Business Plan to establish a Hostel Case : Wild Deer Hostel, Black Forest, Germany
Hörmann, Simon (2022)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022120526405
https://urn.fi/URN:NBN:fi:amk-2022120526405
Tiivistelmä
The aim of this bachelor thesis is to develop a business plan for a hostel in the Black Forest tourism region in Germany and combine this very special cultural and natural destination, with an accommodation service for young and independent travellers from around the world: This hostel will not only be a place for national and international travellers with a small budget who want to visit the destination, it will be a venue to explore the Black Forest with focus on sport activities. To develop this business idea further, it first had to be studies whether a hostel concept is promising for this target market and what requirements are placed on such project.
This thesis is divided into two main sections. First, the hospitality and accommodation sector is discussed while reviewing the macro environment and market trends in connection with the sustainable development of the industry. The second part describes the process of the thesis and the used methods. To achieve the actual aim of this study, a deductive research approach was used with a combination of mixed research methods. Data was gathered by qualitative research method from a variety of sources, including an interview with a founder of a hostel and content analysis of competitors. In addition, a quantitative online survey of potential guests was conducted to obtain information on the needs and expectations of the target group, which helps to assess the potential of the guests and provide a solid basis for the implementation plan. The author was looking towards the destination of the Black Forest and its attractiveness, the market segments, marketing, sustainability, and competitiveness.
Although a business has been developed in this thesis, no financial forecast or plans are given. Due to the lack of data on the building to be leased and its ancillary costs, employees, and equipment to be purchased, this project does not include financial calculations for budget or loan and focuses on the overall business concept. The result of this thesis is the business plan of the Wild Deer Hostel. Different development tools were utilised like strengths, weaknesses, opportunities and treats analysis and business model canvas to construct this strategy.
This thesis is divided into two main sections. First, the hospitality and accommodation sector is discussed while reviewing the macro environment and market trends in connection with the sustainable development of the industry. The second part describes the process of the thesis and the used methods. To achieve the actual aim of this study, a deductive research approach was used with a combination of mixed research methods. Data was gathered by qualitative research method from a variety of sources, including an interview with a founder of a hostel and content analysis of competitors. In addition, a quantitative online survey of potential guests was conducted to obtain information on the needs and expectations of the target group, which helps to assess the potential of the guests and provide a solid basis for the implementation plan. The author was looking towards the destination of the Black Forest and its attractiveness, the market segments, marketing, sustainability, and competitiveness.
Although a business has been developed in this thesis, no financial forecast or plans are given. Due to the lack of data on the building to be leased and its ancillary costs, employees, and equipment to be purchased, this project does not include financial calculations for budget or loan and focuses on the overall business concept. The result of this thesis is the business plan of the Wild Deer Hostel. Different development tools were utilised like strengths, weaknesses, opportunities and treats analysis and business model canvas to construct this strategy.