Leasing of a standard facility that can accommodate your guests and staff members and of course the purchase of daily supplies toiletries and food ingredients et al are part of what will consume a large chunk of your startup capital, in essence, if you choose to start the business on a small scaleyou will still have the need to go source for fund to finance the business. When it comes to financing a business, one of the major factors that you should consider is to write a good business plan. If you have a good and workable business plan document in place, you may not have to labor yourself before convincing your bank, investors and your friends to invest in your business. As a matter of fact, you will need approval from the local council and other regulating authorities in the city you intend opening your hotel facility business.
Use figures where necessary Simplicity and clarity. It is usual for the person who has the authority to approve your business plan for funding assistance to have a very busy schedule; also it is equally possible that business plans from other entrepreneurs are competing with your plan for funding.
As such, your business plan needs to be simple and clear. This can be done by: Where the business plan is bulky, the person reading it may get tired even before forming opinion about the business proposal.
This might rub a business plan the due consideration it deserves. To avoid this, all unnecessary details are removed from the business plan.
In fact, only essential information necessary for the reader to form opinion and take decisions should be left. This makes it easier for people to read and understand the plan. Efforts should be made to ensure that what is written in one section of the plan fits together with what is written in other sections.
In fact, all the sections should add up to make up the whole businesss plan. For a business plan to be a valid document it ought to be as real as possible. That is to say that it should be as close to reality as possible. Operations, market analysis, estimates of sales and expenses should reflect what is happening in real life.
Where a business plan models what obtains in real world situation, it becomes an instrument on which decisions could be based. Use figures where necessary. Most bankers or investors that would read the plan are highly numerate, mainly thinking in terms of numbers.
Experience has shown that most banker and investors are impressed when ideas are backed with figures.
In order words, it is advantageous to quantify wherever it is possible. The Business Plan and Intellectual Property Protection Developing a business from the scratch requires a lot of intellectual capital that ought to be protected.
During the process of documenting a business plan, some of the intellectual capital that form the basis of a good business might need to be disclosed especially where the plan is used to attract investors and lenders. In this instance, wide circulation becomes potentially dangerous. Where the business plan is discussing a business idea that have not been patented or copyrighted, it becomes very wise to include a strong non-disclosure statement on the cover page that states that information in the plan is not to be disclosed.
In some instances, the cover page of the plan, in addition to signing the non-disclosure documents, may carry the ISBN number showing that it is copyrighted.
To have an integrated view of your business — it discusses all aspects of the business. To keep you focused on your goals and strategies — the plan serves to remind you of the goals and objectives of the business.Hotel Business Plan in Nigeria – How to Start a Hotel Business The hotel business is one which has become a very lucrative business presently booming in Nigeria.
The tourism sector of Nigeria is valued at way over four billion . Creating a business plan is an essential step for any prudent entrepreneur to take, regardless of the size of the business. Skipping this step is tantamount to planning for business failure.
Skipping this step is tantamount to planning for business failure. Bed and Breakfast Hotel Business Plan The long-term goal of Coach House Bed and Breakfast (Coach House) is to become the best choice on Tybee Island, Georgia for temporary lodging by creating a differentiated experience capitalizing on personal service, the historical nature of the Coach House building, and its unique location in one of the most attractive parts of the Old South.
For any business intending to raise capital in Nigeria either for start-up funding or for expansion, it is vital to have a quality and winning business plan. The plan will attract lenders, grant providers, business support groups, investors and .
Hotel Business Plan in Nigeria. This sample Hotel Business Plan In Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Note, Competitions etc.
Hotel Business Plan is a lucrative business that needs a lot of strategic Planning to start and a business coach like Dayo Adetiloye to help you start the Implementation. Best Hotels in Nigeria Planning a trip to any state or city in Nigeria is as simple as visiting Jumia Travel where you can book any of the hotels in Nigeria securely.
Demand for luxury or 5 star hotel rooms in Nigeria is increasing mainly in the political capital Abuja and the commercial hub Lagos, Port Harcourt, Ibadan, Enugu, Abeokuta.