Starting Accommodation Business
What are the types of accommodation? What are the services and amenities that you will offer? Where is the best place to set your accommodation business?
People who spend their time travelling, going on a holiday, have business trips will always look for a place where they can rest or spend the night and this is why accommodation business will be very in-demand.
Once you decided to start an accommodation business you need to consider what type it will be, as there are different kinds, with different services.
Types of Accommodations
Hotel, Hostels, Guest House, Resort Hotel, Apartment, Inns, Restaurant with room, Private Houses, Lodge, Country House, Bread & Breakfast, Self catering, Bunk House, Halls of Residence, Tents for Campsites, Touring Caravans, Farm, Country Hotel, Camping Barn and many more.
Whatever may be the type of accommodation business you will choose it must go well with your customer’s budget and should have its own distinctive class for attracting more clients.
You may just start on a cheaper kind of accommodation but it does not matter as long as customers will enjoy the same service that 5 Star hotels can offer.
Customers will always consider accommodation rates, price of your meals, location, having easy access to the places your customer may want to go during their stay, local transportation and other facilities.
If your target markets are students, you have to set your rates to an affordable price that is easy on the budget as some of the students may be working on their own for their studies. If you it would be for people spending their holiday or for business trips make sure that you are able to provide packages for them.
This is very obvious, if you would like to have halls of residence you must place your accommodation business near school or university or if you are targeting customers who are newly wed or taking their family holiday then you need to set your accommodation business in a place where there are surroundings that they will enjoy viewing.
Customer will also consider the facilities and amenities that you can offer them. Here are some examples of added services you can provide them: High Velocity Internet access, Telephone usage, In-room safe, Mini bar, Pay TV, Bathroom with Bathtub, Office area where they can work comfortably.
Things to Consider Before Starting an Accommodation Business
- You have to create a business plan for your accommodation business as it will require a large amount of capital for you to start. You need to consider if the location where you place your business will attract customers.
- You also need to set your employees expectation that you will be accommodating customers even during holidays and weekends.
- Like other business you need to obtain planning permit, health sanitation permit as you will opt to serve food to your customers, federal and state licenses, business registration and insurances for your business and your staff.
- Sufficiency of funds to sustain your business until your investment will be return and will help your business to develop.
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