Hostel Business Plan
This article is an outline and needs more content. It has a template, but there is not enough information present. Please plunge forward and help it grow!
- This page will have one or more hostel business plan frameworks, and guidelines for writing an effective hostel business plan.
- If you have written a hostel business plan that you are willing to share, please append it to this page.
Business Plan Resources
- Wikipedia has a good overview of business plans.
- Small Business Administration business plan advice
- Business plan outline
- Business plan advice
Sample Outline for Hostel Business Plan
- TO-DO: please add generic content that is specific to the hostels
A business plan should be about 30 pages plus justifying/supporting attachments. It is never generic, so the template below serves as a basis, but points can be taken out or adapted according to need. It is a good idea to browse the links mentioned on top of this page as they provide additional tips. Bear in mind that you do not just write a business plans for the banks, but also for yourself; it gives you a good opportunity to make sure your vision can be put into reality.
This sample is loosely based on the example here and combined with other ideas.
- Cover sheet - information about the business name, address, contact person, etc.
- Statement of purpose
- Table of contents
- The Business
- Description of business
- Industry background
- Nature of the industry
- Trends in the industry
- Market analysis
- Major demographic, economic, social and cultural factors
- Major players (suppliers, distributors, clients)
- Competition analysis
- Competitors and type of competition
- Competitors' strengths and weaknesses
- Competitive advantage
- Government regulations (Legal & Zoning)
- Sales & Marketing Plan
- Advertising & promotion
- Pricing & distribution
- Customer service policy
- Operations plan
- Products & services
- Personnel (Key employess, Policies & procedures)
- Equipment needs (incl. lease details & advantages)
- If relevant environmental aspects
- Business insurance
- Implications or risk factors
- Action plan and timetable
- Financial Data
- Loan applications
- Capital equipment and supply list
- Balance sheet
- Breakeven analysis
- Pro-forma income projections (profit & loss statements)
- Three-year summary
- Detail by month, first year
- Detail by quarters, second and third years
- Assumptions upon which projections were based
- Pro-forma cash flow
- Appendix/Supporting Documents
- Floor plan
- Tax returns of principals for last three years Personal financial statement (all banks have these forms)
- For franchised businesses, a copy of franchise contract and all supporting documents provided by the franchisor
- Copy of proposed lease or purchase agreement for building space
- Copy of licenses and other legal documents
- Copy of resumes of all principals
- Copies of letters of intent from suppliers, etc.