16 years
I would be interested in contributing to a hostel business plan. Do you have a framework already started?
Hostel business plan examples
Start a Hostel
Is anyone interested in sharing their hostel business plan with me or providing it to me for a fee?
Alternately, can anyone recommend one of the "canned" business plans I see available on the net? Here is one example:
planmagic.com/business_plan/hotel/hostel_business_plan.html
Finally, I would be willing to work together with other folks on this forum to research and fill-in some of the generic parts of a hostel business plan template.
Having written several business plans for other businesses, I am fully aware that my own hostel business will end up being quite unique. However, having a template to work from saves a lot of time.
Regards,
Ian
- Comments
16 years
From looking at the website you mention above, I suspect that their plan will have much more detail in certain aspects than you will need. But their list of headings is very comprehensive.
I suggest you treat that list as a template, and it's free. Start with that list, and write briefly what you want to do under each heading, or omit it if, after consideration, you decide it's not relevant. Expand the items that are significant to you, using a Spreadsheet such as Excel for any financial calculations (so that you can keep altering it as you refine your figures.) Then there's your Business Plan!
Do you have a property in mind already? If not, it's a bit pointless to start your business plan yet, as most items will be highly dependent on location (city, outer city, country), size, and whether you can design it from scratch or have to use existing layout. But good luck, I'm always interested in hearing about hostels run by enthusiasts!
16 years
The Hostel Management Wiki has a section on Hostel Business Plans. If anyone has ideas for a hostel business plan, or a framework that others could use to write a hostel business plan, please visit that page and click "edit" to add content.
16 years
Hello,
I am also wanting to start my own hostel and I have been doing lots of research and found a pretty good template. However, I am also having some of the same problems as mentioned above... I'm not too sure what to include in these sections. I have a location in mind picked out but nothing has been finalized yet... I can't get the property without the funding and I can't get the funding without the business plan so I feel as though I am stuck between a rock and a hard place. I am writing my plan as if I had the property and then hoping for the best...
TABLE OF CONTENTS
Your business plan is divided into the following sections:
Business Overview
Description of the business
Major demographic, economic, social and cultural factors
Major players (suppliers, distributors, clients)
Nature of the industry
Trends in the industry:
Government regulations
Market segment
Products & services
Pricing and distribution
Market trends
Implications or risk factors
Competitors and type of competition
Competitors' strengths and weaknesses
Competitive advantage
Sales & Marketing Plan
Customers
Suppliers
Advertising & promotion
Pricing & distribution
Customer service policy
Operating Plan
Business location & requirements / advantages / lease details
Equipment / technology / R&D / environmental aspects
Human Resources Plan
Key employees
Policies & procedures
Action Plan
Action plan & timetable
Executive Summary
A brief description of the project, the financing required, and additional information that help explain the business plan 8
APPENDIX:
• Financial Plan
• Floor Plan
16 years
I have been doing lots of research and found a pretty good template.
Is that outline above copyrighted, or could I put it in the Wiki as an outline for other people?
The Wiki content is licensed under the GNU Free Documentation License (compatible with Wikipedia's license).
16 years
It was free outline on a Canadian Business Website so it was free to all users (therefore, assuming it does not have a copy right?)
16 years
I added two business plan outlines to the Business Plan Wiki Page.
Still need to combine the two outlines into one outline and fill it with some generic information that could be expanded on by individual hostels.
Anyone is welcome to jump in and help editing that Wiki page. :)
16 years
I have translated into English (more or less, please feel free to correct it) this excell file I made to calculate the minimum rentability level needed.
It's not a business plan, but even if it's probably incomplete, I think it's quite useful to get an idea about up to what point a business project can work or not, etc.
I'll attach it here so you can decide where it belongs...if it does anywhere hehe, and also so you can edit it if needed before placing it somewhere else...hope it works! :)
16 years
Wait.
A few things seem wrong here.
You estimate € 18.000 p.a. for rent & mortgage = € 1500 per month
You speak of 45 beds - that´ll require a house with about 500 square meters. Now I don´t have any idea about real estate prices on Portugal, I have some doubts you´ll find a 500 suare meters building to rent in downtown Porto for that sort of amount.
Mortgage alone:
€ 1.500 per month will get you a loan for about € 200.000, at 6% interest, maturity 20 years. You will need those € 200.000 alone for renovations and furniture - easily.
€ 1.200 p.a. for external services seems very little to me. Again, no idea about prices in Portugal, but we have to pay € 6.000 alone for the yearly balance sheets and tax statements.
€ 2.400 for "other", such as repairs. A broken elevator alone can set you back € 2.400. Please forget the elevator idea, at least. Admittedly, our hostels are a lot bigger, but I am calculating with twice this amount - per month!
Re: your "average price per bed" figure:
€ 18 per bed seems to be a fair price, but you´ll have to pay VAT. So, let´s say you sell a bed for € 18 on Hostelworld - the guest will hand over to you € 16.20. VAT in Portugal is 19%, so you´ll end up with only € 13,62.
16 years
A few things seem wrong here
Yes, I changed most of the figures from my original sheet, the idea is to give a sample, not to give my real numbers and I thought posting the sheet empty of numbers wouldn't be as clear.
Also regarding VAT, suposedly both the costs and income should be put without taxes, I forgot to mention that, thank you :)
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