March 26, 2008 // Franchising.com // WICHITA, Kan.– Value Place, the nation's fastest-growing extended stay hotel chain, is pleased to announce that it recently received the Franchise Business Review's 2008 FBR 50 - Franchisee Satisfaction Award. Value Place is the only hotel chain to earn a spot on the coveted FBR 50™ list, recognized as the most exclusive award in franchising. This is Value Place's second FBR 50™ award.
The Franchise Business Review, a national franchise market research firm, conducts the annual survey of franchise satisfaction to pay tribute the companies that put their franchisees first and focus on the things that matter most. The awards are also designed to assist prospective franchise buyers in evaluating a franchise system.
"The popularity of franchising has exploded and there are hundreds of new franchise concepts coming out each year," said Eric Stites, founder and president of Franchise Business Review. "For people considering a franchise investment, satisfaction among current franchisees is one of the most critical factors to consider. Our goal is to help simplify the franchise research and buying process and help entrepreneurs discover the best franchise opportunities in today's marketplace," he said.
To determine this year's award winners, Franchise Business Review surveyed thousands of franchisees from more than 325 U.S. and Canadian companies to evaluate key areas of each franchise system. Those areas included training and support; proven systems and procedures; operations; the franchisor/franchisee relationship; financial opportunity; and overall franchisee satisfaction.
Companies whose franchisees reported the highest levels of satisfaction and buyer experience were awarded the FBR 50 – Franchisee Satisfaction Award™ designation. Value Place ranked 14th overall in category for franchise companies with up to 50 units.
"It is such a privilege and honor for Value Place to be included among the ranks of the best franchise companies in North America," said Gina-Lynne Scharoun, president of Value Place Franchise Services LLC. "Value Place puts great emphasis on cultivating partnership-like relationships with each of our franchisees, and we congratulate everyone on this accomplishment," she said.
Paul Mangiamele, chief development officer for Value Place Franchise Services added, "Value Place has a very unique business model and operating philosophies. Together with our franchisees, we are creating a new category in the hospitality industry. It's very exciting. We take great pride in the fact that our own franchisees hold us in such high regard," he said. "From the time our franchisees sign their agreement, through every phase of business development and beyond, we do everything we can to provide the highest level of support to make them successful."
Value Place is one of the nation's fastest-growing brands. The extended stay hotel chain now has more than 80 open properties in 19 states and over 50 under construction. To date, more than 40 franchisee groups have committed to build 600+ hotels nationwide over the next five years.
In addition to its FBR 50™ award, Value Place is also celebrating the International Franchise Association's Certified Franchise Executive (CFE) designation recently earned by Scharoun and the company's chief development officer and senior vice president of franchise development, Paul Mangiamele.
The Institute of Certified Franchise Executives, a subsidiary of the International Franchise Association's (IFA) Educational Foundation, awarded Scharoun and Mangiamele their CFE titles during the IFA's annual convention in Orlando on February 11, after they completed more than 3,500 credits of rigorous master-level franchising-specific study.
"Value Place is poised for growth, and Gina-Lynne's and my involvement in the CFE program has given us the opportunity to attain very specialized knowledge that will benefit our franchisees and make the Value Place system even stronger," Mangiamele said. "Receiving the CFE title and the FBR 50™ award in the same week is a great way for Value Place to start the year. We look forward to supporting our franchisees in 2008 and taking the Value Place Brand to even greater heights," he said.
Value Place is an extended stay hotel chain founded by Jack DeBoer in 2003 to provide remarkably affordable, ultra clean and secure extended stay lodging for independent business owners, professional consultants, families and individuals who are on the move to a new job assignment or relocating to a new community. Now with more than 40 franchisee groups operating over 80 hotels in 19 states and expanding nationally, the Value Place Brand is the creation of the management team that developed Residence Inn (now owned by Marriott), Summerfield Suites (a part of the Hyatt hotel chain), and Candlewood Suites (an Intercontinental hotel chain company) and is headquartered in Wichita, Kan. Learn more about Value Place or make reservations at ValuePlace.com or call 800-ValuePlace.