Value Place Franchise Information
Value Place is a franchise for an extended stay hotel. It was founded in 2003 and started franchising in 2004. It was founded by Jack DeBoer.
He is the one who started the industry of extended stay hotels and also the founder of Summerfield Suites, Residence Inn, and Candlewood Suites. The first Value Place was opened in Wichita, Kansas in October of 2003.
In an industry filled with upscale and mid-priced hotel options for big business and travellers, there was a void for a product that would cater to those needing a more affordable option for small businesses and those who are on the move in their own communities. They launched their franchising option it 2004 and celebrated the opening of their 100th location in Columbus, Georgia in July of 2008. In just a year, they opened 51 more locations. This hotel operated on a weekly rate basis in which each property has about 124 rooms.
What do they say makes them different from others?
They promise to offer affordable, cleaner, safer, simple, and flexible options for their guests. For the guest’s safety, they have ID scans which means checking the guest’s name against Family Watchdog database, they do background checks on their staffs and has a zero-tolerance policy, and they don’t have exterior door rooms and has electronically locked doors which needs key cards to pass open even at the laundry room. That is besides the eight CCTV cameras they have all over the hotel.
What are the amenities and services offered at the Value Place?
They say that they offer apartment furnishing without the hotel prices. They have kitchen appliances such as a two-burner stovetop, full-size refrigerator and freezer, and microwave oven. For the living room and bedroom, they have full sized beds and beddings, dresser and nightstand, dining table with two chairs which can also be used as a work desk, color TV with cable, coffee table, and sofa bed. For the bathroom, they have shower curtains, first roll of bathroom tissue, washcloths, towels, and bathmat.
They also have vending machines, room cleaning every two weeks, and laundry room. Other services that can be availed includes linen exchange in which you can just bring your sheets and towels to the front desk and have it exchanged for news ones. They have housekeeping included once a week and you can pay for additional cleaning. You can avail of the dish pack, internet access and coffeemakers.
Cost and requirements on running a Value Place franchise
You need to have a net worth of $1,500,000 and a total liquid asset of at least $300,000. Expect to be investing about $3,323,000 to $4,856,000. The cost of Value Place franchise fee is $49,600 with an on-going royalty fee of 5%. This is for a renewable 20 year term agreement. You will need about four to five employees to run one location. They allow multi-unit ownership and absentee ownership.
What is included in the franchise package?
There will be training at the headquarters and at your location upon request. You will be provided assistance at the grand opening. You will be given access to the internet and to purchasing cooperatives. Expect to be attending meetings and receiving occasional field evaluations. For marketing support, there will be promotional items.
Value Place Contact Details
You may reach them at:
Address: 3401 N. Great Plains Drive, Wichita, KS 67220
Phone: (316) 630-5505