by whwadmin | Sep 29, 2022 | Blog
There are several business ventures you can try and succeed in the corporate world. One thing that brings people close is food and drink. That is why the number of hotel businesses has incredibly risen over the last few years, even in rural and remote areas. Understanding why the number of such enterprises has increased and why you should consider hotel investment as your primary entrepreneurial undertaking is essential. These reasons are explained below.
Opening a hotel is similar to starting any other business – you need money. Fortunately, many lenders, especially alternative lenders, are willing to fund a hotel investment because the chances of the business failing are pretty minimal. The lender is sure that they will not lose their money.
Value Addition Levers
You can increase your hotel investment value through many channels. Operations are the key drivers of value in such a business, but other levers enhance its value. These include property renovation to attract more clients, capitalization, and sales and service contracts.
Enjoy Tax Benefits
Running a hotel is a real estate investment. Growing your equity, and enjoying the tax-free exchange, and depreciation are some incredible benefits you can enjoy with a hotel investment. All these advantages apply to all real estate investments, but a hotel takes them to a new and higher level.
Easy Expense Tracking
One of the critical reasons to consider hotel investment is the ease of following up with your business expenses. Expenditures in a hotel enterprise are divided into three categories;
Undistributed expenses – the total operational costs, including management, sales-related costs, and property maintenance.
Departmental – the total cost of the products you sell in your hotels, such as food and beverages.
Fixed – the expenses you incur regardless of revenue flow or hotel occupancy.
Giving back to the community is essential in running a successful business. Employing people from the community in your hotel is a positive gesture and a material contribution to your enterprise’s corporate social responsibility.
The benefits and reasons above show why you should consider investing in the hotel business. You will need the proper funding to ensure the enterprise takes off. It is advisable to contact WHW Capital today for the best financial assistance to open and run a successful hotel.
by whwadmin | Sep 22, 2022 | Blog
Running a business means maintaining its productivity level despite market changes. It can, however, be hard without a practical and functional plan. Understand that you remain relevant in the market by maintaining a higher productivity level. But how do you increase business productivity? This guide explains the best strategies to employ.
Your workforce can get overwhelmed with the duties and forget to handle the priorities in the business. The consequence, in this case, is lower productivity. Setting reminders is a good strategy as individuals can set their goals and the best way to achieve them. By using smart calendars and reminder apps, it is possible to increase business productivity.
Motivate Your Employees
Every employee in your business has the skills and experience needed to grow and succeed. You need these skills and expertise to increase productivity and achieve your short and long-term business goals. For this reason, motivating your employees should be a strategy to employ. Commend good work or offer monetary rewards and promotions to motivate your workforce.
Your business can lower its productivity through disorganization. You waste lots of valuable time and create room for conflicts within the premises if everyone feels confused. Getting organized is a strategy to employ if you want to increase business productivity and transform your venture. You can use productivity apps to organize your workspace and make it more productive.
Incorporate Wellness Programs
As you expect your employees to be physically available when doing tasks, note that their mental health also matters. Know that taking care of your workforce means looking into their physical and mental health needs. By incorporating wellness programs into business activities, motivating your workforce and increasing productivity remains possible and easy.
Train Your Workforce
As you hire employees with specific skills, be keen to train them and update their knowledge base. This is crucial as new ideas and ways to handle certain tasks in your business come up daily. Through training, you get to shape your workforce and ensure you meet your entrepreneurial expectations. A trained and skilled workforce is an avenue to increased business productivity.
Learning ways to increase business productivity is important to any entrepreneur. We provide solutions for business owners of small to medium size companies to exit, go public, or have someone to help turn the company around. Let the team at WHW Capital help your company reach its goals. Contact us today.
by whwadmin | Sep 15, 2022 | Blog
At some point, a business will need to look for alternative funding sources to maintain its operations and increase productivity. For this reason, having good credit as a business is important. Your credit determines how the lenders will handle your loan applications and your chances of getting approval. But how do you build sustainable business credit? Follow these tips.
Register Your Business
Registering your entity is one of the tips to follow to establish credit for your business. This is the first qualification you must excel in to achieve your objectives. Business registration structure and process differ with the state. It is important to learn the registration process to easily build business credit and handle your needs effectively.
Get Employer Identification Number (EIN)
The government needs to identify and know your business to avoid giving your sanctions. By getting your EIN, you create a platform that helps you settle down faster as a business. Using this number, you can streamline your taxes and establish credit for your business effortlessly. You also need EIN to open a bank account, get an operating license and apply for loans.
Building a Relationship With the Lenders
The more you interact and work with the lenders, the easier it becomes to build sustainable business credit. Maintaining a productive relationship with the lenders fosters trust and confidence. Your business needs this relationship to grow credit and easily secure funds. Most lenders find it easy and beneficial to deal with businesses they are in a relationship with.
Pay Your Loans and Debts Early and Often
It is important to make the lenders trust you as a business. This is possible by keeping your word on debt and loan repayments. You easily build credit for your business by simply paying your bills. Depending on the agreement with the lender, you can make the payments in full or partially and within the agreed timeframe. This is also a faster way to build credit for your venture.
Monitor Your Credit
It is important to be diligent and monitor your business credit history to determine ways to improve it. By monitoring your credit, you spot mistakes that might negatively impact your efforts. You easily handle errors and conflicts with the relevant authorities and maintain a good and productive credit history.
Building sustainable business credit is crucial for any venture seeking to grow. Besides access to funds, you avoid situations that might compromise your efforts. Get in touch with us at WHW Capital today for proper guidance.
by whwadmin | Sep 14, 2022 | Blog
Social media represents a critical part of your business’s marketing strategy, and Facebook is one of the most effective platforms available. These are some tips for effectively using Facebook marketing to advertise your business and expand your brand’s reputation.
Create a Business Page
The first step toward using Facebook to market your business involves creating an eye-catching business page. Unlike a personal page, a business page allows you to access the platform’s analytic tools to help you know the audience for your posts, the number of people your posts are reaching, and the degree of audience interaction your posts generate.
After you establish a Facebook page for your business, it is crucial to post content interesting to your viewers at least once daily. It can be challenging to know what customers want to see. But posting every day will give you enough data to analyze through the Facebook insights feature and help you adjust your posts accordingly. Facebook also offers a polling feature that allows you to get audience feedback about what you should post.
Be Aware of Available Features
Once you establish your business’s page, take time to discover and understand all of the Facebook marketing features available to you. Helpful features allow you to schedule your posts, know when your followers are online, block profanity or specific phrases, create groups and stories, and perform various other tasks to maximize your business’s image and reach.
Interact With Your Audience
The most successful posts for building brand awareness will promote audience engagement. However, it is equally important for you to engage directly with followers. Look for opportunities to join conversations that your posts inspire to show your followers that you are interested in knowing them and willing to listen to their comments or concerns. These interactions will also expose you to your followers’ networks and give you access to a built-in audience for your products and services.
Create an Ad Campaign
When you want to boost your business’s visibility and prefer not to wait for that to happen organically, consider creating a Facebook ad campaign. Facebook’s ad services allow you to create an ad that reaches people based on various criteria. Such as age, region, interests, gender, and other data. You can also set the period during which you want the ad to run and track its performance after it goes live.
Facebook marketing can be an excellent way to help your business reach new customers and develop its reputation as a leader in your industry. Contact the team at WHW Capital for further Facebook marketing insights.
by whwadmin | Sep 8, 2022 | Blog
Owning any rental real estate has its downsides and upsides, depending on how well you handle such an enterprise. It can be challenging to deal with your tenants, especially the disturbing ones, and manage the property single-handedly. Nonetheless, many landlords enjoy a few tax benefits that save them substantial money. Unfortunately, many rental property owners do not understand these benefits, making it essential to go through the information below to get a clear image of the subject.
Deductibles may apply across the real estate industry, but they have a limit for residential property owners. On the flip side, this is one of the tax benefits landlords enjoy, primarily from various insurance premiums, such as health and homeowners policies. As a landlord, you can also deduct some amount from the cost of repairs you do for your tenants. Moreover, you can enjoy these tax benefits from the utilities like gas and electricity that your tenants do not pay for.
Your rental property is exposed to wear and tear with time, meaning its value depreciates with time. You can enjoy the benefit of depreciation deductions as one of the critical tax benefits. Nonetheless, you cannot deduct the entire amount at once. You do it over a specified period. The period for depreciation deduction varies depending on whether you own commercial or residential rentals.
Interest on Mortgage
Landlords can deduct some amount from the mortgage interest as a cost they incurred in fixing or building their rental real estate. You can refinance a property for a higher value than the original one. In such cases, you can deduct some interest and fees, but you must ensure you use the extra amount to renovate or improve the real estate.
Deductible Travel Costs
Many assume that landlords go through a rough financial time by regularly visiting their tenants and properties. This is not true because, as a landlord, your travel costs are among the tax benefits. They include paying for parking, taxis, air tickets, or fueling your car.
Constructing or buying rental real estate is not easy, especially regarding the financial needs of such an investment. Fortunately, WHW Capital is here to assist, making it necessary to consider contacting the firm today.