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Value Place

2014 Franchise 500
#268
At a Glance

Products & Services: Economy extended-stay lodging

Number of Locations: 184

Total Investment: $3.8M - $5M

Founded: 2003

Began Franchising: 2004

About Value Place

Prior to founding Value Place, Jack DeBoer had been an apartment developer and then founded extended-stay hotel brands Residence Inn, Summerfield Suites and Candlewood Suites. He opened the first Value Place in Wichita, Kansas, in 2003, offering studio suites with full kitchens and an onsite laundry room and allowing guests to pay by the week with a 24-hour checkout notice.

Franchise Units

Year U.S. Canadian International Company Owned
2013 132 0 0 52
2012 135 0 0 44
2011 132 0 0 43
2010 128 0 0 43
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S.

Startup Costs, Ongoing Fees and Financing

Total Investment: $3,801,400 - $5,032,000
Franchise Fee: $49,600
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 20 years, renewable
Financial Requirements
Net Worth: $1,500,000
Liquid Cash Available: $300,000
Operations
73% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 4 - 5. Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators).
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: Varies. At franchisee's location: Upon request.
Ongoing Support: Meetings, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives
Other marketing support: Promotional items

Franchise Ranking History

Franchise 500®: #268 (2014), #210 (2013), #493 (2012), #396 (2011), #443 (2010),
Fastest-Growing: #54 (2010),

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