Hostel Business Plan in Nigeria
Hostel Business Plan in Nigeria
This sample Hostel Business Plan In Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Note, Competitions etc.
The Hostel Business is a lucrative business that needs a lot of strategic planning to start and a business coach like Dayo Adetiloye to help you start the Implementation.
Description of Hostel Business Plan in Nigeria
Business: Hostel Business
Industry: Hostel Industry
Patilad Hostel business is located at Ikeja, Lagos state. Our first major project lies in Ojo, Lagos state, some kilometers away from the Lagos State University (LASU). It is no hidden fact that the public universities in Nigeria have a major problem with accommodation. The Lagos State University (LASU) suffers the same predicament, having a population of over 35,000. Patilad Hostel business aims to solve accommodation problems like this, taking it up a notch.
Patilad Hostel business specializes in building hostel(s) for rental by students who wish to acquire either a room or self contain, according to their socio-economic class. In this wise, we have built for a start, a large hostel in Ojo, Lagos, which has in it, 20 spacious rooms, 10 executive self contains, 5 huge kitchens, 10 bathrooms and toilets, a wide laundry room and a special lounge.
Our 2 storey hostel is fully equipped with beds, tables and chairs, curtains and other basic items students might need. Our executive rooms are however, equipped with the best of decor and facilities. The laundry rooms also have washing machines, which we charge for along side the rent. Finally, the lounge is equipped with a large screen tv plus decoder, dvd, sound system, couches, table and all. In other words, it would feel like the students never left home.
We aim to compete favorably with our competitors by providing top notch structure and facilities that gives the hostel a homey feel. Our beautiful and unique exteriors will be the first attraction, then with interiors that match the beauty of the outer look, we would be unstoppable.
We also have features like air conditioning, 24/7 electricity, cleaning services, WiFi, dish washers, refrigerators, washing machines and lots more, depending on the plan chosen. We are sophisticated, elegant, comfortable, secure and give only the best.
The benefits of our services are;
- Rental of stellar hospitable student accommodation.
- Moderate and reasonable price for value.
- High taste furnishings and comfortability.
- 24/7 water supply.
- High end exteriors and interiors.
- 24/7 power supply.
- Additional features which can not be found in other private hostels like an organized laundry room with washing machines, dishwashers in the kitchen, WiFi, cleaning services etc for a reasonable fee.
Objectives of Hostel Business Plan In Nigeria
Our objectives in Patilad Hostel business are;
- To give our tenants a homey experience.
- To maintain a 100% occupancy rate.
- To have to least 5 more hostels in Ojo, Lagos and dominate the market by becoming larger and better.
- To expand to other large school areas like OAU, UNILAG, NSUKKA, UNIBEN, UNICAL, ABU, UI, UNIPORT and AAU, the most populated schools with accommodation issues.
- To expand across West Africa.
- To solve the usual challenges faced by students in the higher institution.
Our Goal for the Hostel Business Plan in Nigeria
Our goal is to obtain 25% of market share in 10years time. We intend to do this by exploiting the need for better and more hostels in tertiary institutions, in Nigeria.
Our Vision Statement for the Hostel Business Plan In Nigeria
Our vision is to be the leading and most preferred hostel in each and every tertiary institution in West Africa.
Our Mission Statement for the Hostel Business Plan in Nigeria
Our mission is to provide our tenants with the most comfortable and conducive housing accommodation possible in their respective schools, at reasonable costs. A place they look forward to going back to at the end of each day.
Management Team of the Hostel Business Plan in Nigeria
Taofeek Ereme- has been in the real estate business for approximately 6 years. He has cognate experience in every managerial work and duty. He is a graduate of the Ekiti State University (EKSU) where he studied estate management and graduated first class. Taofeek is a personable, enterprising, level headed, efficient, articulate, result-oriented and has amazing communicating skills. We believe he has what it takes to take this business to enviable heights. He is therefore our estate manager, in charge of the day to day activities of the business.
Mr Dayo Adetiloye – (B. Agric., MBA, and PMP): He has over 15 years’ experience in business management, business start-up dynamics, financial management of business and overall business growth and development. He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan African University (PAU). He is our business development strategist and a strategic partner.
We brought to the business:
- Exquisite infrastructure and facilities.
- Quality services like 24/7 power and water supply, cleaning services etc.
- Additional features uncommon in other hostels like laundry room, lounge, WiFi, high end dishwashers and washing machines etc for a small fee.
- Fully furnished luxurious executive rooms for tenants with higher taste and class.
- Reasonable rent fee for top notch value.
Management experience gained for Hostel Business Plan in Nigeria
Having experienced first hand by myself, how hard it could be to get accommodation in school, it has been my dream to pursue a line that fixes such a problem. I am a graduate of the Federal University of Ibadan (UI), where I studied accounting. I am a member of the Institute of Chartered Accountants of Nigeria (ICAN). I worked for a large real estate company in abuja for 7 years before I finally decided to resign and pursue my dreams.
I have been able to master the technical requirements, financial management, staff recruitment and organization skills among other things necessary to give the firm good commendation from our clients.
My managerial skills has also helped in putting together a workforce for over 5 years, which will also help me to coordinate the team work in most aspect of the company.
I am the CEO of the company overseeing the day to day activities of this esteemed business.
Materials and Machines for Hostel Business Plan in Nigeria
Computers and other hardwares, chairs and tables for reception and offices, building materials like gravel, cement, sand etc, furnishing items like couches, beds, curtains, tiles etc, washing machines, dish washers, air conditioners, solar generator, pumping machine, televisions, dvds, decoders, WiFi, lounge couches, tables, chairs, central computer, cctv, WCs, lights etc.
COMPETITIVE ANALYSIS OF HOSTEL BUSINESS PLAN IN NIGERIA
People rent our rooms and self cons for a number of reasons like;
- Our quality accommodation.
- Beautiful interiors and exteriors.
- Unique selling points like WiFi subscriptions, 24/7 power and water supply, lounge, laundry room, dishwashers etc.
- Adequately furnished luxurious executive room options.
- Heightened security. We provide a safe environment for our tenants through the use of security guards and cctv cameras.
- The high level of comfort we give.
- 24/7 neat and organized environment with clean refreshed air.
Our top competitors are:
- LASU Girls Hostel
- Julian Hostel
- Agbesola Female Hostel.
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