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Below is an in-depth analysis and side-by-side comparison of WoodSpring Suites including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $5,035,000 - $7,031,000 | |
Franchise Fee | $50,000 | |
Royalty Fee | 5% | |
Advertising Fee | 2.5% | |
Year Founded | 2003 | |
Year Franchised | 2004 | |
Term Of Agreement | - | |
Term Of Agreement | - | |
Renewal Fee | - | |
Business Experience Requirements |
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Experience | - | |
Financing Options |
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In-House/3rd Party | ||
Franchise Fees | -/Yes | |
Start-up Costs | -/Yes | |
Equipment | -/Yes | |
Inventory | -/Yes | |
Receivables | -/Yes | |
Payroll | -/Yes | |
Training & Support |
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Training | On-The-Job Training: Upon request Classroom Training: Varies | |
Support | Purchasing Co-ops Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations | |
Marketing | - | |
Operations | - | |
Expansion Plans |
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US Expansion | - | |
Canada Expansion | - | |
International Expansion | - |
WoodSpring® is the fastest growing brand in the economy extended stay segment.