Running an accommodation business is not a run in the park. One needs to consider numerous overlapping factors before they decide to kickstart a business that will not only change their life (for better or worse) but probably affect their family too. We live in an oversaturated market, so in order to ensure success, it is crucial to address all of the contributing factors even before the business gets off the ground. If you are considering such an entrepreneurial endeavor, here’s how to kickstart an accommodation business.

Be pragmatic

What sort of accommodation do you want to open? Your wishes can depend heavily on your economic health and immediate circumstances. Realize your vision and shoot for the stars, but be pragmatic. For example, some people are simply better off creating a charming B&B experience out of the space they already own instead of building something from scratch.

No matter what you decide, it needs to be a space tailored to your possibilities. It’s better to go smaller and concentrate on quality instead of quantity – remember, these days, the accommodation business is all about the personal and unique approach. If you want to be completely wise and sensible about the entire matter, you should definitely consider looking at cost programs and do some quality research to see how affordable the entire thing is and how close to your original vision you can get to without crashing and burning.

Location, location, location

But before you start browsing for the best contractors to build your glorious edifice, you need to find the right location. On the one hand, this will be heavily dictated by the marketing forces of the real estate and local government, so you should single out certain priorities – for example, the proximity to a highway should take priority over the proximity to downtown, if it is a matter of money.

Also, the proximity of shops, bars, retailers and medical facilities (especially the emergency room) is also something that should be on your mind. As far as you are concerned, it is not about perceived glamour, it’s about infrastructure. It is you who should provide “glamour” by arranging the place appropriately and the rest will take care of itself.

Solid foundations

It does not matter whether you are building a mini-hotel or a comfy house that is supposed to be turned into an Airbnb heaven, solid foundations are, quite literally, the cornerstone of any successful accommodation business. This is why you should seek out contractors that are proficient in handling devices such as a concrete laser screed tool, which is the best way to create a stable and truly flat terrain for your building.

Create a realistic and comprehensive timeline which will be communicated well between the two parties – in this case the, contractor and you. Each stage of the building has to be carefully though out and it should leave the professionals with enough time to build it properly. You should also consider prefabricated methods, which will lower your expenditure and create a breezier work environment for the professionals.

The paperwork

As someone who is about to kickstart a business, you have to meet certain standards according to the law. In other words, you need to fulfil a hierarchy of requirements – from local to state and federal. First, you need to apply for a planning permit before the building phase begins. This permit is granted from the local council.

However, if you are just bed & breakfast sort of arrangement, than you don’t actually need the planning permit, but registration is obligatory. Of course, you also need to register your business, its name and nature, and it goes without saying that you also have to register for the tax file number. You will also need to fulfil sanitation standards as well as some safety precautions, but it can be hard to discus these particular matters as they can vary depending on the state and, indeed, continent.

In order to be successful in the field of accommodation business, you need to have nerves of steel. On the one hand, you will have to tackle an endless number of technical and logistical issues that will consistently be springing up around you. On the other hand, you have to be socially adept and ready to deal with different kinds of customers. The ability to stay calm is what makes or breaks you in this business and that is why so many people that run accommodation businesses practice yoga or other disciplines that help in relieving stress. Finding an outlet can be a life saver.

by Lillian Connors