The travel and tourism business has gained tremendous traction during the last decade. With an increasing number of people traveling not just inside the country, but also worldwide for vacation and business purposes, the hotel sector has experienced a significant increase in the tourism business.
In addition, the travel and tourism industry in India makes a significant contribution to the
Country’s gross domestic product. Demand for hotel rooms is expected to rise by 6% annually, based on existing trends.
Supply, on the other hand, is increasing at a 3% annual rate. As a result, there is a significant opportunity for someone wishing to establish a new business in the hotel industry.
If you wish to start hotel business in India, there are certain things that you should know. In this article, you will know about the important information to start hotel business in India.
Steps to start hotel business in India
Locate the need in the market
Learning about how to establish a hotel business requires first and foremost familiarizing oneself with the global and local hospitality industries.
Set aside some time each day or week to remain up to date on the latest hotel news.
Researching the market for your hotel can only begin when you’ve gained some experience with it.
If you find that there’s a relevant need or demand in the market, then you should make a business plan.
Make a Business Plan and Project Report
Identifying the unmet demands of the market necessitates devising a creative solution to bridge the gap.
With the right technique, you may make a name for yourself in the industry and gain market share by offering a product or service that no one else can.
Hence, you should make a business plan and project report to analyze your business goals, strengths, competition, and much more.
Get the Relevant Licenses and Registrations to Start Hotel Business in India
For every business, there are some mandatory and beneficial registrations that they must have. The same goes for the Hotel Industry. For hotel business, there are a number of legal, regulatory, and insurance criteria that must be met. Hence, the following are some of the registrations that you must have to start hotel business in India.
- Online Company Registration or Company Formation
- GST Registration
- FSSAI Registration
- ESI Registration
- PF Registration
- Fire Safety Permit
- Valid Permit from the Police
- Shop and Establishment Registration
- Bar License
- Building Permit
- Trade License
It’s not the most exciting part of working in the hotel business, but it’s necessary. Hence, you must consult legal, financial, and operational teams to identify the requirements for your location.
You can also contact our business advisors to get the mandatory registrations to start hotel business in India.
Also, it’s best that you apply for these services online for a faster and smoother experience.
Hire the Workforce and Train them
Businesses are only as good as their employees. By recruiting exceptional personnel at all levels, you’ll position yourself to provide value to your visitors and establish a market leadership position.
Many hotels prefer to hire for executive and departmental jobs first, which sets the tone and direction of the company.
Having identified their desired outcomes for their teams, these executives may determine how many employees they require. Each team should define the positions and abilities they’re searching for, as well as devise a strategy for attracting and retaining top talent.
Your application and interview processes should be straightforward so that you don’t cause any unnecessary stress for your potential employees. As a result, you’ll be able to find employees who share your point of view.
However, you can also save money and energy if you outsource some jobs. For example, you can outsource Bookkeeping and Accounting, Website Development, GST Return Filing, Income Tax Return Filing, TDS Return Filing, Logo Designing. etc.
Outsourcing these tasks to a professional team of experts can save your time, money, as well as energy, and you can focus on your core business.
Advantages to start hotel business in India
- It’s hardly a surprise that the hotel business is expanding.
- Operating the hotel business is also a great way to earn a decent amount of money.
- When you work in the hospitality sector, you’ll be exposed to a wide variety of individuals from all walks of life. Service-oriented companies, such as hotels and restaurants, place an emphasis on building relationships with their customers.
- Additionally, it’s worth noting that the hotel business is known for its laid-back atmosphere. Even though the job might be difficult at times, the atmosphere here is more laid-back.
In conclusion, the above mentioned is the brief overview that you must know to start hotel business in India. If you wish to know more or have any other queries related to starting any other business, you may contact our team of experts.
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