Thrifty Franchise Opportunities
Here are our most frequently asked questions.
What are the minimum financial requirements?
Car rental is a capital-intensive business. Thrifty requires a new worth of $500,000 or higher and liquid capital of $150,000 or higher. The actual amounts vary for a variety of reason, including the specific location, size of the market, the size of your rental fleet and the number of locations. Note that this requirement does not represent the total investment to open and operate the franchise business. Candidates should have good credit and demonstrate an ability to obtain fleet financing.
How long is the approval Process?
On average it takes 60-120 days to go through the approval process and complete the legal documentation. This process can move quicker if application and all supporting documents are returned in a complete and timely manner.
What kind of background do I need to be a successful Thrifty franchisee?
Thrifty is looking for energetic individuals who enjoy working within the travel and/or automotive field. Ideal candidates should have an entrepreneurial spirit, solid business and sales skills, and be an active part of the communities in which they live and work. A background in car rental, although a plus, is not a requirement.
What is the franchise term? Is it renewable?
The licensee agreement is a 5-year renewable term on the then-current Thrifty System Car Rental License Agreement, with renewal subject to Licensee meeting stated performance requirements in the Licensee Agreement at time of each renewal.
Does Thrifty assist with fleet financing?
Thrifty does not assist with fleet financing.
Can I own multiple franchises?
Yes, we allow multi-unit franchise ownership.
What is the initial fee?
You will be required to pay us an initial license fee which will vary as based on a number of factors, including;
- Potential fleet size
- Potential area population growth
- Existing and potential for future growth of hotel accommodations
- Existing Thrifty national account customer located in the area
- Existing and potential for future growth of local airport passenger traffic
- Extent of the recreational or regional markets
What does the monthly license fee provide?
The license fee sustains the substantial benefits and customer base of the Thrifty brand and allows the licensee to operate under the Thrifty trademark. This includes innovation, support, and promotion of the Thrifty brand as well as the support provided to franchisees.
How do I obtain vehicles for my fleet?
Our franchisees obtain vehicles from a variety of sources including local dealerships, auto auctions, auto wholesalers, fleet leasing companies, Hertz Fleet Remarketing department, and by taking advantage of select Hertz programs with Original Equipment Manufacturers (OEMs).
What kind of training can I expect?
Your comprehensive training program includes franchisee onboarding training sessions at Thrifty zone offices, online training, and webinar training. Additionally, you will have access to training and support resources on an ongoing basis.
Does Thrifty offer truck rental franchises?
Thrifty does not offer truck rental franchises.