Rent a Wreck Franchise In USA Cost, Profit, How to Apply, Requirement, Investment, Review | SkillsAndTech

For nearly 40 years, Rent-A-Wreck and Priceless Car & Truck Rental have been pioneering firms in the car rental industry. We’ve built our brands to have over 50% name recognition in the US, and our customer rely on us to deliver savings, value and great customer service. We were the first vehicle rental company to offer used car rentals, and while there are many imitators, no one does it quite like us! For our franchisees we provide all the tools necessary to be successful in the car rental business. Whether you have an automotive background or not, we’ll provide you with the training, vehicles, advertising and marketing to put you on the fast track to success.

Rent a Wreck Franchise Wiki

See Also: Two Men and a Truck Franchise In USA

Rent a Wreck was founded in 1970 and they began franchising in 1977, about 43 years ago. The current CEO of the company is Jack Fitzgerald and they have their corporate head office at 13900 Laurel Lakes Ave., #100 Laurel, MD 20707, USA. As of the 2013 Franchise Disclosure Document, there are 82 franchised Rent-A-Wreck locations in the USA. The company has franchise locations in 31 states. The largest region is the Northeast with 36 franchise locations

Rent-a-Wreck is the smart alternative to all tourists car rental needs. They are one of the best-known neighborhood car rental companies in the U.S. and global market. Rest assured, their vehicles are more like the cars people drive every day.

They keep their fleet of cars, trucks, and vans clean and well maintained; they are far from wrecks! They hope that their funny name helps clients to remember them, and their low cost rentals and high quality customer service will earn and keep their business. Here are areas where you are expected to spend money and the cost associated with it;

Rent a Wreck Franchise Benefits

This is highly confidential information. Because this company had not disclosed it. You can only know about this after applying for the franchise. All this will be discussed when the basic criteria are met and fulfilled. You can know the procedure as follows.

Rent a Wreck Franchise Cost

See Also: Cold Stone Creamery Ice Cream Franchise In USA

1. Initial Investment Range – $159,105 – $459,607.

Except for security deposits, these payments are non-refundable. Please note that except for the initial fee installment payment and fleet leasing program described above, neither Rent-A-Wreck nor any affiliate will finance any part of the initial investment.

Please note that the franchisor relied on its experience from opening a location in the past and its experience in the Used auto rentals and leasing business and related business.

2. Initial Franchise Fee – $18,000 to $75,000

The Initial Franchise Fee is due when the Franchise Agreement is signed; or 1/2 is due when the Franchise Agreement is signed and 1/2 is due at the beginning of Operations Training. The full Initial Franchise Fee is due 180 days after you sign the Franchise Agreement, even if you have not attended Operations Training.

3. Royalty Fee

$34/car/mo and the Due Date for this fee is Paid by electronic funds transfer every Friday for the preceding Reporting Period. The amount of the Royalty Fee for any renewal term will be that provided in the Franchise Agreement executed for such renewal term.

3. Real Estate

See Also: Del Taco Franchise In USA

You may locate the Rent-A-Wreck Business in a free-standing location, a garage facility, an existing vehicle sales or repair facility, or any other location conducive to a vehicle rental business, as long as the location meets any applicable zoning restrictions. You may lease or already own the premises.

Please note that the rent or mortgage payments, if any, will vary depending on the size of your fleet, the type of site used for the Rent-A-Wreck Business and the availability of financing. For these reasons, Rent-A-Wreck cannot accurately estimate your occupancy expenses.

5. Leasehold Improvements – $0 to $10,000
6. Equipment, Fixtures, Furniture, and Signs – $2,000 to $20,000.

These costs are primarily affected by the type of location and whether you are converting an existing vehicle rental business to a Franchised Business. In particular, the higher amounts apply to stand-alone sites or new businesses that do not already have furniture, fixtures, and equipment, such as desks, chairs, and rental counters that meet Rent-A-Wreck’s standards.

The lower range covers Franchised Businesses operated within another existing business, such as a new or used car dealership, auto repair shop, or gas station.

The location, size, and condition of the premises also will affect these costs. Rent-A-Wreck provides an interior sign that is suitable for hanging behind or adjacent to the rental counter.

Please note that the franchisor does not currently require illuminated outdoor signage, but recommends it. Outdoor signage sign requirements are determined following a site survey and vary from site to site, depending upon location, zoning requirements, and other similar factors.

See Also: Basant Franchise In India

7. Rental Vehicles (12 vehicles is the minimum fleet requirement): $120,000 to $300,000

The costs and the number of rental vehicles will vary significantly depending on the location of the Rent-A-Wreck Business, availability of vehicles, the cost of purchasing and reconditioning vehicles, and the availability of fleet financing.

Rent a Wreck Franchise Requirements

This is highly confidential information. Because this company had not disclosed it. You can only know about this after applying for the franchise. All this will be discussed when the basic criteria are met and fulfilled. You can know the procedure as follows.

Rent a Wreck Franchise Profit

Franchise revenue depends on a wide range of factors, as does profit. How much money you can make from any franchise depends on a number of specific factors such as franchise location, labor costs, commercial lease rates and a number of other factors.

How to Apply For Rent a Wreck Franchise

To get the franchise first you have to fill the form. Then the company officials will contact you for further details. After that you you can open this franchise.

Apply Here

Rent a Wreck Franchise Contact details

See also: OMG Chai Franchise In India

Website

https://www.rentawreck.com/

FAQ

Q. Is it profitable or not?

Ans: It is fast moving consumer good products, so there is fewer margins but your sale is too high. So, obviously you can make more profit from this business

Conclusion

So far we have shared the basics for this franchise. It is the most profitable franchise. You will never doubt your decision to start this franchise. Go ahead and achieve your goal. If you find more information please feel free to share with us. Share your thoughts and we will definitely contact you with new franchise and opportunities. Stay Tuned for more franchise. Thank you

Disclaimer: The information given in this article like investment may varry from place to place, so we are not sure about the investment part.

If you need any help from our team then please fill the contact form our team will contact you soon. And if you like this post then please share this post.