- 2023 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.
About Park Inn by Radisson
|Franchising Since||1993 (30 years)|
|# of employees at HQ||700|
This company is offering new franchisees throughout the US.
This company is offering new franchisees 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
|$2,662,774 - $15,317,727|
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
Term of Agreement
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
|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.
|Classroom Training||47-65 hours|
Meetings & Conventions
Security & Safety Procedures
Franchisee Intranet Platform
Additional details about running this franchise.
|Is absentee ownership allowed?||No|
Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Franchise 500 Ranking History
Compare where Park Inn by Radisson landed on this year's Franchise 500 Ranking versus previous years.
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