Asharqia Chamber reviews the roadmap for investment in children's hospitality centers.
Asharqia Chamber, represented by the Women's Empowerment Center, held a workshop titled "The Journey of Investing in Children's Hospitality Centers" on the evening of Monday, February 12, 2024. It was presented by the founder and CEO of Honey Bee Children's Hospitality Center, Tafool Al-Habib.
Al-Habib talked about elements that should be in place before starting any business project. Passion comes first among these elements, as it is the feeling of enthusiasm and happiness when engaging in a work or activity that one loves. Secondly, motivation, which is the determination and energy that drive individuals to achieve goals and overcome challenges. Finally, demand, which represents the desire and willingness of consumers to purchase a specific product or service, indicating a genuine need or problem-solving capability that people are willing to pay for.
Al-Habib presented the roadmap for investing in children's hospitality centers, starting with research and planning by analyzing the demand for services in the area, evaluating competition, highlighting the unique value proposition, and incorporating demographic data, trends, and potential growth in the area. The second step involves creating a business plan, which includes defining the vision, mission, and values, identifying the target market and age group, the services provided, the approach followed, determining the unique value proposition, as well as financial planning and feasibility study, assessing potential opportunities and threats, and setting a timeline for each stage of the project.
Regarding choosing a building for the project, Al-Habib mentioned that the location should be suitable and comply with regulations and requirements, ensuring that the building meets the needs of children, and ensuring that all health and safety standards are met. It's also important to choose an appropriate name and logo for the center.
Regarding how to proceed and obtain financing, Al-Habib emphasized the importance of determining startup costs, including facility facilities, equipment and supplies, employee salaries, and other operating expenses and fees, as well as startup costs and variable and fixed costs. It's also important to study financing options and personal savings, family and friends, loans, or investors and capital holders.
Al-Habib pointed out important elements in the project-building journey, including the importance of hiring, developing programs and activities, marketing and registration, and operational procedures.
