Ervin Ahbabovic | Hospitality Industry Basics for Entrepreneurs
If you have been dreaming of operating a new business venture, then choose the hospitality sector. The hospitality sector is a broad one with lots of business opportunities for entrepreneurs. Entrepreneurs like Ervin Ahbabovic have taken advantage of the vast opportunities presented by the hospitality industry. Ervin Ahbabovic is a key player in the hospitality sector and a former military man. He has established many hospitality businesses for more than two decades.
Why Should You Venture Into The Hospitality Industry?
There is a market for every product and service. So, if you venture into providing hospitality services, you’ll get customers with the right method. This is because the hospitality sector has an array of business ideas for entrepreneurs. No matter which area you choose in hospitality, just ensure your business provides solutions to your customers’ needs. Also, let your business be located in a good area, offer the right service, and satisfy your customers.
Branches of Hospitality
Hotels
Hotel owners and operators need to be innovative, well-rounded, and persistent. Hotel entrepreneurs must be well-read and be ready to work, even if it means getting dirty. What we mean by getting is that an entrepreneur must be ready to do menial tasks when needed. For example, there’s no cook in your hotel, but you can cook, then cook till you hire a cook. Or there’s no manager to manage the hotel, you can become a manager. If you don’t do these tasks, your hotel operations will be affected. This is because you won’t be able to offer good services. Then the hotel will be known for its poor customer service.
All the big hotels present today started from somewhere. They tasted failure and experienced success.
Examples
- Hilton Hotel
2. Marriott Hotel
Restaurant
An example of a family-owned/operated restaurant is Mcdonald’s. The business is operated by the McDonald’s brothers and has been turned into a franchise. The brothers use innovative methods to cater to the needs of people and used them to grow their business. Some of their mode of operation was new and this attracted more customers.
Rentals
An example is Airbnb, a firm that provides rental apartments and properties to its clients. The firm was established by two friends who couldn’t afford their rent then. So they rented their apartment and used the money to pay bills. This sparked a business idea in their minds, and they went for it. Today, the small firm they established has become a flourishing firm with millions of users and bookings.
Challenges
Successful hospitality entrepreneurs like Ervin Ahbabovic, have faced many challenges to be where they are now. Without a challenge, you can’t grow or develop. When you have a problem, you learn from it and become stronger.
So how did entrepreneurs overcome their challenges? They took their time to survey the area, form a business plan, and use effective business strategies. They conduct business with good business ethics to maintain a good reputation with their customers.
Originally published at https://tadtoper.com
