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.
A little inside knowledge, and some action, could be all that is standing between broken dreams and a "For Sale" sign on the lawn, or a "No Vacancy" sign!
Take our quiz to see whether you are up-to-date on current B&B industry realities. Or, are you suffering from stone age training on how to run your bed and breakfast. I suggest you take the quiz and find out.
click here to test your current B&B industry knowledge!
There was a series of events with struggling b&b owner/operators that resulted in us publishing this information. To read that complete adventure, click here
We wish you the best
The Farnhams (Patricia and Robert)
(authors of "Bed and Breakfast Profits)
(We ADORE Bed & Breakfasts)
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The bed & breakfast industry is really booming. More and more people are avoiding hotels and looking for a much homier atmosphere for their stay away from home. It is such a hot commodity in the economy now that innkeepers are finding more resources at their finger tips than they ever thought possible. Pr
(read the complete b&b article.)
Do You Have What It Takes To Become A Successful,
Profitable B&B Owner/Operator!
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More Readers Comments
You have brought my attention to many business details I hadn't previously considered. Much of what I read was good ole' common sense. You reminded me that running our b&b isn't that much different from any other business. Thanks for the reminder.
Please let us know if you write a follow-up
Billy and Myrna P
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