Entrepreneurial Opportunities for Hotel Management Graduates
Entrepreneurial Opportunities for Hotel Management Graduates- Have you ever dreamed of running your own business? If so, hospitality may be the right field for you. The job profiles in a hotel industry consist of a patchwork of hotels, restaurants, and resorts, the great majority of which are operated by individuals or families, or maybe a small group of investors.
Everything from the customer shift to virtual and mobile booking, to changing travel habits, to new industry players are bringing novel challenges and numerous business opportunities for entrepreneurs in the field of hospitality. While hotel operators created rigid bureaucratic systems, entrepreneurs have the chance to push creative ideas to advance the industry and gain attention from consumers. The hospitality industry particularly lends itself to entrepreneurship. Understanding the local market is the key to success and requires an entrepreneurial mindset in order to succeed. Let us, first of all, learn about how some big hotel brands proved their mere existence.
Also read- New look to the Hospitality Careers
Entrepreneurs and the great chains
One may think that, since nowadays, the hotel industry is dominated by big chains, like Marriott Hilton and Accor Hotels, there is no room for new entrepreneurs. It should be noted these great hotel companies trace their origins to entrepreneurs. For instance, besides the basic hospitality skills like preparing and serving food and beverage and managing hotel accommodation, hoteliers need to understand something about architecture, construction, legal and regulatory aspects, IT, marketing, social media, human resources management, accounting, finance, etc. Even the best choice of internship from the brand hotels can polish some of these skills in aspiring entrepreneurs.
McDonald, the biggest restaurant chain
McDonalds, which is now the biggest restaurant chain in the world, was initially developed by Ray Kroc, a milkshake machine salesman. While the McDonalds brothers launched the first drive-in restaurant, it was Kroc, who, after observing the long queues in the brothers’ establishment, saw the potential for leveraging the format into a massive worldwide network through offering franchises. In fact, his first franchisees were his golfing buddies.
Marriott Hilton
Marriott business was a stand selling root beer (an American soft drink) in downtown Washington DC. J.Willard Marriott and his wife, Alice Sheets Marriott, opened their nine-stool root beer stand in 1927, which subsequently grew into the Hot Shoppes Restaurant chain that evolved into today’s Marriott International hotel company, the biggest hotel company in the world. For the next 85 years (until 2012), Marriott was run by either J Willard or his son, Bill Marriott, even though Hot Shoppes was introduced into the stock market in 1953.
Conrad Hilton took a chance on hotels
While hard work and determination are crucial, entrepreneurial success also depends on being in the right place at the right time. This is what happened in the case of Conrad Hilton. He got onto the hotel business almost by accident. In 1919, he was on his way to buy a bank in Cisco, Texas, but ended up purchasing a local hotel, the Mobley, instead. What gave him the idea to buy the property? Having arrived in Cisco, the 31-year-old Hilton stayed at the rather featureless Mobley Hotel. The young entrepreneur immediately noticed the queue of people lined up, hoping to get a room. But there were no more available rooms and the owner was so tired of running the property that he did not want to expand. Thus, customers had to be turned away and shunted off to sleep in other hotels. The owner just wanted to retire, so was glad to turn over the hotel to Hilton at an attractive price.
Airbnb
Well there is always a room for new players in the market. All you need to have is the right set of strategies and a smart working brain. Society is constantly evolving and the careers in the hospitality sector are along with it. New concepts can take over and disrupt markets in a very short period of time. The multi-billion dollar firm, Airbnb was founded by two design school graduates, Brian Chesky and Joe Gebbia, who were just desperate to pay the monthly rent.
Read here- Top 5 Hospitality Management Courses Offered by Five Star Hotels in India
These are the few entrepreneurial opportunities for hotel management graduates, the candidates can avail for themselves:
1. Hotels
People, especially tourists or who are traveling a lot due to their office work or any meetings, will always need somewhere to sleep, and often the big hotel chains are expensive. Meanwhile, a building with some history, a proper fried breakfast and an owner who not only knows the area but the people who live there, could be a far more enticing prospect for the visitor. You need to be prepared for your evenings to no longer be your own and that you’ll have to put in a lot of hard work.
2. Coffee Shop
There is a reason that coffee shops or cafes seem to be ubiquitous: people like them! (Ok, you can recall, Friends, the famous Central Perk). You can give your coffee shop a historical or a dim light look depending on what works for your cafe. Yes, you will have to keep experimenting. Create homemade cakes, buns and breakfasts, and pair these feasts with fresh hot drinks, to entice both visitors and locals alike. Memorabilia and a stylish décor will enhance the experience, and these venues can also be used to host networking events and live music/arts as is evidential nowadays.
3. Food Franchise
It is perhaps every foodie’s dream to own a restaurant. Even many of us opt for hotel management courses with a view that someday in future they will open a restaurant. An easy way to do this is to buy the franchise rights to international brands. An advantage of bringing in a well-known franchise is that the branding work is already taken care of by the MNC and they have set processes in place that a new franchisee only has to follow.
