Hotel paper

As a business entrepreneur my investments have focused into the hotel industry. One of my biggest goals is to build and open my own hotel to start my own business. I have done some research and I find myself well suited to be able to operate a franchised brand hotel. I have a well thought out strategy that will help me become successful in the lodging industry. Within this paper I will allow myself to guide you through the steps I will take to follow and accomplish this goal of mine.
A franchise is a right granted to an individual or group to market a company's goods or services within a certain territory or location. The franchisor sells the rights to the franchisee and then typically receives a fee for ongoing support, therefore having a vested interest in the success of each franchise. I chose to go the franchise way because I feel that I would have more support and profit coming in from franchising due to the fact of my lack of hotel business experience. I love to take risks but if I started from scratch in the lodging industry it would be an epic fail. Also from my search I have came across great reasons of why franchising would work for me.
Some of the advantages are there is a higher likelihood of success since a proven business formula is in place. The products, services, and business operations have already been established. Bankers usually look at successful franchise chains as having a lower risk of repayment default and are more likely to loan money based on that premise. The corporate image and brand awareness is already recognized. Consumers are generally more comfortable purchasing items they are familiar with and working with companies they know and trust. Franchise companies usually provide extensive training and support to their franchisees in effort to help them succeed. Many times products and services are advertised at a local and national level by the main franchise companies. This practice helps boost sales for all