Start-Up Costs and Fees |
||
| WoodSpring Suites | Hospitality | |
| Investment | 5035000 - 7031000 | 133600 - 2602000 |
| Franchise Fee | 0 | |
| Royalty Fee | 5% | $35/rm/night |
| Advertising Fee | 2.50% | |
| Year Founded | 2003 | 1971 |
| Year Franchised | 2004 | 1982 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| WoodSpring Suites | Hospitality | |
| Experience | ||
Financing Options |
||
| WoodSpring Suites | Hospitality | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| WoodSpring Suites | Hospitality | |
| Training | On-The-Job Training: Upon request Classroom Training: Varies | Classroom Training: 10.5 hours Additional Training: At regional training seminars |
| Support | Purchasing Co-ops Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations |
| Marketing | Ad Templates Regional Advertising Social media Website development Email marketing | |
| Operations | 50% of all franchisees own more than one unit Number of employees needed to run franchised unit: 15 Absentee ownership of franchise is allowed. (80% of current franchisees are owner/operators) | |
Expansion Plans |
||
| WoodSpring Suites | Hospitality | |
| US Expansion | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, 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, Washington, West Virginia, Wisconsin, Wyoming | |
| Canada Expansion | Nationwide, Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon Territory | |
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| WoodSpring Suites | |
| Hospitality | |
| Franchise Fee | |
| WoodSpring Suites | |
| Hospitality | |
| Royalty Fee | |
| WoodSpring Suites | 5% |
| Hospitality | $35/rm/night |
| Advertising Fee | |
| WoodSpring Suites | 2.50% |
| Hospitality | |
| Year Founded | |
| WoodSpring Suites | 2003 |
| Hospitality | 1971 |
| Year Franchised | |
| WoodSpring Suites | 2004 |
| Hospitality | 1982 |
| Term Of Agreement | |
| WoodSpring Suites | |
| Hospitality | 5 years |
| Renewal Fee | |
| WoodSpring Suites | |
| Hospitality | |
Business Experience Requirements |
|
| Experience | |
| WoodSpring Suites | |
| Hospitality | |
Financing Options |
|
| Franchise Fees | |
| WoodSpring Suites | |
| Hospitality | |
| Start-up Costs | |
| WoodSpring Suites | |
| Hospitality | |
| Equipment | |
| WoodSpring Suites} | |
| Hospitality | |
| Inventory | |
| WoodSpring Suites | |
| Hospitality | |
| Receivables | |
| WoodSpring Suites | |
| Hospitality | |
| Payroll | |
| WoodSpring Suites | |
| Hospitality | |
Training & Support |
|
| Training | |
| WoodSpring Suites | On-The-Job Training: Upon request Classroom Training: Varies |
| Hospitality | Classroom Training: 10.5 hours Additional Training: At regional training seminars |
| Support | |
| WoodSpring Suites | Purchasing Co-ops Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations |
| Hospitality | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations |
| Marketing | |
| WoodSpring Suites | |
| Hospitality | Ad Templates Regional Advertising Social media Website development Email marketing |
| Operations | |
| WoodSpring Suites | |
| Hospitality | 50% of all franchisees own more than one unit Number of employees needed to run franchised unit: 15 Absentee ownership of franchise is allowed. (80% of current franchisees are owner/operators) |
Expansion Plans |
|
| US Expansion | |
| WoodSpring Suites | |
| Hospitality | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, 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, Washington, West Virginia, Wisconsin, Wyoming |
| Canada Expansion | |
| WoodSpring Suites | |
| Hospitality | Nationwide, Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon Territory |
| International Expansion | |
| WoodSpring Suites | |
| Hospitality | |