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America's # 1 neighborhood car rental company, RENT-A-WRECK has attained the highest ratings in the franchising industry. For 5 successive years, Entrepreneur Magazine rated RENT-A-WRECK # 1 in its category for the prestigious Franchise 500 awards. The annual Success Magazine named RENT-A-WRECK 'one of the best-managed franchises in America.' Success surveyed over 2,800 franchise companies in all industries and ranked RENT-A-WRECK 4th.
Franchisor Background
Year Established: 1968
Franchising Since: 1973
Operating Units: |
| Franchised Units: | 195 | | 84.4% | | |
| Company-Owned Units: | 0 | | 0% | | |
| | ______ | | _____ | | |
| Total Operating Units: | 231 | | 100% | | |
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Geographic Distribution: |
| U.S.: | 195 | | 84.4% | | In 49 States |
| Canada: | 0 | | 0% | | In 0 Canadian Provinces |
| International: | 36 | | 15.6% | | In 3 Foreign Countries |
| | ______ | | _____ | | |
| Total: | 231 | | 100% | | |
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North America: |
| States/Provinces with the largest number of operating units: |
| Density | Units | | | | |
| 1. California | 33 | | 2. New Jersey | 31 | | 3. New York | 34 |
Registered in Following Registration States: California, Florida, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, Wisconsin, District Of Columbia
Financial Requirements
Investment: |
| Minimum Net Worth: | $250K |
| Cash Investment: | $50K |
| Total Investment: | $100-362K |
| Average Total Investment: | $231K |
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Fees: |
| Initial Franchise Fee: | $15K |
| Average Franchise Fee: | $0K |
| On-Going Royalty: | $30/Car |
| Average Royalty: | 0% |
| Advertising Fee: | $7/Car |
Average Number of Employees: 2 Full-time, 1 Part-time
Space Needs (in square footage): 1,500
Preferred Sites: Free-standing Building, Storefront, Strip Center
Other Sites:
Encourage Conversions? No
Earnings Claims Provided? Yes
Listed in the SBA Registry? No
Support and Training
| International Franchise Association: | Yes |
| Canadian Franchise Association: | No |
| Franchisee Association/Member: | Yes, Member |
| Size of Corporate Staff: | 12 |
| Site Selection Assistance? | No |
| Lease Negotiation Assistance? | No |
| Financial Assistance? | No |
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Marketing Support: |
| Co-Op Advertising: | Yes |
| National Advertising: | Yes |
| Regional Advertising: | No |
| Local Advertising: | No |
| Marketing Materials: | Ad Slicks, Brochures, Catalogs, Coupons/rebates, Direct Mailers, Emails, Promotional Items, Radio Ads, Site Signs, Television Ads, Trade Show Exhibits, Videos |
| Additional Services: | Grand Opening, In-house Marketing, Marketing Research, Newsletter, Online Extranet, Press Releases, Sales Strategies |
| Other Marketing Support: | None Specified |
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On-Going Support: |
| Central Data Processing: | Not Applicable |
| Central Purchasing: | Not Applicable |
| Field Operation Evaluation: | Included in Fees |
| Field Training: | Included in Fees |
| Initial Store Opening: | At Additional Cost |
| Inventory Control: | Not Applicable |
| Franchisee Newsletter: | Included in Fees |
| Regional or National Meetings: | At Additional Cost |
| 800 Telephone Hotline: | Not Applicable |
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Training: |
| 1. Laurel, MD | 1 Week |
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Franchisee Qualifications
| Ranked from 1 (unimportant) to 5 (important): |
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| Financial Net Worth: | 5 |
| General Business Experience: | 5 |
| Specific Industry Experience: | 2 |
| Formal Education: | 3 |
| Psychological Profile: | 3 |
| Personal Interview(s): | 3 |
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Minority Representation
Units Owned by Minorities: |
| African-American: | 15 |
| Asian-American: | N/A |
| Hispanic: | N/A |
| Native American: | N/A |
| Other: | N/A |
| Specific Minority: | Although we strongly support the objectives of the NMFI, we do not yet have any specific programs in place at this time. |
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Terms of Contract
| Term of Initial Contract: | 5 Year(s) |
| Term of Renewal Period: | 5 Year(s) |
| Passive Ownership: | Allowed, But Discouraged |
| Area Development Agreements? | Yes, for 0 Year(s) |
| Sub-Franchising Contracts? | No |
| Franchisees Allowed to Expand Within Territory? | Yes |
Expansion Plans
Projected New Units Over Next 12 months: 12
| U.S.: | Yes, All United States |
| Canada: | No |
| Overseas: | No |
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