
Rent-A-Wreck
Used auto rentals and leasingThis company's data may be out of date.
- 2022 Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$159K - $460K
- Units as of 2016
-
132 13.2% over 3 years
Company Overview
About Rent-A-Wreck
- Industry
- Automotive
- Related Categories
- Auto Rentals & Sales
- Founded
- 1970
- Parent Company
- Bundy American Corp.
- Leadership
- Jack Fitzgerald, CEO
Franchising Overview
- Franchising Since
- 1977 (45 years)
- # of employees at HQ
- 20
- Where seeking
-
This company is seeking new franchisees in the following US states:
This company is seeking new franchisees in the following international regions:
- # of Units
- 132 (as of 2016)
Franchisor Information
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Rent-A-Wreck 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
- $18,000 - $75,000
- Initial Investment
- $159,105 - $459,607
- Net Worth Requirement
- $250,000
- Cash Requirement
- $50,000
- Veteran Incentives
- $2,000 off franchise fee
- Royalty Fee
- $34/car/mo.
- Ad Royalty Fee
- $8/car/mo.
- Term of Agreement
- 5 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.
- In-House Financing
- Rent-A-Wreck offers in-house financing to cover the following: franchise fee, startup costs, equipment, inventory
- Third Party Financing
- Rent-A-Wreck 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
- 3 days
- Classroom Training
- 5 days
- Additional Training
- At counter classes, marketing seminar, and through newsletter
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField Operations
- Marketing Support
-
Ad TemplatesNational Media
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
- 2
- Are exclusive territories available?
- Yes
Work with our free FranCoach and get what you need to start a Rent-A-Wreck franchise.
Franchise 500 Ranking History
Compare where Rent-A-Wreck landed on this year’s Franchise 500 Ranking versus previous years.
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