Frequently Asked Questions
What is included with a franchise ownership?
As a franchise owner, you will have exclusive ownership of your territory, be provided initial and ongoing training and support, and be provided an email account, website and a dedicated 800-phone number.
What is the typical time it takes to own a franchise?
From beginning to end, our typical process is between 3-6 months. This is an important decision, and we want to ensure you get off to a great start. Included in our process is a mandatory 3-day training at our headquarters in Denver, CO.
Do I need to have a real estate license?
Yes. All franchisees must be a licensed “Real Estate Brokerage” and are subject to state specific laws for the industry. This specifically includes any real estate industry related licenses or permits for you and your applicable staff and agents, which are normally administered and regulated by your State’s Department of Regulatory Agency and/or the Department of Real Estate. We also recommend that your AvenueWest Business be a member of the National Association of REALTORS and the Corporate Housing Providers Association (“CHPA”) in good standing and in accord with their ethical standards.
How much does it cost to own a franchise?
This information is available in our FDD.
Do you have financing options?
Each franchise is responsible for securing their own financing, but AvenueWest is a registered franchise with the Small Business Administration (SBA). Because we are listed in the SBA Franchise Directory, you are eligible to apply for funding through the SBA.
How many franchises can I own?
The world is your oyster! At AvenueWest, we love to support the growth of our high-performing owners. We recommend starting in the market you know best, and as your business grows, consider expansion into neighboring markets.
Where are your current franchise locations?
We currently have active franchises in seventeen markets, and continue to grow. You can see a full list of our active franchises, with links to their individual websites, here.
Do I need to own the properties I manage?
No! In fact, we recommend you do not. Without spilling all of our insider tips, our model is designed to protect our owners for foreseeable growth while providing a valuable and incentivized service to property investors. That is why we call our offering managed corporate housing. We continue to be highly sought after by property investors given our expertise in corporate housing management and consistent occupancy rates, while lowering franchise owners overhead and risk exposure.
What is the minimum length of a stay for renters?
We offer 30+ day stays in our managed properties. The majority of our customers stay for several months.
How do I find customers?
The AvenueWest team is there for you on day one with introductions to reputable and established corporate housing customers and partners. In addition, we provide a wide array of marketing tools, including your own customized website, to help you get in front of potential customers and property investment owners.
Are there additional resources about corporate housing I can review?
Yes. We recommend becoming a member of the Corporate Housing Providers Association (“CHPA”). You can find helpful information and industry training here.
Do I have to use your recommended vendors, or can I use my own?
You are welcome to use your own vendors and partners. However, AvenueWest has a number of resources and trusted partners that we highly recommend. We ask that you give our resources a shot, and if they are not meeting your needs, you are welcome to bring in your own tools. We do ask all franchise owners to utilize our booking platform.