Royalty Fee for Existing Franchisees
|LOS ANGELES, CA – Vagabond Franchise System, Inc, announced a reduction
in fees for existing franchisees at a recent owners meeting. Don
Johnson, President and CEO announced the reduction of one percent from
royalties to be paid beginning January 1, 2006. This reduction is
being given to those franchisees whose contracts began more than 2 years
ago. This reduction rewards loyalty by long-term franchisees, and
is another method by which Vagabond Franchise System, Inc. rewards its
Bruce Weitzman, Vagabond Franchise System’s Vice President, Franchise Development commented, “I don’t know of another brand that has shown its loyalty and shared its success in this way. Management of Vagabond Franchise System, Inc. has been dedicated to providing the type of assistance franchisees don’t come to expect from their brands, and this has been shown once again in this fee reduction.”
“We believe that this may be the first time that any hotel franchisor has made such a move, and we are combining this savings with increased efforts to help our franchisees achieve ever-increasing results,” said Mr. Johnson. The company believes that the combination of its technological focus and long-standing presence on the West Coast has contributed to its above-average performance as compared to its competition.
Don Johnson delivered the news during the annual owners meeting and, as expected, was very well received. The meeting highlighted work being done by the company to focus its marketing efforts through web-based channels. Marketing staff presented current results that demonstrated the advantage of such channels in delivering a significant volume of business and yielding a very high return on marketing dollars invested.
Vagabond Franchise System, Inc. franchises Vagabond Inn® and Vagabond Inn Executivesm limited-service, economy and mid-priced lodging properties that appeal to value conscious business and leisure travelers. There are presently 43 Vagabond locations in California and Nevada.
|Also See:||Developer Malachi Sanchez Opens the Vagabond Inn Executivesm in Los Banos, California / Aug 2003|
|Vagabond Franchise System, Inc. Makes Corporate Staff Changes; Seeks to Better Drive Revenue to its Franchisees / December 2002|