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J.D. Byrider

2014 Franchise 500
#232
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 franchise units in the following states:
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, Midwest, Nebraska, North Carolina, North Dakota, Northeast, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South, South Carolina, South Dakota, Southeast, Southwest, Tennessee, Texas, Utah, Virginia, Vermont, West, Washington, Wisconsin, West Virginia, Wyoming.
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®: #232 (2014), #221 (2013), #221 (2012), #383 (2011), #407 (2010),