Hotel & Motel Management - July 7, 2008 - (Page 20) 20 Guest Column IN THE details Franchisors can be helpful Form relationships with banks Financing not one-size-fits-all Minority franchising prevalent H&MM July 7, 2008 | HotelMotel.com www.HotelMotel.com/digital_edition Franchisors’ experience aids new franchisees N By Dean Savas H&MM Guest Columnist ew franchisees seeking to enter the hospitality industry face a number of unknowns. The list of challenges and obstacles is seemingly endless, with concerns about development, training and—perhaps most daunting of all—securing the financing to make their ownership dreams reality. Many aspiring franchise owners are met with resistance from lending institutions that balk at the idea of financing a new venture, often because of a lack of experience. In addition, many beginners simply don’t have the ability to put together a comprehensive business plan to present to prospective financers. As franchisors in the hospitality industry, we can do a great deal to help our franchisee partners, such as offering our own background, experience and expertise. By serving as support for the venture, we can minimize the risk and ensure that lending institutions can justify a loan. Here are a few recommended practices and policies that will help our prospective partners get off the ground and promote a more robust and secure bottom line for everyone involved: Establish relationships It is vital that the franchisor has established relationships with reputable banks and lending institutions. The institutions must understand your brands—how they are positioned and how they are likely to perform—and work with you to develop specific financing programs. Programs built around this kind of understanding mean quick and timely approvals for financing. Stay flexible Each prospective owner’s financing needs and circumstances are unique. Work closely with each individual franchisee to develop a financial plan that addresses his or her specific needs. Flexibility also means franchisees are free to consider all financing opportunities, whether with a traditional lending institution, a government-financed opportunity or another lender of their choice—all while knowing they will have your assistance in evaluating that lender. Minority opportunities The face of ownership in the industry is changing as more and more minorities seek to become owners. Minority franchisees often face a difficult time finding financing when they begin the process of becoming owners in the hospitality industry. Accor North America has designed the Accor Pinnacle Program specifically to assist prospective minority owners in all phases of the franchise process. With the proper infrastructure in place, it is possible to guide the potential minority franchisee to success. When a franchisor understands how to properly use his or her expertise and established relationships and infrastructure to the benefit of franchisee partners, it increases everyone’s chances for success and for lasting, productive business relationships. hmm@questex.com Dean Savas is senior v.p. of franchising for Accor North America. SDCI 0182_HMM CIRCLE NO. 137 S&D Coffee, Inc. 800.933.2210 www.buffaloandspring.com • http://HotelMotel.com http://www.HotelMotel.com/digital_edition http://www.buffaloandspring.com http://www.buffaloandspring.com
Table of Contents Feed for the Digital Edition of Hotel & Motel Management - July 7, 2008 Hotel & Motel Management - July 7, 2008 Contents Brands Target Eastern Markets New Peer Network Promotes Innovation Noble Makes Moves Despite Slow Market Perspective Legally Speaking On Finance AAHOA Update Satisfaction Trends Trends & Stats HotelWorld Update Guest Column 2008 Purchasing Survey Refrigerators Transportation In-Room Ammenities Revenue Management Ad/Editorial Index Marketplace Classifieds Checking Out Hotel & Motel Management - July 7, 2008 Hotel & Motel Management - July 7, 2008 - Hotel & Motel Management - July 7, 2008 (Page 1) Hotel & Motel Management - July 7, 2008 - Hotel & Motel Management - July 7, 2008 (Page 2) Hotel & Motel Management - July 7, 2008 - Contents (Page 3) Hotel & Motel Management - July 7, 2008 - Noble Makes Moves Despite Slow Market (Page 4) Hotel & Motel Management - July 7, 2008 - Noble Makes Moves Despite Slow Market (Page 5) Hotel & Motel Management - July 7, 2008 - Perspective (Page 6) Hotel & Motel Management - July 7, 2008 - Perspective (Page 7) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 8) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 9) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 10) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 11) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 12) Hotel & Motel Management - July 7, 2008 - Legally Speaking (Page 13) Hotel & Motel Management - July 7, 2008 - On Finance (Page 14) Hotel & Motel Management - July 7, 2008 - On Finance (Page 15) Hotel & Motel Management - July 7, 2008 - AAHOA Update (Page 16) Hotel & Motel Management - July 7, 2008 - Satisfaction Trends (Page 17) Hotel & Motel Management - July 7, 2008 - Trends & Stats (Page 18) Hotel & Motel Management - July 7, 2008 - HotelWorld Update (Page 19) Hotel & Motel Management - July 7, 2008 - Guest Column (Page 20) Hotel & Motel Management - July 7, 2008 - Guest Column (Page 21) Hotel & Motel Management - July 7, 2008 - Guest Column (Page 22) Hotel & Motel Management - July 7, 2008 - Guest Column (Page 23) Hotel & Motel Management - July 7, 2008 - 2008 Purchasing Survey (Page 24) Hotel & Motel Management - July 7, 2008 - 2008 Purchasing Survey (Page 25) Hotel & Motel Management - July 7, 2008 - 2008 Purchasing Survey (Page 26) Hotel & Motel Management - July 7, 2008 - 2008 Purchasing Survey (Page 27) Hotel & Motel Management - July 7, 2008 - Refrigerators (Page 28) Hotel & Motel Management - July 7, 2008 - Refrigerators (Page 29) Hotel & Motel Management - July 7, 2008 - Transportation (Page 30) Hotel & Motel Management - July 7, 2008 - Transportation (Page 31) Hotel & Motel Management - July 7, 2008 - Transportation (Page 32) Hotel & Motel Management - July 7, 2008 - Transportation (Page 33) Hotel & Motel Management - July 7, 2008 - Transportation (Page 34) Hotel & Motel Management - July 7, 2008 - Transportation (Page 35) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 36) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 37) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 38) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 39) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 40) Hotel & Motel Management - July 7, 2008 - In-Room Ammenities (Page 41) Hotel & Motel Management - July 7, 2008 - Revenue Management (Page 42) Hotel & Motel Management - July 7, 2008 - Revenue Management (Page 43) Hotel & Motel Management - July 7, 2008 - Ad/Editorial Index (Page 44) Hotel & Motel Management - July 7, 2008 - Ad/Editorial Index (Page 45) Hotel & Motel Management - July 7, 2008 - Ad/Editorial Index (Page 46) Hotel & Motel Management - July 7, 2008 - Ad/Editorial Index (Page 47) Hotel & Motel Management - July 7, 2008 - Marketplace (Page 48) Hotel & Motel Management - July 7, 2008 - Classifieds (Page 49) Hotel & Motel Management - July 7, 2008 - Classifieds (Page 50) Hotel & Motel Management - July 7, 2008 - Classifieds (Page 51) Hotel & Motel Management - July 7, 2008 - Classifieds (Page 52) Hotel & Motel Management - July 7, 2008 - Classifieds (Page 53) Hotel & Motel Management - July 7, 2008 - Checking Out (Page 54) Hotel & Motel Management - July 7, 2008 - Checking Out (Page 55) Hotel & Motel Management - July 7, 2008 - Checking Out (Page 56)
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