Owning a resort can be a lucrative business, but you need to know how to manage the business and how to get started. You can purchase a resort that is already established, or you can start from scratch and build a resort in an area where there are no others.

Planning

There will be a good amount of planning before you actually open the resort. You need to decide what kind of resort you want to open, such as one that has a golf course or one that has a casino. The kind of resort can affect the operating cost as well as the overall price of the business in getting started. People like Steve Wynn have created businesses from resorts that are attractive to numerous types of people. The thing to keep in mind with a resort is that you need to market it to families as well as singles and couples who are looking for a fun experience. A resort on the beach could give guests access to snorkeling and other water activities while one in the mountains could lead guests to ski slopes.

Getting the Money

After you have a business plan, you need to look for the money. There are loans available, or you can use money that you have saved so that you don’t have to pay back a loan with a high interest rate. If you use your own money, it’s a good idea to start small so that you can see how the business will do before you expand. If the business isn’t profitable, then you won’t be out as much money as you would if you were to start a large resort with several floors. Talk to banks and finance companies to find out who has the lowest interest rates and who has the best payment plan. Think about investors and how you can get them involved in your venture.

Staff and Extras

Before you open the resort, you need to think about how many staff members you will need and how much you will be able to pay them. Put ads in local newspapers in plenty of time for the opening of the resort so that you can get employees trained. You will need someone to work at the front desk, people to clean the resort inside and out and people to work in the various departments of the resort, such as the restaurant or gift shop.