Do you wish to established a hotel business, if yes this article is for you, hotel business is among the most locarative business, but it has to do with a lot of money, if you want your hotel to comprise of multiple features.
Here are step on how to purchase or procedures on how to established a hotel business,
firstly, for you to established a hotel business in Nigeria it has to do with the location before estimate, because different location has different land estimation in term of cost,
you can’t think that all land are thesame amount, no that’s not through, there are many step for you to established a hotel, here are steps below
Purchasing of land, because its impossible to lernt a land to build own it,
Some path of Nigeria land are very cost, but its also an advantage if you’re able to purchase that type of land because, mostly if you see land is cost it depends on activity going on around that place.
places like Lagos, ibadan, Enugu, Abuja, Kaduna, kano and other places as wellthat are highly cost, but there are also advantage as I said earlier,
land should be around 300fit by 300 fit, if can’t afford more of it, it shouldn’t lees then the above mentioned for betterment of the structure.
After you’re have purchase land you need to look for architect and engineer for a better structure, and a well Modified building which if any passer by see he will like to come,
you will now build it, that why i told you earliest that it required a lot of cash to established a hotel business in Nigeria,
Let to do some simple expirement assuming you’re purchasing a land in Abuja.
land worthy 1.5 million,
architect design it for NGN250,000
Construction expenses is 1.7 million
Registration of business owner some other Hotels owner association fess all is approximately NGN100,000
equipment, such as plasma TV for all rooms, Resolt and bar decoration, chairs, beds, cupboard, and others, all cap at 1 million
Not that the currency above are Nigerian currency, if your are reading this article and you’re not from Nigeria, you can used currency calculator to get the actual figure for your country.
Now let’s calculate this figure together
The total amount for the assumption calculated as 4.3 million that if you’re building your hotel business in Abuja,
But there are other places that the amount will noy be high as we calculated the above one.
Management is the key successful of every business, if there’s know good management it will quickly crashed,
Consider those your employed your staff such as waiter’s and waitress, especially the top staff like manager and other,
those you employed play the most rules for a business to survive,
what are challenges face as a Hotels owner
In every business the owner actually faces challengea but how you deal with it matter, now as a hotel owner many on usuall thing might happen in your hotel such as killing of guest and other, but if precaution measure are taking such will never happen,
No lot of sales, and you must pay staff
prostitution around the squares and inside hotels room as well, these are not things Society are proud about because its illegal,
Conclusion: though hotel business ia a good career but if you know how to manage it