| ||||
Updated RecentlyStudio 6 vs WoodSpring Suites Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Studio 6 vs WoodSpring Suites including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $206,850 - $9,621,350 | $5,035,000 - $7,031,000 |
| Franchise Fee | $20,000 - $30,000 | $50,000 |
| Royalty Fee | 5% | 5% |
| Advertising Fee | 2% | 2.5% |
| Year Founded | 1998 | 2003 |
| Year Franchised | 1999 | 2004 |
| Term Of Agreement | 10-15 years | - |
| Term Of Agreement | 10-15 years | - |
| Renewal Fee | 50% of current franchise fee | - |
Business Experience Requirements |
||
| Experience | - | |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | -/Yes |
| Start-up Costs | No/Yes | -/Yes |
| Equipment | No/Yes | -/Yes |
| Inventory | No/Yes | -/Yes |
| Receivables | No/No | -/Yes |
| Payroll | No/No | -/Yes |
Training & Support |
||
| Training | On-The-Job Training: 25-30 hours Classroom Training: 40 hours Additional Training: Annual convention | On-The-Job Training: Upon request Classroom Training: Varies |
| Support | Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Proprietary Software Franchisee Intranet Platform | Purchasing Co-ops Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations |
| Marketing | Co-op Advertising Ad Templates National Media Social media SEO Website development Email marketing Loyalty program/app | - |
| Operations | Absentee Ownership Allowed | - |
Expansion Plans |
||
| US Expansion | - | - |
| Canada Expansion | No | - |
| International Expansion | Yes | - |
Company Overviews
About Studio 6
Extend Your Stay, Not Your Budget
Studio 6 taps into the national recognition of Motel 6, while having developed a following all its own.
Studio 6 properties feature fully furnished studios with low weekly rates and amenities for comfortable, restful extended stays. The properties are easy to operate and manage with favorable weekly pricing. Invest in one of the segment's fastest growing brands.
Motel 6 introduced Studio 6 in 1998 as an extended-stay option for travelers.
Franchising since 1999, Studio 6 offers furnished studio rooms, complete with work areas and fully furnished kitchens. The company is based in Dallas.
Franchise opportunities are available for:
Seasoned quality-oriented developers or operators, and; Those new to the lodging industry.
Franchisee Benefits:
* Complete prototype design
* Architectural, construction and renovation support
* Powerful marketing support and national advertising
* Competitive franchise and royalty fees
* Protected market territories
* Personalized operational support
* Initial training at our corporate headquarters
* Ongoing training on the field and online
* Adherence to fair franchising initiatives
* One-stop shopping for all purchasing needs
Seeking new franchise units throughout the U.S.,
Asia, Canada, Central America, Mexico and South America
Veteran Incentives $1,500 general-manager training fee waived
!["franchiserankingscom"]("https://d3t9r0kmeshe93.cloudfront.net/settings/71116cc7-281b-43ed-8275-5087635f96d8.png")
!["Entrepreneur]("https://d3fg11dgb68kbp.cloudfront.net/assets/photos/franchise-badge-22686037fc120ba1bd59c2c9fd6e0fbf.png"){kind=icon}
About WoodSpring Suites
WoodSpring® is the fastest growing brand in the economy extended stay segment.
- Cost-effective prototype, designed to be built in less than 12 months
- Proven, lean operating model that enables maximum efficiency for owners
- Proprietary vendor relationships and hands-on support enable expedited openings
- Dedicated, extended stay national sales team