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Home > Franchises > Wintage Inns Int'l
Wintage Inns Int'l
A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.
Wingate Inns Int’l began franchising in hotels since 1995. Franchisor has 642 employees and is a publicly- held company. They have U.S. Franchises, Canadian Franchises, Foreign Franchises and Company Owned. They are seeking nationwide and worldwide. In 2002, growth for U.S. Franchises was 117 for Canadian Franchises it was 1, in 2003 for U.S. Franchises it was 126, for Canadian Franchises it was 2, in 2004 for U.S. Franchises it was 133, and Canadian Franchises was 02 and Foreign Franchises was 02. In 2005 for U.S. Franchises it was 139 and Canadian Franchises was 02. In 2006 for U.S. Franchises it was 143 and Canadian Franchises it was 02.
Total investment was $5.9 million-6.5 million, franchise fee varied, ongoing royalty fee was 4.5 percent and term of agreement is 20 years which is not renewable. Their operations included 5 percent of all franchisees who owned more than one unit, number of employees needed to run franchised unit were 15 to 20 and absentee ownership of franchise was not allowed. The different types of franchisee included franchise fee, startup costs, equipment, inventory, accounts receivable and payroll. The financing is into in house and third party sections. Startup costs, equipment, inventory, accounts receivable and payroll are taken into an account in both sections while in franchise fee it is accounted only for in house section.
Training is available at headquarters for 6 to 8 days, at franchisee's location it is for 2 to 3 days and regional workshops. Ongoing Support is newsletter, meetings, toll-free phone line, grand opening, and internet, purchasing cooperatives and field operations and evaluations. Marketing Support are co-op advertising, ad slicks, national media, regional advertising. In the Entrepreneur magazine 2002-2006 Franchise 500 ranking was 256 in 2006, 216 in 2005, 200 in 2004, 215 in 2003 and 131 in 2002. In Americas Top Global Franchises ranking was 147 in 2005 and 139 in 2004.
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