Your Rival Can Be Your Friend
It is usually a mistake to see your competitors as the enemy. Most successful business owners know that being friendly with their competitors can bring advantages to their business. Do not see every bed and breakfast business in your town as a rival – they may be a good source of business for you.
You will sometimes have bookings that you cannot fulfill because you all your rooms are already taken. The bed and breakfast owner down the road probably has the same issue. Why just let the business go to another town or simply be lost altogether? If you had a great relationship with a bed and breakfast which is like yours, each of you could simply refer each other business. This is a winning situation for everyone if this is a balanced relationship. Do not always see the competition as a negative thing. You can learn from them and often by fostering a good relationship with them you can each increase your business revenue.
Referrals Are a Great Idea
We have already talked about how other bed and breakfast owners can refer your business to increase your revenue. Another good idea is to have a referral scheme for your guests. A lot of your business will probably already come from happy guests referring you to their family and friends. People always look for personal recommendation when choosing a place to stay.
It is very easy to implement a referral scheme. You can offer exiting guests a discount code for themselves with an incentive to refer other people to you. You could offer them a discount per night or a subsample monetary discount on their next stay. You can give them a coupon code for their next stay which they can also pass on to family and friends.
The simplest way to do this is to send them an email the day after they have checked out. You can ask for feedback and give them a coupon code with the terms clearly set out. This is a great time to ask for feedback. You can easily do this online as there are plenty of inexpensive and free survey sites, so that your guests can give you feedback.
You could also offer discounts for longer stays, or free nights if guests stay for a certain period.
Look at Your Expenses
All businesses need to look at their expenses as well as their income. Are there some areas where you could easily be saving money? We are not suggesting that you cut corners on things which are important to your guests. You will want to offer them a high-quality service. However, there may be simple changes that you can make to save you some money.
Your utility bills are probably one of your biggest expenses. Look at how you can cut down on your energy bills by introducing more energy efficient appliances.
Photo by peyri