Are you searching for fresh ideas for the travel and hospitality business? In 2019 the global hospitality market was valued at over $4.6 trillion. There are numerous business opportunities, including lodgings like hotels, resorts, or bed & breakfasts; and guided tours. You can implement various business plans due to the wide range of travel commodities that are available.
It doesn’t even matter why you’ve decided to launch a startup business in the travel and hospitality industry. You can implement one of many possible business ideas to provide you with a strong start. I’d like to share some of the best ideas I’ve discovered.
Bar Business
While there’s a lot of competition, consider that the worldwide alcohol industry is worth over $515 billion (2019), according to Global News Wire. One of the main benefits of this option is you can serve different items besides alcoholic drinks, including snack foods and soft drinks.
There are also different kinds of bars to consider, including:
- Neighborhood
- Sports
- Specialty
Bed & Breakfast
Due to Airbnb and similar services, you can turn your guest room, garage, or entire home into accommodation for local/international tourists and travelers.
A website is a valuable platform that can provide exposure for your B&B and offer a way to communicate with potential clients. This business idea can provide an excellent way to earn some money full or part-time.
Bike Rental
This provides tourists and other area visitors a chance to explore the region while getting some exercise. In general, people rent bikes for a couple of hours to bike around the area. Your clientele might also include people like college students who need cheap transport.
There are various business ideas. It could be a standalone business or connected to other businesses like hotels or bike shops.
Catering Services
If you’re thinking about getting into the catering game, then it’s critical to find the perfect niche. For example, it’s important to determine issues like the type of
- Food
- Clients
- Venues
There’s no right or wrong niche to pick. This can include different ages, backgrounds, and events. What’s important is to figure out which catering specialty you want to have, then fine-tune your services.
Event Planner
The Internet gives people the chance to connect with people around the world for planning events.
As the name suggests, an event planner organizes an event by using their organization skills. This can include different ones, like weddings, anniversaries, and trade shows. They can earn money through methods like:
- Entry fees
- On-site sales
- Sponsorships
Make sure that when your visitors come to your venue in person or check it out online, they can always find something interesting that provokes a reaction, as an innovative master degree in visual design and communication explains, each reaction is usually followed by trade or exchange.
Food Cart
You can sell just about any beverage and food from food carts. It’s important to find a niche such as fish tacos or espresso carts, for example.
You can develop a big fleet of food carts over time and help grow your business. One important step is to hire food cart operators so you can focus on expanding your business.
Gluten-Free Bakery
Today many consumers are on grain/gluten-free diets due to various factors like:
- Grain-free diets
- Low-carb diets
- Celiac disease
Since wheat flour is the main ingredient in traditional bakeshops, this makes gluten-free locations a practical option. One of the main benefits of a small bakery is the operating costs will be much lower than a large bakery.
One way you can save money is by purchasing used commercial machines. This will just require some web browsing to find slightly used or “unused” equipment for making baked goods free of grains like wheat, barley, and rye.
Guided Tours
This is easily one of the most popular and profitable options in the hospitality industry. If you live in a popular tourist destination, then guided tours are a practical business opportunity.
One of the main benefits of this business idea is it can be a springboard for business growth. For example, you can launch a large business that hires other people to work as tour guides. Meanwhile, you could also earn some extra money during the summertime as a side gig.
Regardless of your business’ size, it’s a good idea to set up a dedicated website. This makes it easy for people to book tours online for guided tours they’ll enjoy before sleeping on a comfortable mattress.
Hotels/Resorts/Hostels
The range is quite wide. Lodging can include hostels with bed space in communal areas, or 5-star hotels that include the world’s most expensive hotels.
Another popular idea for hospitality startups is a holiday resort. This is ideal for consumers who are looking for options like timeshares. In such situations, you might want to find a suitable mattress.
Kayak/Boat Tours
The caveat is there must be a body of water in the area. It gives visitors the ability to take a boat out on the water for an hour or a day. This business provides an alternative to visitors traveling with their own boats. They also get a unique perspective of your city or town.
This business also gives owners an opportunity to share information about routes, landmarks, and wildlife in the area.
Canoe vs. Kayak: What’s the Difference? (video)
Organic Catering
Today’s consumers often aren’t just looking for healthy food but organic food in particular. This is a niche because it doesn’t just involve “natural food.” Organic food is different since it means no artificial ingredients were added to them. This includes products like pesticides, insecticides, and fertilizers.
This hospitality industry idea requires you to develop strong relationships with local farmers. It’s an important process to make sure your food items meet high standards for organic food, including “certified organic” ingredients.
What Is Organic Food? (video)
Translation Services
It’s estimated there are about 6,500 languages spoken in the world, according to Busuu. If you speak foreign languages, this can be a marketable skill in the hospitality industry. Besides guided tours, you can also translate brochures, menus, and documents.
Travel Blogger/Vlogger
One interesting way to earn money in the hospitality industry is by writing about or filming hot spots where you live. It’s linked to hospitality by helping people who are considering visiting or moving to your area.
You can earn money in various ways. They include local ads, sponsorships, and video monetization.
Private Transportation
This is especially important in metropolitan cities where most people take public transportation. Many tourists are willing to shell out higher rates for private transportation.
There are various options, including Uber-like services that allow you to use your own car or SUV to provide private transport around town. This can include various transportation modes, including motorcycles, cars/taxis, and buses.
Conclusion
Hundreds or thousands of yearly visitors to your region make it practical to launch a hospitality startup industry. This provides an opportunity to share your local area, improve visitors’ stay, and earn some money at the same time.
Author:
Brett is a writer at ID-Mag. An enthusiast and expert when it come to sleep products, Brett dedicates a lot of his time reading, researching, and reviewing about both traditional and emerging sleep brands that manufacture varied types of sleep products – from eco-mattresses, smart pillows to cooling sleep systems, Brett has probably reviewed them all. Brett also finds sleep especially important since he juggles a small business which he runs from home, makes sure he spends time with his daughter and he also writes during his spare time – you can definitely see that he needs a great forty winks all night, every night so he’ll make sure that you get great sleep, too!
