I am thinking about possibly opening a bed a breakfast. What are the first steps I should take, and who should I speak with to find out the smartest way to do what I am planning?
2007-09-25 08:38:06 · 7 answers · asked by Sunshine 4 in Business & Finance ➔ Small Business
According to my lawyer when I opened my first business:
1. A business plan (go to the library and check out a book on how to write one). Without a plan you will not earn as much money as you could otherwise.
2. Look at your localy municipality for required zoning/permits/etc. This you will need to address in your plan as well.
3. Contact B&B outside your area and see if someone responds - run your business plan by them and see what they say. Join local associations of small business owners or local hospitality - they can give you great advice too!
4. Don't take a loan - if your business fails (even if you incorporate) you will have to pay it back - best to do with what you have.
2007-09-25 08:45:00 · answer #1 · answered by Professional in FL 4 · 1⤊ 0⤋
First you need to check how much money it would be. Then you need to make sure you have the materials and room to do so! Then you might want to call a local Bed and Breakfast and tell them that you think u r going to set up a bed and breakfast and you need some tips or secrets. Then you might want to ask around and see if some of your friends would come to it, or put an ad in the newspaper. You need to think if it will be a family or couple or whatever. Ok so your almost done! Then you need to set up materials and test them on your family and friends and see what they think about how you set it! You need to get menus and ideas for little specials you will do. Like Friday's donuts .10 or something. Really whatever you want to do! Then you snap the trap and get customers! I am only a teenager but I hope it helps!
2007-09-25 08:45:49 · answer #2 · answered by Anonymous · 1⤊ 0⤋
See if your even able to get a loan for this first. Banks are a little more careful now due to all the defaults happening and a bed and breakfast is about as risky as a bar or restaurant. Unless your rich or have a 500k paid off home to put up for collateral, it will be next to impossible. Good Luck though, not trying to be a downer, just being realistic here.
2007-09-25 08:48:21 · answer #3 · answered by ? 3 · 1⤊ 0⤋
(1) Research, research, research. Talk to other B&B owners, especially those with similar locations (not your competitors!).
(2) Write a business plan. As you do research, identify specific issues (business licensing? liability insurance? code requirements? reservations through travel agents? advertising? hiring employees? handling disgruntled guests? rules and regulations?) and create sections for each main issue and sub-sections for smaller issues. Make sure you understand all these costs and issues.
(3) If you've never worked in a hotel or B&B, do it now.
(4) Talk to your banker(s) about what may be involved if you need a business loan or line of credit. Even if you don't need a loan now, consider whether you may need one later. And these guys know what causes their customers to default on their loans, so they are full of advice.
(5) There must be some books, perhaps even seminars, about opening a B&B. Use them.
2007-09-25 08:47:33 · answer #4 · answered by Mark Welch 5 · 0⤊ 0⤋
coming up a corporation plan, for specific. not in easy terms something you spend some days engaged on, it must be something you study and placed an excellent volume of time into. The extra special that's the extra useful. you may look for financing (capital) yet you will not get any in case you do not have a corporation plan to coach your skill investor / financial organisation. you may look for a place to do corporation yet in case you have not any operations plan, how can you somewhat understand what you like? you would be certain what you prefer to sell and to whom yet what would be your plan to get your provider or product on your audience? A sparkling concept is the initiate on your corporation plan, study your audience and your opposition, yet in no way ignore that in case you fail to devise you intend to fail!
2016-11-06 08:45:05 · answer #5 · answered by heilbrun 3 · 0⤊ 0⤋
speak to other bed and breakfast owners . they should be able to give you some idea. lots of research should be done and classes on management and health codes and food safety if you are supplying breakfast for your guests. insurance liability is a big one too.
2007-09-25 08:41:39 · answer #6 · answered by Aloha_Ann 7 · 0⤊ 0⤋
first be patience and jot down every do and dont
and write ur plan of action if you are taking loan from bank then tell them about ur plans and yes ur best freind maybe gr8 help to you
all the best to you
http://www.citybuzzer.com/
2007-09-25 08:44:53 · answer #7 · answered by Anonymous · 0⤊ 0⤋