducted by The United States Chamber of Commerce found that 86% of franchises that opened in the last 5 years still existed under the same ownership and 97% were still open for business. Another recent U.S. Small Business Administration study found that 62% of non-franchise owned businesses were closed within the first six years.
In the past five years, we have had no failures or closures from our newest franchise owners. We've hit upon a winning formula for success. Qualified entrepreneurs who are passionate about delivering great customer service combined with our near turn key car rental system, trained and supported by our highly respected and experienced team.
In big and small markets around the country, we teach the car rental business, how to price for profit and create your own niche alongside the major, corporate owned car rental companies. We are partners with our franchise owners and we provide direct support by providing fleet financing through our company owned leasing program, insurance through our company owned program, revenue through our own integrated point of sale, management and reservation system, and support through our full time team of professionals.
Absolutely! Adding a Rent-A-Wreck franchise to your existing business is a great way to bring greater convenience to your customer, create more traffic at your business, and gain additional revenue. The greatest part is that you will avoid all the risk of sending your customers to an outside party.
New franchisees are assigned an Area Development Manager (ADM) to ensure a quick and efficient launch. Our goal is for all new locations to be on a fast track to profitability. Our opening processes and the individual attention from our ADM's helps to eliminate the guesswork for our newest franchise owners. Following the store opening, our ADM's remain in constant contact with their franchises, providing advice, support and training.
No Problem! Our five-day initial training program will cover all the information you will need to start a successful Rent-A-Wreck Franchise. Also our knowledgeable ADM's will be readily available to answer any questions you may have and are there to assist you in making your business profitable.
Rent-A-Wreck has a comprehensive five-day initial training seminar that covers all the information you need to open a successful Rent-A-Wreck business. In addition, we also provide opportunities for you to continually expand your knowledge with resources such as our webinars, quarterly newsletters, and regional and national franchisee meetings.
Opening costs vary widely and depend on a variety of factors. Unlike many other Automotive opportunities that require investments in specialized equipment and highly trained technicians, the primary investment in a Rent-A-Wreck franchise is in the fleet of automobiles.
A franchise sales manager will discuss initial fleet costs and potential financing options including our own company owned leasing and financing program with franchise candidates on an individual basis.
Start up costs not related to vehicles are estimated between $10,000-$20,000 and cover assets like furniture, computers, signs, advertising and working capital.
One Time Initial Franchise fee: $18 - $75K depending on exclusive, non exclusive and airport territory selection.
Initial fee includes: interior sign and location branding kit and our integrated WebRent point of sale, business management and reservation system, including color signature pads, integrated chip and pin card processors and other specialized system hardware.