Opening up a small boutique hotel is a dream for most people who enjoy socializing and want to run their own business. Unfortunately, running a hotel; big or small is risky and time consuming. In order to reap the benefits and success you would have to carefully manage and plan the business. This would mean putting in hard work, sleepless nights and not giving up no matter how hard it gets. Read on to find out the three key factors that everyone who wants to open up a small hotel business must look in to.

Location is crucial
Before thinking of the precise location for your venture, a broader sense of the city or town you want your business to operate in will make it easier for you decide on what the area is like as a whole for the industry. Since it is a small boutique, you would have to presume that you will mostly likely be catering to vacationers and sightseers rather than corporate guests who require function rooms for example. Thus, you’d be better off choosing the best location that is convenient to main tourist attractions in your locality and is convenient to visit.

Decide on the property: new or existing 
The second decision that you will have to make after you decide on the city you want to operate in is the type of property. You can either find a property that is on sale or you can build one from scratch. Of course both these options s have their own positive and negatives and you should weigh them out carefully concluding what to do. Buying an existing one will probably be cheaper however might not be the way you imagined it, for example the private dining rooms Adelaide might be too close to the kitchens and so on. Some renovations could be far more complicated and expensive to do than building a small hotel from scratch. 

Research and investigate on other local guest houses and hotels 
Competition is something you will have to watch out in this field as this is how you can successfully carve out what you want for yourself in terms of your business. If you want to make your business stand out, you will have to research in to others in your area and offer people something unique and enticing that is not currently available with any other hotel business owner in the area. In addition, you can read customer reviews. Find out if they have swimming pools, gymnasiums, room service and so on.