Are all of their locations corporate owned or do they have a franchise model?

But If I close in the name of the LLC then TN charges a 6.5% Franchise and Excise tax (6.25% on net income and 0.25% on book value of the property annually ) which would be a significant amount. 

I would like to close in the name of the LLC for extra liability protection as the owner, however LLC's are subject to TN franchise and excise tax unless they apply for one of the exemptions.

I would like to close in the name of the LLC for extra liability protection as the owner, however LLC's are subject to TN franchise and excise tax unless they apply for one of the exemptions.

Not trying to be offensive, but it sounds like you're trying to build an NFL franchise but you aren't quite sure how flag football works yet.My suggestion is do the first deal yourself using an experienced agent. 

It sounds like you want to buy into a franchise.

On the other hand, keep in mind that there are costs associated with maintaining an LLC (such as the $800 annual franchise tax in California).2.

I called two companies and they mentioned that I would be better off finding a sponsor in a non-franchise company because of the monthly dues.

Well, I own two businesses, including a property management co that manages my own properties, and another non-RE franchise with four locations. 

Personally I'd consider avoiding the LLC in CA due to the minimum $800 franchise tax.