Tire Pros
Date of Incorporation: June 16, 1988
Franchising Since: 1988
Address: California
Business and Description: Tire Pros is a wholly owned subsidiary of Am-Pac Tire Dist. Inc. ("AMPAC"). Tire Pros is offering to franchise retail outlets featuring tire and related automotive products and services. TIRE PROS Centers are designed and decorated according to distinctive plans and specifications (usually with red, white and black colors) and are operated under a specified marketing system.
Franchise Offer: Tire Pros offers three types of franchise arrangements:
• A Tire Pros "License": Converting existing retail tire store into a Tire Pros Center.
• An "Affiliate Franchise": Purchase of an existing Tire Pros Center which has been previously operated by the affiliated company and a sublease of the premises from the affiliate.
• A "Turn Key Franchise": A new Tire Pros Center which has been leased, remodelled and equipped by franchisor and a sublease of the premises from franchisor or an affiliated company.
Financial Assistance: Tire Pros does not offer direct or indirect financing and does not guarantee as part of its License program. However, the affiliate AMPAC may finance a portion of the purchase price for an Affiliate Franchise. Tire Pros has made arrangements with Comerica Bank for financing of Turnkey Franchises.
Training and Assistance: The training program consists of 10 days of class room training and on the job training in Product, Sales, Marketing, Financial, Administration Retailing, Warranty etc.
Territory: Tire Pros franchisee will not receive an exclusive territory. Tire Pros may establish other franchised, licensed or company owned outlets that may compete with the location.
Renewal and Termination: Initial term of Franchise is 10 years and of License is 5 years. The Franchise Agreement shall be renewed for an additional 10 year term if certain conditions are met. Franchisor and franchisee can terminate the Franchise and License agreements at any time with or without cause after delivering notice at least 30 days before.
Obligations and Restrictions: Franchisee must carry certain products designated by Tire Pros and may also carry other brands and products without prior approval. The franchisee need not personally supervise the TIRE PROS Center. But the center must be directly supervised on a full time basis by a Designated Operator who has successfully completed the training program.
Total Number of Units: 251Outlets at the end of the financial year 2007
Investment Table:
Estimated Initial Investment:
| Name of Fee |
Low |
High |
|---|---|---|
| Initial Franchise Fee and Purchase Price |
$20,000 |
$200,000 |
| Travel and Living Expenses while Training |
$400 |
$1,200 |
| Lease Deposit |
$0 |
$10,000 |
| Computer | $0 |
$5,000 |
| Miscellaneous Opening Costs |
$500 |
$5,000 |
| Opening Inventory |
$5,000 |
$35,000 |
| Rent for first 3 Months |
$15,000 |
$24,000 |
| Monthly Franchise and Marketing Fees-3 Months |
$2,985 |
$7,485 |
| Additional Funds -3 Months |
$60,000 |
$90,000 |
| Total |
$103,885 |
$372,685 |
Ongoing Costs:
| Name of Fee |
Amount |
|---|---|
| Monthly License or Franchise Fee |
$495.00 |
| Monthly Marketing Fee |
Mutually agreed amount, range $500 to $2,000 |
| Lease Payments |
As required by Master Lease or negotiated with Us if no Lease |
| Required Materials |
Reasonable Cost |
| Training |
$250.00 per Trainee |
| Late Fees |
$25.00 plus interest if late at 18% or highest legal rate |
| Attorney Fees |
Reasonable amount to prevailing party in any legal proceeding |
| Transfer Fee |
Up to $1,000 |
| Audit |
Reasonable Accounting and Legal Fees |
| Reimbursement |
Our costs on termination |
The above information has been taken from the UFOC/FDD of Tire Pros Francorp.
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