The key to running a successful business is identifying a market with growth potential. For example, if you set up in the hotel trade, you could find that you tap in to the ever growing tourism market and earn a fortune. There are lots of different kinds of establishments you could run: a B and B, and small hotel, guest house, or something else altogether. In this post, we’re going to concentrate on how you can buy and run a small hotel in the UK. Read on to learn more:
Who Running a Small Hotel is Suited To
If you’re thinking of running a small hotel, experience in the hospitality trade will help you. Your guests will expect a certain quality of service from you as a hotel, so it’s important you provide it. There are no actual professional qualifications required for you to begin trading, but there are a variety of management guides and training programmes for people looking to start their own hotel business.
The ability to work with different kinds of people is essential, as you’ll deal with them every single day. If you’re used to organising and dealing with staff and the public, then you could do well. People skills are everything in this trade. A keen eye for perfection is also essential, as your guests expect everything to be perfect. The food, the standards of the rooms, literally everything should be in the best condition possible. Guests aren’t very tolerant to rudeness or dusty rooms like they may have been in the past, and they always expect value for money.
Decide What Kind of Hotel You’d Like to Run
There are different kinds of hotels you could choose to run. It could be a small, cosy place for couples to retreat for a weekend break, or a larger establishment more suited to families. This will all depend on the location you choose, the style/decor you go for, and the kinds of amenities you have on site. Having a pool at your hotel is recommended for all kinds of clientele and could even get you more business. You can find everything you need for your pool, including an extensive range of swimming pool heat pumps online at 1st Direct.
Unfortunately there is a load of legislation that comes with running a hotel. You need to be aware of health and safety regulations, food hygiene, and employment law as well as other things.
How much you earn totally depends on where you’ve chosen to have your hotel. You can try to keep your earnings below the VAT threshold, which could mean you’ll make 40% of profit on turnover. There’s even the option to try to earn as much as you possibly can, but you’d need to earn more than £100,000 to make it worth your while.
If you are determined to run a successful hotel and have done your research, then you have every chance of doing well in this business. Make sure your customer service is up to scratch and you could have a profitable, popular hotel!