You have clients who may want to open up a hookah lounge, and it's essential to help them implement a strategy. According to research, the hookah tobacco industry is worth more than $820 million - and this figure will likely increase. Unsurprisingly, savvy entrepreneurs would gravitate toward a hookah lounge start-up.
RMS hospitality offers lounge program insurance that appeals to aspiring small business owners and insurance agents who provide specialty insurance products. Read on to learn what to know about starting a hookah lounge.
When your clients are considering starting a hookah lounge, there are a lot of questions that may emerge. How will they cover liabilities, for example, and ensure compliance with local regulations? Enlisting help from RMS Hospitality is the best way to help your client start their new business strong. RMS Insurance offers comprehensive insurance for hookah lounges and other clubs, including coverage for general liability, assault, and battery, and liquor liability if the establishment serves alcohol.
Hookah lounges are all about vibes, so location is an essential element. Most entertainment establishments do well in a busy area with plenty of foot traffic. For example, if your client is in an area with a downtown neighborhood, this might be the right place to set up shop. Prospective lounge owners should also obtain RMS hospitality insurance and consider the overall value that a location has to offer.
Every successful business requires a detailed business strategy, and a hookah lounge is no exception. Hookah business owners must prepare for their new venture by writing a comprehensive business plan. This plan should account for the cost of RMS hospitality insurance, and it should also outline the marketing strategy for the establishment. Most importantly, it should project potential earnings for the lounge and set specific goals. This plan will ultimately help entrepreneurs bring their vision to life while implementing a unique brand identity.
Incorporating RMS hospitality insurance into a hookah lounge budget is essential, but a budget must also account for many other expenses. Other important items include fixed costs, unexpected fees, and projected revenue. The success of your client's hookah lounge will likely depend on their ability to stick to this budget, so they should strive to make it as realistic - and as lean - as possible. A lean budget will also leave wiggle room for unexpected expenses that stem from liabilities.
When protecting establishments such as bars or lounges, partnering with the right insurer is crucial. That's why professionals in this industry trust RMS hospitality for all of their risk management needs. Insurance agents can also benefit from partnering with RMS and offering competitive coverage for hookah lounges. Your clients want insurance products that address their unique liabilities, and that's precisely what RMS does. See how you can serve your clients more effectively by partnering with RMS.
At RMS Hospitality Group, our expertly crafted policies are written specifically for the hospitality industry. We offer custom tailored solutions to meet any venue's specific needs. For more information, contact our knowledgeable experts today at (888) 359-8390.
At RMS and associated firms, business continues as usual. Our staff is remote-capable and available to handle all partners, brokers, and insureds at the present time.
