Choice hotels are the leader among hotel franchisors and to their name they have 6,000 locations in the United States and more than 40 in other countries. Choice Hotels Europe operates the out-of-the-country sites which are in Europe. Steward Bainum and his family members control 50% of the company’s stocks.
For their franchisees, they provide field assistance through Brand Performance Consultants and helps the property owner acquire all they need for their lot so that it will meet the brand requirements and meet hotel performance.
The development steps that will follow are a step-by-step procedure that will prepare the new franchisee to open up the franchise. It starts with an interviewing process with Choice where your questions will be addressed as well as your reason for interest in the Choice brand. Next, they’ll ask you to provide them with a market study on the area. The market study will help them determine if it is really viable to put up a hotel on your property. What follows next is a site analysis. The site analysis will determine the demographics of your location, population density and proper building layout for the sight.
Once completed, if desired, they will assist you with third party lenders to help with your financing plan and make the necessary recommendations. After the approval of your financing plan, they will prepare the blueprints of your hotel, construction from start to finish and assist you with interior design of the lobby, cafes and rooms. Pre-opening services are also provided by the hotel. Initially, they will train your staff so that everything will be in accordance with Choice international standards. They will even help you market your hotel and do the necessary public relations that best suit your area.
The application form for franchise is available in their home website. All you have to do is get it printed and fax it back to them. They will contact you to begin talks on your plans to join the business. Additional information is also available online.
Total investment can range from $4 mil to $10 mil; Initial Franchise Fee varies from $25000.00 to $60000.00. The Royalty Fee also varies, from 3.5% to 5.3% with a renewable term of agreement of 20 years.
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Source by Thomas E White