Do you want to open a hotel marketing business by buying Hotel Key Kaddy franchise? If YES, here is how much it cost to open Hotel Key Kaddy successfully. Hotel Key Kaddy is different from most franchises in the travel industry because it does not involve running your own agency. A Hotel Key Kaddy involves marketing services directly to hotels and local business owners.
For all of its pecks and benefits, it takes minimum cash infusion of $18,900. Hotel Key Kaddy is renowned for making digital hotel room keys with information about local businesses, including restaurants and different attractions.
Hotel Key Kaddy offers their key caddies for free to hotels, but then it falls on the franchisee to find companies who want to advertise on those key kaddies. Then you receive a portion of the sale for every person who signs up. According to Hotel Key Kaddy, franchisees have unlimited potential earnings and can quickly make this a profitable franchise.
The company’s one of a kind patented product has enabled its dealers to enjoy and earn more in one month than most people earn in one year. Businesses are showcased on the Hotel Key Kaddy in full colour, with discounts that are being referred by the front desk daily.
Upon check-in, hotels across America are giving out Hotel Key Kaddy with their room keys. The company, Metro Marketing, which has been in business for more than 25 years and has an A+ Rating with the Better Business Bureau, makes all these processes easy and business easy to generate.
Hotel Key Kaddy offers a wide open market with significant potential for growth. With this franchise you can be your own boss, doing the work you choose to do where you want, with the people you choose to work with. Also note that with the low-overhead business model, Hotel Key Kaddy keeps your operating costs down and provides you with flexibility. No rush hour. No time clock. No commuting. No dress code.
Also note there are no ceiling on earnings and no high inventory requirements whatsoever. In addition, previous business ownership or industry experience is not necessary. Your time and your life are your own and you enjoy more fun, travel, play and time with your family.
For Hotel Key Kaddy, tourists and visitors from out of town are a highly desirable target audience that many businesses are interested in reaching. You’ll provide businesses in your area with an effective marketing tool for promoting their products and services to this audience.
Financial Investment Required to Open Hotel Key Kaddy Franchise
- Required Investments: $18,900
5 Steps on How to Open Hotel Key Kaddy Franchise
As Hotel Key Kaddy continues to expand, they are looking for enthusiastic individuals who are seeking a $6,000 per week residual income. The $18,900 investment could be recovered in up to 30-45 days. Below are six key things you should do to ensure you make a wise investment with Hotel Key Kaddy.
1. Perform your Due Diligence
Just because you like the company doesn’t mean acquiring Hotel Key Kaddy Franchise will suit you well. Even the company suggests that you get as much information as you can about current and likely future demand for its vast products or services.
Research and seek the company’s data on sales, outlets, growth, marketing plans. Talk to existing franchisees and ask crucial business questions. Business wise, always remember that even if there is strong demand at the moment or in the past, this does not guarantee strong ongoing demand.
2. Read and Understand the Documents
It is very crucial that you read and understand all the documents provided to you, including the franchise agreement. Always ensure you fully understand the operational and financial obligations you will be under if you purchase Hotel Key Kaddy Franchise.
Properly analyse the contractual rights of the franchisor, such as rights to determine sources of supply and supply prices, control over marketing and advertising, ability to direct the way in which services are rendered. You will also need to be clear on the grounds on which either party may terminate the contract. Remember, the franchise agreement is a binding legal contract once signed.
Given the amount you are thinking of paying for the franchise, it makes very concrete sense to pay for good professional advice on the terms of the agreement. Professional advice can save you from making a very bad and costly business decision.
3. Know your Obligations, Strengths and Weaknesses
Have it in mind that the franchise agreement will define what aspects of the business are your responsibilities and what aspects are the parent company responsibilities. Indeed all franchise arrangements are different, but Hotel Key Kaddy claims to be better. You need to be clear about what your obligations are and whether you have the skill set to perform those obligations.
Indeed you may be experienced at customer service but not understand basic financial management or accounting. You can make the arrangements with Hotel Key Kaddy to handle all the financial and accounting requirements and provide the system for you to use. Consider carefully whether you have the necessary skills to do all the things required of you in the franchise. If not, you will need to factor in the cost of outsourcing those functions if you proceed with the purchase.
4. Key in the Numbers and Assess the Risks
With Hotel Key Kaddy you are not landing a job, instead you are buying a business opportunity. It’s your responsibility to make the franchise successful within the terms of the agreement. You must thoroughly understand the commercial elements of the franchise agreement.
What determines what you must pay to the company once the franchise is operating? If the business is not as successful as you hope, it doesn’t affect the fee you pay to the company.
You might not have exclusivity in a locality and might have to compete with nearby, significantly reducing your potential customer base. All in all, get professional financial advice to help you understand the commercial aspects of the franchise agreement, and assess the financial implications if key variables change.
5. Know your Exit Options
What are your medium and long term objectives? If you plan to sell the franchise once you’ve built it, be clear on your contractual rights to do so, and any limitations or requirements set by the company. Note that the longer the term of the franchise remaining, the more valuable the business is likely to be.
Since Hotel Key Kaddy operates from home or leased premises, an effective exit will require an exit from both the franchise agreement and from the lease – two separate legally binding contracts which may be with two different entities. Hotel Key Kaddy will encourage you to seek professional advice and spend time understanding the opportunity.
Conclusion
Most people want to become business owners, but it can be overwhelming doing everything from scratch. Owning and starting a business from the scratch means that you’re responsible for all tasks – from marketing to hiring staff. Some people view franchising as a way to enjoy the best of both worlds, but with support from a proven business model.
With Hotel Key Kaddy’s unique marketing approach that is FREE to the hotels that use the company’s hotel passport. Hotel operators often own more than one hotel so you can take advantage of those opportunities to grow your business.