Vagabond Franchise System Reduces Royalty Fee for Existing Franchisees
LOS ANGELES, CA, November 17, 2005. 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 franchisees.
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.
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