How to Start a Bed and Breakfast Business the Right Way
Hi, I’m Yvonne Halling from www.BedandBreakfastCoach.com
and today’s video is about How to Start a Bed and Breakfast in the Right Way, so you
don’t make the mistakes most people make and waste all your time and money. Here are some common questions from those
who haven’t yet started. I’m in the planning stages and I’m concerned
about getting enough bookings to make a profit, will it be viable for the effort required,
will I get a good return on my investment, and I don’t know much about running a B&B,
where do I start? If these are your questions, then in this
video, I’m going to answer them for you. First, before you even go and find a property,
you’ll need to think deeply about how you’re going to stand out from the crowd.
The market has grown a lot in the past few
years, due mainly to the internet and the efforts of the online travel agents. That’s not to say there isn’t room for
you. There is. And you’ll need to figure out how you’ll
be different, and how you’ll market that point of differentiation, specifically to
the potential guest you want to welcome, especially online. This is called your strategy, and with that
in mind, now you can go look at properties. Most people do this the other way around,
so now you’re way ahead of the game. Next, when you’ve seen the right property,
you’ll want to work out how much you can charge per room, and what your costs will
be. To help you with this, I’ve created a neat
little tool called “Show me the Money”. You’ll need to plug in the number of rooms
and the average room rate per night, and it will calculate your gross revenue. Next you’ll enter in your expenses. First your variable expenses – those costs
that arise when someone stays in one of your rooms, and then your fixed costs, those that
arise regardless of whether someone stays with you.
Then you’ll have a net revenue figure. It will then calculate how many rooms per
year you’ll need to sell. Now you’ll know if you’re idea is viable,
whether you’ll get a good return on your investment, and how many bookings you’ll
need to make a profit To find out how to get this tool yourself,
click on the link below. Finally, when you’ve got your strategy in
place, and you’ve got the property, you’ll now enter the wonderful world of marketing
and promoting your lovely new business. If you’d like to know more about how these
strategies and many more have helped my clients to start a bed and breakfast successfully
while avoiding all the pitfalls other owners fall into, then click on the link below to
register below for my upcoming Masterclass where I’ll show you how to start your dream
business in the right way. See you there..
