HOV Rides franchise
2023 filing · July 31, 2023Shares sales figures
HOV Rides at a glance
A specialty transportation business offering non-emergency medical rides, student transport, airport transfers and limousine service. At the end of 2022 there were 1 HOV Rides locations in the US, all company-owned.
The business
- Industry
- Business services
- Franchisor
- Specialty Solutions LLC
- The company that sells the franchises
- Franchisor based in
- Pennsauken, New Jersey
What you pay
- Cost to open
- $160K–$232K
- Fee, build-out and opening working capital
- Franchise fee
- $45,000
- For a territory of at least 300,000 people
- Royalty
- 6%
- 6% of gross sales, paid monthly. A brand development fund of up to 2% is not collected yet
- Brand fund
- None now
- Up to 2% of gross sales, not charged at present
- Renewal fee
- See terms
- 50% of the then-current Initial Franchise Fee
- Agreement length
- 5 years
- Franchisor financing
- Some financing offered
Where it is
- US locations, 2022
- 1
- Franchised and company-owned
- Franchised
- 0
- Company-owned
- 1
- Change in 3 years
- 0
- Franchised locations, 2020–2022
- States
- 1
- Most in New Jersey
From Specialty Solutions LLC’s 2023 filing; SBA status from the SBA Franchise Directory, October 28, 2026.
Where it ranks
HOV Rides among all franchises with the same figure.
| Figure | HOV Rides | Among all franchises |
|---|---|---|
| Cost to open, midpointHalfway between the low and high estimate | $195,643 | Costs less than 70% of franchises |
| Franchise feePaid once, when you sign | $45,000 | Higher than 55% of franchises |
| RoyaltyShare of sales paid to the franchisor | 6% | Higher than 35% of brands with a set rate |
| US locationsFranchised and company-owned | 1 | Fewer than 88% of franchises |
How much a HOV Rides franchise costs
Opening one HOV Rides costs an estimated $159,635 to $231,650. That covers the franchise fee and everything else needed to open, through the first months of working capital.
Source: Specialty Solutions LLC, 2023 filing, page 12
HOV Rides franchise fee
The franchise fee is $45,000, for a territory of at least 300,000 people. You pay it when you sign the franchise agreement.
Source: Specialty Solutions LLC, 2023 filing, page 8
Royalty and ongoing fees
| Royalty | 6% of gross sales, paid monthly. A brand development fund of up to 2% is not collected yet. |
|---|---|
| Brand or marketing fund | Up to 2% of gross sales, not charged at present. |
| Transfer | $2,500 |
| Renewal | 50% of the then-current Initial Franchise Fee |
| Supplemental and Refresher Training | $300 per day, plus expenses |
The typical franchise royalty is 6% of sales, plus 2% for marketing. See franchise fees and royalties to compare.
Source: Specialty Solutions LLC, 2023 filing, page 9
Other fees as filed, from page 9. The filing lists every fee, including late fees and audit costs.
Sales and earnings
Shares figures HOV Rides publishes sales or earnings figures for its locations. The full tables, with notes on which locations are counted, are in its filing.
Source: Specialty Solutions LLC, 2023 filing, page 30
How HOV Rides compares
Of the 324 business services franchises on this site, HOV Rides is the 267th cheapest to open and the 269th largest by number of locations.
| Figure | HOV Rides | Typical business services brand | Typical franchise |
|---|---|---|---|
| Cost to open, low end | $160K | $77K | $222K |
| Cost to open, high end | $232K | $136K | $477K |
| Franchise fee | $45K | $45K | $40K |
| Royalty | 6% | 7% | 6% |
| US locations | 1 | 32 | 21 |
| Shares earnings figures | Yes | 187 of 324 | 2,147 of 3,352 |
Typical is the median across the 324 brands in business services franchises; typical franchise, across every brand here.
Locations opened and closed
| Year | Franchised | Company-owned | Opened | Closed |
|---|---|---|---|---|
| 2020 | 0 (0) | 1 | 0 | 0 |
| 2021 | 0 (0) | 1 | 0 | 0 |
| 2022 | 0 (0) | 1 | 0 | 0 |
Closed or left counts terminations, non-renewals, locations bought back by the franchisor and locations that stopped operating.
See which brands grew most in the fastest-growing franchises rankings.
More in the guides: franchise failure rates.
Source: Specialty Solutions LLC, 2023 filing, page 32
Where HOV Rides locations are
At the end of 2022, HOV Rides had locations in 1 state. The most are in New Jersey.
- New Jersey1
| State | Franchised | Company-owned | Total |
|---|---|---|---|
| New Jersey | 0 | 1 | 1 |
Source: Specialty Solutions LLC, 2023 filing, page 33
Who owns HOV Rides?
HOV Rides franchises are sold by Specialty Solutions LLC. Its filing names no parent company.
From Specialty Solutions LLC’s 2023 filing, page 6.
Lawsuits and bankruptcy
| Lawsuits and regulatory actions | None. The filing says no litigation has to be disclosed. |
|---|---|
| Bankruptcy | No bankruptcy of the franchisor. Two of its people filed for personal Chapter 7 bankruptcy, one in October 2016 (discharged February 2017) and one in April 2020 (discharged July 2020). |
Franchisors must disclose lawsuits and bankruptcies involving the company, its parents and affiliates, and its executives. Many cases are routine disputes with franchisees over fees or contracts; read the descriptions in the filing and ask current owners about anything that worries you.
Source: Specialty Solutions LLC, 2023 filing, litigation on page 8, bankruptcy on page 8
HOV Rides filings
The figures on this page come from Specialty Solutions LLC’s 2023 filing, issued July 31, 2023, on record with the NASAA Electronic Filing Depository.
| Filing | Issued | Registry | On this page |
|---|---|---|---|
| 2023 filing | July 31, 2023 | NASAA depository | Costs, fees and locations, 2020–2022 |
Each link opens the filing as a PDF. See the newest filings across all brands.
