SUPER 8 Franchise Fee, Revenue, And Profit Margin
Do you know how much franchising a Super 8 cost? Super 8 is a quite popular hotel chain spread across the United States of America and Canada.
They have more than 2000 locations spread across these regions with the provision of extra-ordinary room service with special amenities like free internet, world-class bathrooms, satellite TV and then their top of the world services for kids; they don’t charge kids for lodging.
There service is superb and they derived their name from their special rate of $8.88 per night. Although this rate has increased over the years, Super 8 still shows so much commitment to the provision of low prices for most of their services. This is the main reason why a lot of entrepreneurs seek how much a Super 8 Franchise is?
THE SUPER 8 BUSINESS OPPORTUNITIES
Super 8 Motels offer free breakfast and coffee to their guests and as a value added service offered to their customers, every guest that purchases a “destination Super” coffee mug can bring the mug along to any Super 8 Motel, irrespective of whether they are a guest or not, to get a FREE REFILL.
Guests are also given the opportunities to earn The Wyndham Reward Points on whatever amount of money they spend at Super 8 Hotels, which they can redeem at every other hotel under the Wyndham umbrella and not only at Super 8 Motel locations.
THE SUPER 8 FRANCHISE OPPRTUNITIES
In the year 1974, the first Super 8 motel opened in South Dakota. The company was founded by business partners Ron Rivett and Dennis Brown. The business concept was an instant success as the company started Franchising just 2 years after it opened its first motel. That was in the year 1976.
The parent company to Super 8 is Wyndham Worldwide, which also has other hotel chains such as Howard Hohnson, Days Inn, Ramada and Travelodge under its umbrella.
DOES SUPER 8 STILL SELL FRANCHISE
Now that you have been acquainted with the superb services rendered by Super 8 Motels, you might want to enquire as an entrepreneur if they still offer franchise opportunities. Yes, Super 8 sells Franchise and it will be a very good decision to buy into their franchise as they are one of the hotel-chains with the most location across the world.
HOW MUCH IS A SUPER 8 FRANCHISE?
If you want to open a Motel franchise and will love to know the cost of a Super 8 Motel franchise, the total investments required for this is between $180,000 to $3,800,000. And you will be expected to make an Initial Franchise Fee of $25,000. This will give you access to the license to run your business with the Super 8 brand.
The company also requires that you have liquid assets of about $200,000.
You are also expected to make an annual Royalty Fee of 5.5% of the total gross revenue and the term of agreement is renewable after 20 years.
HOW TO OPEN A SUPER 8 FRANCHISE
There are some steps that you will need to take to open a Super 8 Franchise. The decision you made to open a Super 8 Motel is just the beginning of the entire long process you will need to take before you can be a proud owner of a Super 8 Motel. These are the guidelines that will help you to own a Super 8 Motel Franchise.
- LOCATION: You will need to be extra cautious in choosing the best location for your Super 8 Motel. You have to watch out for competition around you, access to highways and areas that can support lodging businesses.
- VISIT THE WYNDHAM HOTEL GROUP WEBSITE: The Wyndham Hotel Group is the largest motel franchiser in the world and they are the owners of the Super 8 Motel Franchise. On their website, visit the CONTACT US section. You will be expected to fill out the questionnaire on the page and a contact from the the company will get in touch with you within 48 hours to help you with the process and procedures of becoming a Super 8 Motel Franchisee.
- LEASE AND RENTAGE; After your Super 8 Franchise application has been approved, the next step to take is to get the lease for a good location or make an outright purchase, depending on your financial capacity.
FINANCING OPTIONS FOR SUPER 8 FRANCHISEES
If you have been fully approved to operate with the Super 8 name and you will need extra financing for your project, the company offers in-house financing that covers the following: franchise fee and startup costs. Super 8 also has cordial relationships with 3rd party firms that can offer financing to cover for your financial need to startup and run your Super 8 Motel.
If you will be need financial assistance from the Company, it is well advisable to start the process early as it can sometimes take months before your request is approved. And also ensure that all your licenses and documents are duly signed by the appropriate authorities.
With the information provided in the article, we believe you are now empowered with everything you need to know about how to get a Super 8 Motel Franchise.