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Avis Budget Group – An Internationally Acclaimed Brand of Car Rental Services in the US
Avis Budget Group Inc. is a globally recognized company of car rental services successfully operating in the areas of North America, Australia, South America, New Zealand, and India. The third largest agency of car rental worldwide, Avis offers premium quality services of car rental to commercial segments serving the distinctive needs of business travelers from different parts of the countries at leading airports.
The company operates most of its off-airport outlets as franchises rather than company-operated and owned. In fact, it is the first business of car rental having its presence at different airports. Having its widespread presence across 4900 locations of the world, the company is still striving hard to expand its reach globally.
Its current market value
Occupying the 330th rank in the latest list of Fortune 500 companies, the company has jumped up by 6 positions this year as compared to the list in 2014. At present, Avis Budget group has become a renowned Zipcar brand registered under the NASDAQ with the ticker of CAR. Having more than one million members across Canada, Europe and United States, the company owns numerous subsidiaries and Avis Car Rental is one of them.
The company has been a successful part of automotive retailing services, and exhibited 0.2% increase in its overall revenue that accounts for $ 8,502 Million as per the reports of Beta Fortune group. While talking about the overall market value of the company as of 31st march 2016, it accounts for $2,607 Million that includes a total asset of $17,634 Million.
The company’s overall profit growth this year is 27.8% that makes it $313 million overall. The Fortune 500 also describes its profit percentage in terms of revenue, stockholder equity, and assets. The overall profit in revenues that the company shows is 3.7% whereas the profit in the assets is 1.8%. However, the profit for the stockholder equity is 71.3%. The entire credit of its successful growth goes to its vast team of about 30000 employees.
The story behind its origin
Avis Car Rental is a proud subsidiary of Avis Budget Group finding its establishment late back in the year 1948 by the visionary Warren Avis with just three cars at Ypsilanti, Warren Run airport and Michigan. Having its headquarters in Parsippany Troy Hills in New Jersey, US, the company started its branch operations just few years after its establishment across the US thereby becoming the second largest company of car rental by the year 1953.
By the end of its 10th anniversary in the year 1956, the company started its international operations in Mexico, Canada, and Europe. Among the other subsidiaries of Avis Budget group, include – Budget Car Rental, Apex car rental, Budget truck rental, Payless car rental, Zipcar and Maggiore. Today, the company as a whole owns over 11000 truck and car rental locations all across the world.
How it functions?
Having its widespread presence across 165 countries in 5500 locations in the form of franchises, the company is continuously striving to open its new franchises worldwide. It is looking for ideal properties on lease to establish its new outlets either franchisees or corporate ones for the convenience of the corporate segment. According to its lease term agreement, the minimum lease term for your property is 10 to 15 years that can further extend from 20 to 40 years.
In addition, the company assures to increase the lease rent after every 5 years by 10%. The minimum amount for investment that it desires may range between $1m to $3m.
AVIS Properties For Sale Across the United States :
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, Wyoming