Based in Carmel, Indiana, Byrider stands out as a prominent franchise in the American used car sales and finance industry. Established in 1979 by James F. DeVoe in Marion, Indiana, Byrider has grown significantly over the years.
The franchise operates on a buy-here-pay-here model, seamlessly combining vehicle sales and service with consumer financing.
This approach provides franchisees with substantial control over their business, enabling them to operate similarly to a bank or lender. Byrider began franchising in 1989.
Additionally, Byrider's commitment to customer satisfaction and community engagement has solidified its position as a trusted name in the used car market. By prioritizing transparency and reliability, Byrider continues to attract both customers and potential franchisees.
Here's what you would need to invest if you were to start this franchise. These costs are provided by the franchisor in the Franchise Disclosure Document.
Byrider provides a comprehensive and well-structured training program for its franchisees, encompassing several key components:
Initial Training Program: This essential program is mandatory for the franchisee's designated manager and up to three additional employees. It consists of approximately two weeks of combined classroom and hands-on instruction.
The curriculum covers various operational aspects, including sales and marketing strategies, financial management, quality control, customer service techniques, record keeping, reporting procedures, and other essential operational topics. Training takes place at Byrider's headquarters or another designated location. Franchisees are responsible for all related costs, including travel, accommodation, and employee salaries.
Classroom Training Certification: Participants who successfully complete the training sessions to Byrider Franchising's standards receive certification in each training area. Certificates are awarded to trainees who demonstrate proficiency, confirming their successful completion of training. Experienced Byrider Franchising staff members, who have extensive experience in the industry, deliver the training.
Additional Training: From time to time, Byrider may require franchisees, their managers, or employees to attend further training programs. These sessions are held at the company's main offices or other locations selected by the company, ensuring continuous improvement and adherence to the latest operational standards.
Franchisees within the Byrider Franchising system receive a non-exclusive franchise to operate their business. They are allocated a "Protected Territory," though this area is not exclusive.
Byrider pledges not to operate or authorize another franchise for a Byrider Business within the designated protected territory. However, if a franchisee breaches the Franchise Agreement and does not rectify the issue within the specified cure period, this commitment may be voided.
Even with a protected territory, franchisees might still face competition. This competition can come from other franchisees, Byrider Franchising-owned outlets, or other distribution channels or competitive brands under Byrider Franchising's control.
KEY FRANCHISE STATS
All you need to know about this franchise
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