Information on setting up a Car Leasing franchise

[nuvolablue]

Hello there, I'm new here so please go easy on me.
I'm researching setting up a car leasing brokerage company and have looked at the cost of setting up a franchise from one of the bigger leasing companies.
Apart from the quotes system, I'm not entirely sure how the model works. I have the following questions:

1. Who would pay me the commission, is it the finance company or the supplying dealer or both ?
2. Would I have access to the franchisor's network of financing companies, and supplying dealerships ?
3. If buying in to a particular franchise, would I be restricted to the franchisor's prices, or could I undercut their prices (i.e. set my own prices), thereby attracting more customers and help grow my business.
4. Apart from earning commission can I charge customer's an admin fee ?

I would be grateful if anyone out there has experience of this type of business and could help me out.

Thanks.

 

[SuffolkDesigns]

1) Depends on the terms of your franchise
2) Depends on the terms of your franchise
3) Depends on the terms of your franchise
4) Depends on the terms of your franchise

 

[nuvolablue]

1) Depends on the terms of your franchise
2) Depends on the terms of your franchise
3) Depends on the terms of your franchise
4) Depends on the terms of your franchise

Ok great SSR - thanks. So are you saying (in theory at least) there could be a franchise out there which answers either yes or no to each/all of my above questions ?

Based on your knowledge of the different car leasing franchises out there, and keeping my original questions in mind, which one would you recommend I look at further and why ??

 

[KeithP]

I think what SSR is saying is that you're asking questions that nobody on this forum can answer. Do you not think the best person to answer your very specific questions would be the person offering the franchise?

 

[TMG Automotive]

Take a look at the TMG Automotive Vehicle Leasing Franchise opportunities.

 

[Andy Alderson]

Hello there, I'm new here so please go easy on me.
I'm researching setting up a car leasing brokerage company and have looked at the cost of setting up a franchise from one of the bigger leasing companies.
Apart from the quotes system, I'm not entirely sure how the model works. I have the following questions:

1. Who would pay me the commission, is it the finance company or the supplying dealer or both ?
2. Would I have access to the franchisor's network of financing companies, and supplying dealerships ?
3. If buying in to a particular franchise, would I be restricted to the franchisor's prices, or could I undercut their prices (i.e. set my own prices), thereby attracting more customers and help grow my business.
4. Apart from earning commission can I charge customer's an admin fee ?

I would be grateful if anyone out there has experience of this type of business and could help me out.

Thanks.

Like, the others have said you need to ask the franchisor, with any Franchise opportunity you need to do your due diligence and part of that should include making sure you understand exactly how you earn your money. For what its worth we run a Franchise programme which you can find details on if you Google Vanarama franchise. Theres some answers to your questions on there. If you have a specific opportunity that you need help with then feel free to send me a PM and I'd be happy yo look at it for you. I made the mistake of not vetting my franchisor properly when I first started 1n 2006. Google wasn't quite the tool it is now so it wasn't as easy to find out how supportive and workable the franchise and model was. They took the money and ran from a lot of naive people and the owner eventually the owner ended up in prison
Thankfully I got out of it what i needed and we had enough about us to succeed.
Now from a standing start we have a network of 20 Franchisees soon to 25 in little over a year we've only been able to that by fully supportive of the franchisees and making sure the model is transparent and robust .Any franchise that you buy into needs to be open to scrutiny particularly in this sector as its so competitive and has so many facets.
Good luck

 

[Deleted member 138423]

Be very very aware that operating a franchise in a lot of cases is throwing money you could make for yourself towards others, and also in a lot of cases, for not very much support or assistance at all!

The best thing you can do, as has been said, is research research research and that means by making comparisons throughout the leasing franchise world. Don't expect us to give you specific advice simply bacause we don't know!

Good luck and be very careful!!

 

[Lease4Less]

1. Who would pay me the commission, is it the finance company or the supplying dealer or both ?
2. Would I have access to the franchisor's network of financing companies, and supplying dealerships ?
3. If buying in to a particular franchise, would I be restricted to the franchisor's prices, or could I undercut their prices (i.e. set my own prices), thereby attracting more customers and help grow my business.
4. Apart from earning commission can I charge customer's an admin fee ?

Are you currently working in the car leasing industry?

If so you should already know the answers to these questions.

If not, then you really need to do your homework as the "franchise" models out there available to purchase are not cheap and you could well end up wasting thousands of pounds.

My advice, get yourself a few years experience working for an established company so that you can evaluate your options.

 

[TMG Automotive]

We provide a low cost vehicle leasing broker franchise opportunity for £99+VAT per month, take a look at our Vehicle Leasing Franchise page on the TMG Automotive website.

 

[Asif Shamsudeen]

Hey there,

I myself am currently looking to start a car leasing broker business. I came across move vehicle leasing franchise and when I clicked on your website link it also took me there. I have sent over an email, but if there is any way you can pm me or something I just want more information.

Thanks
Asif