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DEALER QUALIFICATION SUMMARY
Character:
The successful candidate will have
a good business reputation in the community. The
business must have a reputation for operating in an
honest, ethical and moral fashion. Each U-Save Car Sales
candidate (as well as his/her partners and co-owners)
will undergo extensive credit analysis and background
verification.
Experience:
A franchise candidate should have a
minimum of five years experience in the retail
automobile business with emphasis on vehicle acquisition
and sales, F&I structure and general dealership
management. If the candidate has less than 5 years’
experience in the areas of emphasis, qualification may
be based on the experience of additional parties
(business partners, co-owners, etc.) willing to provide
a full application for review and actively participate
in the operation of the U-Save Car Sales dealership.
Financial:
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An adjusted net worth of at
least $300,000 excluding jewelry, furniture, art,
etc.
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The net worth requirement is
increased proportionately based on anticipated
inventory level (floor planning needs) and expected
resultant sales volume.
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Working capital reserves of no
less than $100,000.
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The
working capital reserve is subject to increase based
on estimated inventory requirements.
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Excellent credit ratings, both
personal and business.
Facility:
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Minimum of 1,000 square feet of office space
dedicated to car sales functions such as reception
area, customer service, F&I, etc.
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35 vehicle minimum inventory capacity, excluding
space used for customer and employee parking.
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90% of vehicles must be current plus 6 model years
with 100,000 miles or less.
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All vehicles must be parked on surfaces paved with
concrete and/or asphalt.
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Inventory display areas must be well-lighted and
secure.
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Overall appearance of the site should be clean, neat
and generally inviting to the public.
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Acceptable locations will be situated in high
traffic areas, preferably near other car
dealerships.
Franchise Fee:
We charge a non-refundable initial
franchise fee (Initial Franchise Fee”) of $25,000, which
is payable in full when the Franchise Agreement is
signed.
The Initial Franchise Fee may vary
due to a number of factors. We may adjust the initial
fee to franchise candidates who possess qualifications
or skills or have an existing business or who are
located in a geographic area that we believe, in our
sole business judgment, justifies the discount or
incentive.
Requirements for Application
Process:
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Completed/Signed U-Save
Application
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Current Personal
/Business Financials
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Personal Tax Returns
(most recent 2 years)
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Credit Report (CA
obtains)
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Proof of Dealers License
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