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- 2022 Franchise 500 Rank
#133 Ranked #175 last year
- Initial investment
$593K - $1.3M
- Units as of 2022
170 37.1% over 3 years
Here’s what you need to know if you’re interested in opening a RNR Tire Express franchise.
Founded in 1999, RNR Tire Express is parented by SPF Mgt. Co. LLC. It is headquartered in Tampa, Florida. The franchise offers a wide selection of brand-name tires and wheels for sale and rental. In addition to this, they also offer free professional installation as well as quality customer service. The franchisor will provide initial training programs and various ongoing support options to help franchisees start and operate their franchise.
Why Should You Start an RNR Tire Express Franchise?
When considering opening any business, the first step is to evaluate the overall opportunity within the industry. Eighty-eight percent of Americans own at least one car, putting wheels and tires in high demand. Time and again, individuals will spend heavily on tires and auto services. Unlike some other competitors, RNR Tire Express has multiple payment options. This improves its market share in this industry because it provides customers with the products they need on a budget and time frame they can afford.
RNR Tire Express is a unique automotive industry brand selling custom tires and wheels to customers on a “Rent-and-Roll” basis, meaning the customer gets their wheels of choice and pays later. The customer will bring their driver's license, vehicle registration, pay stub, and proof of where they live to get the wheels of their choice.
Payments can be made weekly, bi-weekly, or monthly, depending on the customer's purchasing power. Currently, RNR Tire Express has over 100 franchises across the United States.
What Might Make an RNR Tire Express Franchise a Good Choice?
RNR Tire Express has been franchising since 2003. To become a franchisee, you must pay an initial franchise fee and other startup costs. Franchisees must also meet the company's set net worth and liquid capital requirements. A franchise term lasts ten years and might be renewed if both parties choose to do so.
As you review the franchise opportunity, it would be wise to speak to a financial planner and attorney as you make ready to sign a contract with RNR Tire Express.
If a franchisee is interested in operating their unit as an absentee franchisee, they can franchise and operate a location with a team of about six employees.
How to Open an RNR Tire Express Franchise
As you decide whether to buy a franchise with RNR Tire Express, make sure you take time to explore the opportunity. Research the brand and your local area to see if a franchise would do well in your community. While competition is healthy, too much of it may not allow for possible growth.
After getting started as a franchisee with RNR Tire Express, you will need to attend a discovery day in Florida. Here, you have the opportunity to meet the team in person. You will also be able to ask any outstanding questions at this meeting before reviewing the Franchise Disclosure Document.
Once deciding to join RNR Tire Express as a franchisee, you will complete training at RNR Tire Express University and prepare to open your store.
About RNR Tire Express
- Franchising Since
- 2003 (19 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, West Virginia, Wyoming
- # of Units
- 170 (as of 2022)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a RNR Tire Express 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $593,325 - $1,339,475
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
- $2,000,000 - $100,000,000
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
- $500,000 - $1,000,000
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- $15,000 off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Term of Agreement
- 10 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- RNR Tire Express 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
- 64 hours
- Classroom Training
- 37 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
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- # of employees required to run
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Interested in franchise ownership like RNR Tire Express? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where RNR Tire Express landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where RNR Tire Express ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to RNR Tire Express.
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