Hostels business.

Ephy

Verified member
Use SEO descriptive or detailed title that is self-explanatory explanatory.
A hostel is a place where people do stay at a fee mostly houses set for students in various schools. This business sounds pretty good if situated in an area that has various schools including universities and colleges. Also location matters alot how far or near the hostel is, more parents prefer their children's to stay in hostels rather than renting houses.

This business pays alot and its a lifetime business in that you would have invested in buildings or houses. Houses need less attention compared to other businesses only little renovations after a very long period of time. Prices also matters alot in that you cannot take much money compared to rentals,obviously people will prefer rentals to hostels. Therefore you must charge your clients depending on the location and demand of the houses.

This sounds more profitable and less time demanding than any other business. Remember houses last for years not like other business they go with season.
 

DonnaDickens

New member
We also need to pay attention to which universities will be nearby. Some of the universities can provide cheap dormitories for students.
 
Comment
OP
OP
Ephy

Ephy

Verified member
We also need to pay attention to which universities will be nearby. Some of the universities can provide cheap dormitories for students.
Yeah you got the point but not all universities have enough dormitories. The fact is the number of students keep on increasing day by day making those dormitories not enough forcing them to give a chance to hostel owners. Another thing is a number of parents or students do not prefer to stay in a place where they are congested in that they do prefer hostels.

Some schools don't even have dormitories so they do connect with outside hostels and refer there students to them making it more easier for the hostel owners. I've seen this thing most schools moreso those in area that are still developing.
 
Comment

Chibson

VIP Contributor
In my school, I have a female friend who is doing business and I can definitely tell you that she makes a whole lot of money from her products because students always buy. The main thing is that she even sells higher than people outside the school environment and still make a lot of sales.
 
Comment

Jonaville

Verified member
Yes, hostel business is profitable and less time demanding, but you also have to take other factors into consideration. For one thing, not everyone can just decide to start building hostels for rent because it requires high capital. Also, you need to get a land if you don't have one before.
 
Comment

Sotherefore

VIP Contributor
A lot of people are doing this type of business already and they are making a lot of money with it sometimes the most profitable area in which this business can be done is near a school environment most preferably the university because this is where you will get a lot of students to rent out your property. I don't see anything wrong with it
 
Comment

kayode10

VIP Contributor
Hotel business is profitable if you can manage to set up one at the right location. Hotel business will be profitable if you can set up as a commercial area where there are lot of business is going on. People will come over from different places to do deals which usually takes longer than usual. These are the type of people who will come to the hotel to Lodge.
 
Comment

btaliat

VIP Contributor
Hotel business is very lucrative but the fact is that there are many factors to consider while trying to set up this business. We should need to consider the kind of people that stay in the area and not only this, we need to provide all forms of security for this business.
 
Comment

Good luck

Valued Contributor
Hostels business is a very good business in any location or environment where you have people who are studying or preparing for any professional exam.Most of our higher institution of learning do not have accommodation that can take a large number of people or student so the only alternative is to look for a hostel to stay for such period of time.
 
Comment

btaliat

VIP Contributor
There is this habit that most hotel managers are engaging in now that may ruin the business. They are hiding camera in the hotel rooms. Most time they are doing this in order to know the evil things that may be done in the rooms especially ritualist. But this is like encroaching on people right
 
Comment

kayode10

VIP Contributor
You need to engage in constant promotion and discount offers in order to put your brand in the mind of the potential customers. You can do this by engaging in television and radio station advert. You need to run online advert to target your potential customers. When you do this continuously, your hotel will come up to the mind of the prospective customers anytime they have a need for it.
 
Comment
Top