Byrider, based in Carmel, Indiana, has recently unveiled its new franchising model, Byrider Direct.
Byrider CEO Craig Peters touts that Byrider Direct will enhance the capability of franchisees to focus on their retailing business.
“Our team is excited to offer a new pathway to join in Byrider’s success,” Byrider CEO Craig Peters told Intrado GlobeNewswire. “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 and gives them a new access point in line with their experience and comfort level as they invest in a new partnership with us.”
Byrider Direct offers a new and less-complicated entry point into the Byrider franchising, bolstering franchisees’ concentration on sales and service and augmenting revenues. The new franchising model provides finance and portfolio support with a lower capital investment.
The company’s traditional franchise model would require an initial investment of approximately $1 million, compared to Byrider Direct, which offers a lower initial investment. The new program also eliminates franchisees' focus on the financing arm of operating a franchise, which includes underwriting and collection, according to WishTV.com8.
Byrider was born out of founder James DeVoe's desire to help people acquire reliable transportation, even if they're likely to be declined for traditional bank financing. After a decade of financing customers in his own car lot, DeVoe founded Byrider in 1989, according to Byrider.com.
Alerts Sign-up