The iTrip Vacations Short-Term Rental Franchise Cost Comes with Our Expert Guidance and Support
The iTrip Vacations® brand has been a leader in private accommodations since 2008, and a premier franchise investment since 2015. We’re proud that our short-term rental franchise cost is comprehensive and includes what franchisees need to get their businesses up and running. Best of all, an iTrip investment comes with our commitment to thorough training and ongoing support. Let’s take a look at some numbers and what you can look forward to as our franchisee.
What’s the Breakdown Cost to Start an iTrip Short-Term Rental Franchise?
As with any small business, starting an iTrip franchise requires an investment in time, resources, and capital. Below are some figures to consider.
- Initial franchise fee: Our opportunity requires that you pay an initial franchise fee, something all franchise brands ask of new owners. This sum varies depending on the brand, and we require $75,000 to get started. This payment grants you the right to do business under the iTrip Vacations name – a registered trademark – and gives you access to all resources, including our time-tested business model, trademarks, logos and other collateral.
- Liquid capital and royalty fee: In addition to our one-time fee of 75K, we require you to have a net worth of $250,000 and access to $200,000 in liquid capital. Financial stability is important, as it can mean the flexibility and peace of mind you need to navigate the challenges of new business ownership. Furthermore, we charge a 5% monthly royalty fee against your gross receipts. Among other things, this amount allows us to continue our ongoing marketing efforts on your behalf and supports our continued research and development.
- Total initial investment: You’ll need to factor in expenses like our monthly technology fee of $540, your own local marketing, office equipment, professional fees, etc. In total, you can expect to pay between $129,075 and $148,375 as your initial investment in an iTrip Vacations franchise. Feel free to request a copy of our Franchise Disclosure Document for a complete breakdown of the franchising cost to start a short-term rental property management business with iTrip.
How We Prepare and Support You in Your Property Management Franchise
We make sure each new franchisee receives comprehensive initial training that prepares them for all aspects of running their short-term rental property management company. This in-depth training covers topics such as:
- How to meet with real estate agents, vendors, and other important resources
- How to market your franchise to reach the best demographics
- How to maximize your networking efforts
- How to manage your rental properties
- How to create quotes and bookings
- How to leverage our exclusive software and technology
- And much more!
After your short-term rental franchise is up and running, you can count on our established relationships with over 80 national and international listing sites, including Airbnb, Vrbo, and TripAdvisor, to help put your rental property listings in front of more potential customers. Beyond that, our in-house marketing team works to spread the word about your franchise through strategic efforts such as email campaigns, social media engagement, blogs, and our bi-monthly newsletter sent to over 300,000 subscribers.
Ready to find out more about the cost to start an iTrip short-term rental franchise and how it can enable you to become part of our exciting rental property management industry? Get in touch today!