Start-Up Costs and Fees |
||
| WoodSpring Suites | Microtel Inns & Suites | |
| Investment | 5035000 - 7031000 | 5709119 - 6799356 |
| Franchise Fee | ||
| Royalty Fee | 5% | 6% |
| Advertising Fee | 2.50% | 2% |
| Year Founded | 2003 | 1987 |
| Year Franchised | 2004 | 1988 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| WoodSpring Suites | Microtel Inns & Suites | |
| Experience | General business experience | |
Financing Options |
||
| WoodSpring Suites | Microtel Inns & Suites | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| WoodSpring Suites | Microtel Inns & Suites | |
| Training | On-The-Job Training: Upon request Classroom Training: Varies | |
| Support | Purchasing Co-ops Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
| Marketing | Co-op advertising, Ad slicks, National media, Regional advertising | |
| Operations | 30% of all franchisees own more than one unit Number of employees needed to run franchised unit: 12 - 20 Absentee ownership of franchise is allowed. | |
Expansion Plans |
||
| WoodSpring Suites | Microtel Inns & Suites | |
| US Expansion | ||
| Canada Expansion | 0 | |
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| WoodSpring Suites | |
| Microtel Inns & Suites | |
| Franchise Fee | |
| WoodSpring Suites | |
| Microtel Inns & Suites | |
| Royalty Fee | |
| WoodSpring Suites | 5% |
| Microtel Inns & Suites | 6% |
| Advertising Fee | |
| WoodSpring Suites | 2.50% |
| Microtel Inns & Suites | 2% |
| Year Founded | |
| WoodSpring Suites | 2003 |
| Microtel Inns & Suites | 1987 |
| Year Franchised | |
| WoodSpring Suites | 2004 |
| Microtel Inns & Suites | 1988 |
| Term Of Agreement | |
| WoodSpring Suites | |
| Microtel Inns & Suites | 20 years |
| Renewal Fee | |
| WoodSpring Suites | |
| Microtel Inns & Suites | 50% of current franchise fee |
Business Experience Requirements |
|
| Experience | |
| WoodSpring Suites | |
| Microtel Inns & Suites | General business experience |
Financing Options |
|
| Franchise Fees | |
| WoodSpring Suites | |
| Microtel Inns & Suites | |
| Start-up Costs | |
| WoodSpring Suites | |
| Microtel Inns & Suites | |
| Equipment | |
| WoodSpring Suites} | |
| Microtel Inns & Suites | |
| Inventory | |
| WoodSpring Suites | |
| Microtel Inns & Suites | |
| Receivables | |
| WoodSpring Suites | |
| Microtel Inns & Suites | |
| Payroll | |
| WoodSpring Suites | |
| Microtel Inns & Suites | |
Training & Support |
|
| Training | |
| WoodSpring Suites | On-The-Job Training: Upon request Classroom Training: Varies |
| Microtel Inns & Suites | |
| Support | |
| WoodSpring Suites | Purchasing Co-ops Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations |
| Microtel Inns & Suites | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
| Marketing | |
| WoodSpring Suites | |
| Microtel Inns & Suites | Co-op advertising, Ad slicks, National media, Regional advertising |
| Operations | |
| WoodSpring Suites | |
| Microtel Inns & Suites | 30% of all franchisees own more than one unit Number of employees needed to run franchised unit: 12 - 20 Absentee ownership of franchise is allowed. |
Expansion Plans |
|
| US Expansion | |
| WoodSpring Suites | |
| Microtel Inns & Suites | |
| Canada Expansion | |
| WoodSpring Suites | |
| Microtel Inns & Suites | 0 |
| International Expansion | |
| WoodSpring Suites | |
| Microtel Inns & Suites | |