4. Pub or Nightclub
Owning or running a pub or club is an exciting way to earn a living. There are also many ways to stand out from the crowd, with the choice of a menu of local specialities giving you a point of difference to attract customers to a pub. Clubs can make a name for themselves through their live music too – with special DJs able to pull in the crowd of a pub in big numbers.
5. Travel Agency
Starting a business in the travel and tourism industry offers enormous appeal. If you are an experienced traveller with contacts in other countries forming your own travel agency you might be able to create your own specific, niche tours abroad. Perhaps your contacts will visit multiple regions and countries, and enjoy the fact that it’s a local travel agent delivering their bookings.
6. Contract Catering
Here a catering company is hired by a company or organisation to provide catering services every day or on a very regular basis. The range is huge. A lot of large businesses will use a contract caterer to provide food to their staff. Schools and universities use them for their students. Attractions like museums, galleries and sports venues have a contract caterer to run their restaurant or café.
7. Event Management
It is one of the most profitable entrepreneurial opportunities. The number of companies or individuals organizing and hosting events has been growing rapidly. It varies from large-scale international events to small time private events. Event managers organize events such as product launching, theme parties, birthday parties, wedding celebrations, exhibitions, workshops, corporate seminars, company conferences, musical concerts, road shows, celebrity promotions, film awards, fashion, celebrity shows etc.
Hence, an ideal recipe for success in business has not been invented yet, but the magic ingredients have been known for a long time. Most strategists and analysts reduce those to these key traits: curiosity, action, strategy, to be achieved by those who want to do business and profit.
Also read- 10 Reason to choose a career in hospitality
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Explore Career Options (By Industry)
Food Scientist
A career as a food scientist requires working full-time in the laboratory. He or she analyses data, works on computer programmes, and monitors the processors involved in food production. He or she examines raw materials and surroundings to detect problems. A food scientist is employed in research universities, government agencies, departments, and private entities such as food production facilities in order to do research work in terms of studying food production, storage, and transportation facilities.
Food Inspector
A career as a food inspector comes with the responsibility to ensure the food is healthy for human consumption. A food inspector inspects the food processing entities, manufacturing companies, restaurants, and dairy farms to collect samples for investigating the quality of food ingredients and preservatives being used in the food product to be sold in the market. Continue reading to learn everything you need to know about how to become a food inspector.
Food Engineer
A Food Engineer is a professional who is responsible for processing, packaging, and improving food products. He or she either works in the agricultural or food processing industry holding the responsibility of ensuring higher quality of food products including safety, supply, nutrition, and value.
Food Technologist
Food technologists are responsible for developing healthy and safe food. They ensure the food being produced is hygienic and tastes the finished product. A Food technologist's career requires working in product development and with food product suppliers. This study is a blend of principles of management, science, and marketing to produce or develop quality and hygienic food.
Family Social Worker
In a career as family social worker, an individual help those people who grow up in dysfunctional families and suffer from mild to extreme dysfunction. Some people are able to overcome the obstacles that childhood brought them and have a positive impact on the future. This negative behavior brings great pressure on family members. Sometimes they need help to learn how to deal with certain family situations or problems faced on a personal level. Individuals who opt for a career as family social worker can help restore harmony by providing services to families in crisis.
Chef
Individuals in chef career path work responsibilities include planning the menu, observing the kitchen, and supervising the entire kitchen staff. In the beginning, a trainee chef might be asked to wash dishes, clean the kitchen, and chop vegetables. There is a gradual process of learning and growth to reach the final destination ‘head chef’.
Every restaurant needs a culinarian and the country has a thousand great restaurant chains. So, there are immense career opportunities as well. In this article, we will discuss Chef roles and responsibilities, how to become a Chef in India, Chef skills, Chef eligibility, how to become chef after 12th and Chef qualification.
Linguist
Linguistic meaning is related to language or Linguistics which is the study of languages. A career as a linguistic meaning, a profession that is based on the scientific study of language, and it's a very broad field with many specialities. Famous linguists work in academia, researching and teaching different areas of language, such as phonetics (sounds), syntax (word order) and semantics (meaning).
Other researchers focus on specialities like computational linguistics, which seeks to better match human and computer language capacities, or applied linguistics, which is concerned with improving language education. Still, others work as language experts for the government, advertising companies, dictionary publishers and various other private enterprises. Some might work from home as freelance linguists. Philologist, phonologist, and dialectician are some of Linguist synonym. Linguists can study French, German, Italian.
Event Manager
Event Managers are professionals responsible for planning, organising, and executing various types of events, ensuring they run smoothly and meet the desired objectives. They coordinate all aspects, from selecting venues and managing budgets to overseeing logistics and collaborating with suppliers. Event Managers work closely with clients to understand their goals and tailor events accordingly.
