Here are our most frequently asked questions.
What is a franchise?
A Franchise Agreement grants you the right to legally operate using a company's brand name and established business model.
I've heard that some companies will bring cars to my location and allow me to rent them out and earn a commission. Does Dollar offer this type of business model?
This is called a Rental Agency. At this time, we do not offer an agency plan.
How do I qualify to become a Dollar Owner?
What is the process?
- Minimum net worth requirement of $500,000
- Have liquid assets of at least $150,000
- Must have access to financing or the capital available to purchase your own rental fleet
- Approval by the Licensee Selection Commitee
Typically it takes between 60 and 120 days to go through the approval process and complete legal documentation to begin operations. Below you will find a detailed outline of the process:
What is the inital investment?
- Fill out the Franchise Inquiry Form.
- Have conversation with Franchise Sales Representative.
- Fill out application and submit to the Franchise Sales team. Once received, your completed application will be sent to our credit department for review.
- You will then be invited to visit our headquarters in Tulsa, Oklahoma to participate in a Discovery Day. On this day you will meet with members of various departments and have an opportunity to ask questions.
- A term letter will be issued which will outline the details of your Franchise Agreement.
- You will be issued a Franchise Disclosure Document which provides further detailed information regarding our Franchise opportunity.
- A License Agreement, which must be signed, will be mailed to you. Upon receipt you will be responsible for paying your inital franchise fee.
- Prior to opening, you will be required to attend an orientation at our Tulsa headquarters.
The inital investment depends on the size of market, fleet requirements and cost of doing business in your area.
Are there restrictions on the type of vehicles I'm allowed to have in my rental fleet?
There are no specific vehicle make or model requirements, except that all vehicles must be no more than 3 model years old and have less than 50,000 miles.
Am I required to have insurance on the vehicles?
Yes. You are required to have state minimum liability coverage on all vehicles in your rental fleet.
Am I required to pay monthly fees?
Yes. Royalty and Reservation fees are due on a monthly basis.