J.D. Byrider Announces Mid-Year 2013 Results
Company notes present growth and future expansion into new areas of country.
July 30, 2013 // Franchising.com // CARMEL, Ind. – J.D. Byrider, the country’s leading used car sales and finance enterprise, reports strong growth trends halfway through 2013. The company has matched the amount of new stores opened during the same time period last year, and is expecting to match 2012’s record-breaking year of double-digit growth of new dealerships through the end of 2013.
From January through June 2013, the company opened five new franchise locations in five states and relocated one dealership. The next J.D. Byrider dealership, opening in Colonie, N.Y., will be the company’s 150th location. In addition, 12 current or new franchisees from automotive, banking and business and entrepreneurial backgrounds have signed commitments and are projected to open new J.D. Byrider dealerships through the end of 2013.
“Much of our dealership expansion is the result of existing franchisees’ comfort and confidence in the business and readiness to open a second or third store,” said Tom Welter, vice president of franchising. “We’re also looking ahead to exciting growth from new first-time franchisees in different areas of the country including Idaho, New York and Utah.”
J.D. Byrider mid-year activities and accomplishments:
- Reached a new milestone – J.D. Byrider’s one millionth vehicle was sold in South Attleboro, Mass. The car was given away to the lucky customer.
- Attained a three-month cumulative 95 percent sales satisfaction and 91 percent service satisfaction rating across the dealership network.
- Opened five new franchise locations:
- Feb. 4: Omaha, Neb. – Russ Larson, owner
- Apr. 11 : Bradenton, Fla. – Paul Maier, owner
- May 6: Rockford, Ill. – Pat and Rachel Bachrodt, owners
- June 5: Barboursville, W. Va. – Bill Rowland and Mark Morris, owners
- June 27: Jackson, Miss. - Barry Biggers
- Company stores completed second securitization, this time for $121 million with a AA bond rating.
- Signed new store rights to four new franchisees and 10 existing franchisees.
- A refreshed branding and marketing concept was unveiled, including a new interactive website allowing customers to find and choose their preferred car make and model at a local dealership.
About J.D. Byrider
Founded in 1989, J.D. Byrider is the nation’s leading used car sales and finance enterprise. The company was founded to serve customers with special auto financing needs and to ensure that they receive the same quality service in every J.D. Byrider dealership. With more than one million consumers matched to quality, affordable vehicles and a franchise system servicing more than $1 billion in retail contracts, the company continues its focus on reliability and customer satisfaction. Headquartered near Indianapolis in Carmel, Indiana, J.D. Byrider consists of 126 franchised- and 23 company-owned dealerships in 29 states. Visit www.jdbyrider.com or franchise.jdbyrider.com to learn more.
SOURCE: J.D. Byrider