Tips To Start Your Own Bed And Breakfast

A Bed and Breakfast which is often abbreviated to B&B or BnB usually comprises a small establishment which offers overnight accommodation services along with breakfast. These self-catering cottages typically have around half a dozen rooms and provide a homely ambiance to its guests. Owners of BnBs often reside within the same premises and interact freely with the visitors. If you are planning to start your very own B&B, let us share some tips that might be helpful in getting you off the ground. 

What type of ownership are you looking for?

There are 3 ways to own a Bed and Breakfast. 

Firstly, you could own the property. The earnings from your business could help you to pay off your mortgage quickly. Once the house is completely paid for, you would make more money from your house than traditional homeowners. Furthermore, you could command a higher asking price than usual if you decide to sell your property off.

If you rent the property, you do not have to worry about maintenance since that is the landlord’s responsibility. Additionally, you also won’t have to pay mortgages. 

If you work as a hired manager, somebody else owns the entire establishment along with the business and you merely run it like a contractor. You do not incur costs such as maintenance, rent etc.

Are you cut out to be a B&B owner?

B&B owners love people and are perfectly at home entertaining strangers every day. They are empathetic people who enjoy taking care of others. They possess home-making skills such as cooking and maintain a clean and tidy outfit. They are adept at small repairs.

Do you possess the business acumen?

Make no mistake. B&B owners are entrepreneurs. If you own a self-catering cottage, you will have to plan the cash flow, liaise with suppliers and contractors, manage and hire employees, maintain and strategize maximum occupancy rates etc.

An excellent example of a successful B&B is the Park Farm Farmhouse at Stafford. Guests at Park Farm are treated to a host of facilities such as bedrooms with attached baths, television, internet, car parking etc.