Let’s say you’ve got a great idea for a hotel startup. There’s just something in you that says you want to take care of others. It’s a lucrative business and one that can pay off plentifully. The thing is, in order to get it off the ground and running properly, you need to take steps.
Anyone can just open a hotel, but in order to keep it from going out of business, you need to know the proper steps. Without these, you might as well “check out” because it’s just not going to work. There are procedures you need to follow to get the most from this hotel startup idea.
With that, here are five things to keep in mind when beginning such a business.
First Step To Building a Hotel Startup? Location, Location, Location
When beginning an idea for a hotel startup, it helps to have a good spot in mind. The tourist spots like California and Florida may sound like a cool idea. However, try to remember that there are already a lot of hotels there. The question is what you want to do to stand apart.
With that, check around for areas for your hotel startup where it would be most useful. Going right next to a Disney park is likely a no-no since most spots already have that convenience covered. That said, check for some of the outer tourist areas. How about a nice spot in a city nearby? Or for that matter, something on the road? Some of the best little hotels can be found during the journey, not necessarily at the destination.
See If It’s Viable For You
The next thing you need to do with your hotel startup is seeing if you can afford it. After all, you have to pay rent for a large space, as well as the convenience items needed for each room. Not to mention the help to maintain and clean the rooms. And then there are other amenities to consider. Do you want to offer cable TV? You aren’t going to run a hotel without some kind of heated pool, are you? Remember, you want people to stay here and come back here for another trip – not create a horrible experience.
So put together a plan for your hotel startup. Cover the basics and then any extras you want. Then see if you have the budget or, possibly, more importantly, the financing from lenders to get it off the ground. Otherwise, you’ll never get your doors open.
Don’t Forget the Paperwork
Keep in mind when you first start a hotel startup, you need to have the proper paperwork set. That includes zoning and making sure everything is within the city. What’s more, you’ll also need some sort of building permit if you’re starting your hotel from scratch, instead of leasing one that’s already built. That could take a lot of work, but it’s worth it later on when it comes to avoiding fines.
For that matter, make sure you also have insurance. You never know when a fire will break out, or if weather conditions will become unbearable. It helps to have that in place to not only protect yourself but also your customers. Otherwise, you’re high and dry the minute something like a wall or ceiling collapses.
What Kind of Marketing Plan Do You Have?
The next step to setting up a hotel startup is having the right plan to attract customers. What makes your hotel stand out? Is it the location? Do you offer services that stand out from others? Is it a fun experience to stay there time and time again? Draw up something that works out well in terms of marketing, so you aren’t left looking like others on the market. You don’t necessarily need huge advertising either – just a plan that will look good as you attempt to attract a bigger customer base. It helps to have a savvy marketing pro or social media team on board to help you carry out that vision.
Make Sure You Set Up Your Hotel Startup Properly
Finally, don’t rush to open. Just don’t. Because you want to make sure everything is just about right when it comes to your hotel start-up. Training your staff, doing safety checks, making sure everything (especially the Wi-Fi is up and running), checking for local promotions with restaurants, and so forth. If not, even the slightest thing could go wrong and you could find yourself in a world of trouble.
Remember, a hotel is your dream, and you want to treat it like something that others will dream about. Without that vision in their heads, they won’t return; and you’ll just be another roadside memory. Think things through, plan accordingly, and be ready for anything. Hope this advice checks out well with you!
The post Don’t Start a Hotel Startup Without These Important Steps appeared first on KillerStartups.
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December 26, 2022 at 06:02AM by Robert Workman, Khareem Sudlow
