Trend Hotels and Suites by My Place is a hospitality brand offering extended stay amenities and upscale services. The franchise caters to business and leisure travelers with a mix of affordability and comfort.
Key Insights
- Trend Hotels and Suites by My Place began as a direct response to inefficiencies and limitations that existed in conventional service approaches, with founders committed to establishing superior alternatives that prioritize customer experience, operational excellence, and sustainable business growth through systematic improvement.
- 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 education efforts help consumers understand the value of professional versus amateur service providers, creating opportunities for qualified businesses to demonstrate expertise and build customer relationships through superior service quality and reliable performance.
Franchise Fee and Costs to Open
Exploring the financial picture of Trend Hotels and Suites by My Place 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 $272,500 - $2,947,000, along with a franchise fee of $45,000 - $45,000.
Financial Performance and Revenue
Training and Resources
Trend Hotels and Suites by My Place provides comprehensive initial training for new franchisees. This program offers a robust curriculum focused on operational excellence and brand standards. The initial training period is 4 weeks and is conducted at a designated training facility. Trend Hotels and Suites by My Place also offers ongoing support and resources to facilitate success.
Legal Considerations
Legal considerations for a Trend Hotels and Suites by My Place franchisee are outlined in the Franchise Disclosure Document (FDD) and the Franchise Agreement. Note that this franchise discloses lawsuits and/or bankruptcy information in its FDD, which may impact your evaluation. Subscribe now to access more details and be sure to consult a qualified attorney before proceeding.
Challenges and Risks
A franchisee may encounter considerations such as the presence of established local competitors impacting market penetration, the intricacies of managing day-to-day operations to maintain brand standards, or potential vulnerabilities within specific supply chains for amenities and services. Understanding these areas will be part of the operational journey.
Franchise Datasheet
FAQs
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