Perhaps you’ve been dreaming of owning a hotel in your town for so long. The excitement of freshly cooked meals aroma sifting through the dining area as guests relax and exchange ideas over a drink is enticing. A cultural corner to educate international guests on your country’s history is a great idea too.
You feel it is time to materialize that dream. While the option to start from scratch is available, hotel franchising is what your heart beats for currently. Luckily, thousands of other hotel establishments have passed through this route, and yours won’t be the first. On the other hand, you will discover several incredible benefits, as outlined below.
A Success Statistically Speaking
Many hotel franchise avenues have been put up before and prospered. Therefore, you won’t be the first to establish one. Additionally, the establishments have worked out. As a first franchise, your hotel has excellent chances of becoming a success. The hotel industry entails food, drinks, parties, tourism, and travel. Food is a basic need, and people will always want to travel and have fun should the need arise. Moreover, if you’re going to set up a hotel franchise as the first, you have done a market survey in your area, and it becomes certain it can do well.
Furthermore, you can also expand the franchise and go to other areas within your country but away from your locality. For every new avenue, you can implement different tactics. For instance, a franchise hotel in the city area would do well as a high-class joint for meet and greet over cocktails with good conferencing facilities, a dining area, and even world-class entertainment.
On the other hand, you can also expand the franchise hotel into the countryside. However, in this area, you can give it a country feel with nature trails and adventure spots to hang around. Outdoor spaces would thrive much too. The constant aspect for both, however, is its name recognition.
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Setting up a hotel business from scratch can be quite overwhelming. To collect the lump sum of the capital, you need an uphill task. The cost of land, building, décor, furnishing, equipment, food, drinks, and even personnel is a significant feat to achieve.
A worrying concern also is the ability to attract customers. You can establish an expensive hotel, prepare the best meal, and have zero sales, on the other hand, that is a risk you disregard with franchising like Wingstop franchise. You attract customers from the first day you open your doors to the public. The market already knows the hotel franchisor. Consumers value the top quality food and services from the hotel name and will, therefore, find it easier to come to the hotel. You don’t have to start marketing and campaigns to build your hotel name from scratch. Therefore, you avoid initial intense advertisement costs to get known to your target market.
Support from Franchisor
When setting up hotel franchising, support is immensely critical to how the hotel operations play out. You need someone to hold your hand when starting and to also help you in your day to day operations. Please note the hotel franchisor has the relevant knowledge and skills on what has worked out for the hotel through different establishments.
Consequently, they also know what to avoid achieving both your short term and long term objectives. They also help with future remodeling and hotel revamps that may arise. They can also help you in identifying the most promising location that will favor your business.
You can also get support in the form of training to your staff on the hotel worldwide standards by the hotel franchisor.
Hotel franchising, just like setting up your hotel from scratch, requires capital. However, the former doesn’t require as much money compared to the latter. Sometimes, the initial capital investment may be an uphill task for you. The franchisor can help you get funding from lending facilities by presenting the upcoming establishment as an expansion project.
Tailor-Make Your Market Needs
Please note that food is a basic need. Good food, on the other hand, is a need that people can pay substantial amounts to enjoy fine dining that tickles their taste buds. With a hotel franchise, you can opt for the high-end market or the mid-level.
The goal is to identify what gap you can exploit in your market and how the franchise can help you realize your dream. For instance, the high-end market would appreciate six-course meals with different cuisines, high-class cutlery with fine dining. On the other hand, the middle level may value a pack of fries and chicken as a staple in a fast-food restaurant.
With the above factors in mind, establishing a hotel franchise as your first is an excellent option. Plus, you also have room for expansion into new markets in the future.