If you have that entrepreneurial spirit burning inside of you, you’ve likely thought of a million and a half ideas about how you can create a business of your own. While some people think about ways they can create a new product or offer a previously unknown service, most people who end up going into business for themselves simply start a classic business on their own. For some, this means opening a business like a hotel. So if this is something you’ve considered but aren’t exactly sure how to get the ball rolling on this idea, here are three tips for opening a new hotel.
Pick The Right Town To Operate In
Before you can begin taking any steps toward starting your own hotel, you first have to find the right town to open this business. Not only will this mean finding the perfect area to open a new hotel, but Michael Forrest Jones, a contributor to Forbes.com, shares that you also need to know what type of hotel is going to do best in any given area. You don’t want to try to open a hotel in an area that either doesn’t need another hotel or that will have too much competition without enough demand. Additionally, you don’t want to put your money into creating a hotel that will either be too cheap or too expensive for the people that would normally be visiting that area.
Choose The Right Size and Amenities Offered
Once you’ve decided what town you’re going to build your hotel in and what type of hotel you’re going to create, you’ve now got to determine the perfect size for your establishment and what other amenities you want to offer. According to Dr. Patrick Gleeson, a contributor to Chron Small Business, hotels with room numbers between 50 and 100 often are the easiest to manage and find success with. In addition to the rooms, you also want to determine whether you want to offer things like food options, on-site laundry services, or outdoor recreation like basketball courts or pools, all of which will require you to pour concrete slabs and develop the exterior of your hotel along with the interior.
Hire A Good Manager
As the building of your hotel starts winding down, you should begin your search for a good manager to oversee the day-to-day functionality of your hotel. According to Abby Hardoon, a contributor to SmallBusiness.co.uk, a good hotel manager will have impeccable organizational skills and will be able to help you create plans for the future success of your business in every area. While it might take some time to find this perfect person, it’s worth the hassle to make this all-important hire.
If you’re considering opening a new hotel in an area, use the tips mentioned above to help you find ultimate success with this endeavor.