Payless Car Rental Franchise
Thursday, April 29, 2010 at 11:32PM Car rental
Payless Car Rental was established in 1971 in Spokane, Washington, by Les Netterstrom and his wife, Dusty. By 1982, their small two-location car rental business had grown to almost 100 franchises and one corporate-owned location. In 1983, the 150-location company changed its name to Payless Car Rental System Inc. In 1989, Netterstrom sold the company to a Taiwanese investment group. Eighty percent of the privately held company's franchise units are conversions; 47 percent of the franchise business owners own multiple locations.
Start-up Costs & Franchises Fees
What is the total cost to open a Payless Car Rental Franchises?
Total Cost: $217,900-$6,300,000 USD
Total Franchise Fees: $15,000 USD -$500,000 USD
Ongoing Royalty Fees: 4-5%
Ongoing Advertising Fees:
Term of Agreement: 5 years
Franchise Agreement Renewal Fee: $2.5K
Contact Information for Payless Car Rental
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Payless Car Rental System Inc. |
Phone Number: (727)321-6352 |
Payless Car Rental In the Press
No results at this time.Historical Expansion
In what year did Payless Car Rental begin operations? 1971
When did Payless Car Rental begin selling franchises? 1971
Year United States Canada International Corporate 2005 55 0 44 7 2004 63 1 40 3 2003 51 1 35 2 2002 67 1 50 2 2001 73 0 47 0
Future Expansion
Countries of Interest: Central America, South America,
Franchise Financing Information
Cost In House Financing Available? 3rd Party Financing Available? Franchise Fee No Yes Initial Start-up Capital No Yes Plant, Property, and Equipment No Yes Inventory No Yes Accounts Receivable No No Payroll No No
Training & Support
Training
Ongoing training available as needed
Support
In the Pressletter, Meetings, Toll free phone number, Grand opening support, Internet referrals, Safety and Security procedures, Field support and site evaluation, Purchasing cooperatives
Marketing
National media
Franchise Operation Restrictions
47% of all franchise business owners own more than one franchise location.Number of employees needed to run franchised unit: 4 - 20
Absentee ownership of franchise is allowed. (75% of current franchise business owners are owner/operators)
Qualifications & Business Experience
Business Experience:
Industry experience General business experience
Franchise Analyzer Professional's Inside Information
Can you buy this franchise for no money down? YesPlease note: You must download a free copy of Franchise Analyzer Professional to receive these benefits and so much more. Click here to download your FREE copy now.
What key terms in the franchise agreement can be negotiated? Cross-default provisions, arbitration clause, personal guarantee, default cure periods, non-compete agreement, favorable valuations for corporate buyout
Can you negotiate lower royalties during start-up? Yes
Can you purchase multiple franchises for a discounted franchise fee? Yes
Can you receive lower advertising fees? Yes
Will I know when the franchise break even? Yes
Will my personal assets including my home be safe in case my franchise business fails? Yes