Owning a bed and breakfast is like getting sick, dealing with a loss or passing gas… there is never a perfect time for it to happen!
I’m not saying that there aren’t some very valid reasons for not moving forward at a particular time – I am a perfect case in point. From the time I decided I wanted to own a bed and breakfast to opening my doors, it was a five-year journey. I knew I didn’t want to use my suburban home as a bed and breakfast, so that meant a move would be required. As a single parent of two teenagers, I didn’t feel it was fair to make them move (again) and I wasn’t willing to jeopardize the ability to provide for them by quitting my job.
Family and finances are the top two reasons people tell me they can’t move forward.
Some of the other reasons include:
- Only one-half of the couple is interested in the idea
- They are uncertain if the location and/or layout of their home is suitable as a bed and breakfast
- They are afraid that they won’t make enough money
- They dread the amount of work that might be required
- They are apprehensive about having strangers in their home
- They worry that they won’t be able to get people to come and stay at their bed and breakfast
- They are concerned if they have all the skills required to make it a success
- They are unsure of how to go about finding a more suitable property
What do these statements have in common? I had them. Most of the people I talk to have them. They are based on fear of the unknown.
The definition of fear is:
Merriam-Webster Dictionary: an unpleasant often strong emotion caused by anticipation or awareness of danger;
Dictionary.com: a distressing emotion aroused by impending danger, evil, pain, etc., whether the threat is real or imagined; the feeling or condition of being afraid
I understand that fear – if you’ve read my no-cost e-book “3 questions that everyone who wants to own a bed and breakfast asks – or should”, I speak about having to take not one – but two! – motivational workshops about overcoming your fears in order to be able to take the final steps to owning my bed and breakfast.
I also understand how hard it is to get the right information that will help you determine the answers to the questions listed above. I read the books, took workshops and talked to other bed and breakfast owners. But no one could tell me that my fears were groundless (and I wouldn’t have believed them even if they did!)
It was only when I had my ah-ha moment that I talk about in the e-book that I realized I had access to most of the tools available to help me answer my questions. Since then, I have been able to refine them to meet the needs of people who are in the same spot I was in.
There are two main categories that the fears listed above tend to fall under:
- Understanding the pros and cons of owning a bed and breakfast for you – not someone else. Do the soul-searching you need to do to uncover whether you have the right personality and can handle the amount of work required, and
- Do the research to find out if your current home or another property will provide the type of guests you want in your home and if these people will generate the income you want.
Even with all this work completed, it will take a certain leap of faith to take that final step of owning your very own bed and breakfast. However, it will be a much more calculated risk, and you will know where your risks potentially lie.
So tell me, what’s your biggest fear about owning a bed and breakfast? What would help you overcome that fear?