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Payless Car Rental System Inc.

Auto rentals & sales

Background

Founded: 1971 Franchising since: 1971
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.
2350-N 34th St. N.
St. Petersburg, Florida 33713
Phone:
(727)323-0943


Franchisor is a privately-held company with 55 employee(s); 5 employee(s) in franchise department.

Franchise Growth
Year U.S. Franchises Canadian Franchises Foreign Franchises Company Owned
2006 37 0 48 6
2005 44 0 48 7

Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, United states, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming

Exclusive territories available.
Territory size: Varies

Costs and Fees

Total investment: $252.5K-6.5M
Franchise fee: $20K-500K
Ongoing royalty fee: 4-5%
Term of agreement: 5 years, renewable


Type of Financing Available
In-House Third Party
Franchise Fee No No
Startup Costs No No
Equipment No No
Inventory No Yes
Accounts Receivable No No
Payroll No No

Qualifications
Net worth requirement: $500K
Cash liquidity requirement: $100K-300K
Business Experience:
  • Industry experience
  • General business experience

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)

Training and Support

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

Rankings

Franchise 500® rank:
#500 (2006);


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