What was the median gross mark-up for Byrider stores in the second quartile?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
) of Franchisee-Owned Stores Open 24+ Months as of 12/31/2023
STORE RESULTS BROKEN DOWN INTO QUARTILES
| First Quartile = 23 Stores | Average | Exceed Avg. | Median | Second Quartile = 23 Stores | Average | Exceed Avg. | Median |
|---|---|---|---|---|---|---|---|
| Vehicle Purchase Price 26 | $6,746 | 17.39% | $7,235 | Vehicle Purchase Price 26 | $6,607 | 47.83% | $6,721 |
| Reconditioning Expense 27 | $2,211 | 60.87% | $2,126 | Reconditioning Expense 27 | $2,215 | 52.17% | $2,198 |
| Down Payment (cash/trade/deferred) 28 | $2,380 | 30.43% | $2,187 | Down Payment (cash/trade/deferred) 28 | $2,439 | 52.17% | $2,455 |
| Gross Mark-Up 29 | $6,988 | 52.17% | $7,007 | Gross Mark-Up 29 | $6,948 | 52.17% | $7,092 |
| Installment Contract Amount Financed 32 | $15,522 | 60.87% | $15,689 | Installment Contract Amount Financed 32 | $14,442 | 52.17% | $14,621 |
| Interest Rate 33 | 20.68% | 34.78% | 20.32% | Interest Rate 33 | 21.55% | 47.83% | 21.23% |
| Monthly Payment Equivalent Amount 34 | $495 | 52.17% | $495 | Monthly Payment Equivalent Amount 34 | $485 | 43.48% | $478 |
| Discount Rate 30 | 29.13% | 56.52% | 30.00% | Discount Rate 30 | 29.86% | 78.26% | 30.00% |
| Average Trade Percentage 37 | 19.06% | 30.43% | 16.32% | Average Trade Percentage 37 | 17.95% | 56.52% | 18.38% |
| Average CoBuyer Percentage 38 | 17.46% | 39.13% | 15.89% | Average CoBuyer Percentage 38 | 15.71% | 39.13% | 14.11% |
| All Delinquency (% of portfolio 1 or more days delinquent) 35 | 9.27% | 60.87% | 8.36% | All Delinquency (% of portfolio 1 or more days delinquent) 35 | 10.40% | 52.17% | 10.12% |
| Net Charge Off (as % of Portfolio Amount) 39 | 0.96% | 56.52% | 0.93% | Net Charge Off (as % of Portfolio Amount) 39 | 1.17% | 52.17% | 1.16% |
| Static Pool Charge Off (Originations from 2 Years Prior) 40 | 19.43% | 60.87% | 18.70% | Static Pool Charge Off (Originations from 2 Years Prior) 40 | 24.43% | 52.17% | 24.23% |
| Average Cash on Cash (Originations from 2 Years Prior) 41 | 115.86% | 56.52% | 116.54% | Average Cash on Cash (Originations from 2 Years Prior) 41 | 111.60% | 52.17% | 112.08% |
| Warranty Expense/Vehicle Sold 31 | $656 | 43.48% | $735 | Warranty Expense/Vehicle Sold 31 | $740 | 52.17% | $714 |
| Average Monthly Marketing Expenses 42 | $5,552 | 47.83% | $6,204 | Average Monthly Marketing Expenses 42 | $7,147 | 60.87% | $6,716 |
| Average Monthly Operating Expenses 36 | $176,686 | 56.52% | $165,214 | Average Monthly Operating Expenses 36 | $159,927 | 60.87% | $151,437 |
| Third Quartile = 23 Stores | Average | Exceed Avg. | Median | Fourth Quartile = 23 Stores | Average | Exceed Avg. | Median | |--------------------------------------------------------------------------|-----------|-------------|-----------|--------------------------------------------------------------------------|-----------|-------------|-----------| | | | | | | | | | | Vehicle Purchase Price 26 | $6,808 | 56.52% | $6,609 | Vehicle Purchase Price 26 | $6,139 | 52.17% | $6,139 | | Reconditioning Expense 27 | $2,392 | 56.52% | $2,325 | Reconditioning Expense 27 | $2,573 | 52.17% | $2,560 | | Down Payment (cash/trade/deferred) 28 | $2,430 | 43.48% | $2,322 | Down Payment (cash/trade/deferred) 28 | $2,376 | 47.83% | $2,347 | | Gross Mark-Up 29 | $6,901 | 52.17% | $6,915 | Gross Mark-Up 29 | $6,807 | 43.48% | $6,578 | | Installment Contract Amount Financed 32 | $14,878 | 34.78% | $14,503 | Installment Contract Amount Financed 32 | $14,541 | 56.52% | $14,661 | | Interest Rate 33 | 21.24% | 39.13% | 21.00% | Interest Rate 33 | 21.11% | 34.78% | 21.00% | | Monthly Payment Equivalent Amount 34 | $486 | 39.13% | $482 | Monthly Payment Equivalent Amount 34 | $485 | 47.83% | $485 | | Discount Rate 30 | 27.83% | 69.57% | 30.00% | Discount Rate 30 | 28.54% | 86.96% | 30.00% | | | | | | | | | | | Average Trade Percentage 37 | 18.94% | 39.13% | 14.37% | Average Trade Percentage 37 | 18.68% | 43.48% | 15.79% | | Average CoBuyer Percentage 38 | 12.96% | 43.48% | 11.24% | Average CoBuyer Percentage 38 | 13.01% | 47.83% | 12.87% | | | | | | | | | | | All