Event Managers manage teams, delegate tasks, and handle unexpected challenges to ensure events are successful. Strong organisational, communication, and problem-solving skills are vital in this role. They operate in diverse settings, including corporate, social, and entertainment events, and may work independently or for event management companies.
Also read: Bachelor of Event Management (BEM) Course
Travel Agent
A travel agent works in the tour and travel industry. His or her work responsibility involves arranging travel for the end clients such as individuals, corporations, or groups on behalf of suppliers such as hotels, airlines, package tours, and other facilities. A travel agent involves working for an independent travel agency or can be a part of a travel agency.
Individuals who opt for a career as a travel agent are involved in planning trips for their clients in their day-to-day life. Travel agents stay updated about the hospitality and travel industry. Students can pursue some travel agent courses, such as BTTM (Bachelor of Tourism and Travel Management), and MTHM (Master in Tourism and Hotel Management) to become a travel agent.
Hotel Manager
A hotel manager manages the hotel staff and services provided to clients and guests. Individuals in the hotel management career path, negotiate on contracts with vendors providing various services in the hotel. He or she coordinates with different departments to ensure that the best services and facilities are provided to guests.
The hotel manager manages the hotel's budget. He or she supervises staff and maintains rules and regulations. The hotel manager handles customer relationships and solves their issues. Here, in this article, we will discuss the details of a hotel management career, and how to get into a hotel management career.
Food Stylist
A food stylist is a culinary art specialist who is responsible for making the food look arranged in a presentable way decked up with accessories for a close shot. He or she works with chefs, photographers and editors.
Bartender
The bartender is the person who mixes and serves drinks at the bar. He or she helps the people to serve drinks at parties which adds to the glamour of the event or the night and makes the environment like a party mood. It is difficult to plan parties without the help of a bartender serving beers and alcohol with all the mixing techniques.
Students can pursue BHM (Bachelor of Hotel Management), or other related courses to opt for a bartender career in India. Here, in this article, we will discuss the details of how to become a Bartender in India, bartending a good job, bartender career growth, bartender roles and responsibilities, bartender courses in India, and bartender skills.
Station Master
A Station Master is also known as SM in its abbreviated form. He or she is an executive employed by Indian Railway Recruitment Board responsible for running trains at a station. The role of Station Master comes with the responsibility of being in charge of running trains at the station assigned to him or her.
A career as Station Master requires to holds the responsibility to operate signals and ensure everything is as per the railway rules and regulations. The primary responsibility of the Station Master is ensuring that all the passenger amenities are fit and fine at his or her station so that travellers do not face any problems.
Linguist
Linguistic meaning is related to language or Linguistics which is the study of languages. A career as a linguistic meaning, a profession that is based on the scientific study of language, and it's a very broad field with many specialities. Famous linguists work in academia, researching and teaching different areas of language, such as phonetics (sounds), syntax (word order) and semantics (meaning).
Other researchers focus on specialities like computational linguistics, which seeks to better match human and computer language capacities, or applied linguistics, which is concerned with improving language education. Still, others work as language experts for the government, advertising companies, dictionary publishers and various other private enterprises. Some might work from home as freelance linguists. Philologist, phonologist, and dialectician are some of Linguist synonym. Linguists can study French, German, Italian.
Travel Agent
A travel agent works in the tour and travel industry. His or her work responsibility involves arranging travel for the end clients such as individuals, corporations, or groups on behalf of suppliers such as hotels, airlines, package tours, and other facilities. A travel agent involves working for an independent travel agency or can be a part of a travel agency.
Individuals who opt for a career as a travel agent are involved in planning trips for their clients in their day-to-day life. Travel agents stay updated about the hospitality and travel industry. Students can pursue some travel agent courses, such as BTTM (Bachelor of Tourism and Travel Management), and MTHM (Master in Tourism and Hotel Management) to become a travel agent.
Travel Journalist
A travel journalist is one who travels to different locations, explores them, and researches their history and cultural heritage. The travel journalist plans and organises the trip and looks after factors such as bookings, routes, destinations to visit, expenses, and other logistics. The travel journalist writes about the experience throughout the journey on various social media platforms, magazines, or even blogs.
He or she might also create travel guidebooks or memoirs to guide other tourists through his or her experience. Here, in this article, we will be discussing what a travel journalist does, travel journalist's salary is, how to become a travel journalist, how a travel journalist is in India, what a travel journalist's job description is, and what is travel journalism.
Travel Planner
A travel planner is a professional who assists clients or people in planning and organising their trips. He or she is responsible for making arrangements for the client's travel requirements such as reservations, booking flights, and arranging transport. A travel planner may also visit the holiday destinations and resorts to help the clients make informed decisions.
In a career as a travel planner, he or she must design cost-effective travel packages according to the client's needs and budget and provide the best recommendations to them. The travel planner oversees the negotiations for the accommodation, transportation, rental companies, tour guides and restaurants for the clients to get the maximum benefits of trips.