4 Stages of Running a Bed and Breakfast, Guest House or Inn
Hello, I’m Yvonne Halling and in today’s
video I’m going to talk about the four stages of a B&B Business, guest house or inn, so
that you can determine where you’re at, and I’m also going to give you the truth about each
stage, so that you can evaluate and move forward with confidence. So whether you’re new or you've been doing this
for a while, this video will help you identify the steps you need to take next to protect
your business and yourself.
Stage 1:
You’ve just opened and everything is new and exciting. Your dream of running your very own B&B, guest
house or inn has finally come true. Guests are coming and they’re saying wonderful
things about you. You love it and maybe you're wondering why you didn’t
do it years go! You decided that you wouldn’t get any help
with the laundry or cleaning. You’d take care of that yourself, until
you made enough money to hire someone, so you’re very busy doing everything, but hey, you’re
loving it, and everything’s great. Here’s the truth about this first stage
– it tends not to last very long, and you could find yourself exhausted from all the
unrelenting, and endless laundry and cleaning.
I can’t tell you how long it will take before
you realise you’re worn out, but I can tell you this. It will happen at some stage, so here’s
what to do to avoid it. Whatever you think about hiring help, and
the perceived expense of it, if you’re running a business, where you’re depending on the
income to support you, as opposed to a hobby where you’re doing it for fun, I recommend
you get some help right now. Don’t wait and see how it goes. Start as you mean to go on. The second stage is the “still loving it,
but it’s not so easy any more” stage, where you’ve got a steady stream of guests
booking, but you didn’t hire any help, and now you’re feeling a bit overwhelmed with
the daily workload. You’re not exactly sure when or how the
next booking is coming, and you’re looking at the financials and feeling just a little bit anxious
about that. So you decide to list with online travel agents,
because that’s what everyone else seems to be doing, and there’s an uptake in bookings.
Phew! You can relax now. The commissions are a bit of a nuisance, but
it’s worth it because, the important thing right now is to just get bookings to keep
the money coming in. The guests aren’t exactly the ones you’d
most enjoy welcoming, and there could be a few more last minute cancellations, but hey,
you just have to roll with it, right? Here’s the truth about the second stage. You may have more bookings, but your profitability
is down, because you’re having to pay commissions. If you’re overly reliant on online travel
agents, meaning more or less 30% of your bookings, then make no mistake, they’ve
got you and they’ve got all the power.
And those guests could become more problematic
for you over time, and resentment could creep in. And you’re still doing all the laundry and
cleaning yourself. Here’s how to avoid this very common scenario. As in stage 1, you have to get some help. You can’t carry on working yourself into
the ground. And when you’ve got help, you’ll find
you have more time to rest and to start learning about your real job, which is getting in front of those who would love to book with you, in a way that works for you. Let’s move to the 3rd stage, and this is
typically where you find can’t go on like this. You’re still doing most of the cleaning
and laundry, because you’ve convinced yourself that good, reliable help is really hard to find, and so it is. You’re relying on online travel agents for
more than 50% of your guests, you’re paying commissions left right and centre, you cannot
relate to your guests – who are these people who do X, Y & Z?), there’s more cancellations and
the thought of a negative review keeps you awake at night.
This is what I call the wilderness. You’re doing everything you know how to
do and it’s still not working. You’re might be at the end of your rope. Your dream business could be a distant fantasy and
you’ve no idea what happened. You’ve become cynical, resentful and fearful even. You hardly recognise yourself in the mirror. Each season seems to be a repeat of the last, with
more of the same challenges and you’ve had enough
At this point you may decide that you’ll sell or give up and put it down to an experience. Hello? There is a way out of this, if you’re willing
to listen, learn and take action. I promise you, there is. You see, there are just 4 key areas that you
need to focus on to turn your ship around and have it running like you want it to, welcoming
guests that you want, and making the money you want. I’ve created a framework that worked for
me and dozens of owners just like you, and I’d love to show it to you, free of charge.
If you’re interested in taking a look, then
click below to register for my next Masterclass and let me help you break free of the trap
you’ve unwittingly fallen into, through no fault of your own. Click below now and I’ll see you there..
