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Hotel Business Option

A well designed business plan is essential to raise finance and maximise profit. But creating a business plan that actually achieves those goals can seem a tough.

Starting a Hotel Business
To start a new hotel business a business plan need to before you start your business. This will enable you to know exactly everything you need to do in order to hit your profit objectives including: targeting specific customer groups, product pricing, all your costs, sales forecasts and marketing. Get the knowledge you have down on paper and you'll be able to see what it takes to maximise your financial results.

 

 



Bank Finance for Hotel Business
Every bank requires a business plan before they even entertain the idea of lending finance. If you have a well designed business plan, you'll be confident of your plans and financial projections and your bank manager will be inspired by your business acumen. You're more likely to receive funding if you prepare in advance.

Under Performing Hotel Business
If your hotel business is not performing to your high expectations then re-planning your business objectives and plans will help improve your results. This will highlight new customer and market opportunities and provide renewed focus to generate additional profits. We've made this an easy and straight forward task for you with our business plan package.

Experienced Hotel Business Owners
It doesn't matter how many years you have been in business, once you've gone through this Hotel Business Plan and learned how to improve customer targeting, you'll be able to improve your profits and build your business even further.

Some of the common mistakes business owners make when completing their business plans

Incomplete financials
This is perhaps the most important section of any business plan. Lenders want to know when they will have their loans repaid and assess the risk. You need to produce financial statements that accountants will endorse without question.

Over ambitious projections
Everyone thinks their business will grow exponentially in the first 12 months but in reality this is rarely the case. Your business plan must show a realistic path to profitability that proves your actual revenues and profits are comparable with your written plan.

Leaving something out
Every business plan follows a certain structure. Lenders and professional readers generally look for 3 or 4 aspects of your plan. You need to ensure you have these elements correctly written in the right area of your business plan.
 


Incorrect format
Your readers do not expect a 100 page novel nor a 1 page overview. Getting this fundamental area wrong will show your readers just how inexperienced you are.

Poor understanding of marketing
Communicating your products to your prospects is a critical success factor for every business owner. You need to show you understand your target customers, what their needs are, why they will buy from you and how you will communicate with them.

An inability to sell your plan
Having an accountant prepare your plan may save you a headache, but it is you who needs to explain to your lender or investors every question they have about your plan. You need to understand everything that is written in your plan.

Hotel Business can be started in the following manner according to the size and volume of business and capital investment.


Proprietorship

A Proprietorship can be started by single person with the following facilities:

Office

Rented or own Hotel

Staff

Facilities

Opening of Bank Account

In India, Bank Account of a Proprietorship can be opened by giving the following documents:

  1. ID Proof of Proprietor
  2. Address Proof of Proprietor
  3. Photograph of Proprietor
  4. Copy of PAN Card of Proprietor
  5. Copy of any bill raised by the firm (some banks may ask for)

But in other countries, documentation procedure will be different according to the law of land.

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Partnership

A Partnership can be made by two or more persons by creating partnership deed.

 

 

 

Registration of Partnership Deed

In India, it is not compulsory to Register a Partnership deed. But an un registered partnership have some disadvantages in the eye of law. So it is better to register the deed with the Registrar. A Registered partnership firm has all the right to sue in a court of law in India. But in other countries there may be differences in rule.

Office

Rented or own Hotel

Staff

Facilities

Opening of Bank Account

In India, Bank Account of a Partnership firm can be opened by giving the following documents:

  1. ID Proof of Partners
  2. Address Proof of Partners
  3. Photograph of Signatories
  4. Copy of PAN Card of Partnership Firm
  5. Copy of Partnership Deed
  6. Address Proof of Partnership firm
  7. Any other document which may be asked by the bank

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Different modes of advertisement like news paper, internet, pamphlet, hoardings etc can be used according to the budget.

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Private Limited Company

A Private Limited Company can be registered by minimum of 2 person and maximum of 50 persons. There are many advantages of registering a private limited company. A Private Limited company can be registered with limited liability, which will protect the personal asset of the business man in case of failure of business.

 

 

Registration of Private Limited Company

In India, it is compulsory to Register a Private Limited Company. It can be registered with the help of a Practicing Company Secretary, Advocate or A Chartered Accountant. Facilities required for Business are:

Office

Rented or own Hotel

Staff

Facilities

Opening of Bank Account

In India, Bank Account of a Partnership firm can be opened by giving the following documents:

  1. ID Proof of Directors
  2. Address Proof of Directors
  3. Photograph of Signatories
  4. Copy of PAN Card of Company
  5. Copy of Memorandum and Articles of Association
  6. Address Proof of Company
  7. Any other document which may be asked by the bank

Advertisement

Different modes of advertisement like news paper, internet, pamphlet, hoardings etc can be used according to the budget.

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Limited Company

A Limited Company can be registered by minimum of 7 person and there is no maximum limit of members. There are many advantages of registering a Limited company. A Limited company can be registered with Limited liability, which will protect the personal asset of the members in case of failure of business.

Registration of Limited Company

In India, it is compulsory to Register a Limited Company. It can be registered with the help of a Practicing Company Secretary, Advocate or A Chartered Accountant. Facilities required for Business are:

Office

Rented or own Hotel

Staff

Facilities

 

 

Opening of Bank Account

In India, Bank Account of a Partnership firm can be opened by giving the following documents:

  1. ID Proof of Directors
  2. Address Proof of Directors
  3. Photograph of Signatories
  4. Copy of PAN Card of Company
  5. Copy of Memorandum and Articles of Association
  6. Address Proof of Company
  7. Any other document which may be asked by the bank

Advertisement

Different modes of advertisement like news paper, internet, pamphlet, hoardings etc can be used according to the budget.

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