The worldwide travel and tourism industry is a lucrative and popular sector that is constantly increasing in size and revenue. If you have always dreamed of owning your own hotel and being your own boss, investing in a hotel franchise can deliver everything that you want from a business and surpass all of your expectations. So, what are the top benefits of hotel franchise opportunities and why are they ideally suited to you?
The global hotel industry demonstrates continual growth and soaring demand. Between 2014 and 2018, the size of the hotel industry increased from US$466 billion to US$600 billionworldwide. There is likely to be even more demand in the coming months as global restrictions ease and eager travellers begin to take more trips. Therefore, you are assured of continuous income and it can be a lucrative career move.
Scope for choice
As there is an array of varied hotel and tourism franchise opportunities on offer, you can find the one that really inspires your passions. If you have always dreamed of owning an opulent and luxurious hotel, then you will be able to find what you’re looking for. Similarly, if you prefer to run a budget hotel that caters to young families or business people, there are many opportunities in this area too.
Enjoy the advantages of an established brand
Hotel franchises tend to be well-known and established companies that have a preexisting customer base for you to tap into. This means that you will not need to expend time, resources and money on setting up marketing campaigns in order to generate custom. All the hard work in this area is already taken care of for you. Travellers will already recognise your brand and want to come and stay at your hotel.
Assistance with costs
If you are going it alone, setting up a hotel can be a costly business, especially if you are building from scratch or renovating your premises. However, luckily, some franchisors will provide cost assistance as well as mentoring and support throughout this process to ensure that you have the right premises for your hotel franchise.
Staff training programmes
One of the great advantages of investing in a hotel franchise is that many franchises have already devised structured training programmes for the staff that you recruit. This can save you time, money and stress when it comes to getting your employees ready for work.
With a hotel franchise, you can be as involved or uninvolved as you want in the daily running of the hotel itself. If you choose, you can be extremely hands-on and present at the hotel to oversee it or you can delegate all the tasks to your management and staff while you take a back seat. This allows for more choice and freedom in your career.
Investing in a franchise minimises your investment risks compared to starting your own hotel business from scratch. Many start-ups struggle for many years before they are successful and a significant percentage of independent small businesses fail within the first few years. By investing in a franchise instead, you maximise your potential for success because there will be brand recognition for your hotel business. Brand trust is extremely important in the market and this will give you the edge over competitors right from the very start.
Potential to run your business remotely
As your own boss, you can choose exactly how you want to run your business. A hotel franchise offers you the opportunity to work remotely from the comfort of your own home. Once you have your team in place at the hotel, you can simply video call with them and do any of the necessary paperwork that is involved in running a hotel from a home-based office.
Excellent work/life balance
Working as your own boss gives you increased flexibility. You can have more time to spend with your family or pursue the hobbies that you love. Having the chance to set your own hours that work for you can give you the work/life balance that you crave whilst still providing you with the essential income to support your family.
Fulfill your career ambitions
Achieving successful career goals is excellent for boosting happiness and giving you career satisfaction. Watching your hotel franchise flourish can be extremely rewarding and can allow you to realise lifelong career goals that you may have previously believed were not achievable. Whether you are new to the business world or are a seasoned professional, the support from your parent company will help you to achieve your goals.
Running a hotel can be fun!
If you do choose to take a role that is more involved when it comes to the daily running of a hotel, you will quickly find that the hotel business is an enjoyable one. The constant stream of guests from across the world allows you the opportunity to meet people from all walks of life and take pleasure from knowing that you have made their stay a memorable and enjoyable one.
There are a wide range of franchises out there just waiting to be discovered. Hotel franchises aren’t the only types of franchises, for there are cleaning franchises you can run from home, even automotive and retail type businesses. Get your foot on the franchising ladder today and be your own boss with a franchise business.
*This is a collaborative post