Accommodation and food services for travelers on a budget can be an interesting business option for those who plan to enter the hospitality business. If you have ever been in a hostel or hostel and you thought that you could offer something better, then we share the keys to creating a successful business in the world of hospitality.
Location
The location of a hospitality business is essential for its success, therefore you should always make sure your business is close to other places of interest. Ideally, think of a location where restaurants, entertainment venues, and nightlife are easily accessible.
You must not forget that transportation is vital, so your hospitality business should also provide easy access to metro stations, bus lines, airports, trains, taxis, etc.
Another fundamental aspect is safety, therefore before opting for one or another location, make sure that it is an area with surveillance and close to the main emergency services.
You should also carefully consider the impact of your business on the community, as well as the possibility of offering a multilanguage service.
Define your business
Decide what is better, rent or buy; consider the fact that with the rent can be difficult to get approval from the landlord, however it represents a lower cost and also the value of the assets is lower.
When it comes to finances, the important thing here is to plan ahead. Remember that local banks may be reluctant to finance a business in a foreign country, therefore private equity may be a better option.
Maximize your sources of income to strengthen your business, that is, in addition to accommodation you can offer additional activities such as excursions, visits to museums, bike rides, etc.
Consider all your costs, including rent, professional fees, hospitality machinery, utilities, maintenance, marketing, personnel, contingencies, etc.
Plan for the off-season; Remember that there are times of the year when tourism decreases and consequently your business must be prepared to face it.
Shape your business
Start by defining your target market and then equip accordingly. The ideal is that invest more in travelers They expect a little more luxury and convenience, rather than wasting their money if your business is targeting backpackers.
Keep your comfortable guests; While air conditioning is expensive, it's worth it as no one likes to sleep in sweltering heat.
Adequate facilities They are essential to offer a quality service, therefore you should consider things like television, telephone, room service, bathroom, recreation areas, etc.
Personnel and Marketing
You must make sure you have staff for the reception who take care of reservations, administration and provide timely information to guests.
It is also a good idea to find staff who can perform various functions such as cleaning chores, preparing breakfast, giving advice on places of interest, etc.
A website on the Internet It is one of the best way to advertise your hospitality business, therefore it is recommended that you invest in it.
Include your business in online directories such as Hostel World or HostelBookers, There are many websites where you can also promote your business.
Do not forget to seek advice
Establishing a hospitality business is not as complicated as it seems, however it is important that you seek help from organizations that have experience in the sector such as chambers of commerce, local hospitality associations or business associations. Also do not forget that the staff training It is essential to offer a quality service and obtain the best results.
There is no doubt that all these factors are key for a hospitality project to start and maintain itself over time until it achieves its objectives. In addition, if we have time, it is also advisable to work on social networks and Tripadvior-style comparators, always taking care of your client so that they are satisfied and leave good recommendations.
All the best