The hotel industry is massive and, with the right choices, there is plenty of room for more success. The great thing about the market is that, even though there are quality chains, there is always demand for an affordable hotel. No wonder everyone wants a piece of the action! However, in their haste a lot of new hotel owners make mistakes that can be fatal in the long-term. Considering that it is hard enough to achieve success in the first place, there is no need to make your life harder.
Luckily for you, and unfortunately for them, their mistakes can act as a guide for you when you open your new hotel. So, before you reveal the grand unveiling, here’s what you need to consider to make sure you succeed.
Research is often a euphemism for boring because it takes an incredible amount of time, and it is mind-numbingly dull! Indeed, you won’t hear anyone Financial Ages arguing with you about how monotonous research can be. Still, it is an integral part of any business because it gives you a better understanding of the market. With the right research, you can predict how you will operate in the first couple of months of your inception. You can also figure out how other businesses in the industry have succeeded and use them as a guide. Any information that gives you a head start is essential.
No Business Plan
Your business plan details your goals and how you are going to achieve your goals. So, how are you going to hit your targets if you don’t have any in the first place? A lot of hotel owners like to make it up as they are going along, but then there is no way of measuring your growth. In all honesty, no business can succeed without a clear and definitive plan.
Marketing To The Wrong People
Take a look at the competition and see who their target audience is. Have you done that? Good, now completely disregard everything. The number one mistake that most small businesses make is marketing their product to the wrong audience. Even the big, multi-billion dollar conglomerates do it, too, and it is easy to see why. You take one look at your competition or other successful hotel chains, and you try and copy. Where the problem lies is that massive hotel chains and your competition are different. You have certain quirks and oddities that make your hotel unique, and these oddities will also make you successful. Use your individuality to target the people who are most likely to buy your product, chiefly a night in your establishment.
Underestimating The Importance Of A Website
In all fairness, it is not just hotel owners who make this mistake. Pretty much all small business owners tend to gloss over the importance of their website. The weird thing is, they understand that is it important; they just don’t follow through when it comes to the crunch time. Some people design their site or think any design will do when it won’t. The competition online is fierce, so you need to stand out from your competitors and make a good first impression. Your website is that impression and potential customers read more into it than you would think. If your website is ugly and hard to navigate, it implies your hotel has the same qualities. Never underestimate your website, especially in this current market.
Not Focusing On The Small Details
The small details can make a massive difference between success and failure. The small details are what the customers will notice and love, and are also what will make the experience a pleasurable one. Simple things like free tea and coffee or attentive staff add that little bit extra to their stay, and they love it. Where hotels are concerned, a small detail like the atmosphere could define your whole establishment. For example, the right lighting and table linens for hotels will allow your guests to dine in a refined atmosphere. And afterwards, soft music and good wine will add the cherry to the top of the cake that is a stay at your hotel.
In It For The Short Haul
If you want to make a quick buck, the hospitality industry is not the place. For you to even start making a profit, you need to spend a lot of time and money. Hotels do not become successful overnight due to the competition and the lack of reputation. Over time, however, they can turn into big franchises that make a lot of money. Consequently, anyone who does not have any long-term objectives is going to fail pretty quickly.
Not Hiring In Time
A lot of hotel owners will hire their staff just a few weeks before the grand opening and hope all goes well. A couple of weeks is not enough time for your staff to get used to the new surroundings and sort out all of the administrative details. As a result, you are bound to make mistakes on opening night, when all you want is for everything to run without a hiccup. Give your staff, especially the ones with a lot of responsibility, as much time as possible to get the business running smoothly.
Lack Of Training
Of course, with a lack of time comes a lack of training. At least you have an excuse, to a degree, because some hotels disregard training their staff completely. If you don’t imbibe in your staff the qualities you desire, it will reflect in the service. Another mistake people make is they do it themselves. Don’t get sucked into this mistake because it will backfire. There are professionals who are incredibly effective at turning rough gemstones into diamonds. And, they will do it for an affordable price.
As a new business owner, you are going to make mistakes. That is inevitable. However, there are some mistakes you cannot afford to make for the sake of your future.