|
Below is an in-depth analysis and side-by-side comparison of Country Inns & Suites By Radisson vs WoodSpring Suites including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $1,916,178 - $9,472,795 | $5,035,000 - $7,031,000 |
Franchise Fee | $50,000 | $50,000 |
Royalty Fee | 5% | 5% |
Advertising Fee | 2.5% | 2.5% |
Year Founded | 1986 | 2003 |
Year Franchised | 1987 | 2004 |
Term Of Agreement | 15 years | - |
Term Of Agreement | 15 years | - |
Renewal 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 | Additional training available | On-The-Job Training: Upon request Classroom Training: Varies |
Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | Purchasing Co-ops Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations |
Marketing | Co-op advertising, Ad slicks, National media, Regional advertising | - |
Operations |
50% of all franchisees own more than one unit Number of employees needed to run franchised unit: 25 Absentee ownership of franchise is allowed. (50% of current franchisees are owner/operators) | - |
Expansion Plans |
||
US Expansion | - | - |
Canada Expansion | Yes | - |
International Expansion | Yes | - |
WoodSpring® is the fastest growing brand in the economy extended stay segment.