Basics of a TownePlace Suites of Marriott Franchise
If you’re thinking about buying a TownePlace Suites of Marriott franchise, there are many things to consider before signing on the dotted line. Becoming a TownePlace Suites of Marriott 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 TownePlace Suites of Marriott franchisee might be financially rewarding.
Owning a TownePlace Suites of Marriott franchise is a serious commitment and works best when you make a thoughtful, educated decision.
- Just because you love TownePlace Suites of Marriott’s products or services doesn’t mean that you will be able to successfully operate a TownePlace Suites of Marriott franchise.
- Being emotionally attached to the idea of becoming a TownePlace Suites of Marriott franchisee is not a state of mind in which you can effectively evaluate an opportunity.
- Your positive experience as a customer of TownePlace Suites of Marriott 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 TownePlace Suites of Marriott franchise is for you?
TownePlace Suites of Marriott Due Diligence
You must conduct smart due diligence and determine from a business perspective whether owning a TownePlace Suites of Marriott franchise is right for you.
If you truly want own a TownePlace Suites of Marriott franchise, get all the information you can from TownePlace Suites of Marriott 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 TownePlace Suites of Marriott 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 TownePlace Suites of Marriott franchisor, TownePlace Suites of Marriott franchisee, or even yourself? Get to know the terms.
TownePlace Suites of Marriott Franchise Disclosure Document
Carefully read the TownePlace Suites of Marriott Franchise DisclosureDocument (Also known as an FDD). They can be intimidating.
As you are reviewing TownePlace Suites of Marriott’s Franchise Disclosure Document you will have a number of calls with TownePlace Suites of Marriott’s franchise team before you will be allowed to call TownePlace Suites of Marriott franchisees.
When you are allowed to call TownePlace Suites of Marriott franchisees make sure you speak to at least five to eight franchisees. You will find that most TownePlace Suites of Marriott franchisees will be honest and unbiased about TownePlace Suites of Marriott. If you would like more information on how to dissect a TownePlace Suites of Marriott FDD consider the following resources:
- The Educated Franchisee Chapter 8 – ' Dissecting the Franchise Disclosure Document' - Click Here
- The FDD Exchange - Franchise Disclosure Document Checklist' - Click Here
- PodCast with Franchise Attorney Nancy Lanard – 'What to look for in a Franchise Disclosure Document' - Click Here
Does a TownePlace Suites of Marriott 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 TownePlace Suites of Marriott 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 TownePlace Suites of Marriott franchise is the right move for you.
If you’re serious about becoming a TownePlace Suites of Marriott all franchisee and want to explore owning a TownePlace Suites of Marriott franchise, take the best first step you can and grab your copy of The Educated Franchise today!