U.S. Franchise Systems Inc., the franchiser of Microtel Inn, Hawthorne Suites and Best Inns hotels, said yesterday that it had hired Banc of America Securities to explore strategic alternatives after receiving several bids.
The Hyatt Corporation's Pritzker family agreed to buy U.S. Franchise Systems Inc., the franchiser of Microtel Inns and Suites, for $99.8 million.
"These franchise contracts are often legal works of art with franchiser attorneys determining every possible scenario during the entire length of time you'll own the franchise, to the franchiser's benefit -- not yours," she said.
Franchise arrangements are characterized by a contractual relationship between a franchiser (a manufacturer, wholesaler, or service organization) and franchisees (independent entrepreneurs who purchase the right to own and operate any number of units in the franchise systems).
"Any small businessman is going to be very challenged getting financing without franchiser assistance," said Ken Switzer, chief financial officer of Marco's Franchising.
I told him that he had a lot of factors working in his favor, particularly that he had resigned from the other franchise, which meant he wasn't contractually obligated to the franchiser.
"We get 200 to 300 sales leads a month," said Geoff Hill, senior vice president for franchise sales and development at Carvel, the ice cream store franchiser.
Her shop, a franchise of "bricks4kids", is selling classes for children to play with Lego bricks, and her idea is clearly taking off.Her initial outlet, the first in South-East Asia for the American franchiser, opened only in January, but already Ms Tan has opened two more and has several others in the pipeline.
HFS differs from Accor, however, in being a franchiser of its hotel brands rather than an operator.
He is an associate of Bob Munnerlyn, proprietor and franchiser of Bob's Rent-A-Wreck, and works the entire Northern region.
Larry Cohen, the proprietor and franchiser of the business operates on license from Bob's Rent-A-Wreck, Inc. of Raleigh, N. Carolina.
