Byrider announced the launch of its new franchising model, Byrider Direct, adding a new, simpler entry point into its successful franchising system, with a lower initial investment that focuses exclusively on sales and service.
“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 and gives them a new access point in line with their experience and comfort level as they invest in a new partnership with us.”
Alongside Byrider’s popular and profitable traditional model, Byrider Direct provides franchisees the opportunity to focus solely on the retail side (sales and service) and still garner strong returns. Byrider Direct requires a lower capital investment and provides finance and portfolio support that will allow a new franchisee to truly harness the learned expertise of Byrider’s decades-long success.
“Byrider Direct is a leaner, meaner version of the traditional Byrider model, and it comes with everything a potential franchisee would expect, minus the financing arm,” said Jack Humbert, vice president of Franchise Development at Byrider. “We’re engaging new investors with expanded investment level ranges to provide multiple options of entry to build a dealership and help consumers get a fresh opportunity to finance and own a quality vehicle.”
The traditional franchise model continues to be an incredibly strong performer, requiring an estimated initial investment of around $1 million, allowing the franchisee full management of all operations, including underwriting and collection. Exclusive territories are currently available for both Byrider Direct and Byrider’s traditional franchise offering.