Start a B&B
Bed and Breakfast accommodation is an ideal business for someone thinking of a self sufficient lifestyle.
B&B's do not have the hustle and bustle of hotels. They are able to provide a simpler form of accommodation, catering to smaller numbers of guests, and providing a more informal or even personal interaction between guests and staff/owners.
Food from the garden can be used in a B&B.
With one or two rooms offered for B & B accommodation, a self sufficient household may be able to raise adequate income to provide for most (if not all) of the needs not created through their on site efforts.
Setting up a B&B can involve things that are not always obvious from the start though.
Providing the service is just one issue. You also need to have appropriate permissions (e.g. local government permits might be needed), and you need to need to effectively find and cater to customers needs.
Prepare Before Investing Time and Money
Before deciding whether to start a Bed and Breakfast business venture, you should undertake solid research and compile a good feasibility analysis.
1. Help you crystallise your thoughts and goals. Consider:
- Does the prospective owner have the right temperament to run the business?
- Were all organisations approached for relevant information?
- Did the prospective owner carefully consider the cost, and other implications of admitting paying guests into their home?
- Are calculations of expenditure versus foreseen income available?
- Are skilled staff readily available?
- Will additional tasks become burdensome to the owner?
2. Provide you with a document to help convince others of the viability of the project (e.g. a bank). Consider:
- Do you need to obtain financing.
- Will you need to convince suppliers to give you credit.
- Do you need to convince a partner or family; or at least allay their concerns.
The following should be included in a feasibility analysis:
- Do similar facilities exist in the vicinity?
- If so where are they found?
- At which markets are they targeted?
- Could there be a market overlap with the proposed venture?
- Is there a need in the market for the proposed venture?
- What percentage of the overall market would the new venture be expected to draw?
- What markets should be targeted?
- What are the occupancy levels of other establishments in the area?
- Clearly determine the financial objective of the new business.
- Project income and expenditure scenarios for a reasonable period.
- Investigate the availability and cost of skilled staff.
After researching all aspects concerning the business, a working plan should be drawn up to include the following:
- The daily operations of the business.
- Legal matters.
Learn About Planning and Operating a B&B
If you are interested in considering the idea of a B&B more seriously, take a look at studying our Bed & Breakfast Management course. This covers all aspects of managing a B&B or guesthouse.From the provision of facilities, to food, to financial management of the business.
The course is studied by distance learning and is available to start at any time. You choose when and where you study, this means you can fit it around your existing commitments and plan to embark on your venture once you have successfully completed your studies. You are supported in your studies by our excellent tutors, who are available via phone or email when you need them. To find out more, please get in touch with our specialist Hospitality tutors today. They will be pleased to answer your questions, and explain more about studying with ACS.
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