Buy a B&B
Here's To Your Profitable
Bed And Breakfast
Buy a B&B
It takes a special kind of person to successfully buy a B&B. Even someone experienced in other forms of business wonít be able to simply waltz in and take over. This is the kind of venture that starts best as a dream. You have to truly want it, especially if you plan to be using your very own home. Even experienced B&B owners are encouraged to acquire outside information from time to time. Guests continuously change over time and so do their requirements.
One of the most common mistakes people make when they buy a B&B is buying the wrong piece of property. Often the regular upkeep of a large property or the maintenance of an older one can become overwhelming to those just starting out. Most B&Bís donít start turning a large profit in the first year. It takes time to work your way up when you have overhead and staff expenses. Property expenses are high, consider them carefully. Running a bed and breakfast is not as simple as catering to guests. It goes much deeper beyond that common misconception.
Itís important to be realistic about your strengths and weaknesses. Knowing and understanding your limits can save you time, money and trouble later on. There are a number of seminars available on how to buy a B&B as well as courses and programs. You may find these to be helpful as they can point out aspects you may have overlooked and supply tips and advice that may prove useful later. And for the completely clueless it can give you that much needed push in the right direction. Make sure you know what resources are available to you and take advantage of all information. It can be just what you need to succeed as an innkeeper.
Here is a horrific fact. Most B&B's can't be sold!
The majority of B&B's simply don't generate enough revenue to make them viable businesses.
The good new is that there is a small group of owner/operators who have busy, profitable operations and are becoming wealthy.
Unfortunately, many new B&B owners simply don't have the insider knowledge to succeed in today's environment.
Too many hard working individuals are losing their money, and their dreams, due to a lack of specific information.
If you are thinking about opening your own B&B, or struggling to make your current place profitable, please take our quiz to see if your "industry knowledge" is up to date.
Most of the current Bed and Breakfast training is based on an industry that existed 20+ years ago. Today's marketplace is much different. This is the insider information that the wealthy minority use everyday to improve their operations. Do you know whether you are seeing today's B&B big picture, or your knowledge is still based on an industry that existed in the 1960's, 70's or 80's??
Test yourself with our B&B industry quiz (click here)!
One particular struggling B&B couple caused us to write down this information. We knew there was just one or two things we could have told those rookie owners that would have made a difference. Unfortunately, we didn't get the chance. To read more about that story, click here
The Farnhams (Robert and Patricia)
(authors of "BedandBreakfastProfits)
(We just LOVE B&B's)
More Related B&B Reading:
Bed and Breakfast Sale
If you have a bed and breakfast for sale you just might have a lot of work on your hands. Some people are under the assumption that selling a business is easier than buying one. This fails to be true in many situations. In the bed and breakfast industry you canít simply sell all the problems that arise.
(read the complete b&b article.)
Do You Have What It Takes To Become A Successful,
Profitable B&B Owner/Operator!
(click here to find out)
More Readers Comments
I wasn't very happy after taking your quiz. In anger I signed up for the emails. I hate to admit I learned a thing or 2. My advice would be to change your quiz so it's not so confrontational. I'm sure you lose a lot of customers with those quiz questions. The ebook is excellent.
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"Buy a B&B"