Byrider Launches New Entry Point for Franchisees
APRO member Byrider Franchising LLC recently announced the launch of Byrider Direct, a new franchising model that will offer an easier entry point into its successful franchising system. Byrider Direct requires a lower capital investment than the company’s traditional model, and provides finance and portfolio support.
“Our team is excited to offer a new pathway to join in Byrider’s success,” said Byrider CEO Craig Peters. “Underwriting and servicing a portfolio can be a very complex and capital-intensive part of the buy-here-pay-here business model. Byrider Direct addresses those potential challenges by allowing new franchisees to focus on retail sales and service, and by giving them a new access point in line with their experience and comfort level.”
“Byrider Direct is a leaner, meaner version of the traditional Byrider model,” agreed Byrider Vice President of Franchise Development Jack Humbert. “It comes with everything a potential franchisee would expect, minus the financing arm. We’re engaging new investors with expanded investment level ranges, so we can provide multiple options of entry to build a dealership, and help consumers get a fresh opportunity to finance and own a quality vehicle.”
Byrider’s traditional franchise model continues to garner strong returns. It requires an estimated $1 million initial investment, which gives the franchisee full management of all operations, including underwriting and collection. Both Byrider’s traditional franchise offering and Byrider Direct have exclusive territories currently available.
Founded in 1989 as J.D. Byrider, Byrider today is one of America’s largest buy-here-pay-here used-car dealership and franchise systems, having sold more than 1.33 million cars at more than 140 locations across the country. Byrider offers high-quality autos, trucks, and SUVs with onsite financing, warranties, and optional service plans.