Basics of a La Quinta Inns Franchise
If you’re thinking about buying a La Quinta Inns franchise, there are many things to consider before signing on the dotted line. Becoming a La Quinta Inns 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 La Quinta Inns franchisee might be financially rewarding.
Owning a La Quinta Inns franchise is a serious commitment and works best when you make a thoughtful, educated decision.
- Just because you love La Quinta Inns’s products or services doesn’t mean that you will be able to successfully operate a La Quinta Inns franchise.
- Being emotionally attached to the idea of becoming a La Quinta Inns franchisee is not a state of mind in which you can effectively evaluate an opportunity.
- Your positive experience as a customer of La Quinta Inns 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 La Quinta Inns franchise is for you?
La Quinta Inns Due Diligence
You must conduct smart due diligence and determine from a business perspective whether owning a La Quinta Inns franchise is right for you.
If you truly want own a La Quinta Inns franchise, get all the information you can from La Quinta Inns 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 La Quinta Inns 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 La Quinta Inns franchisor, La Quinta Inns franchisee, or even yourself? Get to know the terms.
La Quinta Inns Franchise Disclosure Document
Carefully read the La Quinta Inns Franchise DisclosureDocument (Also known as an FDD). They can be intimidating.
As you are reviewing La Quinta Inns’s Franchise Disclosure Document you will have a number of calls with La Quinta Inns’s franchise team before you will be allowed to call La Quinta Inns franchisees.
When you are allowed to call La Quinta Inns franchisees make sure you speak to at least five to eight franchisees. You will find that most La Quinta Inns franchisees will be honest and unbiased about La Quinta Inns. If you would like more information on how to dissect a La Quinta Inns FDD consider the following resources:
Does a La Quinta Inns 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 La Quinta Inns 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 La Quinta Inns franchise is the right move for you.
If you’re serious about becoming a La Quinta Inns all franchisee and want to explore owning a La Quinta Inns franchise, take the best first step you can and grab your copy of The Educated Franchise today!