Not all businesses that seem to fill your bank account
with uncountable money, are actually that profitable.
Grass on the other side is always greener. Before you
proceed to write the B & B business plan, get a clear
understanding of some important aspects of the
Understanding What Is B & B Business
Understanding The Business Demands
Understanding The Profit Potential
Understanding The Market Segments
A Bed and breakfast inn is a kind of luxury accommodation that
provides the best of home luxuries as well. While the ambiance is
quite romantic and royal, the food is home cooked. It is usually a
small establishment, unlike chain hotels.
The idea is to provide expensive luxury living with the best of home
food delicacies. B & B inns also treat their guests with small gestures
and surprises like Jacuzzi, luxury bathing salts, antique lighting, and
more. For the owner, it’s a full time occupation that demands a
specific kind of lifestyle.
Your involvement in the day-to-day operations of the business will
be as much or as little as you want. You essentially need to be
present at inn at all times. Your most important task should be to
meet the occupants, talk to them while taking a stroll or have a
quick chat over a cup of coffee.
You and your family should be prepared for and enthusiastic about
fulfilling the expectations of the visitors and making it a brilliant
experience for them. It is very demanding if you are not planning to
hire people for everyday tasks at the inn. These decisions will give
you the basic framework for your B & B business plan.
The primary reason for running a business is profits. There is no
straight way of calculating profits. It is a complex function that
includes a number of variables. It depends on factors like the
location of your inn, the holiday season, average occupancy rate,
how popular is our business and more.
Bed and breakfast inns have become really popular in the recent
years. They are a great experience for the customers, but it is not a
very high profit industry. Make sure you are aware of the industry
averages before you decide to enter this industry. Passion for this
business is important.
You must know where your business comes from and what the
target market segment is. It is an important part of the B & B
business plan. The typical customer segments for bed and
breakfast inns are
Local Getaway Seekers
Tourists like staying at a place that makes them feel relaxed and provides the comforts
of home. Make sure you provide a heavenly experience and make them feel pampered
on their vacation. The tourist market, however, has seasonal fluctuations.
Business travelers look for a place that provides them a quiet and serene environment.
It should turn down the city buzz and still keep you connected to the world. Unlike,
tourists, the business travelers offer a year round market.
Romantic getaway seeker can be those who want to indulge in the luxuries of staying a
huge mansion, snuggle up in a light quilt and sip a cup of coffee with eggs and bagels
for breakfast. Their stays are short, but they don’t mind being extravagant!
For more info visit: Http://www.masterplans.com