Now that you have established your purchasing power the next step is to select a location for your motel.
Never under-estimate the importance of location.
The power of the internet has reduced this priority but never discount the power of location
The types of location you must assess are as follows:
1. City & Surrounds:
- Tourism attraction area
- Strong growth centre
- Proven Industrial infrastructure
- City has a pleasant warm feel with moderate weather patterns.
2. Motel location within the City or Township:
- Centre of the central business district is the best
- Walking distance to a Club or restaurant is preferred
- Pull up appeal and spacious grounds should be high on your list.
3. Tips for a quick decision to arrange an inspection:
- Turnover is king - the turnover dictates if the motel trades well at the current location
- Your first impression as you drive up to the motel is the same impression prospective guests will feel
- Park at the entrance of the motel and openly discuss your immediate impression & feelings with your partner.
- If the motel looks tired from your parked position - immediate capital expenditure will be quite significant.