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Find Your Profitable Niche When You Build Up Your Hospitality Business

April 16, 2020administratorGeneralNo comments

The hospitality industry focuses more on delivering customer satisfaction through anticipating needs rather than just providing essential services. This multi-billion dollar industry covers an extensive range from fields such as accommodation, food and beverage and travel and tourism. Depending on the size and budget of the business, it can either decide to manage all the varying sectors or hone their strategies catering to a niche market. If you opt for the latter, you are looking to tap into new territory while simultaneously reducing your competition and conserving your resources. You can fine-tune your business’s storyline to a targeted audience while maintaining your brand identity at large.

Where You Stay

When a guest checks into a hotel, they are looking for recreation, relaxation and rejuvenation. What specifics the stay should deliver will differ for each person. Where larger hotel chains can get by with providing luxury which is more of the same across the board, niche hotels need to gain a competitive edge by creating curated experiences. If your hotel is near an amusement park or a cultural heritage site, incorporate that ambiance into your surroundings. Whimsical decor, themed dinners and costumed staff are sure to be a definitive touch in some properties, while for others, emphasizing simple features and services like free airport transportation and complimentary Wi-Fi will work just as well. Over time, it will become easier for hoteliers to adapt their products and services, thereby, offering a higher degree of customer satisfaction and staying a notch above other competitors.

What You Eat

Why get lost in a crowd when you can bask in the spotlight? The key to success for niche food markets is to target your chosen audience when you head out to do business. Build a relationship with the consumer and provide them with the assurance that you are ready to earn their trust by delivering a product according to their needs and wants. Having done that, don’t just sell the product, sell the story behind it as well. Give the reason behind your plant-based food line. Tell your audience the need for a single dish restaurant. Even if you follow all the other guidelines, ensuring the quality of your brand will still remain of the utmost importance. At the end of the day, it has to be the best, simply, a cut above the rest.

What Will You Do There

There are millions of people in the world and just as many different interests. Some people consider climbing K2 as downtime while others consider wine tastings as part of their vacation. Thanks to niche travel and tourism companies, remote destinations are within an arm’s reach and obscure attractions are trending now more than ever. Anyone say Hair Museum? 

Unlike mass tourism in which people are looking to “see” an entire city just by checking off popular tourist attractions from a stranger’s compilation, niche tourism involves traveling over less land but taking a lot longer to become one with the locals, the culture, the heritage in its entirety. Then there are the added benefits of tweaking your trip to fit your desire whether it involves bringing your pet along as a travel buddy, choosing the right destination for that long-awaited hair transplant or aiming to connect with global foodies.

Finding a niche is not always easy, but it offers its own set of benefits. Setting a target audience reduces mass competition which enables a business to utilize all their resources on a smaller set of goals. This further encourages customer loyalty because consumers end up getting more bang for their buck.

 

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Molham Bakir
Molham Bakir
05:51 03 Feb 17
We're worked with DB Hospitality on our second project now; particularly with restaurants I'm super satisfied with what results I'm getting from managing my team to overall operations. I had to travel for a few months back home and I was really worried I wouldn't be able to manage my restaurant remotely - I looked upon a restaurant consultancy firm to be able to assist me with this and I definitely made the right choice with these guys. Super happy - keep it up.
Prasad Shete
Prasad Shete
18:02 20 Sep 16
DB hospitality offers an array of exceptional services and Ankita who is an Operations Manager at DB is surely an Asset to this firm. She and her team helped us through entire process from feasibility study to Fit outs and then setting up entire outlet, creating menus, recruitment and training's. I wish to work with them again in future for our upcoming projects. Special thanks to Ankita and team.
Tracey Mu
Tracey Mu
16:39 20 Sep 16
We approached DB Hospitality to develop our Asian concept restaurant. Brenton the GM took care of all our needs from A to Z and still assist us from time to time in on going management assistance. Thank you for making our dream cone true. Tracey
Dave Crane
Dave Crane
07:32 12 Sep 16
A friend of mine asked DB Hospitality to help launch her restaurant and within a very short time everything from menus to staffing to website was up and running. It could well turn into a restaurant franchise - watch this space... Nice one guys.
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  • Why You Should Shape Customers’ Experience In Your Restaurant April 22, 2020
  • Find Your Profitable Niche When You Build Up Your Hospitality Business April 16, 2020
  • In-Line From Tip To Toe: Why Your Restaurant Needs A Marketing Strategy April 7, 2020
  • Steps On How To Safeguard Your Restaurant From Potential Risks April 2, 2020

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