NextCar

NextCar

Auto rentals
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Franchise 500 2023
2023 Franchise 500 Rank
N/R Not ranked last year
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Initial investment
$340K - $790K
Units as of 2020
20 arrow up 11.1% over 3 years

Founded in 2003, NextCar is a rental car company located mainly in the mid-Atlantic United States. In 2015, NextCar started franchising under the NP franchise group. Since then, NextCar has opened several franchises in the United States.

At NextCar, clients typically get a competitive deal for a rental car, whether it be for short or long-term rental. NextCar promises quality each time it rents out its cars to its customers. With this franchise, you may be part of a business that caters to your success as a franchisee. 

Why You May Want to Start a NextCar Franchise

If you’re a petrol-head and love to spend your time around cars, then opening a NextCar franchise may be right up your alley. A NextCar franchise may be tailored for those passionate about business and providing quality service. A franchisee should be ready to listen to their customers and provide the best service in an effort to make them return clients.

NextCar has received recognition for its contribution to creating a greener planet, potentially making it an environmentally friendly company. 

What Might Make a NextCar Franchise a Good Choice?

As a NextCar franchisee, your main responsibility will be to carry on the company's spirit. This means that your service delivery should be top-notch and your fleet of cars unmatched. Additionally, a NextCar franchisee should exude professionalism. Additionally, conducting rigorous market research could help your NextCar franchise remain competitive.

To be part of the NextCar team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising fees and royalty fees. Franchisees will also need to meet the company’s set net worth and liquid capital requirements. 

A term of agreement with NextCar may last for an indefinite period of time. This may make it so franchisees do not have to worry about paying for renewal fees.

NextCar may offer in-house help covering the cost of inventory to franchisees who meet their qualifications. The company may also offer a discount off the franchise fee to honorably discharged veterans.

How To Open a NextCar Franchise

Opening a NextCar franchise could offer a more predictable outcome than investing in a completely new brand that may struggle to thrive in an already crowded and competitive industry.

As part of your due diligence, you should speak to current NextCar franchisees and ask the franchising team questions about the opportunity. 

If awarded a franchise, franchisees may receive a great deal of support from the NextCar franchise brand throughout the franchising process. In addition to pre-opening training, franchisees could receive support through brand awareness, marketing, research, and construction. Franchisees may also receive hands-on training and continued support after their franchise location has opened.

It may be a good idea to speak with an attorney or financial advisor to ensure that you have the necessary financial resources to own and operate a NextCar franchise.

Find Your Perfect Franchise

Company Overview

About NextCar

Industry Automotive
Related Categories Miscellaneous Automotive Products & Services, Auto Rentals & Sales
Founded 2003
Parent Company NP Auto Group
Leadership Michael DeLorenzo, President
Corporate Address 13900 Laurel Lakes Ave., #100
Laurel, MD 20707
Social Facebook, Twitter

Business Overview

Franchising Since 2015 (2023-2015 years)
# of employees at HQ 25
Where seeking

This company is offering new franchisees in the following US states:

This company is offering new franchisees in the following international regions:

# of Units 20 (as of 2020)

Information for Franchisees

Here's what you need to know if you're interested in opening a NextCar 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 Information Circle
$20,000 - $100,000
Initial Investment Information Circle
$339,992 - $790,226
Net Worth Requirement Information Circle
$500,000
Cash Requirement Information Circle
$50,000
Veteran Incentives Information Circle
$2,000 off franchise fee
Royalty Fee Information Circle
$34/car/mo.
Ad Royalty Fee Information Circle
$8/car/mo.
Term of Agreement Information Circle
Indefinite
Is franchise term renewable? No
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

In-House Financing NextCar offers in-house financing to cover the following: inventory

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 8 hours
Classroom Training 32 hours
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Ad Templates
National Media
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Information Circle
No
Can this franchise be run part time? Information Circle
No
# of employees required to run 3
Are exclusive territories available? Information Circle
Yes
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Franchise 500 Ranking History

Compare where NextCar landed on this year's Franchise 500 Ranking versus previous years.

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022