What was the average cost of goods sold for Byrider stores in the first quartile?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
4+ Months as of 12/31/2023**
STORE RESULTS BROKEN DOWN INTO QUARTILES
| First Quartile = 23 Stores | First Quartile Average | % Met or Exceed Avg | First Quartile Median | Second Quartile = 23 Stores | Second Quartile Average | % Met or Exceed Avg | Second Quartile Median | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Annual Vehicle Sales6 | 384 | 377 | Annual Vehicle Sales6 | 317 | 298 | ||||||
| Sales Revenue2,11 | 6,692,813 | 72.46% | 47.83% | 6,648,663 | 74.89% | Sales Revenue2,11 | 5,314,054 | 74.12% | 52.17% | 5,365,961 | 77.16% |
| Finance Revenue3,11 | 2,543,236 | 27.54% | 43.48% | 2,376,279 | 26.29% | Finance Revenue3,11 | 1,855,939 | 25.88% | 52.17% | 1,896,893 | 27.28% |
| Total Revenue4,11 | 9,236,049 | 100.00% | 39.13% | 9,030,162 | 101.19% | Total Revenue4,11 | 7,169,993 100.00% | 47.83% | 6,954,666 100.00% | ||
| Cost of Goods Sold5 | 5,989,012 | 64.84% | 43.48% | 5,955,899 | 67.84% | Cost of Goods Sold5 | 4,740,120 | 66.11% | 69.57% | 4,752,350 | 68.33% |
| Total Gross Profit7 | 3,247,037 | 35.16% | 34.78% | 3,081,579 | 32.07% | Total Gross Profit7 | 2,429,874 | 33.89% | 39.13% | 2,352,981 | 33.83% |
| Total Operating Expense8 | 2,055,025 | 22.25% | 43.48% | 1,929,600 | 18.07% | Total Operating Expense8 | 1,878,383 | 26.20% | 39.13% | 1,782,494 | 25.63% |
| *Net Income from Operations (before taxes)9 | 1,192,012 | 12.91% | 43.48% | 1,101,989 | 14.39% | *Net Income from Operations (before taxes)9 | 551,490 | 7.69% | 56.52% | 575,209 | 8.27% |
| Net Income per Vehicle Sold 10 | 3,101 | 2,927 | Net Income per Vehicle Sold 10 | 1,740 | 1,930 |
| Average | First Quartile | % Met or | First Quartile Median | Second Quartile Average | % Met or | Second Quartile Median | ||
|---|---|---|---|---|---|---|---|---|
| 384 | 377 | 317 | 298 | |||||
| 3,101 | 2,927 | Net Income per Vehicle Sold 10 | 1,740 | 1,930 |
| Third Quartile = 23 Stores | Third Quartile Average | % Met or Exceed Avg | Third Quartile Median | Fourth Quartile = 23 Stores | Fourth Quartile Average | % Met or Exceed Avg | Fourth Quartile Median | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Annual Vehicle Sales6 | 275 | 254 | Annual Vehicle Sales6 | 225 | 219 | ||||||
| Sales Revenue2,11 | 4,564,640 | 72.32% | 34.78% | 4,270,290 | 71.77% | Sales Revenue2,11 | 3,873,792 | 74.44% | 47.83% | 3,832,479 | 74.14% |
| Finance Revenue3,11 | 1,747,479 | 27.68% | 43.48% | 1,605,537 | 26.98% | Finance Revenue3,11 | 1,330,239 | 25.56% | 47.83% | 1,239,640 | 23.98% |
| Total Revenue4,11 | 6,312,119 | 100.00% | 34.78% | 5,949,808 | 100.00% | Total Revenue4,11 | 5,204,030 100.00% | 47.83% | 5,169,027 100.00% | ||
| Cost of Goods Sold5 | 4,053,081 | 64.21% | 39.13% | 3,842,016 | 64.57% | Cost of Goods Sold5 | 3,499,836 | 67.25% | 52.17% | 3,559,303 | 68.86% |
| Total Gross Profit7 | 2,259,038 | 35.79% | 34.78% | 2,019,243 | 33.94% | Total Gross Profit7 | 1,704,194 | 32.75% | 47.83% | 1,566,606 | 30.31% |
| Total Operating Expense8 | 2,009,058 | 31.83% | 34.78% | 1,790,371 | 30.09% | Total Operating Expense8 | 1,967,782 | 37.81% | 43.48% | 1,900,212 | 36.76% |
| *Net Income from Operations (before taxes)9 | 24 |
Source: Item 19 — Financial Performance Representations (FDD pages 63–81)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, the average cost of goods sold for stores in the first quartile is presented in two different tables. One table, which includes 23 stores in the first quartile, shows an average cost of goods sold of $5,989,012, representing 64.84% of total revenue. Another table, which includes only 2 stores in the first quartile, indicates a higher average cost of goods sold at $6,592,851, accounting for 61.40% of total revenue.
It is important to note that the percentage of stores meeting or exceeding the average cost of goods sold differs between the two quartiles. In the first quartile of 23 stores, 43.48% met or exceeded the average, while in the first quartile of 2 stores, 50.00% met or exceeded the average. This suggests variability in performance even among the top-performing stores.
A prospective franchisee should carefully consider these figures and understand the factors that contribute to the cost of goods sold in Byrider's business model. Understanding the reasons for the difference in average cost of goods sold between the two tables, and the percentage of stores exceeding the average, is crucial for assessing the potential profitability and financial performance of a Byrider franchise.