Priceless Car & Truck Rental provides vehicle rentals, leases, carsharing, rent-to-own options, and used vehicle sales. The franchise offers flexible transportation solutions to customers.
Key Insights
- Priceless has a rich heritage built on providing a unique value proposition within the retail sector, evolving from its foundational principles to meet contemporary consumer demands and establishing a recognizable brand presence. The business operates through a network of carefully selected franchise partners.
- The franchise model focuses on delivering accessible products and services. Each location functions as a retail outlet offering a diverse range of goods, emphasizing efficient inventory management and customer service to create a consistent brand experience across all points of sale.
- Operating within the broad consumer goods industry, Priceless taps into the consistent need for everyday essentials and discretionary purchases. The business navigates a dynamic marketplace by adapting its product assortment to current trends and consumer preferences.
Franchise Fee and Costs to Open
Exploring the financial picture of Priceless gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $214,255 - $1,826,483, along with a franchise fee of $25,000 - $125,000.
Financial Performance and Revenue
Yearly gross sales of $16,622 and estimated earnings of $2,494 - $2,992 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 372.5-374.5 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Priceless provides new franchisees with a comprehensive training program. Initial training, lasting two weeks, takes place at the Priceless corporate headquarters. The franchisor offers extensive resources covering operational procedures and brand standards. Priceless recommends leveraging these materials for a successful launch.
Legal Considerations
Legal considerations for a Priceless franchisee are outlined in the Franchise Disclosure Document (FDD) and the Franchise Agreement. Note that this franchise discloses lawsuits and/or bankruptcy information in its FDD, which may impact your evaluation. Subscribe now to access more details and be sure to consult a qualified attorney before proceeding.
Challenges and Risks
A franchisee may encounter challenges related to diverse local market tastes for automotive and marine products, requiring adaptable inventory. Managing the operational complexities of servicing and storing vehicles and boats adds another layer of consideration. Dependence on specific, timely supply chains for parts and new inventory also presents a factor to navigate effectively for consistent customer satisfaction and business flow.
Franchise Datasheet
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