Entrepreneurial Opportunities for Hotel Management Graduates

By Srinath Achar

Entrepreneurial Opportunities for Hotel Management Graduates

Changing hospitality trends is giving way to a lot of new entrepreneurs. Entrepreneurship is a trend among young millennials. Young entrepreneurs are inspired by the success of companies such as OYO Rooms, Cleartrip, Zomato, etc. as well as some internationally successful companies which have raised impressive earnings and they see themselves following this trend and creating new fast-growing businesses.

Despite international uncertainties and security concerns, the global travel and tourism industry continues to grow at an impressive rate: More than one billion tourists travel to an international destination every year, while tourism contributes 10% of global GDP and 6% of the world's total exports, according to the UNWTO 2015 Report.

How does Jindal School of Hotel Management (JSHM) groom entrepreneurs for hospitality?

To equip young entrepreneurs with the relevant skills, Jindal School of Hotel Management nurtures its students to develop an understanding of strategic market opportunities, financial values and returns, and project management as well as organizational effectiveness.

Thanks to our unique model of education which combines practical hospitality courses with internships, management lectures and practical projects, our students obtain hands-on experience and put their learning to work. They acquire a broad understanding of entrepreneurship in the hospitality industry and gain practical knowledge of all the basic functions of a hospitality business. Throughout their studies, students develop the necessary knowledge and skills to succeed in today's dynamic and competitive business environment. They also develop valuable leadership and soft skills during their studies.

The following are the few Entrepreneurial opportunities:

1. Restaurants: Owning a successful restaurant could be one of the most exciting and rewarding experiences of your life. To help you create a recipe for success, we at JSHM help you gain the necessary skills and knowledge to make sure you have all the ingredients you need to open your restaurant with confidence. So what are you waiting for?

2. Bakery/Patisserie: You can start a bakery business from home or rent premises. You can also start as a part-time business. This is a good way to see how feasible and profitable it is before spending a lot of money on equipment and signing leases for premises. It’s a good business choice as there will always be a demand for bread and desserts.

3. Event Management: Event management has cropped up as one of the most profitable entrepreneurial opportunities. The number of companies/individuals organizing and hosting events has been growing rapidly. It varies from large-scale international events to small time private events. Event managers organize events such as product launching, theme parties, birthday parties, wedding celebrations, exhibitions, workshops, corporate seminars, company conferences, musical concerts, road shows, celebrity promotions, film awards, fashion, celebrity shows etc.

4. Food Franchise: It is perhaps every foodie’s dream to own a restaurant. An easy way to do this is to buy the franchise rights to international brands. An advantage of bringing in a well-known franchise is that the branding work is already taken care by the MNC and they have set processes in place that a new franchisee only has to follow.

6. Travel Agency: A travel agency business offers incredible flexibility, freedom and the ability to get paid to “get away”. Starting a business in the travel and tourism industry offers enormous appeal. If you’re excited about the idea of having your business, getting paid to see the world and creating your own path in life, then it’s time to turn these passions into a profitable venture.

7. Contract Catering: is a catering company that is hired by a company or organisation to provide catering services every day or on a very regular basis. The range is huge. A lot of large businesses will use a contract caterer to provide food to their staff. Schools and universities use them for their students. Attractions like museums, galleries and sports venues have a contract caterer to run their restaurant or café.

About the Author:

Srinath Achar

Srinath Achar is a Certified Hospitality Educator from American Hotel and Lodging Association. Having over 18 years of experience in the Hospitality industry, Srinath is currently the Principal of Jindal School of Hotel Management, Vadodara. Earlier, he has managed food outlets in Five Star Deluxe properties like ITC Sheraton, Budget Hotels and International Fast Food outlets like Sterling Group of Qatar. He has also worked as a Consultant for Hotel Manek Manor and Yellowuds Hotel.