Can You Deal with The Complainers?
You may love having house guests. However, have you faced the reality of always having stranger in your home? These strangers will be expecting a high level of service and may be very quick to give negative reviews. You must think about whether you are tough enough to take the good with the bad
You must be willing to accept that some guests will complain whatever you do, and others will complain because there is something which needs to be fixed. This is a business and you must make sure that your customers are happy. That will often require a thick skin.
You should always be looking at how you can improve your bed and breakfast for your guests. Taking constructive criticism is essential and so is accepting that there are some guests who will never be happy. Only you can decide if you have the temperament to deal with guests who are not happy with the service they have received.
Can You Afford the Risk?
Running a bed and breakfast usually requires a very large initial financial commitment. If you buy a bed and breakfast business as a going concern, there is likely to be a very large capital outlay. Some people use their life savings to invest in a bed and breakfast business. You need to be very cautious about doing this and you always need to take expert advice.
You would most likely not risk a lot of money in most business ventures, but somehow people buying bed and breakfast businesses tend to have an idealized view of how things will be. They cannot see past the romantic ideal of owing a bed and breakfast. However, you must always be sure that you have good financial and business advice.
Even if you already own a suitable property the costs of converting your home to be a viable bed and breakfast business can be high. You must make sure that you have a separate living area from your guests. Running a bed and breakfast is not like simply inviting family and friends to stay. You will want to make sure that there is a very clear separation for you and your guests.
Always take proper financial advice before you start a bed and breakfast business. It should always be treated as a business venture, no matter how tempting that it may be to see it as anything else.
Do You Have the Support of Your Family?
You will be inviting people into your home as guests. It is a business venture, but you will be most likely using the place that you are also using as a home for your family. The most fundamental question is does your family who are living with you agree that this is a great idea? It may be your dream, but is it theirs?
Running a bed and breakfast impacts your family hugely. It is such a unique business venture that your family will almost certainly be hugely affected by it. Make sure that they are completely on board with the idea before you go ahead. If you don’t it may have very serious consequences.
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