Start-Up Costs and Fees |
||
| Microtel Inns & Suites | GrandStay Residential Suites | |
| Investment | 5709119 - 6799356 | 117900 - 10090200 |
| Franchise Fee | ||
| Royalty Fee | 6% | 5% |
| Advertising Fee | 2% | 2% |
| Year Founded | 1987 | 2000 |
| Year Franchised | 1988 | 2000 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| Microtel Inns & Suites | GrandStay Residential Suites | |
| Experience | General business experience | |
Financing Options |
||
| Microtel Inns & Suites | GrandStay Residential Suites | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| Microtel Inns & Suites | GrandStay Residential Suites | |
| Training | ||
| Support | 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 |
||
| Microtel Inns & Suites | GrandStay Residential Suites | |
| 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 | 0 | |
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| Microtel Inns & Suites | |
| GrandStay Residential Suites | |
| Franchise Fee | |
| Microtel Inns & Suites | |
| GrandStay Residential Suites | |
| Royalty Fee | |
| Microtel Inns & Suites | 6% |
| GrandStay Residential Suites | 5% |
| Advertising Fee | |
| Microtel Inns & Suites | 2% |
| GrandStay Residential Suites | 2% |
| Year Founded | |
| Microtel Inns & Suites | 1987 |
| GrandStay Residential Suites | 2000 |
| Year Franchised | |
| Microtel Inns & Suites | 1988 |
| GrandStay Residential Suites | 2000 |
| Term Of Agreement | |
| Microtel Inns & Suites | 20 years |
| GrandStay Residential Suites | |
| Renewal Fee | |
| Microtel Inns & Suites | 50% of current franchise fee |
| GrandStay Residential Suites | |
Business Experience Requirements |
|
| Experience | |
| Microtel Inns & Suites | General business experience |
| GrandStay Residential Suites | |
Financing Options |
|
| Franchise Fees | |
| Microtel Inns & Suites | No |
| GrandStay Residential Suites | No |
| Start-up Costs | |
| Microtel Inns & Suites | |
| GrandStay Residential Suites | |
| Equipment | |
| Microtel Inns & Suites} | |
| GrandStay Residential Suites | |
| Inventory | |
| Microtel Inns & Suites | |
| GrandStay Residential Suites | |
| Receivables | |
| Microtel Inns & Suites | |
| GrandStay Residential Suites | |
| Payroll | |
| Microtel Inns & Suites | |
| GrandStay Residential Suites | |
Training & Support |
|
| Training | |
| Microtel Inns & Suites | |
| GrandStay Residential Suites | |
| Support | |
| Microtel Inns & Suites | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
| GrandStay Residential Suites | |
| Marketing | |
| Microtel Inns & Suites | Co-op advertising, Ad slicks, National media, Regional advertising |
| GrandStay Residential Suites | |
| Operations | |
| 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. |
| GrandStay Residential Suites | |
Expansion Plans |
|
| US Expansion | |
| Microtel Inns & Suites | |
| GrandStay Residential Suites | 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 | |
| Microtel Inns & Suites | 0 |
| GrandStay Residential Suites | |
| International Expansion | |
| Microtel Inns & Suites | |
| GrandStay Residential Suites | |