- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$2.9M - $3.5M
- Units as of 2018
-
20 25.0% over 3 years
Company Overview
About Affordable Suites of America
Industry | Lodging |
---|---|
Related Categories | Hotels & Motels |
Founded | 1998 |
Leadership | Tom Goodwin, CEO |
Corporate Address |
P.O. Box 50550 Myrtle Beach, SC 29579 |
Social | Facebook, Twitter |
Business Overview
Franchising Since | 1998 (26 years) |
---|---|
# of employees at HQ | 4 |
Where seeking |
This company is offering new franchises in the following US states: |
# of Units | 20 (as of 2018) |
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Affordable Suites of America franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
Initial Franchise Fee
|
$30,000 |
---|---|
Initial Investment
|
$2,872,000 - $3,545,000 |
Net Worth Requirement
|
$5,000,000 |
Cash Requirement
|
$1,000,000 |
Royalty Fee
|
5% |
Term of Agreement
|
20 years |
Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
Third Party Financing | Affordable Suites of America has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll |
---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
On-The-Job Training | 40 hours |
---|---|
Ongoing Support |
Newsletter
Meetings & Conventions
Grand Opening
Security & Safety Procedures
Field Operations
Site Selection
Proprietary Software
|
Marketing Support |
Ad Templates
Website Development
|
Operations
Additional details about running this franchise.
Is absentee ownership allowed? | Yes |
---|---|
Can this franchise be run from home/mobile unit?
|
No |
Can this franchise be run part time?
|
No |
# of employees required to run | 3 |
Are exclusive territories available?
|
Yes |
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