- 2024 Franchise 500 Rank
-
#451 Not ranked last year
- Initial investment
-
$110K - $150K
- Units as of 2023
-
107 27.4% over 3 years
Founded in 2008, iTrip Vacations is a rental property management company. Vacation property owners founded the company because they were unsatisfied with obsolete ways of managing their properties. The company began franchising in 2015 and its headquarters are located in Brentwood, Tennessee.
iTrip Vacations gives franchisees the chance to build a lifestyle business at a location of their choice. Preferably, this will be a place where many people like to visit and spend their holidays. Each franchisee may earn a commission on rental bookings and income generated from rental fees charged to the guests.
As a franchisee, you'll provide a full-service rental management program to guests and homeowners on vacation. You'll manage the entire process, including adjusting pricing, preparing and listing properties, handling guest requests, and supervising cleaning and maintenance. You may also acquire more properties to grow your business. This entails presentations and meetings with homeowner associations, local real estate agents, and more in order to gain more clients.
Why You May Want to Start an iTrip Vacations Franchise
With over 80 franchises across the U.S., iTrip Vacations has a proven business model. Members of the iTrip Vacations headquarters' team will visit your market when you first open to help with operations, sales, and networking. You will not be left without support and guidance from the company.
There's no equipment or inventory to buy when franchising. All you need is a smartphone and a computer. The company's structure is virtual with automation and efficiencies that allow you to operate your business right from home without many expenses. With low startup costs, you may be in good shape to begin your own iTrip Vacations franchise. The vacation rental market has ignited, and iTrip Vacations is there to help you grow your franchise.
What Might Make an iTrip Vacations Franchise a Good Choice?
iTrip Vacations’ total investment includes a franchise fee and other startup costs. You will also need to meet a minimum net worth and have liquid capital. Be prepared to pay a monthly franchise royalty fee, as well. It would be wise to speak with your financial planner when you are ready to buy a franchise..
With many Americans wishing to take vacations, iTrip Vacations offers franchisees a chance to enter a growing business.
How Do You Open an iTrip Vacations Franchise?
An ideal franchisee is someone who has previous business experience, a strong work ethic, a desire to follow the iTrip Vacations model, and financial stability.
As you progress through the iTrip Vacations franchise process, you may receive an invitation for an interactive training program. Here, you will discuss the business model and what an investment may entail,among other aspects of the iTrip Vacations business model.
Franchisees will be assigned a support consultant who will guide them through the startup of the franchise location. Before franchisees open a franchise, they must also attend mandatory training in Brentwood, Tennessee. This will give franchisees an in-depth knowledge of managing the franchise's daily operations.
Company Overview
About iTrip
| Industry | Business Services |
|---|---|
| Related Categories | Property Management |
| Founded | 2008 |
| Parent Company | InhabitIQ |
| Leadership | Vickie Storm, VP of Franchise Development |
| Corporate Address |
205 Powell Pl., #309 Brentwood, TN 37027 |
| Social | Facebook, Twitter, LinkedIn, Instagram, Pinterest |
Business Overview
| Franchising Since | 2015 (9 years) |
|---|---|
| # of employees at HQ | 20 |
| Where seeking |
This company is offering new franchises throughout the US. |
| # of Units | 107 (as of 2023) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a iTrip franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$10,000 - $30,000 |
|---|---|
|
Initial Investment
|
$110,000 - $150,000 |
|
Net Worth Requirement
|
$200,000 |
|
Cash Requirement
|
$200,000 |
|
Veteran Incentives
|
10% off franchise fee |
|
Royalty Fee
|
4%-6.1% |
|
Ad Royalty Fee
|
to 1% |
|
Term of Agreement
|
10 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| In-House Financing | iTrip offers in-house financing to cover the following: equipment, accounts receivable, payroll |
|---|---|
| Third Party Financing | iTrip has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs |
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 28 hours |
|---|---|
| Classroom Training | 21 hours |
| Ongoing Support |
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Co-op Advertising
Ad Templates
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | No |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
Yes |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | -2 |
|
Are exclusive territories available?
|
Yes |
Franchise 500 Ranking History
Compare where iTrip landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where iTrip ranked on other franchise lists? Find out below.
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