|
THRIFTY operates in over 57 countries and territories, with over 1,000 locations throughout North and South America, Europe, the Middle East, Caribbean, Asia and the Pacific, and is one of the fastest-growing car rental company in Canada and Australia. THRIFTY has a significant presence both in the airport and local car rental markets. Approximately 66% of its business is in the airport market, 34% in the local market.
Franchisor Background
Year Established: 1958
Franchising Since: 1962
Operating Units: |
| Franchised Units: | 849 | | 84.9% | | |
| Company-Owned Units: | 151 | | 15.1% | | |
| | ______ | | _____ | | |
| Total Operating Units: | 1,000 | | 100% | | |
| |
Geographic Distribution: |
| U.S.: | 374 | | 37.4% | | In 46 States |
| Canada: | 135 | | 13.5% | | In 10 Canadian Provinces |
| International: | 491 | | 49.1% | | In 0 Foreign Countries |
| | ______ | | _____ | | |
| Total: | 1,000 | | 100% | | |
| |
North America: |
| States/Provinces with the largest number of operating units: |
| Density | Units | | | | |
| 1. Ontario | 59 | | 2. Florida | 37 | | 3. California | 34 |
Registered in Following Registration States: California, Florida, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, Wisconsin, District Of Columbia
Financial Requirements
Investment: |
| Minimum Net Worth: | $500K |
| Cash Investment: | $150K |
| Total Investment: | $200-250K |
| Average Total Investment: | $225K |
| |
Fees: |
| Initial Franchise Fee: | $Varies |
| Average Franchise Fee: | $-1K |
| On-Going Royalty: | 3% |
| Average Royalty: | 3% |
| Advertising Fee: | 2.5-5% |
Average Number of Employees: 4-6 Full-time, 0 Part-time
Space Needs (in square footage): N/A
Preferred Sites: Free-standing Building, Storefront, Strip Center, Regional Mall
Other Sites:
Encourage Conversions? Yes
Earnings Claims Provided? No
Listed in the SBA Registry? No
Support and Training
| International Franchise Association: | No |
| Canadian Franchise Association: | No |
| Franchisee Association/Member: | No |
| Size of Corporate Staff: | 1000 |
| Site Selection Assistance? | No |
| Lease Negotiation Assistance? | Yes |
| Financial Assistance? | No |
| |
Marketing Support: |
| Co-Op Advertising: | No |
| National Advertising: | No |
| Regional Advertising: | No |
| Local Advertising: | No |
| Marketing Materials: | None Specified |
| Additional Services: | None Specified |
| Other Marketing Support: | None Specified |
| |
On-Going Support: |
| Central Data Processing: | Included in Fees |
| Central Purchasing: | Included in Fees |
| Field Operation Evaluation: | Included in Fees |
| Field Training: | Included in Fees |
| Initial Store Opening: | Included in Fees |
| Inventory Control: | Included in Fees |
| Franchisee Newsletter: | Included in Fees |
| Regional or National Meetings: | Included in Fees |
| 800 Telephone Hotline: | Included in Fees |
| |
Training: |
| 1. Mentor Program at Headquarters in Tulsa, OK | 5 Days |
|
|
Franchisee Qualifications
| Ranked from 1 (unimportant) to 5 (important): |
| |
| Financial Net Worth: | 5 |
| General Business Experience: | 5 |
| Specific Industry Experience: | 5 |
| Formal Education: | 3 |
| Psychological Profile: | 3 |
| Personal Interview(s): | 5 |
| |
| |
Minority Representation
Units Owned by Minorities: |
| African-American: | 2 |
| Asian-American: | 1 |
| Hispanic: | 9 |
| Native American: | 0 |
| Other: | 68 Women, 5 East Indian |
| Specific Minority: | Minority Franchise Development Program: Reduced net worth level from standard minimums maintained in the first year of operation; guaranteed access to an additional source of working capital with reduced repayment requirements; reduction in franchise fee; operating credit for automation or imaging included in the reduced franchise fee structure. |
| |
| |
Terms of Contract
| Term of Initial Contract: | 10 Year(s) |
| Term of Renewal Period: | 5 Year(s) |
| Passive Ownership: | Not Allowed |
| Area Development Agreements? | No |
| Sub-Franchising Contracts? | No |
| Franchisees Allowed to Expand Within Territory? | Yes |
Expansion Plans
Projected New Units Over Next 12 months: 50-75
| U.S.: | Yes, Selected Markets Remaining |
| Canada: | Yes, All Canada |
| Overseas: | Yes, All Countries |
|
Franchise News