“At no other time in history has there been a better opportunity for people to create or retain ownership of their lives. Our nation and its communities need more entrepreneurs. Entrepreneurialism is not only a pathway to autonomy and financial independence, but also has a macro-level impact on community development and economic growth, providing sources of employment and higher living standards.”
If you are also gearing up to become a business owner, then it's time you start thinking about becoming an entrepreneur in the hotel and hospitality industry. Currently, the hospitality sector is expanding at an exponential rate and experts predict that the industry will grow further in the coming years.
Here are 7 great reasons why you must become an entrepreneur in the hotel and hospitality industry-
Security & Stability
Staring a business was widely considered as a risky venture even a few decades ago as most people considered landing a lucrative job at a large organisation would offer better security. However the scenario has completely changed now. Robert Kiyosaki, author of Rich Dad Poor Dad, said, “That’s what my ‘poor dad’ taught me. Now, working for a traditional corporation has become a risky option.” as the hospitality is one of the most stable industries, entering this field will enable you to evade risk and maximise your earnings.
Earn More Money
According to the latest U.S. Federal Reserve survey, an entrepreneur's average household net worth is almost 5 times more than a person who is employed traditionally. Hence, you will be in a better position to fight off the recession and make more money for yourself by working in this sector.
Flexibility & Freedom
One of the best things about being an entrepreneur in the hospitality sector is that you can decide when you work, how long you work, how you do your work and who will be in your team. Being your own boss will give you high levels of freedom and flexibility. Dave Ramsey, radio host and best-selling author, said “There’s been a lot of doom and gloom in the media this year. The truth is, many people were laid off from jobs they hated anyway. Many people, instead of sitting home and sulking, have used the freedom to think about what they really want to do when they grow up. You have ideas- go do it!”
Explore Your Potential
Richard Branson, founder of Virgin Group, said “Entrepreneurship is business’s beating heart. Entrepreneurship isn’t about capital; it’s about ideas. Entrepreneurship is also about excellence. Not excellence measured in awards or other people’s approval, but the sort that one achieves for oneself by exploring what the world has to offer.”
A Meaningful Career
Did you know that the 78 million baby boomers in the nation are about reach their retirement age? However, they now realise that now they do not want to nor they can afford to retire. Dr. Mary Furlong, author of Turning Silver into Gold, commented “Boomers are looking for ways to give back. They are taking the reins of their own futures and redefining their lives. They want work that reflects their values and identity; they want to make a difference.”
According to a research by MetLife Foundation, around 50 per cent of US citizens, within the age of 50 and 60 years, wish to be engaged in work “that matters.” Working in the hospitality industry will enable you to build a meaning career that will add significant value to your life.
Share Your Knowledge
When you become an entrepreneur in the hotel & hospitality sector, you will get be able to use your work experience to provide better service to your customers. By choosing the right deals & offers, negotiating the contract, managing the logistics and others, you can share your knowledge and help your customers in an enhanced way.
A Better Life
Jeffrey Gitomer, best-selling author of Little Red Book of Selling, said “When you’re in business for yourself, you write your own history, you write your own success story, you write your own legacy and most important, you write your own paycheck. Being in business for yourself gives you the opportunity to work your heart out for something you love.”
By now you have a clear idea about why you should become an entrepreneur in the hospitality industry and what benefits you can expect from it. However, the question that still remains is that how you can start your entrepreneurship journey successfully. If you ask me, studying an online diploma in hospitality management is certainly a great idea to get started. But why? Pursuing a full time traditional course would need you to invest a lot of time and money, which you can better invest in your startup. As online hospitality management courses are highly flexible and affordable, you can easily choose to work on your business and study for your diploma simultaneously without emptying your bank.
Moreover, by pursuing an advanced diploma in hospitality management you will develop all the essential skills need for this field, such as leadership, business, management, communication, catering, organising events and many more. You will also gain a comprehensive understanding about how a business works and will be in a better position to drive your start-up towards success.
What do you think? Feel free to share your thoughts and views with me. I would love to hear from you.