If you have decided that you want to run a bed and breakfast you really need to go into it with your eyes open. Many people have a romantic dream of owning a bed and breakfast, but the reality turns out to be very different from how they thought it would be.
Are You Up to the Job?
Before you even start looking for a suitable bed and breakfast to buy, you must think about whether you are the type of person who can be successful as an inn keeper. Running a bed and breakfast takes a great deal of work. The hours are long and the profits are often remarkably small.
You have to be in the business because you really want to. Although some people do make a good living from it, you will definitely be working very hard. Unless you are dedicated to really wanting to run a bed and breakfast business you should probably look elsewhere.
You have to have a genuine passion for meeting people and wanting to make their stay as pleasurable as possible. You will meet some very interesting people, but you will also meet some people whose only mission seems to be to complain about everything. Will you be able to deal with the bad and the good guests?
Is your family completely on board with the idea of running a bed and breakfast? Many couples run the business together, but others want to keep at least one person employed. You may work longer hours than your partner and this can be a source of resentment.
You also have to be aware that unless you hire people to look after the bed and breakfast while you are not there, you will rarely get any time off or vacation time. This can impact on family life. Everyone has to be on board with the idea of running a bed and breakfast or this can quickly create conflict within the family.
Are You Looking in the Right Area?
Once you have decided that you do want to buy a bed and breakfast you will have to start the search to find one. If you are thinking of converting your own home to take in paying guests, you will still have to think about whether or not it is the right house in the right location.
You have to decide which market to cater to. There are many questions that you need to ask yourself. What kind of guests do you want to attract to the business? Would you like to target families, or are you more of a romantic couples retreat kind of place? Will you take pets? These are just some of the questions that you need to ask yourelf when you are thinking about the type of the propery and the location.
You should also look at the competition in the area. If there are bed and breakfast businesses already in the area you should do some research to see how successful they are. Is there room for another bed and breakfast in the area or has the market reached saturation point?
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