I’d like to start a Bed and Breakfast, what kind of things do I need to consider?
Mar 3rd, 2010 by admin
First off, take classes in hotel management, running a B&B is a business venture from the get-go, and lacking financial savvy can ruin a business in no time. A B&B doesn’t start making profit till about five years after it first starts, there is advertising (not just ads, but word of mouth from satisfied customers), repeat business (again, are they telling their friends and family about you), staffing, insurance (lots of it, never know someone will sue for an injury or food poisoning), supplies (are you buying fresh and local, having items imported in from other states).
Make sure you have a clear idea of your goals, and the things you need to achieve these goals (see above). Now location – what’s the competition like in the area you’re looking; do you have a place in mind, but it needs renovation; how is your standing with credit, can you afford a place outright, or will you have to mortgage. Remember, all places, no matter how new or old need some sort of renovation. What will you offer the customer, just a place to sleep and eat a meal, or will you offer van service to tourist attractions? Will there be enough room for family reunions, company outtings, conferences?
Will you have any business partners? Are they in it for the long haul, or just a quick buck (which won’t happen), make sure you have contracts drawn up by a trusted lawyer that spells out everything.
you need a nice new large bed and a stove..maybe a roof too..
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the size of the facility
how many rooms
room decor style
what kind of mattresses to use
how to keep the rooms clean
how to keep everything space efficient
customer service
many other things
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Staff, who is going to be there almost 24/7, who is going to cook, a reservation tracking system, advertising, other activities, insurance, business license, food prep licenses, enough linens, cockery, glassware, amenities etc.
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Location… Location… is first.
Then you will need to follow your local rules and regulations regarding such a business venture.
Next, you will need the right facilities and a good and cheerful early riser to cook breakfast…
Good luck, this should be an enjoyable business.
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You would need a nice place to make this work. People can stay anywhere your place has to have some sort of attraction that will help draw the guests to choose your place over others.So LOCATION will be important in this venture. Then of course the important part of having nice rooms and comfortable beds along with a pleasant atmosphere and a good hearty breakfast served in the morning. Insurance and lots of money couldn’t hurt either.
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~M~
First off, take classes in hotel management, running a B&B is a business venture from the get-go, and lacking financial savvy can ruin a business in no time. A B&B doesn’t start making profit till about five years after it first starts, there is advertising (not just ads, but word of mouth from satisfied customers), repeat business (again, are they telling their friends and family about you), staffing, insurance (lots of it, never know someone will sue for an injury or food poisoning), supplies (are you buying fresh and local, having items imported in from other states).
Make sure you have a clear idea of your goals, and the things you need to achieve these goals (see above). Now location – what’s the competition like in the area you’re looking; do you have a place in mind, but it needs renovation; how is your standing with credit, can you afford a place outright, or will you have to mortgage. Remember, all places, no matter how new or old need some sort of renovation. What will you offer the customer, just a place to sleep and eat a meal, or will you offer van service to tourist attractions? Will there be enough room for family reunions, company outtings, conferences?
Will you have any business partners? Are they in it for the long haul, or just a quick buck (which won’t happen), make sure you have contracts drawn up by a trusted lawyer that spells out everything.
References :