How To Start a Travelodge Business – online business ideas
The hospitality industry is a booming business proposition in India, and opening a travel lodge can actually create a tremendous opportunity for the owners to rake in huge profits and revenue every year. However, this isn’t usually a cakewalk. There are a lot of factors that must be taken into account before venturing into a business of this sort.
Strong Finances – key to a good start up
Before starting a business of this kind, it must be ensured that sufficient capital is available, as setting up a travel lodge requires a tremendous amount of space. You can hire a financial consultant to guide you through this. Financial consultants work with companies or individuals to plan for their financial futures by offering information and guidance on topics that include taxes, investments and insurance decisions. They will help you to assess your financial situation in order to present a financial plan that includes both short- and long-term financial goals.
A Strong Business Plan
In the hospitality business, a comprehensive yet clear business plan is what it takes to attract investors. Before meeting a prospective investor, it must be ensured that proper planning is in place as no one would want to risk their money into something that is conceived half-heartedly. As a business of this kind relies on great service, customer delight should be the prime concern.
Location and infrastructure
Once the financial constraints are dealt with and capital available with the help of a good business plan, choosing a convenient location becomes the next arduous task. The lodge must be visible to the customer and not have enough competition from a lot of other hotels, where the tourists have plenty of options to choose from. Starting a Travelodge near airports, railway stations, major bus depots is important. This will encourage more footfall in your lodge. Also many of your customers will come to you because of delayed flights/rail/road services or during break journeys.
The rooms must maintain a high level of hygiene and comfort, the service must be prompt, and the staff courteous and always eager to help. If the charges for a room for every day spent are high, it must be ensured that the huge costs are justified through effective and additional services beyond the usual room accommodation and food and beverages.
Training of Human Resource
In any kind of business, human resources are the most powerful sources. It is very important to attract outstanding personnel, how to make full use of employees “abilities and potentials in order to help achieve the organizational objectives are the questions that every leader should take into consideration.” Staff training is a very essential part of Human Resource Management (HRM), it is a path for the management to know about their employees, it is a way to help employees to make best use of their own abilities, and it is a method to assist employees to become more professional at work.
Travelodge requires a highly courteous behavior. You will get more referrals and more ratings with this a polite, humble and helpful manner. This attitude must be carried by all the staff, from the top management to the bell boys. They must have the patience to deal with all kinds of guests and attend to every trivial concern that the guests might have.
Maintaining a welcoming environment is a boon for Travelodge business. Maintain it and earn profit.
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