2023 Franchise 500 Rank
N/RNot ranked last year
manbetx2.0客户端下载
Initial investment
$5M - $7M
Units as of 2015
196

Company Overview

Value Place is an economy extended-stay hotel brand founded by Jack DeBoer in 2003. Prior to founding Value Place, DeBoer had been an apartment developer and then founded extended-stay hotel brands Residence Inn, Summerfield Suites and Candlewood Suites. He opened the first Value Place in Wichita, Kansas, offering studio suites with full kitchens and an onsite laundry room and allowing guests to pay by the week with a 24-hour checkout notice.

About WoodSpring Suites

Industry
Lodging
Related Categories
Hotels & Motels
Founded
2003
Parent Company
WoodSpring Suites LLC
Leadership
Bruce Haase, CEO
Corporate Address
8621 E. 21st St. N., #250
Wichita, KS 67206
Social
Facebook,Twitter

Business Overview

Franchising Since
2004(19 years)
# of employees at HQ
50
Where seeking

This company is offering new franchisees in the following US states:

# of Units
196(as of 2015)

Information for Franchisees

Here’s what you need to know if you’re interested in opening a WoodSpring Suites franchise.

Financial Requirements & Ongoing Fees

Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee
$50,000
Initial Investment
$5,035,000 - $7,031,000
Net Worth Requirement
$3,000,000 - $6,000,000
Cash Requirement
$1,000,000 - $3,000,000
Royalty Fee
5%
Ad Royalty Fee
2.5%
Term of Agreement
20 years
Is franchise term renewable?
Yes
Take Our Free Franchise Quiz!

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing
WoodSpring Suites has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

在职培训
Upon request
Classroom Training
Varies
Ongoing Support
Purchasing Co-ops
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Field Operations

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
Yes
Can this franchise be run from home/mobile unit?
No
Can this franchise be run part time?
No
# of employees required to run
4-5
Are exclusive territories available?
Yes
Take our quick quiz to find your ideal franchise

Interested in ownership opportunities like WoodSpring Suites? Request a free consultation with a Franchise Advisor now.

Franchise 500 Ranking History

Compare where WoodSpring Suites landed on this year’s Franchise 500 Ranking versus previous years.

Want to stay updated on the latest franchise news?

Never miss a beat when you sign up to receive our newsletter.

We care about the protection of your data. Read ourPrivacy Policy

Related Franchises

Are you eager to see what else is out there? Browse franchises that are similar to WoodSpring Suites.

Chem-Dry Carpet & Upholstery Cleaning

Carpet and upholstery cleaning, tile and stone care, granite countertop renewal

uBreakiFix

Electronics repairs

DoubleTree by Hilton

Upscale hotels and resorts

Related Franchise Content

Catch up on the latest franchise news, trends, and more.

5 Ways to Freshen Up Your Restaurant Franchise Marketing in 2023

Restaurant franchises can take advantage of technological advances that will transform bland marketing strategies into high value marketing campaigns that drive greater revenue.

Stephen Gould

Stephen Gould

Franchise Your Business in 7 Steps

A guide for becoming a successful new franchisor

Carol Tice

Carol Tice

Video: 3 Factors to Achieve Franchise Success

Scott Greenberg, author of 'The Wealthy Franchisee,' breaks down the three areas that successful business owners stay focused on.

Entrepreneur Staff

Entrepreneur Staff

Considering Becoming a Multi-Unit Franchise Operator of a New Brand? Here's What You Should Know First.

Here's what you need to know before making the decision to become a multi-unit operator for an emerging brand.

Alicia Miller

Alicia Miller

The 3 Strategies We Used to Open 24 New Real Estate Franchises in Just One Year

Whether in the real estate industry or an unrelated field, the formula is the same: Combine the right people in the right places with unparalleled support and resources.

Mauricio Umansky

Mauricio Umansky

“我的心都快碎了”:Internet Rallies Behind 72-Year-Old Delivery Driver Who Takes A Tumble In Viral Video

A horrifying video of a 72-year-old Domino's delivery woman falling at a customer's home has garnered attention — and donations.

Emily Rella

Emily Rella

Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company’s legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022