Question 1

How much does it cost to open a My Place Hotels of America franchise?

Accepted Answer

The total initial investment for a My Place Hotels of America franchise ranges from $5.7M to $7.0M, according to the latest Franchise Disclosure Document (FDD).

Question 2

What is the My Place Hotels of America franchise fee?

Accepted Answer

The initial franchise fee for My Place Hotels of America is $40K.

Question 3

What are the net worth requirements for a My Place Hotels of America franchise?

Accepted Answer

Net worth requirements for My Place Hotels of America are specified in the Franchise Disclosure Document.

Question 4

Does My Place Hotels of America require a personal guarantee?

Accepted Answer

Yes, My Place Hotels of America requires a personal guarantee from franchisees. A spousal guarantee is also required.

Question 5

What equipment and inventory costs are involved with a My Place Hotels of America franchise?

Accepted Answer

Equipment costs for a My Place Hotels of America franchise range from $590K to $640K. Initial inventory costs range from $8K to $20K.