Hotel Business Plan in Nigeria – do you know that hotels, guest houses and lodge business is an important aspect of tourism? Most developing countries that have historic sites have leverage the hospitality industries to grow their tourism as well as their country’s economy. Nigeria as a developing country has in recent years been making strides in different sector of the economy, from entertainment (music, art, movies etc) to banking, technology, construction, media and many other sectors, tourism is not left out in all these development, with businesses growing and expanding tourism has become a front burner in terms of development. Alternative accommodation became a concern when businessmen and women starting moving out of their location to other places to setup a branch of their businesses.
In essence, the hotel and guest house business has become an essential when preparing your itinerary. Going to other state in the country for either business or holiday entails that you should at least budget for your accommodation, and most times you would want a highly rated hotel (like a 2 star hotel) for your comfort. The question now is, why do we have hotels, guest house or even lodges in very places in their numbers?
The answer to this question is simple, people move to different places and must need comfortable accommodation, these homes away from home usually provide the needed alternative for those who need it. Hotel business is a necessary because there must be people travelling on the daily bases. The good thing about hotel business is that it comes with loads of profits, no wonder in some states, you tend to see more than a hundred hotels, guest house, motel or lodge, in some streets in Nigeria you can get up two (2) to seven (7) hotels and all of them will still be making profit.
Why Hotel Business And How Profitable Is A Guest House?
From the introduction, you can actual outline the reason why an individual with the financial resources can set up a hotel business. The tourism sector of the Nigerian economy has been estimated to be worth about five billion dollars ($5,000,000,000), and the exciting thing about tourism in Nigeria is that the estimated figure as stated earlier will increase as time goes on. Just like many business owners who do not have the knowledge of a business but have the financial muscle to set one up, in this case you can employ professionals who can help run the hotel business on your behalf. Hotel business in Nigeria has become a very big industry, in fact in some states in Nigeria (e.g Imo State) has over three hundred hotels, motels, guest house, lodge in the state.
The truth is that not all of these hotels are big hotels, some are small hotel with limited rooms and facilities, it doesn’t mean that the business venture won’t maximize profit, although big hotels have more facilities and offer more services than smaller hotels which in turn guarantee that they get more customers, however, you can start small and grow your business. There are hotels that started with few rooms and no gym facilities but over the years, will go ahead to added more services. Now a secret, some of the things that attracts customers apart from the size and facilities in the hotel, things like customer relation, a quality customer service powered by good management skill, these a few among many other things that can help attract customers and grow your business.
How To Start A Hotel Business In Nigeria?
One of the question I keep getting in my mail or WhatsApp chat is “How do I start a guest house business?”, “How do I write a business plan for a hotel in Nigeria?” and many other related question as regards to setting up or starting a hotel business in Nigeria. I have made a list of things you should have in place before going ahead with the setting up of your hotel business;
- Get A hotel business Plan; Getting a business plan gets you closer to setting up your own hotel, in a situation you can’t write one, you can contract professionals to help you with the document. At least by now you should have known a thing or two about hotel business. One important thing that a business plan will do for you is that it can also be used to either access loan facilities or you can use it to apply for grants, it can as well be used to source for fund from investors.
- Location Of The Hotel/Guest House, Lodge; Now that you have a business plan and have a little knowledge of the business you are getting into, you need to carefully choose your location, with the urban or rural areas, location is very important, a very busy area won’t be ideal to locate your hotel business.
- Decide On The Type Of Hotel You Want; By this I mean are getting a new hotel facility or you’re buying an already existing hotel, this will be determined by your intended capital
- Do a little search on other hotels, lodges or guest houses or motel, learn their method of operation, customer service and general hotel management.
- Get A Business Name And Register It; Another Important aspect of setting up a hotel business, usually this should be the first thing you must have included in your list of things to add in your hotel business plan. Get a catchy name, one that is easy to remember, an example is Sheraton Hotel, Barcelona Hotel, Ibro Hotel, Presidential Hotel etc, an easy to remember name will be nice since you also target visitors from other state, it will be easier to describe to people who might not be conversant with the new environment, so the name can be easily remember for direction. Now you have a good name, proceed with registering the business with Corporate Affairs Commission (CAC), an agency in charge of registering new businesses, you can make use of the official CAC website to process the registration. Get permission from both the community especially if you want to build from the scratch, local government and state government through relevant bodies, this is to avoid ruining your business when you eventually start operation.
- Business Structure; You need a very good business structure to successfully run your hotel business, this entails hiring competent people who will either work for you or hire a recruiting agency to help out with that, however, you will have to make specification as to the type people you wont to work in your hotel, the number of workers, qualification etc.
- Advertisement; Use fliers, word of mouth, social media, television and radio jingles to advertise your new business venture.
Some Equipment you must have in your new hotel;
- CCT cameras
- intercom telephones
- Television sets
- Security alarms
- Power generators
- Refrigerators (In different sizes)
- Fire extinguisher etc..
Now you should be able to tell what you need most in setting up a hotel business anywhere in Nigeria, Note that prices of commodity varies and are subject to change due to the economy.
Get Your Hotel Business Plan in Nigeria Now. To place an order, pay N10,000 to
GTBank (Guaranty Trust Bank)
Account Name – Okite Joseph ikenna
Account No – 0044083736
After payment text your name, your e-mail address and bank teller number to 07039768549 and you’ll receive your HOTEL BUSINESS PLAN.
Related Posts
Shea Butter Production Business Plan
Crèche Business Plan In Nigeria
Daycare Business Plan In Nigeria
Photography Business Plan In Nigeria
Nursery And Primary School Business Plan