Grand Welcome Franchise – Costs, Fees & Earning Stats
Liquid Capital:
Net Worth Requirement:
Investment:
Franchise Fee:
Units in Operation:
Founded:
Franchising Since:
$10,000 – $65,000
$50,000 – $150,000
$33,400 – $161,250
$15,000 – $105,000
11+
2009
2019
Grand Welcome is a vacation rental management company and has been in business since 2009. Grand Welcome offers services including property management and marketing to property rental owners.
In this article, we will go over the costs and fees associated with the Grand Welcome franchise as well as some earnings statistics.
Is Grand Welcome a franchise?
Grand Welcome is a vacation rental and property management franchise and has been franchising since 2019. It doesn’t necessarily require renting space or opening an office. You can work from a home office with a computer, internet access, and a printer. Grand Welcome has a real-time booking platform that is connected with online travel sites including Airbnb, Orbitz, HomeAway, Travelocity, Booking.com, and many more.
How many Grand Welcome franchises are there?
Grand Welcome is a franchise that had over 11 franchised locations at the start of 2022 and has awarded 17 more this year in at least 8 different states. Grand Welcome franchise opportunities currently exist all across the United States.
You don’t need experience in a vacation rental business, but a background in real estate, sales, or any other sales-related industry may be advantageous.
The business involves servicing customers and managing vendors to clean and maintain the properties and it can also involve hiring a small staff eventually.
How much does a Grand Welcome franchise cost?
A Grand Welcome franchise is a great way to get into the vacation rental and property management business. The initial investment ranges from 33,400 – $161,250. The investment includes comprehensive training and support, materials, working capital, and access to the booking software.
There are costs to keep in mind such as a 7% royalty on gross sales and a 1% brand fund fee on gross sales. Additionally, there is a technology fee of $25 per managed rental vacation property and a $10 fee per reservation.
Finally, as part of the Grand Welcome franchise agreement, there is a marketing fee depending on the market size that starts at 1,500-2,500.
Overall, the cost of starting a Grand Welcome franchise is relatively low compared to other franchises in the vacation rental industry. With a low initial investment and a track record of success, Grand Welcome is an appealing option for aspiring entrepreneurs.
What is the Grand Welcome franchise fee?
The Grand Welcome initial franchise fee depends on the territory tier and it ranges from $15,000 – $105,000. This fee includes the cost of initial training, as well as the right to use the name and logo of the company. In addition, Grand Welcome offers 3rd party financing offers to help make the initial investment more manageable.
Grand Welcome offers comprehensive training and support for its franchisees, including 1-week training programs at its headquarters and existing corporate-run locations. Ongoing support is provided by Grand Welcome staff, coaches, and online programs to encourage continuous development and collaboration.
What sets Grand Welcome apart from other franchise opportunities is its proven model of success, experienced company support, and infrastructure investment focus. What’s crucial is relationship building both in the community and with the vacation rental property owners while also giving outstanding customer service to vacation rental guests.
Those interested in becoming a franchisee do not need to be certified in any area, with the exception of some states that do require a real estate broker’s license in order to run a vacation rental business.
How much do Grand Welcome franchise owners make?
Grand Welcome is a premium business in the franchise industry that caters to vacation rental properties and offers its franchisees the opportunity to build their own business while providing high-quality customer service to the guests who stay in vacation rentals.
Earnings will vary depending on a number of factors, including the size of the territory and the number of properties serviced. Franchisees who are able to build a strong customer base and maintain a high level of service can expect to earn more than ones who don’t.
In 2021, with data from 5 affiliate territories and 1 company-owned location, the average total revenue generated was $4.18 million with a high of $10,825,646 and a low of $816,016. The average net franchisee income was $481,555 with a high of $1,207,893 and a low of $53,740.
The Wolf’s Take
Grand Welcome is a vacation rental + property management franchise where franchisees don’t need to own the properties they manage but instead can manage short-term rentals owned by others.
According to their website, they are integrated with Airbnb, HomeAway, Orbitz, Booking.com, and Travelocity.
The numbers look well….incredible. I’m by no means an expert in the short-term rental market, but it looks like the system is designed for franchisees to find property owners, help them drive more bookings, and franchisees share in that revenue by helping them market + manage the locations.
Given the low initial investment and potential ROI, this is a franchise worth looking into!
Ending Summary
The Grand Welcome franchise is a good way to get into the vacation rental and property management business. With a low initial investment and a track record of success, Grand Welcome is an appealing option for aspiring entrepreneurs.
This is not investment advice. As always, look at the franchise disclosure document and do your own research and due diligence before investing and realize any investment may go to zero.
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