Have you been dreaming about owning a bed and breakfast? Are you getting to the point where you want to stop dreaming and actually starting doing? Do you need some help figuring out how to go about owning a bed and breakfast?
I know how difficult it is finding information that applies specifically to your situation – I’ve been there! And that’s why I am so passionate about helping people to get started on their journey – to help them to figure out if a bed and breakfast will bring the personal fulfillment and the income they are looking for.
Have some of these ideas ever crossed your mind?
I’m a nice person and I love to meet new people – I’m sure I will make a great bed and breakfast owner!
Even seasoned B&B owners can reach the end of their rope with certain guests. And believe me, with on-line reviews the most important tool for getting people to stay at your bed and breakfast, you have to be prepared to deal pleasantly and positively with situations you never dreamed of! While we are not all perfect, there are 25 personality traits that will help you to handle even the most trying of guests!
How hard can it be? All you have to do is make breakfast and do a bit of cleaning and laundry!
Did you know that there are 15 tasks that you are required to do every day that take a minimum of 15 minutes each to do to make sure your B&B runs smoothly? And that doesn’t include the 7 weekly tasks that each take at least 2 hours to do.
Also, if you want to make money from your bed and breakfast, then you need to think about running it like a business. To run a business not only do you need the right skills, but you also need the right attitude. Do you have the skills that are required – or are you prepared to learn them?
I want to use my home as a bed and breakfast – all I need to do is let people know I am open for business!
If you are inviting paying guests into your bed and breakfast, in order to avoid facing law suits, it is important that you make sure you have dotted all the “i’s and crossed the t’s”. Besides the 8 legalities that are involved with owning a bed and breakfast, do you have your family’s buy-in on how space is going to be used?
Speaking of paying guests…how do you know if people are going to pay enough to make it worth your while?
I want to get away from the rat-race and start my bed and breakfast somewhere with a slower lifestyle. It will make a great escape for other people who want a break too.
One of the hardest lessons I had to learn as a bed and breakfast owner was that people have to have a reason for coming to your area first. So, your location still has to have things to attract people to that area.
You may already know where you want to move to, but if you don’t then you need to be able to narrow down the search.
Once you’ve got the location down, in order to purchase the right property for a bed and breakfast, there are three essential pieces of research you need to do. This research will help you figure out if the people that are coming to that area people you want as your guests; and if they are willing to pay enough to generate the income you need from your B&B.
Finally, you will have to make sure that the property can be used as a bed and breakfast, and determine how to make sure that you are using the space in the house in a way that keeps both your guests and family happy!
I’ve always had a good relationship with my bank, and if I’m living in the house, there shouldn’t be any trouble getting a mortgage.
Even though you will be living in the house, remember what I said earlier about owning your own business? With the economic downturn that world has experienced since 2008, banks have become very cautious about lending monies to startup businesses.
If you will require additional financing in order to purchase your dream property, a business plan will be essential. A completed business plan, based on irrefutable research and positioned properly will be the one key piece that will ensure that you have a good chance getting the financing you require.
In addition, your business plan will provide a basis for building your business and guiding you through the first crazy days of getting started. On top of that, it will be a tool that ensures you will be able to identify and head off problems even before they occur!
It’s time to stop dreaming and find out for sure if you really want to own a bed and breakfast!
That’s why I’ve designed the 4-step “Design Your Dream Bed and Breakfast System“. Each step is available on its own, so that you can start at the right step for you!
Step 1: Design Your Dream B&B Minicourse helps you to clarify your vision for your new bed and breakfast and clearly define your reasons for wanting to own a b and b.
Step 2: Pros and Cons of Owning a Bed and Breakfast will help you figure out if you can handle the work that is involved, if you will have the patience required and whether owning a business for you.
Step 3: Learn How Much Money Your B&B Can Make focuses on making sure you find a property that will make both you and your guests happy and provide you with the income and fulfillment you are seeking.
Step 4: Creating a Bed and Breakfast Business Plan is the key to making your dreams come true! Based on the research that you did in Step 3, you will be able to move forward confidently, knowing that your plans will provide you with the proof that a bed and breakfast that will produce the fulfillment and income you require!
What other questions do you have? I’d love to hear them!