- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$340K - $790K
- Units as of 2020
-
42 100.0% over 3 years
Sadly, whether they are foreign or local, all cars can fail every once in a while. Priceless Rent-A-Car is a service that strives to ensure that you can get an affordable replacement when your car goes in for service or repairs.
Founded in 1997, Priceless Rent-A-Car responded to customer needs by providing affordable and quality rentals across the United States. For customers, Priceless Rent-A-Car may be a go-to place for quality and safety-oriented car replacements at friendly prices.
Customers may love Priceless Rent-A-Car because the brand offers well-maintained cars for as long as customers need. From luxury sedans to minivans, Priceless Rent-A-Car believes it has an automobile for everyone.
Priceless Rent-A-Car began franchising soon after it was founded and has since expanded to more than 25 franchises in the United States.
Why You May Want To Start a Priceless Rent-A-Car Franchise
If you believe in the philosophy of quality first, profit second, then opening a Priceless Rent-A-Car franchise might be an excellent opportunity for you. As a brand that leases cars to customers on-demand, the brand prioritizes customer satisfaction with each transaction.
Potential franchisees are individuals with great customer service skills and attention to detail. With the car rental industry in good shape, providers with realistic prices and services may be highly sought after by clients. With a national presence and strong brand recognition, opening aPriceless Rent-A-Car franchise could offer a more promising outcome than that of a completely new brand.
What Might Make a Priceless Rent-A-Car Franchise a Good Choice?
Priceless Rent-A-Car believes it offers more than a product, but a way of life that can improve the quality of life for customers. As a place that attempts to deliver the gifts of mobility, safety, and convenience to customers, Priceless Rent-A-Car believes it is a brand with great influence and impact.
Franchisees are responsible for running Priceless Rent-A-Car units to meet customer needs. Franchisees will play a significant role in creating efficient business operations, from servicing and maintaining automobiles to quality customer service and 24/7 support.
To be part of the Priceless Rent-A-Car team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising fees and royalty fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
How To Open a Priceless Rent-A-Car Franchise
Make sure to research the brand and your local area to see if a Priceless Rent-A-Car would do well in your community. Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Priceless Rent-A-Car franchising team questions.
If awarded a franchise, franchisees may support from the Priceless Rent-A-Car brand throughout the franchising process. In addition to pre-opening training, franchisees could receive support through brand awareness, marketing, research, and construction. They also may receive hands-on training and continued support after their units have opened.
Company Overview
About Priceless Rent-A-Car
| Industry | Automotive |
|---|---|
| Related Categories | Miscellaneous Automotive Products & Services, Auto Rentals & Sales |
| Founded | 1997 |
| Parent Company | NP Franchise Group |
| Leadership | Michael DeLorenzo, President |
| Corporate Address |
13900 Laurel Lakes Ave. Laurel, MD 20707 |
| Social | Facebook, Twitter |
Business Overview
| Franchising Since | 1997 (28 years) |
|---|---|
| # of employees at HQ | 20 |
| Where seeking |
This company is offering new franchises in the following US states: This company is offering new franchises in the following international regions: |
| # of Units | 42 (as of 2020) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Priceless Rent-A-Car franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$20,000 - $100,000 |
|---|---|
|
Initial Investment
|
$339,992 - $790,226 |
|
Net Worth Requirement
|
$250,000 |
|
Cash Requirement
|
$50,000 |
|
Veteran Incentives
|
$2,000 off franchise fee |
|
Royalty Fee
|
$34/car/mo. |
|
Ad Royalty Fee
|
$8/car/mo. |
|
Term of Agreement
|
Indefinite |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| In-House Financing | Priceless Rent-A-Car offers in-house financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable |
|---|---|
| Third Party Financing | Priceless Rent-A-Car has relationships with third-party sources which offer financing to cover the following: equipment, inventory |
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 8 hours |
|---|---|
| Classroom Training | 32 hours |
| Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Ad Templates
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | Yes |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
No |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | 2-4 |
|
Are exclusive territories available?
|
Yes |
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