Volvo Rents patient as search for Reno franchisee takes years
Three years ago, Volvo Rents began searching for a franchisee to open an equipment-rental business in the Reno area.
It’s still searching.
Nick Mavrick, vice president of global marketing for Volvo Rents, says the company wishes things would move more quickly, but it’s remaining patient.
“The biggest thing for us is finding the right person,” says Mavrick. “Sometimes it takes months. Sometimes it takes years.”
Volvo Rents, a division of Volvo Construction Equipment North America, continues to think the Reno market is highly attractive.
Construction spending in the Reno market this year is projected to reach $1.6 billion, according to a study commissioned by
Volvo Rents from InfoTech Marketing, a Colorado analyst of construction markets. Growth in construction spending in the area is projected by InfoTech to grow at a compound annual rate of 7.28 percent through 2012.
Volvo Rents provides a big financing package $4 million to $5 million per store to help qualified franchisees open locations. Applicants need liquid net worth of at least $750,000 to qualify for the financing package.
Volvo Rents franchisees operate 79 stores in North America and another 70 in Europe.
Today, RSAR published its newest monthly market report, revealing a median price for single-family homes of $415,000 for Reno/Sparks in March.