|
Below is an in-depth analysis and side-by-side comparison of Hawthorn Suites vs Home2 Suites including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $225,693 - $12,785,326 | $9,102,300 - $17,456,500 |
Franchise Fee | $40,000 - $44,500 | $75,000 |
Royalty Fee | 5.5% | 5% |
Advertising Fee | 2.5% | 3.5% |
Year Founded | 1986 | 2008 |
Year Franchised | 1986 | 2009 |
Term Of Agreement | 20 years | 22 years |
Term Of Agreement | 20 years | 22 years |
Renewal Fee | 50% of current franchise fee | Same as initial fee |
Business Experience Requirements |
||
Experience | - | - |
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | -/Yes |
Start-up Costs | No/No | -/Yes |
Equipment | No/No | -/Yes |
Inventory | No/No | -/Yes |
Receivables | No/No | -/Yes |
Payroll | No/No | -/Yes |
Training & Support |
||
Training | Available at headquarters, Available at franchisee's location, At regional location | On-The-Job Training: 1 hour Classroom Training: Varies |
Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Proprietary Software Franchisee Intranet Platform |
Marketing | Co-op advertising, Ad slicks, National media | Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
Operations |
20% of all franchisees own more than one unit Number of employees needed to run franchised unit: 20 - 30
Absentee ownership of franchise is allowed. | Number of Employees Required to Run: 30 |
Expansion Plans |
||
US Expansion | - | Yes |
Canada Expansion | No | Yes |
International Expansion | Yes | No |