Risk Score
Pending analysis
Investment Range
$703,561 - $1,687,275
Franchise Fee
$20,000
Total US Locations
193
Business Summary
RNR Tire Express operates retail stores that specialize in selling and renting tires, wheels, and various other automotive accessories. These stores provide products and services related to automotive customization and maintenance, primarily targeting the general public.
Corporate History
SPF Mgt. Co., LLC, which operates as RNR Tire Express, was initially formed in Florida in 1999 as G & L Mgt Co., LLC, later changing its name to SPF Mgt. Co., LLC on May 1, 2001. The company began offering franchises for its RNR Tire Express retail stores, which sell and rent tires, wheels, and other automotive accessories, in 2002. Its affiliate, Rent "N" Roll, LLC, was formed in 2000, owns the brand's proprietary marks, and operates several company-owned stores.
Financial Overview
Investment Range
$703,561 - $1,687,275
Franchise Fee (Low)
$20,000
Franchise Fee (High)
$45,000
Royalty %
5%
Equipment Costs (Low)
$141,000
Equipment Costs (High)
$710,000
Working Capital
$400,000
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
The financial statements for RNR Tire Express, provided as SPF Mgt. Co., LLC, indicate strong financial health. In 2023, the company reported a net income of over $4.5 million, which is an increase from $3.4 million in 2022. Cash and cash equivalents stood at $3.37 million at the end of 2023. The independent auditors issued an unqualified opinion, affirming that the financial statements are presented fairly in all material respects and indicating no concerns about the company's ability to continue as a going concern.
Financing Details
RNR Tire Express does not offer any direct or indirect financing to its franchisees and does not guarantee any notes, leases, or other obligations. Franchisees are responsible for securing their own funding from third-party sources.
Performance Metrics
Total US Locations
193
Franchised Units
169
Corporate Units
24
Avg Square Footage
5,000
Franchising Since
2002
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
RNR Tire Express has no litigation required to be disclosed in Item 3 of its Franchise Disclosure Document. This means the franchisor and its management have not been involved in any material litigation proceedings that need to be reported.
Bankruptcy History
RNR Tire Express has no bankruptcy history required to be disclosed. Neither the franchisor nor its key personnel have filed for bankruptcy or been involved in bankruptcy proceedings that fall under the disclosure requirements.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their RNR Tire Express franchise agreement, franchisees must provide timely notice, renovate their physical premises, and not be in default. They must not have accumulated more than 10 defaults during the initial term or more than three defaults in the last two years of the initial term. Franchisees need to satisfy all monetary obligations, prove they have the right to possess the premises, sign the then-current franchise agreement, execute a general release, comply with current training requirements, and pay a $1,500 Successor Agreement fee. RNR Tire Express may offer a new contract with different terms, but the territory boundaries and fees will not be worse than those offered to similarly situated franchisees.
Training & Support Program
Franchisor Assistance
Before opening, RNR Tire Express provides franchisees with site selection guidelines and approves their location. They loan a Confidential Operations Manual and offer an initial training program for a minimum of four trainees. RNR Tire Express also offers up to 14 days of on-site pre-opening and opening supervision, though franchisees cover the representative's expenses. They provide standard floor plans and approve grand opening advertising campaigns. After opening, ongoing support includes advertising plans, promotional materials, designated approved suppliers, advice on management, operations, inventory, sales methods, design, and marketing techniques. RNR Tire Express conducts periodic inspections, may establish a brand promotion fund, and provides guidance on pricing.
Initial Training Hours
103
Training Location
Corporate office in Tampa, Florida, and corporate RNR locations in Tampa, Florida, with some online components.
Ongoing Support
After opening, RNR Tire Express provides ongoing support including advertising plans, promotional materials, and designates approved suppliers. They offer advice and written materials on managing operations, inventory, sales methods, and new product and marketing techniques. RNR Tire Express conducts periodic inspections and has the right to establish and administer a brand promotion fund. They also provide guidance on pricing. Franchisees may be required to attend periodic refresher training and/or annual meetings, for which they cover their own expenses.
Franchise Requirements
Ideal Candidate Profile
RNR Tire Express recommends that franchisees personally participate in the direct operation of the business, though on-premises supervision is not strictly required if a manager who has completed their training program oversees day-to-day operations. Both the franchisee or approved manager must dedicate full-time attention and best efforts to the business. The franchisor seeks individuals or companies whose principal equity owners and executive officers will be designated as Controlling Principals, personally guaranteeing performance and bound by certain obligations.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
retail
Owner Participation
supervisory
Territory Type
protected
Staff Count
4
Territory Size Requirements
Each RNR Tire Express franchise territory will encompass an area with a minimum three-mile radius around the approved location. The specific boundaries are determined by factors such as demographics, concentration of other businesses, existing and potential competitors, projected area growth, and the local economic environment.
Staffing Notes
RNR Tire Express locations require a minimum of four trained staff members to begin operations. This includes an operator (who can be the franchisee or their delegate), a general manager, and two additional front-line team members. These front-line team members can include roles such as sales, account managers, and shop technicians. While the franchisee is not required to personally supervise the day-to-day operations, the RNR Tire Express store must always be under the direct, on-premises supervision of either the franchisee, one of their approved principals, or a manager who has successfully completed the RNR Tire Express training program. Managers must devote full-time attention to the RNR Tire Express store and are not permitted to engage in competing businesses. All staff, including managers, must comply with the RNR Tire Express dress code and customer service requirements. If a manager leaves, a replacement must be designated and trained within 60 days. The franchisee is solely responsible for all employment decisions, including hiring, firing, wages, and discipline, even if the manager makes these decisions.