Franchise Talk

JD Byrider Opening New Locations

August 4th, 2009 | Author: Jack

More than halfway through 2009, leading used car and finance company franchise J.D. Byrider reports an improvement in portfolio performance over second quarter 2008.

Additionally, the company will open three new stores in the coming months – one company-owned location in Cincinnati, as well as franchise locations in New Orleans and Raleigh, N.C.

According to Steve Wedding, president – Byrider Franchising, Inc., the company’s portfolio performance has improved, leading to an 11 percent decrease in charge-offs – loans that are deemed uncollectible and written off – as well as decreases in one-day, 10-day and 30-day delinquencies when compared to the same time last year. “With these economic conditions, our customers’ jobs are their number one priority, and our cars provide the reliable transportation necessary for getting to and from work,” said Wedding.

“The decrease in charge-offs and delinquencies show how vital transportation is to getting and keeping a job.”

J.D. Byrider’s new company-owned store in Cincinnati will open in early August on the city’s east side, and the franchise locations in New Orleans and Raleigh, N.C. – both owned by new franchisees – are set to open in September. With the three new locations, J.D. Byrider will have 128 locations in 30 states with plans to open additional stores later this year.

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