Market Research: Understand the local demand, competition, and customer preferences.
Business Plan: Develop a comprehensive
business plan outlining your value proposition, target market, financial projections, and marketing strategy.
Location Selection: Choose a strategic location that is accessible and attractive to your target demographic.
Legal Requirements: Ensure compliance with zoning laws, health and safety regulations, and acquire necessary licenses and permits.
Funding: Secure funding through
venture capital, loans, or personal savings to cover initial costs and operations.
Operations: Set up the property, hire staff, and establish systems for reservations, housekeeping, and customer service.