Starting a Bed and Breakfast business - the basics
by Startacus Admin
Starting a B&B business - the basics...
Yesterday we published a holiday related post on managing a business when on holiday if you are self employed and to continue the holiday related theme this post focuses on starting a B&B business and the basics you may need to consider. So without further ado, check out our guide below...
Market Research
Some of the basics you will need to consider are:
- Where you are planning to start your B&B - will it be your existing live-in property or will you buy a new house? Will it be in the countryside / city centre or by the sea?
- Will you buy an existing B&B or look to convert a house into a B&B?
- Is there a need for a B&B in the location you want to base your business? How many other B&B’s are local to where you will be based and how often are they fully occupied?
- Research the type of price you can charge depending on the type and standard of the B&B you open and also make sure that the research you do is local to your demographic.
- What do people want when staying in a B&B - what services, food, are typical and what could you offer that is potentially unique / different?
- Pop into potential rivals - and research the type of welcome you receive. Perhaps even stay in a few to get a better understanding of the type of work you will have to undertake and what type of service your competitor offers.
Planning and Development
Based on all of the above, what can you offer that will mean you have a viable and profitable B&B?
- Have you written a business plan?
- Do you want to go it alone or set up with a co-founder? Or even employ other staff from the start?
- Is there a need for your service on top of what already exists or what can you offer that you will do better or differently?
- Where locally / nationally will you advertise your B&B and what contacts would you be able to make with tourist boards, tour operators to make sure that your B&B is on the radar?
- What national websites can you advertise on that are specific for B&B’s and how much would it cost?
- Do you need your own website? Who would be able to design your website? How much will that cost?
- What will you call your B&B business? Can you think of a unique name or a person / character / location that will make your B&B synonymous with the area you live?
- How will you market your business?
- Pricing - how much will you charge and have you decided on the type of B&B and star rating you are looking to achieve?
- Do you plan to live in your B&B and if so how will you divide the house so that there are private and separate living accommodation for you and your family?.
- In terms of planning to divide the house - how will you make the B&B suitable for guests?
- On top of offering breakfast, will you offer evening meals to your guests?
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Published on: 27th June 2013
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