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Below is an in-depth analysis and side-by-side comparison of Microtel Inns & Suites vs Residence Inn including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $5,709,119 - $6,799,356 | N/A |
Franchise Fee | $43,000 | N/A |
Royalty Fee | 6% | - |
Advertising Fee | 2% | - |
Year Founded | 1987 | - |
Year Franchised | 1988 | - |
Term Of Agreement | 20 years | - |
Term Of Agreement | 20 years | - |
Renewal Fee | 50% of current franchise fee | - |
Business Experience Requirements |
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Experience | - | |
Financing Options |
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In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/Yes | -/- |
Start-up Costs | No/No | -/- |
Equipment | No/Yes | -/- |
Inventory | No/Yes | -/- |
Receivables | No/Yes | -/- |
Payroll | No/Yes | -/- |
Training & Support |
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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 |
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US Expansion | - | - |
Canada Expansion | No | - |
International Expansion | Yes | - |
Designed as "home away from home" for travelers staying 5 or more nights - Residential atmosphere with spacious accommodations Features include: - Complimentary hot breakfast - Evening hospitality hour - Swimming pool - Sport Court - Personalized grocery shopping - Daily housekeeping - Guest suites with separate living and sleeping areas - Fully equipped kitchen - Work space with data ports and voicemail