Kentucky Franchise Agreement for a Motel
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How to fill out Franchise Agreement For A Motel?
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FAQ
Another attraction of franchising is the economies of scale it offers leads to cost savings and more cost-effective increased brand recognition. These attractions have led to franchising being used in the hotel sector.
Hotel franchise fees are compensation paid by the franchisee to the franchisor for the use of the brand's name, logo, marketing, and referral and reservation systems. Franchise fees normally include an initial fee with the franchise application, plus ongoing fees paid periodically throughout the term of the agreement.
One of the main advantages of joining a hotel franchise is that you can leverage the brand name, reputation, and loyalty program of an established chain. This can help you attract more guests, increase your occupancy and revenue, and benefit from the marketing and distribution channels of the franchisor.
A hotel franchise is a fee-based agreement between a business owner, the franchisee, and a brand owner, the franchisor. The business owner ? the property owner or tenant ? can use the franchisor's brand name, intellectual property, reservation system and operational support tools in exchange for paying a franchise fee.
For more than 40 years, franchising has been the most popular method for obtaining a hotel affiliation without giving up ownership or operational control. In the United States, more than 70% of all hotels are chain affiliated and less than 30% are independent.
Paying the upfront franchise fee unlocks the door to the franchisors' proprietary business systems and more. You get the complete setup. The franchise fee is literally a license to own and operate the franchise business. That's why you must pay it.
The franchise fee is your ticket in the door ? it's what you're paying the franchisor in return for the use of their brand, trademarks, products and business model (all the things we covered in Chapter 1). It also typically includes initial training costs and those associated with location development.
A Franchise Agreement is an agreement between an owner of a hotel brand (Franchisor) and an owner of a hotel asset (Franchisee) which grants a Franchisee a licence to operate a hotel under the Franchisor's brand in exchange for fees.
As a franchisee, the key advantage of entering into a franchise agreement is the ability to operate a business under an established brand name. This provides you with a tried-and-tested business model, support from the franchisor, and access to ongoing training.
Facts & Figures Liquid capital required$1,000Investment$74,082,490 - $117,152,490Franchise fee$419,000Units in operation6,520Founded1957
