
Owning a restaurant, in many ways, requires the same approach as owning a hotel. Every step needs to be treated as part of a performance, as many patrons consider the experience to be as important as the food. An owner will usually be working long hours, and along with the strong work ethic, they’ll need to have an eagerness to please a tendency to adapt to any role in front of them.
The cafe market has grown significantly in the last decade and could still double over the next 15 years. A cafe is best owned by a perfectionist. Distilling the ingredients, staff, and ambience into a mix that is ‘just so’ is the defining goal of independent cafe culture.
Hotels are the workhorses of the tourism industry. A tolerance of long hours, working weekends and out-of-season personal holidays; a strong work ethic; and an eagerness to please are essential to the makeup of a successful hotelier. Meet these demanding criteria and you can enjoy a business where every day is different and the rewards lie in making people happy.
The best bed and breakfasts and guest houses are run by sociable owners with a ‘nothing is a problem’ attitude. They can offer cosiness and a warm, personalised service that hotels simply cannot match. This is the kind of business that can make your property work for you and help you to generate a good income.
Buying a resort offers the opportunity to generate consistent revenue from tourism and hospitality, particularly in desirable or high-traffic locations. Resorts provide diverse income streams, such as accommodations, dining, events, and activities, making the business more resilient. Additionally, owning a resort allows you to create memorable guest experiences, which can build long-term customer loyalty and brand reputation.
Buying a nightclub offers high revenue potential through drink sales, entry fees, and event hosting in a vibrant social setting. It allows you to tap into nightlife trends and create memorable experiences that attract a loyal customer base. Additionally, nightclubs can be a platform for creative expression, with opportunities to host themed nights, live performances, and exclusive parties, making it an exciting and dynamic business.
Campgrounds are an ideal lifestyle business – if you want a lifestyle involving the great outdoors, early mornings and a workload that ebbs and flows with the seasons. Most camping businesses are SMEs that are owned independently. This is a great business in times of market downturns as you will be able to cater to those choosing to have staycations in lieu of expensive overseas trips.