Driverseat Franchise Startup Cost, Profit & Opportunities
The consumer and commercial transportation services sector holds tremendous potential for willing entrepreneurs. One of the industry leaders offering such an opportunity is Driverseat through its franchise program.
This article focuses mainly on providing readers with all the essential information they need about Driverseat’s franchise program.
Driverseat prides itself as the fastest-growing transportation franchise in North America. Serving communities across the U.S. and Canada, it’s not difficult to see why this company is an investor favorite.
So, are you interested in exploring this opportunity? We welcome you to read through this entire article for such details.
The Driverseat Story
To help franchise candidates seeking information, we must start our journey with how the Driverseat franchise came about.
This company was founded in 2012 as a local consumer and commercial transportation service providing shuttle, charter, and wedding services.
Since its founding, Driverseat has become a significant operation with additional services, including micro-transit, airport shuttles, and care+ services.
Through its franchise operations, the company has widened its services to cover over 400 communities spread across the U.S. and Canada.
Is Driverseat a Franchise?
So far, we’ve mentioned severally that Driverseat does have franchise operations.
This business model has helped the company expand its business to serve more clients across different locations, both locally and internationally.
As an interested investor, this is a clear opportunity to join a reputable and growing transport brand.
Of course, part of exploring the opportunities presented includes meeting set financial requirements, amongst other things. The company offers several advantages, including customizing its services to fit customer needs.
This has endeared the Driverseat brand to both clients and investors.
Driverseat Franchise Costs
Exploring the Driverseat franchise opportunity requires a close look at the financial aspects of ownership.
In other words, you need to find out what it takes (in terms of finances) to join Driverseat’s franchise program. Thankfully, we have all the information you need to get started.
This is primarily considered a low-cost franchise offering, requiring an initial investment of $42k to $69k.
The initial investment covers the initial franchise fee of $20k to $30k. This is the fee paid to Driverseat to join its system. You must also meet the company’s net worth requirement of $150k.
This amount is the minimum net worth you must have to qualify. It’s the value of your assets, excluding liabilities. Such may include retirement accounts, cash, real estate, and stocks. Driverseat franchise also has a cash requirement of $65k to $175k.
There are royalty fees of around $329 to $429 to be paid monthly and an ad royalty fee of $300 to be paid to the franchisor every month.
Are you a veteran and wondering if there are any forms of discounts to enjoy? We’ve got good news!
To reward veterans for their service, the Driverseat franchise provides attractive incentives that include a $5k discount off the franchise fee and a 10% discount off the royalty fee.
i. Financing
Financing is crucial to business, especially for investors seeking assistance or financial aid.
However, Driverseats financing provisions aren’t unambiguous. This franchisor may maintain relationships with third-party sources to finance interested and qualified candidates.
If such financing is available, this mainly covers critical areas of joining the system, such as startup costs, franchise fees, inventory, equipment, payroll, and accounts receivable.
It’s essential to make all the inquiries during the franchise application process.
How to Join Driverseat Franchise
While having a clear idea of Driverseat’s franchise offering is of utmost importance, the application process is even more vital as you’ll have to follow the steps outlined here.
To start, you must visit Driverseat’s franchise page, where you’ll find the basic steps involved.
The steps are easy to follow, including the welcome page and opportunity review.
Other measures include the intro call, testimonials, timeline, day in a life, frequently asked questions (FAQs), financials, follow-up calls, and franchise application.
We’ve listed these steps as the research phase, contact, qualification, disclosure document, signing the franchise agreement, and training. This aimed at making the process clearer.
Let’s briefly look at each of these steps for more clarity.
i. Research
This article is part of the research needed to know more about the Driverseat franchise.
While this information is crucial, we advise you to visit Driverseat’s franchise page, where every detail is available. This includes answers to any pressing questions you have.
ii. Contact
By contacting the franchisor, you want to take concrete steps toward ownership.
Establishing contact may also be necessary to have your questions answered. Driverseat franchise provides an inquiry form that needs to be filled out and submitted with relevant information.
iii. Qualification
Upon submitting the form, the franchisor takes concrete steps toward assessing your suitability for its franchise program. The review process includes a call by the franchise development team.
Here your finances, business experience, and other qualifications are asked.
iv. Issuance of Disclosure Document
The issuance of a franchise disclosure document (FDD) follows.
This document holds comprehensive information about everything relating to Driverseat’s franchise offering. You’re expected to go through the document after which you’ll decide to proceed.
v. Signing the Franchise Agreement
If you’ve found the contents of the FDD to be satisfactory, you’ll be required to take the following action: to sign the franchise agreement.
This concludes the process of joining the Driverseat franchise. Now that you’ve entered the system, training begins to put you through the ropes of ownership and running your franchise.
vi. Training
Training is an essential part of running your Driverseat franchise. This step isn’t skipped at all.
A dedicated team is always on the ground to offer initial and ongoing training, which includes on-site and hands-on training. Here, franchisees get full access to Driverseat’s proprietary software and systems.
With these processes completed, you’re fully ready to launch your Driverseat franchise operations.
To get off on the right footing, we always recommend interested candidates visit the franchisor’s site for more detailed guidance on what’s needed, including evaluations on your eligibility, amongst other things.
The franchise team at Driverseat is always open to such requests and is well-equipped to guide you. So, what are you waiting for? Take action today by checking out this opportunity.
