Basics of a Holiday Inn Express Franchise
If you’re thinking about buying a Holiday Inn Express franchise, there are many things to consider before signing on the dotted line. Becoming a Holiday Inn Express franchisee is not a guarantee of success, but rather a blueprint that can assist you in achieving success. Given the correct market conditions, skills and dedication, being a Holiday Inn Express franchisee might be financially rewarding.
Owning a Holiday Inn Express franchise is a serious commitment and works best when you make a thoughtful, educated decision.
- Just because you love Holiday Inn Express’s products or services doesn’t mean that you will be able to successfully operate a Holiday Inn Express franchise.
- Being emotionally attached to the idea of becoming a Holiday Inn Express franchisee is not a state of mind in which you can effectively evaluate an opportunity.
- Your positive experience as a customer of Holiday Inn Express should not form the basis for deciding to become a franchisee.
As an example, just because you love Big Macs doesn’t mean that you should become a McDonald’s franchisee.
Are you looking for some free resources to help you determine if a Holiday Inn Express franchise is for you?
Holiday Inn Express Due Diligence
You must conduct smart due diligence and determine from a business perspective whether owning a Holiday Inn Express franchise is right for you.
If you truly want own a Holiday Inn Express franchise, get all the information you can from Holiday Inn Express and secure a qualified advisor who has experience helping people like you purchase franchises.
You may also want find that gaining a better understanding of the terms related to franchising would be helpful. If so, you may want to visit A Glossary of Franchise Terms.
Make sure that owning a Holiday Inn Express franchise fits in with both your skills and life style objectives. If you don’t want to work evening and weekends, don’t purchase an ice cream shop. If you’re an introvert, don’t buy a franchisee that requires you to be extroverted.
Are you interested in more questions to ask Holiday Inn Express franchisor, Holiday Inn Express franchisee, or even yourself? Get to know the terms.
Holiday Inn Express Franchise Disclosure Document
Carefully read the Holiday Inn Express Franchise DisclosureDocument (Also known as an FDD). They can be intimidating.
As you are reviewing Holiday Inn Express’s Franchise Disclosure Document you will have a number of calls with Holiday Inn Express’s franchise team before you will be allowed to call Holiday Inn Express franchisees.
When you are allowed to call Holiday Inn Express franchisees make sure you speak to at least five to eight franchisees. You will find that most Holiday Inn Express franchisees will be honest and unbiased about Holiday Inn Express. If you would like more information on how to dissect a Holiday Inn Express FDD consider the following resources:
Does a Holiday Inn Express Franchise Make Money?
A critical part of your due diligence is to build an estimated P&L (profit and loss statement) and see what the numbers might look like if you become a Holiday Inn Express franchisee. Reading Chapter 13 of The Educated Franchise teaches you the secrets of this key step.
The decision making tools in Chapter 15 of The Educated Franchise and in Step 13 of The Franchisee Workbook shows you how to honestly evaluate whether or not buying a Holiday Inn Express franchise is the right move for you.
If you’re serious about becoming a Holiday Inn Express all franchisee and want to explore owning a Holiday Inn Express franchise, take the best first step you can and grab your copy of The Educated Franchise today!