Payless Car Rental System Inc.
At a Glance
Products & Services: Auto rentals & sales
Number of Locations:
Total Investment: $252.5K - 6.5M
Founded: 1971
Began Franchising: 1971
Private Owned
About Payless Car Rental System Inc.
Payless Car Rental was established in 1971 in Spokane, Washington, by Les Netterstrom and his wife, Dusty. By 1982, their small two-location car rental business had grown to almost 100 franchises and one corporate-owned location. In 1983, the 150-location company changed its name to Payless Car Rental System Inc. In 1989, Netterstrom sold the company to a Taiwanese investment group. Eighty percent of the privately held company's franchise units are conversions; 47 percent of the franchisees own multiple locations.Startup Costs, Ongoing Fees and Financing
Total Investment: $252,500 - $6,500,000
Franchise Fee: $20,000 - $500,000
Ongoing Royalty Fee: 4-5%
Term of Franchise Agreement: 5 years, renewable
Franchise Fee: $20,000 - $500,000
Ongoing Royalty Fee: 4-5%
Term of Franchise Agreement: 5 years, renewable
Financial Requirements
Net Worth: $500,000
Liquid Cash Available: $100,000 - $300,000
Operations
47% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 4 - 20. Absentee ownership of franchise is allowed. (75% of current franchisees are owner/operators).| Financing Type | In-House | Third Party |
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How This Franchise Supports Franchisees
Training: Available at headquarters: 3 days. At franchisee's location: 3 days. Ongoing training available as needed
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives,
Marketing Support: National media,
Other marketing support: Internet marketing
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