Pinterest Email With this, you can easily and quickly get your hostel business up and running in no time. Hostels are becoming increasingly popular among tourists and travelers, because with the economic turmoil that the world is going through, a cheaper alternative to hotel accommodations is needed. You can take advantage of this by opening up your own hostel business. Here are some of the things that you need to set up in order to get your own hostel business up and running.
Introduction A hostel has always been regarded as smaller, slightly cheaper alternative to a hotel, and as such, in many places, a hostel is used by students and professionals when based in a place that is not their home, a second home.
Hostels have also been known to help the local economy. Despite being easier to set up and run than an average hotel, a hostel still requires a significant amount of work, time and investment before it is ready to be open for business.
Preliminary The first thing that a person interested in opening a hostel must engage himself in is planning.
Planning is crucial to setting up a good, working hostel, which not only is comfortable and provides satiety to the people living in the hostel, but also provide a good amount of profit to the owner of the hostel.
The prospective hostel owner must attempt to plan where the location of his hostel must be, the investment that is required in order to set it up, the permissions that must be taken to set up the hostel, and the other relevant logistics that are required before setting up the hostel itself.
Location The location of a hostel is of prime importance for any prospective hostel-owner. A hostel must ideally be located near a system of mass transit, such as an airport or a train station.
It may also be located near any place where a high footfall of traveller traffic may be reasonably expected, such as some historical site or temple. The location and positioning may not be the be all and end all of a particular hostel, but it may reasonably be expected to be a huge parameter determining the success of a particular hostel.
No traveller will choose to walk an extra mile from a place where they alight, or where their destination is. The prospective entrepreneur must absolutely ensure that the location must be suitable enough to guarantee traveller traffic, and according to OrangeMango.
A good example of this is The Smyle Inn, located in Delhi, which offers the following services to make itself stand out amongst peers : Arranging for these services provides an extra impetus for the business itself, making it distinguishable from other hostels which are starting to become an area of competition in the Indian market.
All of these require investment, and it may be a good idea to have a significant amount of starting capital raised through various means to fulfil the requirement for a hostel to not only be a temporary home for travellers as well as being a comfortable one.
Legal One of the most important parts of setting up, however, is the legal permits that are required before the hostel may be set up.
Hostels require various types of permits as may be prescribed by the local law, and require registration.
These include a number of permits, including a trade license for carrying on the business of the hostel, a No-objection certificate from the local municipal corporation, the municipality, or the local panchayat, as the appropriate body may be.
The local police station must also be informed of the hostel being brought up, and its location as well. A trade license has become important in various parts of the country for the reason that in many places, they are thought to be a commercial establishment.
The Bruhat Bangalore Mahanagara Palike BBMPthrough a resolution inmade registration, and a trade license compulsory in order to operate a hostel.
Further, in order for the hostel to come up, the nearest self-governing body such as the municipal corporation, municipality or panchayat must be informed.
Interested applicant may apply to the relevant corporation, and after due examination of all papers and the premises, a No-objection certificate may be provided.This is a community-written guide that contains ideas on how to start a hostel.
It is a collaborative writing effort. If you have ideas or photos to add, just click on the the "edit" links and start adding content. Wikipedia has a good overview of business plans.
Small Business Administration business plan advice; Business plan outline; Business plan advice; Sample Outline for Hostel Business Plan. TO-DO: please add generic content that is specific to the hostels; Sample 1. A business plan should be about 30 pages plus justifying/supporting attachments.
Bros o, this Aristo business model is not sustainable o, what if the Aristo business plan vanish with time, 25 years ROI no be moi moi, Re: Building A Student Hostel: Profitability And Challenges by Reflector: pm On Jun 25, Jun 28, · If your business is larger or more complicated, divide your staff between hostel management, reception, security, cleaning, cooking, etc.
11 Register your hostel with international hostel organizations and booking websites%(). SRM University is one of the top ranking universities in India, offering a wide range of undergraduate, postgraduate and doctoral programs in Engineering, Management, Medicine & Health sciences, and Science & Humanities.
Some hostels even market female-only areas of the hostel to guests. Examples: Plus Prague Hostel - a "girls-only’ space allows you to forget you’re a backpacker and be a girl again. There are big bathrooms, cosmetic tables with large mirrors and hairdryers.