samishosteltoronto

[samishosteltoronto]

Week 11 venture update

I figured out how to fix the basement exhaust and changed the hot and cold water to room temperature. I also fixed the problem with the air cooling system. The guests booked the hostel for a few days and cancelled their own registration. I also made sure that the fire alarm did not go on and off. 

 I helped my parents with the rapid bookings. The hostel guests get along with each other. The guests are well behaved and their payments on time. I stayed strong and stood my own ground and made sure that the customers did not misbehave. I also asked help from other people. I remembered the customers names and respected their backgrounds plus made sure they were feeling comfortable during their stay. 

[samishosteltoronto]

my customer showcase

Your business name

samishosteltoronto

The problem your business addresses

The problems my business addresses are basement exhaust not working, the hot water stopped functioning, the fire alarm going on and off and guests book for few days and cancel their registration

The products or services your business offers to address the problem

The products or services my business offers to address the problem are price points, order fulfillments, technology, diversity and complexity

The value your business brings to your customers or clients

The value my business brings to my customers or clients are considering your customers perspective, improving customer satisfaction, implement marketing in your strategy and never underestimate the value of free resources

Interesting information or facts about your business, products or services

Interesting information or facts about my business, products or services are having my own local newspaper, creating a newsletter, writing a blog, carrying business cards and offering mini versions

Contact information for you or your business

My contact information is 647-719-1094 

[samishosteltoronto]

10 posts!

[samishosteltoronto]

Start-Up Venture.

what is working? 

Guests get along with one another 

On time payment

Rapid booking 

what is not working? 

Basement exhaust not working 

 Fire Alarm going on and off

how do you feel the project is coming? 

I feel very successful because guests are making payments and cooperating with each other 

what are you learning about running a business?

Learning how to run a good business by learning how to manage registration for customers

what are you learning about yourself?

I learning how to stay strong and how stand up for myself when dealing with certain customers 

[samishosteltoronto]

Please come and visit my hostel

[samishosteltoronto]

Samishostel Future Business Start-up

The 3 main finances for my hostel are bank finances, government and location. I want to attract my customers to many different locations like the St. Lawrence neighbourhood, The Danforth, The Haunted ghost tour, the beaches and Kensington Market. I also want my customers to visit nearby attractions such as the CN Tower,  Art Gallery of Ontario, High Park, Casa Loma, Nathan Philips Square and the Toronto Zoo. 

[samishosteltoronto]

Samishostel loan

Bank loan: I am hoping to get $12,000  from the bank. My parents will give $3000 dollars as loan. The Future Entrepreneurs will give $10000 as a grant.

[samishosteltoronto]

5 posts!

[samishosteltoronto]

Business Operations Plan

I am going to hire a cleaner to clean the major areas in the hostel and I am going to clean the minor areas in my hostel. I am going to buy the bread, milk, butter, cereal, juice, toilet rolls and kitchen rolls in bulk from Costco. I am also going to buy the local fruits and vegetables from the local fruits and vegetable store located on Roncesvalles. I will be promoting on different sites like Facebook, Instagram and Tumblr. I will also ask customers to send me good feedback and i will also maintain good customer relationship. 

[samishosteltoronto]

Customer Persona

Sharmistha Mittra is a mom of 2 children that are 12 years old & 20 years old. She works as an Engineer and cooks very nice food. Our mom also loves to have fun and watch movies plus attend dinner invitations. She also helps out our dad by running the Airbnb business. Our mother also loves to travel around places such as England, Scotland, France, USA, Germany and Netherland. She also likes to try out different cultural food like Indian, Chinese, French, Mexican, Brazilian, African, Japanese, Tibetan and Korean.  

[samishosteltoronto]

Local Competition

For Samishostel some of the hostels that are in competition are College Backpackers, All Day Hostels, Planet Traveler Hostel, HI Toronto, The Clarence Park, The Parkdale Hosterllerie, The Only Backpacker’  s Inn, Airbnb, Guest Houses and Two Peas Pod Hostel. Chelsea Hotel, Hyatt Regency Toronto, Holiday Inn Downtown Toronto, Hilton Toronto, Bond Place Hotel Toronto, Sheraton Centre Toronto Hotel, Double Tree by Hilton Hotel Toronto, Hotel Fairmount Royal York, Courtyard by Marriot Toronto and Broadview Suites. 

[samishosteltoronto]

This is why my hostel is unique 

[samishosteltoronto]

My strengths and weaknesses

My Strengths

·         Excellent People Management Skills- I get along with all customers by remembering their names and calmly solving their issues.  I have always worked with my group members and got all assignments completed on time. I can decide on who is a good candidate for a job and am able to handle the staff effectively when managing the Airbnb business for my parents. I use positive phrases with customer services and try to be mindful of their sentiments. I have self-regulation and I can take control of my own emotions and behaviour. I’m honest with my feelings.

·         Effective sales/negotiation abilities- I am able to give creative options to my clients. I am good at upselling. At our Airbnb I have started to give breakfast as an option to add more revenue. I know how much to push and when to give in when negotiating a price with my customers. I am very responsive to my clients. This helps in improving ratings of the Airbnb and generate more sales.

My Weaknesses

·         Poor Financial Planning- I love to shop and eat at the restaurants often spending more than I can afford. I am working towards being better at money management. I take time in understanding the financials and need to be explained things slowly and clearly. Sometimes I rush to pay and make mistake. I get very stressed when I am asked to give account of my tasks. I am working with my parents to get better trained in financial management, before I start running my own business.