Business Ideas Hostels business.

Ephy

Active 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.
 

Ephy

Active 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.
 

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.
 

Jonaville

Active 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.
 

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
 

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.
 

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.
 

Good luck

Verified member
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.
 

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
 

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.
 

Wisdom01

Valued Contributor
I think security is actually want makes students to consider hostels than considering getting an apartment for themselves ,you could earn through the business , although it would require more cost and capital considering building the hostels and providing all the needed thing that the student would actually need in the hostel
 

dagm

Active member
In every area or setting where individuals are studying or preparing for any professional exam, the hostel business is a very good business. Because most of our higher education institutions lack accommodations that can accommodate a significant number of persons or students, the only option is to hunt for a hostel to stay in for such a long length of time.
 

Wisdom01

Valued Contributor
In every area or setting where individuals are studying or preparing for any professional exam, the hostel business is a very good business. Because most of our higher education institutions lack accommodations that can accommodate a significant number of persons or students, the only option is to hunt for a hostel to stay in for such a long length of time.
Yeah but I think the business is profitable , because due to the scarcity of hostels available for students to stay ,the student would actually prefer to stay till they complete the end of their level of learning and you would make more money through that process ,but the building should be closer to school , for easy access by the students
 
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