Americans annually spend $250 billion on tires and auto services, and the value of replacement tire sales alone is approximately $38 billion. RNR Tire Express is ranked the #1 category leader for Tires & Wheels in Entrepreneur® magazine’s 2016/2017/2018/2021/2022 Franchise 500®.
We opened the doors to our first location in Tampa, FL, in October 2000. With over 190 locations nationwide, RNR has become the go-to place for quality tires and custom wheels with unique payment options including our Pay-As-You-Go! program to a growing, under served and recession-resistant market.
BACKGROUND
Established: 2000
First Unit Franchised: 2003
Franchised Units: 190+
Company Owned Units: 24
States Registered In: All except for Minnesota & Wisconsin
Canada Franchises: Yes
International Franchises: No
Cash Investment: $300K-$500K
Total Investment: $1MIL-$1.7MIL
Minimum Net Worth: $2,000,000
Franchise Fee: $45,000
Royalty: 5%
Ad: 0%
Local Marketing: 5% (not paid to franchisor)
Average Number of Employees: 6+
Item 19: Yes
SBA Approved: Yes
Passive Ownership: Semi-Absentee Mainly
Home Based: No
B2B: No
Master Franchise Opportunities: No
Veteran Discount Yes
Special Intructions: High Return On Investment. High Net Worth with liquidity for working capital as ALL of the financing for the customers for product is done by franchisee. Minimum net worth of $2 Million.
Other Info: Great fit in all size markets. Smaller markets should have 50k population in trade area.
Financial Assistance Provided: No, Recommendations if requested
Site Selection Assistance: Yes
Lease Negotiation Assistance: Yes
Side Design and Furnishing Assistance: Yes
FF&E and Inventory Assistance: Yes
Recruiting Assistance: Yes
Co-Operative Advertising Optional: Yes
Training: Extensive four weeks training program: two weeks in Tampa & two weeks on location. Full team recommended. Ongoing training available through the RNR University (online) or in-person upon request.
Marketing Support (In-House): Creative, Local Marketing Planning and Budgeting, Website Design and Maintenance, Social Media, Brand Guidelines, Grand Opening Planning
Operations: Dedicated operations support team, weekly calls, sales coaching, P&L reviews, benchmarking, KPI review, ongoing training
This business attracts high net worth franchisees who are looking to build wealth through multi-unit ownership. Over 80% of our franchise owners have multiple locations and delegate day-to-day management responsibilities. Some franchise owners are more involved and hands-on, and this may be their full-time job. Although most franchisees are not day-to-day operators, we recommend that a NEW franchisee is engaged in the business for 6 months to a year so they can learn the business and be able to better manage and coach their teams to success.
The ideal candidate will need to have a net worth of at least $2MIL. It is important to note the need for liquidity of approximately $500 for multi-unit approval.
Main Focus Areas Include:
- Building Your Team: Hiring, Coaching & Supporting
- Community Involvement and Initiatives
- High Level Decision Making and Strategy
Franchisee Characteristics:
- Strong Entrepreneurial Drive and Spirit
- Ability to Follow a Proven System
- Relationship Driven, Sincere and Authentic
- Sales Oriented Mindset
- Ability to Emulate the Company’s Culture
- Customer Service Orientation
- Strong Committment to Comunity Initiatives
- Enjoys Managing a Team
Experience Requirements:
- Experience with the rent-to-own industry is not required but will be a plus
- No automotive experience necessary
Name: Trish Deschenes
Email: [email protected]
Phone: 303-503-6242
Corporate Website: http://www.rnrfranchise.comSingle Unit Referral Fee: $30,000 ; $10,000 for each additional unit *up to 10 units.
Area/Master Development Referral Fee: N/A
Resale Unit Referral Fee: $30,000 for the first unit, $10,000 each additional up to 10