University launches first student-run guest house

University launches first student-run guest house

Many students who are enrolled in entrepreneurial programs seek hands-on experience that could boost their careers. In an effort to accommodate these learners, many schools are launching business programs that give students the opportunity to apply their skills in a real-world setting.

For example, Loyola University in Chicago recently opened its first student-run business. The Flats at Loyola Station are luxury guest houses that are solely managed by undergraduates in the school's entrepreneurship program.

The idea for the initiative started when a business class adopted the project in order to test the viability of turning a 10-unit residential building into a high-end guest house. Research revealed that The Flats at Loyola Station is the first undergraduate student-run guest house in the nation.

Currently, this interdisciplinary program's team consists of members from the School of Business Administration, School of Communication and the College of Arts and Sciences. The program will be an internship opportunity for current and future students who want hands-on training in running a business.

According to the Bureau of Labor Statistics, entrepreneurs can earn more than $1,155 per week.

By Mark Danson