People today are generally more inclined to look for cheaper alternatives to hotels when visiting a certain location. Aside from numerous Airbnb accommodations and motels, hostel accommodations are also in very high demand.
That being said, if you’re looking to start a career in the hospitality industry, you should consider opening up a hostel. This business endeavor will change the way you view the world and it will introduce you to various different people, colorful cultures and unique customs that you’re guaranteed not to have a boring day at work as long as your business is running. But how do you get such a business off the ground?
Make a business plan
As with any other business, the first thing you need to make sure you define is your business plan. Simply put, without a stellar plan in place, you can’t really expect to be successful in anything you attempt further. A good business plan must contain a business concepts, financial features as well as requirements, current business position and all the developments that are crucial for the success of your business. Once you have this laid out, it will be much easier for you to stay focused on what you’re trying to achieve with your business efforts which will, in turn, enable you to make smart and calculated moves.
Obtain necessary licenses and permits
Once you have your business plan in place, you should inquire with your local authorities and see what licenses and permits you need to obtain prior to starting your hostel business. It’s important to note that these will vary depending on the continent, country, or even the area you live in, so don’t simply rely on the information you manage to find online. The necessary paperwork you’ll need to obtain will also depend on the things you want to offer in your hostel. For instance, if your hostel will feature a restaurant as well, that will require different permits from a hostel that doesn’t feature one in their offer.
Get the necessary equipment
Furthermore, when the time comes to furnish your hostel, keep in mind that you should be focusing on the hostel as a whole and not just pay attention to the rooms and their design. Sure, this is important, but so is your hostel lobby and reception, as well as all the storage areas and all other “behind the scenes” areas – such as the kitchen, the laundry room, etc. What this means is that, aside from making sure that you have all the necessary furniture in each room, you also need to make sure you have enough space and storage solutions for all the items necessary for running your business the way it should be. Therefore, check out different commercial storage solutions and find something that will work perfectly for your business type.
Define what makes you stand out
Next, in order to ensure that you stay relevant and that your future guests choose your hostel over your competition, you need to make sure you come up with a unique selling point (USP). This will be the thing that will make your hostel stand up from the crowd and thus make it more appealing to your audience. The best way to determine your USP would be to consider your target market, the location your hostel is situated in as well as the age gap of your preferred guests. For instance, younger visitors will appreciate free Wi-Fi while the older crowd will lean more towards cable TV or a designated area for brunch or afternoon tea.
Promote your business
Finally, in order to stay relevant and ensure that people are familiar with your business and what you have to offer you need to put together a solid marketing plan. Aside from the traditional marketing channels – such as flyers and pamphlets you can use to promote your hostel, make sure you tap into social media marketing as well, especially if you’re looking to get more exposure and attract a younger crowd. Different age groups prefer different social media platforms, so make sure you keep that in mind as well when promoting your hostel online.
As you can see, being able to open up a hostel and get it going is not too difficult. However, it does require careful planning and hard work, but there is not a single profitable business in this world that doesn’t.
