--- title: "My Place Franchise: Cost, FDD Analysis & Review" description: "Explore the My Place franchise. Investment: $3.2M-$4.1M. 59 locations. Financial performance disclosed. Hotels, Motels & Lodging Brands." url: "https://www.franchisegrade.com/best-franchises/brand/my-place" canonical: "https://www.franchisegrade.com/best-franchises/brand/my-place" markdown_url: "https://www.franchisegrade.com/best-franchises/brand/my-place.md" type: "FranchiseBrand" brand: "My Place" sector: "Real Estate & Lodging" category: "Hotels, Motels & Lodging Brands" investment_low: "3211836" investment_high: "4100336" total_units: "44" operating_model: "Semi-Absentee | Multi-Unit | Passive" --- # My Place Franchise: Cost, FDD Analysis & Review Explore the My Place franchise. Investment: $3.2M-$4.1M. 59 locations. Financial performance disclosed. Hotels, Motels & Lodging Brands. ## At a glance - **Brand:** My Place - **Sector:** Real Estate & Lodging - **Category:** Hotels, Motels & Lodging Brands - **Total initial investment:** $3,211,836 – $4,100,336 - **Total units (FDD Item 20):** 44 - **Operating model:** Semi-Absentee | Multi-Unit | Passive - **States with locations:** CO, GA, ID, IL, IA, MI, OR, SC, SD, TX, UT, WA ## My Place — franchise facts ### What is the total initial investment required to open a My Place franchise? Total investment ranges from $3.2 million to $4.1 million, covering land acquisition, construction, furnishings, and working capital. This substantial investment reflects the real estate-intensive nature of hotel operations. Franchisees should have access to significant financing or equity capital. ### What is the initial franchise fee for My Place, and what does it cover? The franchise fee is $30,000, granting rights to operate a My Place branded extended-stay hotel within a protected territory. This one-time fee covers initial training, brand access, and system support. The fee is modest relative to the overall investment but secures exclusive territorial rights. ### What ongoing fees, royalties, or required contributions do My Place franchisees pay? Franchisees pay a 4% royalty on gross room revenue and contribute 2.25% to the advertising fund. Combined, these ongoing fees total 6.25% of revenue, supporting corporate operations, marketing, and system improvements. ### What financial requirements must candidates meet to qualify for a My Place franchise? Franchisees must demonstrate access to $3.2 million to $4.1 million in capital or financing, typically including land purchase, construction, and operating reserves. Most investors use commercial real estate financing, SBA loans, or private equity. Liquid reserves for 6-12 months of operating expenses are recommended. ### Are financing options or third-party funding programs available for My Place franchisees? SBA loans, commercial real estate mortgages, and private equity partnerships are common financing approaches. My Place may have preferred lender relationships. Franchisees should consult with hospitality-focused financial advisors to structure optimal leverage and terms. ### What initial training does My Place provide to new franchise owners? My Place provides comprehensive training covering operations, guest services, housekeeping, maintenance, and financial management. Training occurs at corporate headquarters and at the franchisee's property before opening. Ongoing webinars and resource materials support continued learning. ### What ongoing support and resources does My Place offer after opening? Corporate support includes marketing campaigns, reservation system access, revenue management guidance, and staff training resources. Regional representatives assist with operations, and the brand provides vendor relationships for supplies and services. Franchisees have access to a network of other owners for best practice sharing. ### Does My Place assist with real estate and site selection for new locations? Site selection is critical and typically a franchisee responsibility, though corporate provides guidelines for location criteria, demographics, and traffic patterns. Properties in secondary markets with strong business and relocation activity perform well. Corporate may offer input on prospective locations. ### What does the day-to-day role of a franchise owner look like with My Place? Owners can be involved or delegate to a general manager, depending on their preference. Daily operations include housekeeping, maintenance, front desk, guest relations, and financial oversight. Extended-stay properties require attentive guest communication and property maintenance. ### Can My Place be operated as an owner-operator or semi-absentee franchise? My Place can operate with an on-site manager, allowing semi-absentee ownership if the owner hires and oversees a capable property manager. Larger multi-unit operators often use regional managers. Active owner involvement typically improves guest satisfaction and profitability. ### What type of lifestyle and time commitment should owners expect with My Place? This franchise suits investors prioritizing long-term, steady income over rapid growth or lifestyle flexibility. It requires significant upfront capital commitment and ongoing operational focus. Ideal for those with real estate expertise, patience with hospitality operations, and interest in recurring revenue. ### What territories or markets are currently available for My Place franchise ownership? My Place operates in 12 states: Colorado, Georgia, Idaho, Illinois, Iowa, Michigan, Oregon, South Carolina, South Dakota, Texas, Utah, and Washington. Protected territories prevent franchisee overlap. Availability varies by market and development stage. Contact the franchisor for current opportunities. ### Does My Place offer multi-unit ownership or expansion opportunities? Multi-unit development is available for qualified franchisees with capital and operational capacity. Area development agreements allow franchisees to develop multiple properties within a defined territory. Corporate supports scaling operations for experienced partners. ### Are area development or master franchise opportunities available with My Place? Area development agreements enable franchisees to commit to opening multiple locations over a defined period within a protected territory. Terms vary, but typically require development schedules and capital commitments. This path suits established operators seeking regional expansion. ### How does My Place approach unit-level profitability and financial performance? Extended-stay hotels generate recurring revenue from monthly bookings, creating more stable cash flow than transient properties. Operating margins vary by location, occupancy rates, and operational efficiency. Corporate reports strong RevPAR (revenue per available room) due to extended-stay demand. ### What sets My Place apart from competitors in its market segment? My Place differentiates through affordable extended-stay positioning, full kitchens, flexible monthly terms, and a loyal guest base. The brand maintains lower daily rates than traditional hotels while generating predictable occupancy. Protected territories and 20-year terms provide security for long-term franchisees. ## Research this brand - Full profile: https://www.franchisegrade.com/best-franchises/brand/my-place - Compare it side by side: https://www.franchisegrade.com/compare - Check affordability against your capital: https://www.franchisegrade.com/affordability-calculator - Franchise terms used above: https://www.franchisegrade.com/tools/franchise-glossary --- *Source: [FranchiseGrade](https://www.franchisegrade.com) — independent, FDD-derived franchise research.* *Cite this page as: https://www.franchisegrade.com/best-franchises/brand/my-place* *Training, indexing and quotation are permitted — please attribute and link to the source URL above. Full-text reproduction of the whole page is not. Licensing: privacy@franchisegrade.com*