Start a Priceless Rent-A-Car Franchise in 2024

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 (27 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 Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$20,000 - $100,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$339,992 - $790,226
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$250,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$50,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	$2,000 off franchise fee
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	$34/car/mo.
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	$8/car/mo.
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	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? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
# of employees required to run	2-4
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes