We understand investing in a Quest franchise business is a big decision, so we’re sure you might have a few questions. Our most common franchise FAQs are listed below, but if there’s something that still needs answering please get in touch and our Quest consultant will call you back at a time that’s convenient for you.
WHY A QUEST FRANCHISE?
As the market leader in serviced apartment accommodation for corporate and leisure travellers, Quest has earned high marketplace recognition and an international reputation for consistent quality over many years.
Buy a Quest franchise, and you immediately benefit from these high levels of awareness and from the confidence and trust that travellers have in the Quest brand. Our primary market is the extended stay corporate traveller, who brings high revenue, high margin business to our franchisees.
* To read more about the Quest business please download The Keys to your Business Future.
WHO IS A TYPICAL FRANCHISEE?
Most of our franchisees have already run their own business, or are mid-career executives who want to develop and run a profitable business of their own.
All are highly motivated, and know the value of significant head office management experience, proven business systems, strong franchisee support and network synergies.
*To access if you are a potential applicant please download the Quest self assessment criteria document.
WHAT IS YOUR FRANCHISE MODEL?
One of the key factors in Quest’s success is our apartment locations. New locations are thoroughly researched and selected only on the basis of strong corporate demand, ensuring that our franchisees are operating in growth environments.
Apartments are built by Quest or a developer to our exacting specifications, may be strata-titled, sold to individual investors then leased back to Quest for 25 years. Franchisees then buy the rights to manage and market the serviced apartment complex.
WHAT TRAINING AND SUPPORT DO YOU GIVE?
New franchisees begin with an intensive induction and training program, and are closely monitored for their first six months. Ongoing regular support is given through via our Franchise System Support and Business Success Programs
We provide all the computerised systems needed to operate an outstanding business, while extensive manuals cover business planning, financial control, operations, customer service, staff recruitment and training, advertising, promotion and market research.
The Networks Revenue and Brand Development programs are well documented for easy review and provide for a multi faceted but targeted approach to harnessing and growing meaningful relationships with identified market sectors.
WHAT’S THE BOTTOM LINE?
Our drive is for higher revenue, higher margin corporate clients. We focus on selling accommodation, the most profitable aspect of serviced apartments, not on restaurants or cafes. Quest properties enjoy occupancies that are 4% - 5% higher than other operators in our marketplace, and guests stay an average of three to four days (typical hotel stays are only two days) which significantly reduces operational costs.
Capital entry costs are based on a multiplier of annual profit, meaning properties are paid off within 3.5 to 4.5 years. Finance can be quickly and easily arranged for approved franchise applicants. Some franchisees move on to their second or third property, building goodwill and selling their initial businesses for up to twice what they paid for them.
WHAT FRANCHISE OPPORTUNITIES ARE AVAILABLE?
To enquire about current franchise opportunities email franchising@questapartments.co.nz