Let me begin this article with a story. There were two friends named John and Tom, they both were in their mid twenties, and both had big dreams. John was a techie. He was really good with systems, and his company paid him a really good salary for that. Tom was a chef at a reputed eatery. He too was really good at his job, and was well paid. They had well settled lives. They were happily married, and lived a luxurious lifestyle. Can anybody ask for anything more? John was content with his life, but Tom was not. He wanted to be an entrepreneur. He wanted to own a hotel business. John although had the skill required to start his own IT firm was unwilling to come out of his comfort zone. He was worried about various hurdles such as working capital required to start his own firm, and what if his business idea flopped? Tom on the other hand thought differently. He wanted to be the boss. He believed in “no pain, no gain”. He took a loan and started his own restaurant. Initially, it was tough but slowly but surely, his business picked up. After five years of hard work, he had his own chain of restaurants, and mind you, they were well known too. Tom has built an empire for himself and for his generations to come. On the other hand, John is tired of slogging, and frustrated with his appraisals. John has lived a comfortable and stable life but is not sure of his future.
The story above illustrates how little risk in life makes a huge difference. Getting a good job is a good idea, but deciding to become an entrepreneur is a great idea. If you have already decided to become one but wondering which startup would give you good returns, stats have proved that owning a hotel business is a really good idea.
Here are some facts for you:
- During recession, only the education, hospitalisation, and the hotel industry still grew at a healthy rate.
- 85% of Americans prefer dining out.
- About 5% of World’s richest people are Hoteliers.
Apart from these, there are various reasons why owning a hotel business is a great idea. Owning a hotel business requires the owner to have little or no working knowledge. The capital required is basic, and there are many financial firms and institutions that will happily lend you money for starting a hotel.