Setting up a startup. Any tips?

[Arpit131]

Hello people..

I am setting up a startup in the Pg and hostel rental sector. Bootstrapping the entire thing ground up.
Any tips that might be useful?

 

[namezest]

Sorry , Pg?

 

[Arpit131]

Sorry , Pg?

paying guest

 

[Chris Hydrick]

Any tips that might be useful?

Have you stayed in Hostel's before? if not, I'd recommend you check out your competitors, or others online.

I imagine hostel's vary country by country, so what might work in the states, might not fully apply to a different geographic region. One thing I can say, is most guests who stay in hostel's are looking to save a few bucks, and you the hostel owner, is always looking for positive reviews. With that said, I would focus on affordable low cost amenities such as supplying the house with cheap items such as rice, milk, cereal, peanut butter, jelly, bread, or other items that may be affordable in the region. Follow standard checklists what hostel guests look for, and see what you can afford. Beyond standard requirements such as cleanliness, I find hostel guests appreciate locker access. Having to share spaces with others (and not having a lock) can cause concerns for other guests, but if you provide a locker, this should alleviate concerns. I would recommend you purchase a lock where you can change the combination, this way you don't have to worry about lost keys, or previous guests knowing locker combinations.

 

[nicholas]

Just one advice: Whatever your budget in bootstrapping, just set the business up, then promote it like crazy online (classifieds, accommodation aggregators, places where target prospects hang out like climbers' groups on FB, hotel directories, SEO and so on).

The idea here is to gain traction as quickly as possible as soon as you start, and at as little cost as possible, then plowing any/all profits early on towards building the business more and/or more promotions (including those that cost more).

Good luck!

 

[Arpit131]

Have you stayed in Hostel's before? if not, I'd recommend you check out your competitors, or others online.

I imagine hostel's vary country by country, so what might work in the states, might not fully apply to a different geographic region. One thing I can say, is most guests who stay in hostel's are looking to save a few bucks, and you the hostel owner, is always looking for positive reviews. With that said, I would focus on affordable low cost amenities such as supplying the house with cheap items such as rice, milk, cereal, peanut butter, jelly, bread, or other items that may be affordable in the region. Follow standard checklists what hostel guests look for, and see what you can afford. Beyond standard requirements such as cleanliness, I find hostel guests appreciate locker access. Having to share spaces with others (and not having a lock) can cause concerns for other guests, but if you provide a locker, this should alleviate concerns. I would recommend you purchase a lock where you can change the combination, this way you don't have to worry about lost keys, or previous guests knowing locker combinations.

It's a different concept here. The target customer is students who stay in a particular city for 1/2 years. So, getting them a comfortable accommodation is something I am working on.
The target customer base is 150,000 and the amount they spend on accommodation alone is $150 million. 0 competitors!

Just one advice: Whatever your budget in bootstrapping, just set the business up, then promote it like crazy online (classifieds, accommodation aggregators, places where target prospects hang out like climbers' groups on FB, hotel directories, SEO and so on).

The idea here is to gain traction as quickly as possible as soon as you start, and at as little cost as possible, then plowing any/all profits early on towards building the business more and/or more promotions (including those that cost more).

Good luck!

Thank you for your advice. Point noted.