IN THIS TOPIC WE ARE STARTING A NEW HOSTEL

Hi all!
I'm Kutu 29 and living in Eastern European country. I'm not from here but I like the city it's cheap and and very nice. And sorry for my crappy English skills :)

In the beginning I don't want to give city-country name cause I'm sure from the hostels in this city they might post we already have enough you will not make profit so on.

So my idea is to start a new hostel here because all the hostels are quite old and lack of style.
If I can achieve and create a hostel I offer 2 night free tho whom posted under this topic for their help. (Hope it's not against forum rules)

What's on my mind is a 40 bed - 4 beds max each room - hostel somewhere center and very close to metro station.
All beds from ikea metal bunk. ( I have ideas for bolts which are loosing in time)
I'm not planning to have private rooms maybe one I don't believe there will be demand.
Beside all the free things in a quality hostel it will be with free nice breakfast ( not only cereal) free wifi - free bike - free one beer in the evening and I'm planning to take some of my guest out with me in the evening if there is a demand for a small crawl.
There will be 8 showers (1shower for 5 is it enough) and each shower will have a space that u can dress undress without making your clothes towels wet. It will be apart from rooms but on the same floor. And 8 toilets. I can divide 4shower/toilette women and 4 for men so can get more privacy and secure it with smart cards. So no men can "by accident " enter women's shower.
Since I'm a lonely traveller and always had problems with meeting people I want everyone to eat in big tables so they can meet each other.
Of course we have a beautiful mountain here I'm planning to have a deal with a shop who is renting skis and snowboards so guest can go to the mountin by bus and have some fun there only 30 min away. going up and down with lift plus bus costs around 8-9€.
And I don't want anyone crashing in the sofa in the common room so even if they arrive 5am if I have free room ill give them.
For linens and other washable items like towels etc ill buy a washing machine and a dryer. Beds will be ready guest will not make their beds. Towels on request free. Liquid soap and so on.
No drinking after 10-10.30 on site to give other guest a free time and not to see any ugly behaviors.
A room like this here low-top season costs 10€. U can't sell your room more than this or you can't have more clients than 30 percent.

I believe I have very nice ideas but I still have doubts.

My problem is with my calculations. Can anyone please help me?
I'm going to live in the site and at the beginning to i want to have only one night receptionist. Here is the max salary for this is 500€ plus 100€ for insurance. And for cleaning one lady will be enough 450€ with all expenses, if needed I will get a part time cleaner too 200-250€.
And for the rent a detached house is around 2000-2500€ per month rent. ( yes I can't use credit and have to pay this money at least 2 years. When I'm capable ill take credit and buy my own property if everything works)
I'm good at fixing things not big things but most of the maintanence I can do by myself.
Insurance is no more than 2000-2500€ year
So for start up I need 15k€ for beds linens sofas tv bikes a/c in all rooms.

Where is the mistake

12.500€ staff
30.000€ rent
15.000€ startup beds etc
2.500 € insurance
2.500 € maintance
5.000€ energy disposal tax
2.000€ marketing
67.000€
What else?
Worst scenario
Income 60 d x10€ x40r 24.000€
60 d x10€ x40r x 0.6 14.400 €
240 d x10€ x40r x0.3. 28.800€
67200€

Thank you all for the support and answers once again!
:party: :party: :party: :party: :party: