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.
Unfortunately, there aren't any great college courses on "How To Start A Profitable Bed and Breakfast". (And if there are, they are probably taught by someone who's never owned one!) The statistics don't lie. Most B&B's aren't making a lot of money, and are hard to sell. We became frustrated seeing unsuspecting new owners lose their dreams (and their nest eggs). Sometimes it's just a lack of insider information that causes their operations to not meet their expectations. Especially for an older b&b rookie, this can be devastating in what should be their happy twilight "smell-the-roses" years.
We have put together a special quiz so you can test and see whether you current bed and breakfast business knowledge is based on today's industry realities, a romantic notion, or b&b information and training that was valid 20 years ago. (Newsflash: times have REALLY changed!)
It is our hope that this quiz, and the answers, might stop the growing statistics of b&b owners losing their dreams. So, before you spend your hard earned money acquiring and opening your B&B, we urge you to try the quiz.
Take The B&B industry quiz (click here)!
There are very successful bed and breakfast operators. There is a HUGE number of well meaning, hard working rookie owners who simply aren't aware of the "insider secrets" to creating a profitable b&b. If you would like to know what caused us to sit down and write out this information, click here to read that story.
The Farnhams (Patricia and Robert)
(authors of "Bed and Breakfast Profits)
(We LOVE B&B's)
More Related B&B Reading:
Purchase a Bed and Breakfast
Before you purchase a bed and breakfast, there are a number of things to consider. Not everyone is capable of handling the heavy tasks of an innkeeper. Itís best to be sure that you know what the reality of the business is. No one wants to be left chasing a pie in the sky type of dream. The first thin
(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
Hello Robert and Patricia
Just had to write and say thank you! Great information. We can see the light!!
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"Buy a B&B"