Budget Franchise

Budget Rent-A-Car Franchise Cost & Opportunities 2024

If you’re considering dipping your toes into the world of car rental franchises, Budget Rent-A-Car stands out as one of the most viable options. As one of the largest car and truck rental companies globally, Budget Rent-A-Car offers a wealth of opportunities for prospective franchisees. Read on to explore the investment details, franchise model, and the unique benefits that come with owning a Budget Rent-A-Car franchise.

Facts & Figures

• Liquid Capital Required: $170,000
• Total Investment: $166,700 - $451,000
• Franchise Fee: $20,000
• Royalty Fee: 7.5%
• Founded: 1958
• Franchising Since: 1960

Overview

Founded in 1958 by Morris Mirkin, Budget Rent-A-Car started with just ten cars, focusing on providing a low-cost alternative to other car rental services by undercutting rates. The brand has grown significantly, currently operating in over 110 countries, with more than 3,000 locations worldwide. While most of the Budget Rent-A-Car shops are company-owned, the franchising segment of the business is expanding, presenting new opportunities for entrepreneurs.

Franchise Opportunities

Budget Rent-A-Car offers a solid franchise opportunity with a recognizable brand that has been steady in the industry for over 50 years. The franchise has undergone several ownership changes, most recently becoming part of the Avis Budget Group. This affiliation provides a strong support system and a wealth of resources for new and existing franchisees.

History and Expansion

From its inception in 1958, Budget Rent-A-Car swiftly established itself as a competitive player in the car rental industry. By 1960, Mirkin launched Budget Rent-A-Car Corporation, marked by rapid expansion through franchise-owned locations. Despite facing challenges during the 1980s, the company rebounded, embedding itself as a top-tier car rental service provider. The brand's adaptability and strategic buyouts, including ownership changes in 1986, 1997, and finally in 2002 by Cendant Corporation, have solidified its strong market position. In 2006, the Cendant Corporation rebranded itself as the Avis Budget Group.

Investment and Financial Considerations

The initial investment to open a Budget Rent-A-Car franchise ranges from $166,700 to $451,000. The franchise fee to get started is $20,000, with a required liquid capital of $170,000. The ongoing royalty fee is set at 7.5%, which is in line with industry standards. These figures provide a transparent expectation of the initial and ongoing financial commitment needed to operate a Budget Rent-A-Car franchise.

Why Choose Budget Rent-A-Car?

• Established Brand: With over 50 years of industry presence, Budget Rent-A-Car offers a trusted name that attracts a broad customer base globally.
• Comprehensive Support: As a part of the Avis Budget Group, franchisees benefit from extensive support and a wealth of resources, ensuring a robust start and ongoing success.
• Proven Business Model: The franchise model is designed for scalability and profitability, supported by a system that has been refined over decades of operation.

Key Takeaways

• Budget Rent-A-Car is a well-established franchise opportunity in the car rental industry.
• Operating under the umbrella of the Avis Budget Group provides strong brand recognition and support.
• Initial investment ranges from $166,700 to $451,000, with a franchise fee of $20,000.
• Royalty fee is set at 7.5%, with a required liquid capital of $170,000.

If you're ready to explore this exciting opportunity and join one of the most recognized names in the car rental industry, download the franchise disclosure document or fill out the free information request form on this page to get started.