Running a Successful Bed and Breakfast Venture
The only true business that can be run from your "home" is a Bed and Breakfast Venture.
Taking a decision to run a Bed and Breakfast establishment involves much careful
consideration, planning and financial calculations. Not only will it take up a
large part of your life - although with careful planning this can be kept under
control, but such a venture also holds out the prospect of making a very good
income for you.
Location, location, location. This is the prime consideration in any business
venture, more so in the Bed and Breakfast industry. A location can vary
enormously from being right in the heart of a busy town to being a remote
farmhouse. There is a demand for both.
Your location will probably define the type of clientele you will attract and
the level of your operation, the amount you may charge per room, the number of
bookings you are likely to receive etc.
Planning means - do you already have a house that can be easily adapted to cope
with a business of this nature? Perhaps you have an extension, barn, old stables
even an ex-granny flat or other buildings that would lend themselves to
conversion. Into this consideration will creep financial calculations.
The cost of conversion etc. If these are extensive, it may be that during the
life of the operation of your business you may well not fully recoup these
costs. Do not despair, when you eventually decide to sell and retire on your
profits, you will be able to take the cost of conversion, plus the fact that you
have a flourishing, going concern for sale, which will inflate the sale price considerably.
If you are in or near to a busy town then you will be more likely to attract
business people and workers. Here it is necessary to think carefully - Business
people and manual workers to not mix well, requiring different standards of
accommodation, working different hours and have greatly differing habits and life styles.
If your property is in a remote location it has advantages. You can try to
attract people who are seeking to "withdraw" from the rat race for a few days.
If you are within striking distance of a local natural attraction, i.e., a well
known walk skiing country etc. then holiday makers are more likely to be your
main source of income. One set of guests may be quiet and contemplative whilst
the others will probably be enjoying their adventure in the great outdoors.
A remote property it is more likely to be of the farm house type. Here you can
capitalize on this fact. Do not go overboard in modernizing your furnishings,
people will expect to see the rural effect, but not worn out and dejected!
However quaint the farmhouse effect may be, guests will still expect the wonders
of civilization to be readily available, i.e., good bathing and toilet
facilities. So whether a bucket and chuck it at the end of the garden would be
acceptable in the 21st century is a debatable point.