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Entrepreneur: Start & Grow Your Business

Payless Car Sales Inc.

Used car sales

Background

Founded: 2001 Franchising since: 2001
2350 34th. St. North
St. Petersburg, Florida 33713
Phone:
(727)323-0943


Franchisor is a privately-held company with 14 employee(s); 5 employee(s) in franchise department.

Franchise Growth
Year U.S. Franchises Canadian Franchises Foreign Franchises Company Owned
2007 52 0 0 0

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
Worldwide

Exclusive territories available.
Territory size: 5-mile radius

Costs and Fees

Total investment: $351.7K-3.1M
Franchise fee: $30K
Ongoing royalty fee: $2.5K+/mo.
Term of agreement: 5 years, renewable


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

Qualifications
Net worth requirement: $500K
Cash liquidity requirement: $160K
Business Experience:
  • Industry experience
  • General business experience
  • Marketing skills

Operations
  • 12% of all franchisees own more than one unit
  • Number of employees needed to run franchised unit: 8 - 10
  • Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators)

Training and Support

Training
  • Available at headquarters: 2 days
  • At franchisee's location: 1-2 weeks

Ongoing Support
  • Newsletter
  • Meetings
  • Toll-free phone line
  • Grand opening
  • Internet
  • Security/safety procedures
  • Field operations/evaluations
  • Purchasing cooperatives