
Byrider
Used-auto sales and financing- 2023 Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$815K - $1.4M
- Units as of 2022
-
148 1% over 3 years
Company Overview
About Byrider
- Industry
- Automotive
- Founded
- 1979
- Parent Company
- Byrider Systems Inc.
- Leadership
- Craig Peters, CEO
- Corporate Address
-
12802 Hamilton Crossing Blvd.
Carmel, IN 46032
Business Overview
- Franchising Since
- 1989 (34 years)
- # of employees at HQ
- 422
- Where seeking
-
This company is offering new franchisees in the following US states: Alaska, Alabama, Arkansas, Arizona, Colorado, Connecticut, District of Columbia, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Wisconsin, West Virginia, Wyoming
- # of Units
- 148 (as of 2022)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Byrider franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $60,000
- Initial Investment
- $814,750 - $1,437,500
- Net Worth Requirement
- $800,000 - $1,500,000
- Cash Requirement
- $200,000 - $1,500,000
- Veteran Incentives
- $10,000 off franchise fee
- Royalty Fee
- $395/vehicle
- Ad Royalty Fee
- $2.75K/mo.
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Byrider has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- As needed
- Classroom Training
- 72+ hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- Yes
- Can this franchise be run from home/mobile unit?
- No
- Can this franchise be run part time?
- No
- # of employees required to run
- 12-20
- Are exclusive territories available?
- Yes
Interested in ownership opportunities like Byrider? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Byrider landed on this year’s Franchise 500 Ranking versus previous years.
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