Wednesday, July 27, 2011

I would like to start my own hotel chain. I have saved $1,400 and dont want to lose it all? -

I really like hotels chains as a theory and with my extensive experience in sleeping and paying for a hotel key I have what it takes to be successful. I just really don t want to lose my $1,400.

Multiply your money by 500, and you will at least have at leat one starting point in your dream. Also sleep and getting a hotel room don t automatically qualify as experiance.

Oh my, first no one is going to take you seriously without credentials to back you up. You need a degree to show you are capable of managing a hotel yourself. Get a degree in hotel management or business management. Hotel Management education is a must to be able to understand how to run your business effectively, including accounting, hiring employees, costs, spending budget, and how much supplies costs. $1400.00 is definitely not going to start you even one hotel. Let alone even enough to build any part of it. It depends on the hotel you want. Style, luxury etc. Anywhere from a hundred thousand to millions to build one. I don t mean to bring you down, but just helping you get some practical logic thinking in your mind so you don t set yourself up unprepared. You also have to purchase land as well. Land costs $20,000-$100,000.00 too. Then you have to have building permits, hire a construction crew, construction costs, zoning, etc. That is why I suggest you go into hotel management degree first. Save a wayyy lot more money than you have. It can cost that much to stay at a hotel for a week straight. So, yea, right now what you have is a dream. But it does start with a dream before success is success. I Hope I helped

What about monopoly. I hear you can build a hotel chain there pretty cheaply. If you ever need a partner let me know I am always on the lookout for someone with relevant experience and good financial backing.

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