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Home > Franchises > Payless Car Rental System Inc.
Payless Car Rental System Inc.
A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.
Payless Car Rental was established in 1971 in Spokane, Washington, by Les Netterstrom and his wife, Dusty. By 1982, their small two-location car rental business had grown to almost 100 franchises and one corporate-owned location. In 1983, the 150-location company changed its name to Payless Car Rental System Inc. In 1989, Netterstrom sold the company to a Taiwanese investment group. Eighty percent of the privately held company’s franchise units are conversions; 47 percent of the franchisees own multiple locations. Franchisor is a privately-held company with 55 employees and 5 employees in franchise department. They appreciate your interest in the fastest growing international car rental company.
Celebrating 35 years of transportation services, Payless has grown to over 1,500 locations in 62 countries. Payless Car Rental appreciates you taking the time to discover this tremendous opportunity. The Payless System delivers value by exceeding the expectations of their franchisees and customers with outstanding results. As their company and brand continues to strengthen and grow, they look forward to the chance to discuss more about how their brand can fit your lifestyle.
The total investment for this franchise varies from 287,600 to 6.5 millions, with franchise fee of 15,000 to 500,000 dollars. The ongoing royalty fee is 4 to 5 percent. Term of agreement is of 5 years and is renewable, where the renewable fee is 2,500 dollars. The company was ranked 500 in 2006, 400 in 2003 and 269 in 2002 by the franchise 500 ranks.
As the premise to their core belief that the system can be successful only if their franchisees are successful first, Payless offers a wide array of outstanding benefits, partnerships and personnel to assist in the operating of their business partners.
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