28 Aug, 2017

Super 8 Franchise

Having been established in 1974, Super 8 Motels began franchising just two years later. They have about 2,000 motels spread across Canada and USA. This growth is currently being taken to other parts of the world. The following are considerations you need to make before buying a Super 8 Franchise.

1. You will be required to fill out a contact questionnaire from the Super 8 web site. In this form you give information about yourself that the franchisor would like to have at the onset. Wyndham Hotel Group who own Super 8 will contact you within 48 hours to discuss more about the franchise purchase. They will only contact you if you impress them with the information in this form. You will have the chance to ask any questions you may have.

2. For you to buy a Super 8 franchise the franchisor requires you to have general business exposure and agree to commit to the deal for a period of 20 years. The investment in the hotel industry is long term and the returns cannot be expected in the short run.

3. The investment you need to make is huge ranging from $285,000 to $2,800,000. This cost does not include the 5% of all royalties you pay to Wyndham Hotel Group.

4. You can apply for a loan from the SBA if you do not have access to this kind of money. The SBA reports a very good repayment rate of all the loans that have been issued for Super 8 franchises. A total of 253% have been issued with only 1.58% failing to be repaid.

5. You need to hire 38 people as your initial workforce. You need not be physically present to run your motel franchise. You can hire a manager to run it on your behalf.

6. The Wyndham Hotel Group will give you training on the running of your franchise. The training will take five days at the franchisor’s headquarters and two more days at your franchise location. Thereafter you will attend regional workshops designed by the franchisor for one to three days.

7. The franchisor will give you ongoing support. This support will include providing information through newsletters; you will have a free telephone line to use whenever you need to call for help. You will also enjoy group purchases with other franchisees; help you organize a grand opening and get operational reviews from the groups officials so you can tale corrective measures before they affect your business.

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