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J.D. Byrider

2015 Franchise 500
#223
At a Glance

Products & Services: Used auto sales and financing

Number of Locations: 161

Total Investment: $675.5K - $5.3M

Founded: 1979

Began Franchising: 1989

About J.D. Byrider

Owner of a Chevrolet-Cadillac dealership in Marion, Indiana, James F. DeVoe learned how profitable used cars could be when he added a used car dealership to his operation in 1979. With a $19 ad in the local paper, DeVoe sold eight cars the first week for a gross profit of $1,000 each. Ten years later, DeVoe founded J.D. Byrider in 1989 to offer used cars and financing. Indianapolis-based J.D. Byrider specializes in 5- to 10-year-old cars sold for an average of $7,000. Credit counselors guide customers toward vehicles within their price range. Every J.D. Byrider franchise is two companies working together: a used car sales company, J.D. Byrider, and a sub-prime auto finance company, the CarNow Acceptance Co. (CNAC). Both are independently owned and operated by franchisees.

Franchise Units

Year U.S. Canadian International Company Owned
2014 138 0 0 23
2013 126 0 0 23
2012 124 0 0 20
2011 119 0 0 15
2010 116 0 0 13
Where Seeking Franchisees: Franchisor is seeking new units internationally.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $675,480 - $5,277,500
Franchise Fee: $50,000
Ongoing Royalty Fee: 2.5%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $1,000,000
Liquid Cash Available: $1,000,000
Operations
50% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 15 - 20. Absentee ownership of franchise is allowed. (50% of current franchisees are owner/operators).
Direct Capital
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 2 weeks. At franchisee's location: Varies. Web-based curriculum
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives, Lease Negotiation
Marketing Support: Ad slicks,

Franchise Ranking History

Franchise 500®: #223 (2015), #232 (2014), #221 (2013), #221 (2012), #383 (2011), #407 (2010),

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