- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$2.7M - $15.3M
- Units as of 2021
-
142 7% over 3 years
The Radisson Hotel Group includes various well-known, reputable hotel brands that cater to a wide range of clients. The Park Inn by Radisson chain started life in 1986. It now belongs to the internationally known Radisson Hotel Group. The original Radisson hotel was in downtown Minneapolis, and the group still has its headquarters in Minnesota, from where it continues to expand from its origins in 1938.
A Park Inn by Radisson franchise may offer affordable, comfortable, and attractive accommodation in convenient locations. You can find a Park Inn by Radisson in Moscow, Russia, or Williamsburg, Virginia. The Park Inn by Radisson brand is recognized worldwide - Radisson operates in over 120 countries and is seeking to become a stronger competitor in the United States market.
Why You May Want To Start a Park Inn by Radisson Franchise
Franchisees work closely with Radisson and must share Radisson's commitment to customer satisfaction. Franchisees are required to have an elegant, proactive approach to the hotel business and dedication to the values that Radisson upholds.
The group's relationship with its franchisees is governed by trust, responsibility, and accountability. The Radisson Hotel Group has a mentality based on team effort, so franchisees must be team players with highly developed people skills. The relationship between Park Inn by Radisson and its franchisees is highly dynamic. Many Radisson hotel franchisees have more than one hotel in the group. Multiple franchise locations illustrate that Radisson is dedicated to creating opportunities for growth for its team members.
What Might Make a Park Inn by Radisson Franchise a Good Choice?
The hotel business is competitive, and a recognized brand must live up to the standards that the chain and the clients expect. Radisson spends a lot of time and effort ensuring that all of its hotels meet the demanded requirements. The Park Inn by Radisson brand strives to consist of modern, attractively decorated hotels that offer the guests a warm, stress-free, vibrant atmosphere at an affordable price. Guests enjoy a wide range of facilities that help make their stay more comfortable.
To be part of the Park Inn by Radisson franchise team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising and royalty fees.
How To Open a Park Inn by Radisson Franchise
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Park Inn by Radisson franchising team questions.
As you decide if opening a Park Inn by Radisson franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Park Inn by Radisson franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Company Overview
About Park Inn by Radisson
Business Overview
Franchising Since | 1993 (31 years) |
---|---|
# of employees at HQ | 700 |
Where seeking |
This company is offering new franchises throughout the US. This company is offering new franchises in the following international regions: Central America, Canada, South America, Mexico |
# of Units | 142 (as of 2021) |
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Park Inn by Radisson 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
|
$35,000 |
---|---|
Initial Investment
|
$2,662,774 - $15,317,727 |
Royalty Fee
|
4.5% |
Ad Royalty Fee
|
2% |
Term of Agreement
|
20 years |
Is franchise term renewable? | No |
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 | Varies |
---|---|
Classroom Training | 47-65 hours |
Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Proprietary Software
Franchisee Intranet Platform
|
Marketing Support |
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App
|
Operations
Additional details about running this franchise.
Is absentee ownership allowed? | No |
---|---|
Can this franchise be run from home/mobile unit?
|
No |
Can this franchise be run part time?
|
No |
Are exclusive territories available?
|
No |
Sign Up for Our Franchise Newsletter
Stay up to date on the latest news and trends affecting the franchise industry.
Related Franchises
Are you eager to see what else is out there? Browse franchises that are similar to Park Inn by Radisson.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
Are Franchises in the Clear After the Expanded Joint Employer Rule Was Struck Down? Industry Experts Answer 2 Critical Questions About What's Next.
Despite franchise industry successes in Congress and federal court, the expanded Joint Employer Rule is not completely dead. The IFA will outline its current status in a webinar on April 23.
'Fueled by a Hunger For New Challenges' — The 5 Types of Entrepreneurs You Want as Franchisees
Franchising is well known as a pathway to entrepreneurial success, offering individuals the opportunity to build their own business under the umbrella of an established brand.
I Built a $1 Million Business While Overcoming a Disability — Here's How I Did It
When facing struggles and setbacks, dream big, embrace your true self, and disregard any limits others impose on you. Ultimately, what truly counts is the effort you put into achieving your goals.
The Franchise Industry is on The Verge of Massive Change With Private Equity's Potential $8 Billion Acquisition of Jersey Mike's
Two iconic brands, Subway and Jersey Mike's, may sell to private equity after years of being closely held. Heavyweight PE firms are an increasing force within the franchising sector, marking a strategic shift and altering the industry landscape.
3 Ways to Get on The Road to Franchising — And How to Find the Right Business For You
Although franchising contributes significantly to the US economy, most US business schools lack dedicated franchising curriculums. These three sources will help you get started and find out which franchise is right for you.
Looking for a Spotless Investment Opportunity? Discover the Best Cleaning Franchises to Own in 2024.
From sparkling floors to polished windows, clean your way to success with the best cleaning franchises, according to the 2024 Franchise 500 Ranking.