Entrepreneur in Hospitality and Tourism

Main Responsibilities

The duties of an entrepreneur in the hospitality and tourism sector are numerous and varied:

• Design a business plan: Conduct market research, develop a strategic plan, and seek funding from banks or investors.
• Manage administration and finances: Choose a legal status, oversee accounting, manage cash flow, and recruit staff.
• Manage teams: Supervise various departments depending on the size of the business and ensure the quality of services.
• Define the commercial policy: Implement sales strategies, set pricing, establish a quality charter, and strictly comply with hygiene and safety standards.
• Listen to the clientele: Guarantee customer satisfaction, oversee the welcome, and improve the overall guest experience.
• Monitor revenue and profitability: Analyze results, optimize sales, and control costs.

Skills and Personal Qualities

Technical Skills

• Knowledge of administrative management, accounting, and taxation.
• Solid understanding of human resources management.
• Mastery of communication and marketing techniques to promote the business.

Soft Skills

• Leadership and a strong decision-making ability.
• Organization, meticulousness, and foresight.
• Adaptability to market fluctuations.
• A strong business acumen and excellent interpersonal skills to build customer loyalty.
• Resilience to the stress and pressure of running a business.

Education and Degrees

You'll generally need a Bac +3 to Bac +5 degree in hotel management, business, or entrepreneurship. The Vatel MBA is an excellent preparation, as it provides comprehensive expertise in hotel management, business strategy, and entrepreneurial project development.

Working Conditions

• A heavy workload, especially during the project launch phase.
• Multiple responsibilities (management, administration, strategy).
• Long and often unconventional hours, typical of the hotel and restaurant industry.

Salary

An entrepreneur's income depends directly on their business's profitability and revenue. In the launch phase, income can be modest or even nonexistent. As the business matures, earnings can become very high, depending on its size and location.

Career Progression

• Develop and manage multiple establishments.
• Create a group or a franchise.
• Diversify into other activities (sustainable tourism, innovative dining, related services).

Success Stories of Vatel Graduates