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Our Factsheet
Growing the business since 1958
In Summary: Day after day, Budget employees and operators at approximately 2,700 locations in more than 120 countries help support our vision, mission and values.
Quick History
Budget Rent A Car was founded by Morris Mirkin in 1958 with a $24,000 investment. The company name was chosen to appeal to the “budget-minded” or “value-conscious” renter. In 1959, in an effort to grow the business, Mirkin appealed to a distant relative, Jules Lederer, president of a Chicago-based manufacturer of writing instruments, for additional financing. Lederer formed a leasing company and leased new vehicles to Mirkin. In 1960, Lederer formed Budget Rent A Car Corporation in Chicago. The company then grew rapidly, both nationally and internationally.
In 1986, Gibbons, Green and van Amerongen Ltd. along with management and selected investors purchased Budget from Transamerica Corp. in a LBO transaction. Budget made an initial public offering of 3.2 million shares in 1987.
In 1992, Budget moved downtown Chicago headquarters to Lisle, Ill.
In April 1997, Budget was bought by Team Rental Group, Budget’s largest franchisee in the United States and changed its name to Budget Group, Inc. Budget Group began trading on the NYSE that year.
In 1997, Budget unveiled “Unlimited Budget” a travel agent loyalty program through which members receive a free Unlimited Budget debit MasterCard card and earn points (dollars) for completed bookings.
In 1998, Budget introduced “Fastbreak,” Budget’s express service with paperless transaction.
In 2002, Budget Group was delisted from the NYSE and sold Budget Rent A Car assets in the United States, Canada, Latin America, Caribbean, Australia and New Zealand to Cendant Corporation. Other worldwide assets were sold to Avis Europe, Plc. Later, Cendant moved Budget headquarters from Lisle, Ill. to Parsippany, N.J.
In 2006, Cendant Corporation separated into four independent companies: Realogy, Wyndham Worldwide, Travelport and Avis Budget Group, Inc. As a result, Budget Rent A Car System, Inc. is now a subsidiary of Avis Budget Group.
In 2011, Avis Budget Group, Inc. acquired Avis Europe plc. The transaction re-unites Avis Budget Group with its licensee for Europe, the Middle East, Africa and Asia.
About this location:
Location
Jacksonville – Philips Hwy
Additional Travel Information
When you are planning a family trip down to Jacksonville, one of the most important things that you need to secure is reliable transportation. Instead of waiting for the bus or train, you can enjoy a greater degree of personal driving freedom when you invest in car rentals. Budget car rental on Philips Highway focuses on providing all types of family visitors with a wide selection of rental cars.After you leave Philips Highway in your new rental vehicle, you can explore any variety of other destinations in the city. The famous zoo and gardens, named after the city, are among the most commonly visited attractions. Here, you and your family can enjoy the various exhibits and rest alongside the gorgeous scenery in the gardens at your own pace. Fans of baseball are strongly encouraged to visit the Baseball Grounds as well. You can root for your favorite team and check out some of the local sports action with the whole family. Do not forget to check out the Maritime Museum, especially if you would like to see a more educational tour.If you are interested in finding a high-quality Jacksonville rental car deal, we are the professionals to call. When you call our Budget Philips Highway location, we can help you with a quality rental that you can reserve ahead of time. Our impressive fleet of vehicles on Philips Highway Jacksonville has been serving local residents for decades. The next time you are in the area and you would like to invest in reliable rental vehicles at incredible prices, be sure to contact us and see how we can help.
Additional Location Information
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