Delinquency (% of portfolio 1 or more days delinquent) 35 | 11.21% | 43.48% | 11.94% | All Delinquency (% of portfolio 1 or more days delinquent) 35 | 14.18% | 73.91% | 11.14% | | Net Charge Off (as % of Portfolio Amount) 39 | 1.22% | 43.48% | 1.32% | Net Charge Off (as % of Portfolio Amount) 39 | 1.10% | 52.17% | 1.09% | | Static Pool Charge Off (Originations from 2 Years Prior) 40 | 25.56% | 52.17% | 25.25% | Static Pool Charge Off (Originations from 2 Years Prior) 40 | 23.57% | 56.52% | 21.54% | | Average Cash on Cash (Originations from 2 Years Prior) 41 | 110.69% | 56.52% | 111.25% | Average Cash on Cash (Originations from 2 Years Prior) 41 | 111.38% | 60.87% | 112.56% | | | | | | | | | | | Warranty Expense/Vehicle Sold 31 | $709 | 56.52% | $687 | Warranty Expense/Vehicle Sold 31 | $791 | 56.52% | $762 | | Average Monthly Marketing Expenses 42 | $5,739 | 60.87% | $4,744 | Average Monthly Marketing Expenses 42 | $5,550 | 43.48% | $6,834 | | Average Monthly Operating Expenses 36 | $170,450 | 73.91% | $156,971 | Average Monthly Operating Expenses 36 | $169,477 | 47.83% | $173,368 |
Byrider Franchised Stores Systemwide Average Figures for Company-Owned Stores Included in Tables A-3 and A-4
Based on 2 Years (period ending December 31 in 2022 and 2023) of Company-Owned Stores Open 24+ Months as of 12/31/2023
| 8 Franchise Locations | Average | Exceed Avg. | Median | |--------------------------------------------------------------------------|-----------|-------------|-----------| | | | | | | Vehicle Purchase Price 26 | $5,886 | 50.00% | $5,872 | | Reconditioning Expense 27 | $2,868 | 25.00% | $2,927 | | Down Payment (cash/trade/deferred) 28 | $3,393 | 37.50% | $3,642 | | Gross Mark-Up 29 | $7,447 | 25.00% | $7,535 | | Installment Contract Amount Financed 32 | $14,572 | 50.00% | $14,580 | | Interest Rate 33 | 21.51% | 25.00% | 22.02% | | Monthly Payment Equivalent Amount 34 | $477 | 37.50% | $484 | | Discount Rate 30 | 30.00% | 100.00% | 30.00% | | | | | | | Average Trade Percentage 37 | 32.93% | 50.00% | 33.58% | | Average CoBuyer Percentage 38 | 23.69% | 37.50% | 25.50% | | | | | | | All Delinquency (% of portfolio 1 or more days delinquent) 35 | 9.02% | 75.00% | 8.70% | | Net Charge Off (as % of Portfolio Amount) 39 | 0.78% | 37.50% | 0.79% | | Static Pool Charge Off (Originations from 2 Years Prior) 40 | 16.31% | 50.00% | 15.83% | | Average Cash on Cash (Originations from 2 Years Prior) 41 | 123.40% | 37.50% | 124.90% | | | | | | | Warranty Expense/Vehicle Sold 31 | $1,012 | 50.00% | $992 | | Average Monthly Marketing Expenses 42 | $13,377 | 50.00% | $12,961 | | Average Monthly Operating Expenses 36 | $171,195 | 37.50% | $178,632 |
Byrider Franchised Stores Systemwide Average Figures for Company-Owned Stores Included in Tables A-3 and A-4
Based on 2 Years (period ending December 31 in 2022 and 2023) of Company-Owned Stores Open 24+ Months as of 12/31/2023
STORE RESULTS BROKEN DOWN INTO QUARTILES
| First Quartile = 2 Stores | Average | Exceed Avg. | Median | Second Quartile = 2 Stores | Average | Exceed Avg.
Source: Item 19 — Financial Performance Representations (FDD pages 63–81)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, the median gross mark-up for stores in the second quartile is detailed in Item 19, which presents financial performance representations. There are three different tables provided in the FDD that each contain information on the second quartile.
In the first table, for the second quartile consisting of 23 stores, the median gross mark-up is $7,092. The second table provides data for 25 stores in the second quartile, and the median gross mark-up is also $7,092. The third table provides data for only 2 stores in the second quartile, and the median gross mark-up is $7,570.
It is important to note that the tables represent different subsets of Byrider stores, potentially segmented by location, store size, or other factors. A prospective franchisee should clarify with Byrider which table is most representative of the type of franchise they are considering and understand the factors that contribute to the differences in financial performance across these quartiles.