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- 2022 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$33K - $161K
- Units as of 2022
25 150.0% over 3 years
Here’s what you need to know if you’re interested in opening a Grand Welcome franchise.
Grand Welcome is a vacation rental management company that has striven to build its reputation by combining quality, cleanliness, and convenience. The brand offers its guests the chance to experience each of their destinations through its full-service property management services.
Grand Welcome began with a few condominiums in 2009 in California. The company was founded by Brandon Ezra. He began to franchise the concept in 2019 after developing user-friendly and industry-leading systems. It has opened several franchises since beginning to franchise. The goal of Grand Welcome is to reshape the vacation rental industry.
Why You May Want To Start a Grand Welcome Franchise
No experience is necessary, as Grand Welcome offers its franchisees an intensive training program that will teach them how to improve product offerings and locate vacation homes. Suppose you consider becoming a Grand Welcome franchisee. In that case, you should be a passionate entrepreneur, property management agent, real estate professional, or have even simply stayed at a vacation property. Being a travel enthusiast is a must, as well. Franchisees must also have exceptional sales and marketing, networking, and customer service skills.
Opening a Grand Welcome franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.
What Might Make a Grand Welcome Franchise a Good Choice?
Grand Welcome relies on powerful cloud-based and customized technology, using targeted marketing to lead its services. The use of technology may provide clients with personalized and high-quality accommodations. As a franchisee, you should be ready to either make a full-time commitment and manage the business's daily operations or hire someone that can do it for you.
To be part of the Grand Welcome 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, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
How To Open a Grand Welcome Franchise
Grand Welcome will provide comprehensive training and support to new owners before, during, and after opening the franchises. A typical franchise agreement runs for ten years. Franchisees may be allowed to renew their contract if they meet the Grand Welcome requirements.
As you decide if opening a Grand Welcome 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 Grand Welcome franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
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 Grand Welcome franchising team questions.
About Grand Welcome
- Franchising Since
- 2019 (3 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
- # of Units
- 25 (as of 2022)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Grand Welcome 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
- $15,000 - $105,000
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.
- Initial Investment
- $33,400 - $161,250
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.
- Net Worth Requirement
- $50,000 - $150,000
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
- $25,000 - $65,000
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- 15% off first-unit franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
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
- 10 years
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?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Grand Welcome has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs
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
- 39 hours
- Classroom Training
- 40 hours
- Additional Training
- Additional training
- Ongoing Support
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- 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.
- # of employees required to run
- 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.
Interested in franchise ownership like Grand Welcome? Request a free consultation with a Franchise Advisor now.
Curious to know where Grand Welcome ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to Grand Welcome.
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