Start a Sheraton Hotel Franchise
Sheraton hotel is a franchise company that offers a wide array of luxurious services.
Sheraton hotels are usually seen in key cities and destinations in the United States and all around the globe.
In choosing your franchise company, it is important that you know its history. Its history will help you in determining what type of people run the business and how are you going to fit in when you decided to actually purchase a franchise.
It was in the year 1937 that business partners Ernest Henderson and Robert Moore bought their first hotel in Springfield, Massachusetts. After two years, they have expanded their business in Boston area. Eventually, due to the success of the business, their hotels have reached Maine and Florida. Because of the hard work and proven business strategy of the founders that Sheraton hotels became the first chain of hotels to be listed on the New York Stock Exchange.
In the year 1949, Sheraton expanded its business internationally. After that, the business grew fast all over the world. Currently, there are more than one hundred countries that have a franchise of Sheraton Hotel. It was also Sheraton that introduced a new mid-scale hotel brand that offers luxurious services at a reasonable price.
One thing an individual or an entrepreneur should consider in starting this type of business is the amount of capital needed. Starting a hotel franchise is not like any other business that only requires small amount of investment. In franchising a Sheraton hotel, you should make sure that you have the required amount of capital and investment needed. In the event that you do not have the required amount of money on hand but you still want to pursue with your business venture, you should consider loaning money from banks. Banks will probably ask for collaterals. These collaterals could be your properties, from lands to vehicles. But make sure that you only borrow the amount of money that you are sure to pay because you do not want to end up being unsuccessful early on your business endeavor.
Before even deciding to purchase a Sheraton Hotel, you might want to seek advice and recommendations first from the right people. These people could be other owners of the same type of business or other firms that offer consultation services regarding hotels. The reason why you should seek advice from other people first is because you should knowledgeable first of the basic things that you must know in order to run the business successfully. From the insurance company, strategies in running the business, the type of employees you should hire, and the dos and don’ts in the hotel and travel industry.
After you have acquired all the necessary knowledge that you must have, you are now ready to purchase your Sheraton Hotel franchise. You can contact them through their website or you could just call them on their phone line and ask for the requirements.
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