StayApt Suites is an extended-stay hotel brand providing temporary housing on a weekly or monthly basis. The franchise supports single and multi-unit development for hotels delivering comfortable accommodations and essential services.
Key Insights
- StayApt Suites began with a strategic focus on creating sustainable business practices that benefit all stakeholders, including customers, franchisees, and communities, while establishing systems that support long-term growth and operational excellence across multiple markets.
- Local partnership development provides guests with authentic experiences and knowledgeable recommendations for area attractions, dining, and activities, enhancing the overall visit while supporting community businesses and creating connections that enrich the travel experience.
- Market consolidation trends benefit established brands with proven systems and operational expertise, creating opportunities for growth and expansion while rewarding businesses that have demonstrated consistent quality and customer satisfaction over time.
Franchise Fee and Costs to Open
Exploring the financial picture of StayApt Suites gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $7,529,900 - $12,904,400, along with a franchise fee of $40,000 - $40,000.
Financial Performance and Revenue
Training and Resources
StayApt Suites provides comprehensive training for new franchisees. This initial program offers seven days of in-person instruction at their corporate headquarters. StayApt Suites also offers ongoing resources to support franchise operations.
Legal Considerations
Legal considerations for a StayApt Suites franchisee are defined by the Franchise Disclosure Document (FDD) and the Franchise Agreement. This franchise does not disclose lawsuits or bankruptcy information in its FDD, but prospective franchisees should still review all terms thoroughly. Consultation with a qualified attorney is essential before making commitments.
Challenges and Risks
A franchisee may encounter challenges in adapting to local market dynamics, understanding nuanced guest preferences, and navigating the operational intricacies of extended-stay hospitality. Securing reliable and consistent suppliers for amenities and services is a further consideration. Effectively managing staff and maintaining service standards across diverse locations requires diligent oversight.
Franchise Datasheet
FAQs
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