May 09, 2008 // Franchising.com // - Volvo Rents is targeting the Dallas area for franchise expansion.
The company, which is a division of Asheville, N.C.-based Volvo Construction Equipment North America Inc. that offers franchise opportunities in the construction equipment rental business segment, said that construction spending in the Dallas market is projected to reach $10.4 billion in 2008.
While many parts of the country are suffering declines, InfoTech Marketing, a Colorado-based firm that specializes in analyzing the construction industry, said current projections show that the area will hold steady, with a compound annual growth rate of 6.17% through 2012.
Volvo Rents stores carry, in addition to Volvo construction equipment, a full line of equipment and tools for the construction, commercial, industrial and homeowner markets.
All Volvo Rents centers are independently owned and operated. The amount of financing for qualified applicants can be significant, averaging between $4 million and $5 million per store. Applicants generally need a liquid net worth of at least $750,000 per store to qualify for the financing.