Q: What should I know about running a B&B?
May 06 2008
Answered by: Adam Wayland Ask a question
Lots of people consider starting up a B&B, especially couples with children that have now moved away from home, leaving spare space available to rent out.
A B&B can range from a couple of spare rooms in your house to an outbuilding converted into living quarters. It can be a good source of extra income, but there are a few things to think about before jumping in at the deep end.
Initial costs – If you are going to spend lots of money converting a building or decorating spare rooms, the cost of doing so needs to be weighed up against the money you are likely to make.
Remember that it will take time for your new B&B to become established, so you might not make money from day one. That means you will need to be able to finance your business until you can generate some revenue.
Location – It’s not essential to open your B&B next to a beauty spot or place of interest, but it will certainly help. Where you are located is critical to generating enough business to make it worthwhile.
Look at this example, www.vicaragebedandbreakfast.co.uk, the website emphasises the local markets and attractions, the local produce that the owners use, as well as the fact that the accommodation is peaceful and secluded – all plus points for visitors.
Remember that it’s not only holidaymakers that need accommodation. For instance, if there is a university nearby, parents visiting students may provide some business for you.
Seasonality – The hospitality business can often have a high and a low season. If the B&B is going to be your only source of income, will you make enough money when it is busy to see you through the quieter months between November and March?
Try to establish when this quiet period might be and think about what you can offer during the low season. Is there an attraction nearby that you can emphasise in your advertisements during the low season?
Pricing – To get an idea of how much you can charge, look for B&Bs in your area and compare their prices. What do they offer? Factors that can affect price are location, room size, the type of accommodation offered – if you have very private accommodation to offer, you will be able to charge more than simply renting a room in your own house.
Breakfast – These days, people will expect to be treated to a full English breakfast and you would be wise to offer a vegetarian option too. A bowl of cereal and a cup of tea just won’t do.
People appreciate and pay for good quality food and local produce, but it doesn’t need to be Michelin star quality. Try to offer something that you would be happy to eat while away and pitch your prices accordingly.
Advertising – Some B&Bs rely on inclusion in guidebooks and others advertise, but for many it’s a matter of word of mouth. The better the experience you offer, the more likely you are to be recommended to others. You should also build yourself a website. Here’s an article telling you how to get your business online.
Your personal space – Inviting strangers to occupy part of your home or property can be very intrusive. If you are not prepared to share your home with people you don’t know then you may need to think again. Are you a very private person or do you genuinely like people?
There are training courses available that are designed to help you establish whether you are the right sort of person to run a B&B and give you a better idea of what is involved. For example, visit www.bandbtraining.co.uk.
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