Josh Jambon owns a commercial vessel company but has recently been focused on opening several microtels in the Golden Meadow area. Microtels can be great investments and can be very profitable. If you are considering owning a Microtel, keep the following points in mind.
You should always consider the condition of a Microtel before you purchase it. You do not want to put your money and time into a Microtel that has structural issues or that will cost more to repair than what it is worth. Make sure you have the Microtel inspected before you purchase it and make sure you are getting a good price for the amount of work that will be involved in repairing and opening the Microtel.
Do you like the design of the Microtel? Would you stay there as a guest? When you build or purchase a Microtel, you need to put a lot of thought into the design. Make sure it is comfortable for your guests and has some classic decor. The last thing you want is to own an outdated Microtel.
Location is everything when it comes to microtels. What is the Microtel located next to and what would make someone want to stay there. You don’t want to purchase a Microtel that is not close to the area’s restaurants and attractions. Make sure the Microtel you purchase is in a location that will attract guests and help them stay close to the things they want to see and do.
What kind of amenities do you plan to offer at your Microtel or what ones are currently available? If you are buying a Microtel that is currently open, find out which amenities are the most popular. You do not have to offer anything big or fancy, but you need to give your guests a reason to stay and come back. Sometimes it’s the little things such as free Wi-Fi and complimentary breakfasts that can convince guests to choose your Microtel over another.
Don’t be afraid to check out the competition. What are other microtels doing in the area to attract customers? What do they have that your Microtel doesn’t? What do you need to do to make travelers choose your Microtel over a similar one? A little research can pay off and help you make your Microtel more successful.
If you are buying a Microtel from someone, don’t be afraid to ask about its performance. Does the Microtel get a lot of guests? Does it get a lot of repeat guests? What are the peak seasons and which ones are the slow seasons? This will help you plan for your future and help you determine if there are any weaknesses in the marketing or ways to improve the performance.
You know your Microtel will have some expenses, but make sure you are aware of them before you purchase or build the Microtel. You don’t want to be overwhelmed or surprised by the expenses and you should be prepared for the ones that are necessary. You may want to ask the previous owner about their annual expenses and look for ways to reduce or eliminate the expenses that are not necessary for the success of the Microtel.
If you want to own a Microtel and make it successful, there are several things you should consider. Josh Jambon is in the process of opening a couple of microtels. He has big plans for them and is ready to work hard to make them successful. You can follow Josh Jambon on twitter , pinterest and vimeo