Business is my passion and my state of mind.
Every time that I enter in a new shop, restaurant, hotel, office or business in general I’m immediately thinking what normal people will think:
How much is their turnover? and the expenses? how many employees there are? how many covers? and the stock? and their marketing?
I know that this exactly what you are thinking about as well so I’m happy to tell you that you aren’t alone.
I’ve spent the last 10 years of my life in building successfully businesses and some of them went nowhere, some failed miserably and some of them worked quite well.
London is a city with over 300,000 university students and another 300,000 young foreigners looking for a job.
Both categories have in common the need of having a place where to sleep at night and flatsharing is the most cheap and practical solution.
For this reason I started in 2007 a business in the accommodation industry and we helped over 18,372 to find a room in London. The accommodation offered is of basic standard but designed with flatsharing in mind.
In 2015 several companies entered in the same market however without having the knowledge of what really means to manage this kind of properties.
New regulamentations and the entrance of big players in this crowded market makes it difficult nowadays to create a profitable business from scratch. However it is still possible to achieve interesting results especially when you have 10 years experience under your belt.
With the raise of Airbnb and similar websites, more and more people have started booking apartments instead of hotels for their stays.
The booming of the serviced apartment industry started some years ago and now, as the students accommodation, have overgrown the necessity of the market in London.
But still there are plenty of possibilities for creating a successful business in other cities of Europe and around the world.
Google has completely changed in the last 10 years the advertising industry thanks to Adsense and Adwords.
“Everyone” can seriously make money with a website and these two tools combined with the affiliate marketing have opened incredible opportunities.
Most probably you have read somewhere these “fake” articles of people claiming that are making 300-400£ a day with a website and you are wondering if it is true.
As IT expert, I’ve developed a network of over 300 websites (with a team of 4 people) to try to understand how much really is possible to earn in advertising online and what are the best strategies of achieving the “financial freedom” that everyone talks about.
Of course the first thing that I’ve found out is that “it isn’t true that everyone can make 300£ a day with 4 hours work a week”.
The reality is that you need to spend 10 hours a day, 7 days a week in order to start making any money from your website.
If you aren’t passionate about the topic on your website or obsessed with internet marketing, it is really unlikely that you’ll make any significant money (+100£ a month).
Also I can tell you that managing a network of 300 websites it isn’t easy at all.
When I started collaborating with the Callan School in London I didn’t belive with my eyes what I found: “An old jurassic School, with incredible overheads that is finding customers just for lack”.
The “Callan School In london” for whom doesn’t know it, it was the biggest english school in Europe (over 1,000 students a day). It was because the new management brought in to try to save the company didn’t have clue about marketing and partnerships. But this is another story.
In 2008 I’ve introduced one of the first very booking systems for english schools with a real time quotation. (no interactions with human). The result was astonishing and for several years we were the top agents for the school turning over hundreds of thousands of pounds in english courses.
London receives over 18 Milion visitors every year and it easy essential to cover all the segments of the market. Whilst the serviced apartments cover the middle range, there are several Milion of people coming with a really low budget
For this reason we have developed a strategy about cheap and affordable accommodation called Guest House. This kind of solution keeps the running costs at minimum and offers a decent, clean and practical stay for the holidays maker.
A Guest house, like an hotel, attracts any tipe of customers and you can easily expect to receive around 10 bookings per room per month. (So for example if you have 10 rooms you’ll get 1,200 bookings a year!!)
London is a tough market and you have to excel in your customer service and in your ranking in tripadvisor, booking.com and similar to achieve meaningful results.