There’s a reason why hotel franchises are so popular. In this market, it’s hard to get customers if you’re operating under a trade name that doesn’t have a history of good service. If you become a franchisee, this won’t be a concern. You’ll be operating under the umbrella of an instantly recognisable brand with an already established customer base. As a result, you’ll be able to expect a strong return on your initial investment. Take a closer look at the franchise opportunities for sale, you won’t regret it.
Franchise opportunities allow you to capitalise on an industry where brand loyalty is so important. It’s far less of a personal financial risk to invest in a business where you’ll be given a proven model and guidelines to follow from the start. If you started an independent enterprise in the hotel sector, you’d inevitably find it very difficult to draw customers away from the most high profile names. And if you also take into account the already high statistical failure rate of non-franchise businesses, it’s obvious which way is more likely to lead to success.
To run a hotel efficiently, you’ll need a robust set of systems in place. This means a user-friendly central booking system, strong and effective marketing as well as all of the required licensing, certificates and insurance. It goes without saying that obtaining all of this without the support and resources of a large brand will be hard. While if you buy a franchise, you’ll get everything you need while remaining your own boss.
Before you reach out to a potential parent company, you need to ensure that you’ve looked through all the best hotel franchise opportunities available. The only way to do this is through in-depth research. Check out the profile and history of the brand you could be displaying above your door – does it have a good reputation? Are reviews for the hotels in their chain generally positive? The answers to these questions matter because there will be a direct correlation between the past success of your future franchisor and the number of customers you’re likely to get when you open for business.
After you’ve found the right franchise for sale, you’ll need to get in contact with the franchisor. They’ll ask you to attend an interview where they can perform an assessment. Previous experience in the hotel sector won’t be a prerequisite. But you’ll need to have at least some familiarity with leadership in a business setting and show a strong desire to fill in any gaps in your knowledge. If both you and the franchisor are happy to proceed following your face-to-face meeting, you’ll be able to discuss the initial funding requirements. If you’re willing to accept what’s being asked of you, you’ll be able to sign the agreement.
But before you do so, take the time to read the fine print. As a franchisee, it’s natural that you are expected to uphold the standards of the brand you’re joining as well as follow the business model in place that’s been proven to be successful. But you need to verify whether you’ll have the level of control necessary to innovate as you see fit. If there’s room for some flexibility in the contract, you should move forward.
Don’t forget, from the moment you sign, you’ll have the full support of your parent company. This will cover assistance during both the design and construction phases and they won’t disappear after you’ve opened either. You’ll be able to expect ongoing advice and answers to any questions you may have. They will just be a phone call or email away.
The consistent growth in this sector should be encouraging for any aspiring entrepreneur. Even a budget hotel franchise can succeed in the market if it offers its clientele the right level of comfort and convenience. In fact, franchises, in general, make up a large proportion of the businesses in the hotel industry. Franchisees have found it’s far easier to succeed with a recognisable brand with a pre-existing reputation at their back. It helps them attract customers from the very start of their new venture and, therefore, achieve profitability at a far faster rate. But what exactly are potential guests looking for in a hotel nowadays?
Friendly and approachable members of staff. Comprehensive services. An innovative layout. High standards of cleanliness. A reputation for excellence. These are just some of the factors that determine how attractive a given hotel is to an individual customer. In addition, some enterprises have found that setting up a loyalty programme and providing rewards, including discounts on future bookings, are an effective ways to retain the clients that stay at their establishments.
To conclude, the key to success in the hotel industry is clear – finding a franchise business for sale which has a high profile brand name attached to it.
It’s normal in the hotel sector for a new franchise to be incorporated into the overall brand’s website. This means that potential customers will be able to find you immediately online just by searching for your parent company’s name and the area that you’re located in. Further to this, you’ll be provided with an assortment of marketing materials in the form of both digital and physical media.
Investors are aware that even affordable hotel franchises present unique business opportunities that often lead to prosperity. Consequently, you can walk into a given bank confident in the plan that you’ll be presenting. The evidence will back you up. A new independent organisation is likely to fail, while a franchise has a solid foundation on which to build from. Investors will always go with the less risky choice – in this case, you.
As the owner of a hotel franchise, you’ll have to face a number of challenges. To prepare you for them, your franchisor will ask you to take part in an extensive training programme. This may be performed online or in a classroom environment.
Holiday Inn is a hotel chain that has thousands of establishments located across the globe. It is a subsidiary of InterContinental Hotels Group.
Customers come to Walfinch when an elderly relative requires hourly-care or live-in services.
Founded in 2009, Fantastic Services has grown from humble beginnings to become a highly regarded global enterprise with over 500 franchisees.