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Choice Hotels franchise financing options
Compare costs, fees and where to get financing for a Choice Hotels.
Estimated initial costs
Our cost estimates are accurate as of 2021 from Franchise Direct and include opening fees and expenses only. The location you choose for your Choice Hotels franchise may result in higher or lower fees.All costs were found using the 200 largest franchises nationwide using Franchise Direct's list of more than 300 franchises, and are accurate as of 2021.
How to financeThe average cost to open one of the 200 biggest franchises in the US — $0 — is well over the estimated total initial costs for $0. Securing funds will likely be easier at lower amounts, just follow these steps:
- Review the financial requirements on the Choice Hotels franchising website.
- Compare banks, online lenders and business credit cards and determine which financing type best suits your needs.
- Once you settle on a financing type, compare lenders based on credit history requirements, amounts offered and interest rates.
- Gather all required documents and apply online or in person.
What types of financing is available?Since the total cost to finance a Choice Hotels is relatively low, you'll likely want to consider one of the following:
- Online loan. Online nonbank lenders often have more flexible requirements than banks, and offer lower loan amounts.
- Credit card. A business credit card — or personal one — can be a good way to cover small initial costs, especially if you can pay it off quickly.
Compare small business lendersWith estimated costs that can top $0, you may need financing. Select the Compare box for up to four providers you want to view side-by-side.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How Choice Hotels stacks upCompare how Choice Hotels holds up against two similarly sized franchises.
|Wendy's||Choice Hotels||General Nutrition Corporation|
|Average Franchise fees||NA||NA||$27,500|
|Average Equipment fees||$497,500||NA||$32,800|
|Average Real estate fees||$1,877,500||NA||$89,401|
|Average Training fees||$63,000||NA||$2,250|
|Average Inventory fees||$13,000||NA||$85,000|
|Average Marketing fees||$8,750||NA||NA|
|Average Licenses and permits fees||$92,500||NA||NA|
|Average Insurance fees||$22,500||NA||$4,015|
|Average Admin fees||$55,000||NA||NA|
|Average Personnel fees||NA||NA||NA|
|Average Other fees||$171,000||NA||$23,500|
Bottom lineChoice Hotels franchise costs run a total of $0. Before you decide to become a franchisee, compare the total costs against industry averages. And to learn more about financing read our guide to franchise financing.
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