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Franchise Services of North America Inc. is the largest car rental franchisor in North America, and operates in three distinct segments; franchising, car rental and insurance.
Franchise Services of North America Inc. (TSXV: FSN) was recently formed through a reverse take over (RTO), as more fully described below. The Company is the largest car rental franchisor in North America, and operates in three distinct segments; franchising, car rental and insurance. The Company has also entered the car sales marketplace with the opening of U-Save Car Sales.
In November 2006, U-Save Auto Rental of America, Inc. completed a RTO of Rent-A-Wreck Capital Inc. (TSXV: RAW). The RTO included the recapitalization of the Company: the former shareholders of U-Save received 94.25% of the outstanding shares; and the shareholders of Rent-A-Wreck Capital received 5.75%. Simultaneous to the take over, the Company was re-named Franchise Services of North America Inc. ("FSNA"), and a private placement of public securities was completed.
The Company and its subsidiaries own and operate the following brands: U-Save Car & Truck Rental, Rent-A-Wreck of Canada, U-Save Car Sales, Auto Rental Resource Center (ARRC), Xpress Rent-A-Car and Peakstone Insurance. Unique to FSNA's model is the ability to offer all franchisees the services of Peakstone, to provide a one-stop shopping point for all of their insurance needs, whether it is related to their business or personal requirements.
A strong advantage has emerged recently for FSNA, as many major competitors are buying back their franchisees to run as corporate stores, mainly as a restructuring tool. This is creating a pool of talented, experienced car rental executives looking for new opportunities and providing a unique opportunity for FSNA to seek highly qualified candidates for their franchises.
Having an experienced board and management, FSNA works aggressively to find opportunities for their franchisees, such as in-airport rental locations, and the recent development leading to their kayak.com listing and more importantly, their Expedia.com listing. The Company is also working hard to expand further into Canada and the US, along with other heavily traveled areas of the world.
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