Owning a Bed and Breakfast is Harder Than it Looks

Bed and breakfasts evoke images of leisure and charming discussion with the owners. First-rate owners make it look so effortless and fun! The reality is that guests see 5% of the effort that goes into a bed and breakfast. Before you buy an inn or turn your own house into a B&B, you need to do some homework.

The business aspect of running a bed and breakfast needs to be assessed before committing yourself. Stay at a variety of bed and breakfasts and jot down those details you consider important. Make note of negative things that made your stay less enjoyable and avoid them. Ask the owners questions to get an understanding of the commitment. Offering to buy someone a nice dinner or lunch in exchange for the opportunity to pick their brains has a great track record for success.

A business plan is necessary. Your start up costs and profit margin will impact your overall income. Determine if starting a bed and breakfast is financially realistic. An Inn Consultant can be a big help in this regard.

Consider the cost of renovating rooms and buying hotel quality linens and towels. Your washer and dryer will be used every day. Can they handle daily usage? Consider the condition of your kitchen. You will need to cook breakfast efficiently on the appliances. New appliances may be required. Consider your utility bills after heavy usage of appliances in your bed and breakfast.

Promotion is a necessary expenditure when starting a bed and breakfast. Bed and breakfast brokers create a directory of inns for a fee. Consider listing your business in travel magazines, publishing brochures to distribute to travel agencies and other locations around town.

Many guests look for lodging on the web. A website requires some start up fees and, depending on your computer skills, you may need to hire a webmaster. Free advertising is available. For example, public service announcements on public radio, articles written by the newspaper, and word of mouth can all be free.

The number of rooms you have will obviously establish the number of guests you can have. How often you have visitors will determine the profits you make. Find out the accommodation rate at other local bed and breakfasts to determine your rates.

Establish policies for check in and check out. Cancellations and late arrivals can cost you money. Determine your policies on animals, kids and smoking. All three can damage your home and should be considered in repair costs.

Once your business plan is done, evaluate the reality of owning a bed and breakfast. Being realistic before the money is exhausted and the guests need more towels is much easier than finding out all of the buried costs after the fact and you are already committed.