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Bed And Breakfast Business Plan

 

Starting A Bed And Breakfast Business

Starting a bed and breakfast business is a dream many people share.  Getting away to the country and running your own bed and breakfast business is appealing to many workers who feel trapped in the daily rat race.

Starting a bed and breakfast business is not as simple as it may sound.  There are many things to consider before opening a bed and breakfast business.  Some advance preparation and a good business plan can make all the difference in the world.

Writing A Detailed Business Plan

Begin by sitting down and writing out a detailed business plan.  What do you want to accomplish with your bed and breakfast business? 

What types of revenues do you hope to generate.  What expenses do you foresee? 

Planning all this out ahead of time will help you make the most of your business and help you avoid unwanted surprises down the road.

In addition to helping you see the big picture, a good business plan is essential if you plan to seek any outside financing or business partners for your bed and breakfast business. 

Any potential lender is going to carefully sift through your business plan when determining whether to lend you the money you need.

An Accountant Or Tax Attorney

You will also want to meet with a good accountant or tax attorney before starting your bed and breakfast business.  These business professionals can help you decide how to structure your business to keep your taxes low. 

They can also help you decide whether or not your business should incorporate.  You may want to look at incorporating your business to limit your personal liability as well as to gain certain tax benefits.

A Wonderful Location

Unless you already are blessed with a beautiful old manor in a wonderful location, you will need to shop around for a suitable property to establish your bed and breakfast business. 

Shopping for a suitable property can be a daunting task, but once again advance planning can make the search easier.  Decide up front what part of the country you want for your bed and breakfast business. 

Don't forget to research local zoning laws and ordinances to make sure the property you are looking at can be used for a bed and breakfast business.

Explore the area around that destination.  What types of activities are already available?  Are there popular tourist attractions nearby?  Are there services you could offer that other facilities do not?  Setting your bed and breakfast business apart from all the other lodging options will help drive business to your door.

Supplies And Furnishings

You will need to find a good steady source of supplies and furnishings for your bed and breakfast business. 

Check with companies that cater to the hotel and restaurant industry.  You may be able to get excellent prices on things you will need every day – things like linens, napkins, place settings, sheets, blankets, towels, etc. 

You will also need a good source for cleaning supplies and related items.  Check with your local wholesale community to find the best prices on these types of items.  If you are located in an area with lots of hotels and restaurants, there may be more than one wholesale provider near you.

Doing Your Homework

Opening a bed and breakfast business can be hard work and a great challenge.  Doing your homework at the beginning of the process can help make owning your own bed and breakfast business the rewarding experience you've always dreamed it would be.

How To Write A Business Plan… Made Easy

Planning… Planning will help you to keep everything in proper perspective, because without a step by step business plan, there is no way you can keep your business running successfully.

The Help You Need With Writing Your Business Plan that is broken down so that anyone can do it. Find Out More...


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