What are the minimum financial requirements?
Car rental is a capital-intensive business. Hertz requires a net worth of $500,000 or higher and liquid capital of $150,000 or higher. The actual amounts vary for a variety of reasons, including the specific location, size of the market, the size of your rental fleet and the number of locations. Note that this requirement does not represent the total investment to open and operate the franchise business. Candidates should have good credit and demonstrate an ability to obtain fleet financing.
How long is the approval process?
On average, it takes 50 to 70 days to go through the approval process and complete the legal documentation. This process can move quicker if application and all supporting documents are returned in a complete and timely manner.
What kind of background do I need to be a successful Hertz franchisee?
Hertz is looking for energetic individuals who enjoy working within the travel and/or automotive field. Ideal candidates should have an entrepreneurial spirit, solid business and sales skills, and be an active part of the communities in which they live and work. A background in car rental, although a plus, is not a requirement.
What is the franchise term? Is it renewable?
The license agreement is a 5 year renewable term on the then-current Hertz System Car Rental License Agreement, with renewal subject to Licensee meeting stated performance requirements in the License Agreement at time of each renewal.
Does Hertz assist with fleet financing?
Hertz does not assist with fleet financing.
Can I own multiple franchises?
Yes, we allow multi-unit franchise ownership.
What is the initial fee?
You will be required to pay us an initial license fee which will vary as based on a number of factors, including: (1) potential car fleet size; (2) potential area population growth; (3) potential area economic growth; (4) existing and potential for future growth of hotel accommodations; (5) existing Hertz national account customers located in the area; (6) existing and potential for future growth of local airport passenger traffic; and (7) extent of the recreational or regional markets.
What does the monthly license fee provide?
The license fee sustains the substantial benefits and customer base of the Hertz® brand and allows the licensee to operate under the Hertz trademark. This includes innovation, support, and promotion of the Hertz® brand as well as the support provided to franchisees.
How do I obtain vehicles for my fleet?
Our franchisees obtain vehicles from a variety of sources including local dealerships, auto auctions, auto wholesalers, fleet leasing companies, Hertz Fleet Remarketing department, and by taking advantage of select Hertz® programs with Original Equipment Manufacturers (OEMs).
What kind of training can I expect?
Your comprehensive training program includes franchisee onboarding training sessions at Hertz zone offices, online training, and webinar training. Additionally, you will have access to training and support resources on an ongoing basis.
Does Hertz offer truck rental franchises?
Hertz does not offer truck rental franchises.