Skilled team with a background in hospitality management.
Blend of tranquility and luxury in a nature-rich environment.
Whispering Pines B&B is a bed and breakfast establishment offering luxury accommodation and personalized service in a serene and natural environment. The business operates as a sole proprietorship, owned and managed by John Smith.
In terms of organizational structure, the business adheres to a flat hierarchy that encourages communication and interaction among the team members and with the guests. At the helm is John Smith, the owner and manager who oversees the day-to-day operations. He is assisted by Emily Dawson, the Guest Services Manager, who personally ensures every guest enjoys a pleasant stay.
The culinary department is headed by Tom Fletcher, who leads a small team of kitchen staff to deliver a delicious and wholesome breakfast each morning. Richard Sullivan takes charge of the maintenance to ensure the facilities are in their prime condition at all times. The team is further assisted by housekeeping staff and front office associates, who contribute to delivering a seamless service to the guests.
Given the nature of the business and the services it offers, staffing needs are relatively limited. However, with plans for expansion and introduction of more rooms and services, the requirement for additional housekeeping staff, kitchen staff, and front office associates may arise in the near future.
The business places strong emphasis on human resources policies and practices, believing that its staff is its biggest asset. The company's policy includes equal opportunity employment, comprehensive training programs, remuneration and rewards that are competitive, and work cultures that ensure a healthy work-life balance.
Currently, the business does not engage any external advisors or consultants. However, as part of future expansion plans, it may consider hiring a marketing consultant to boost the business's visibility and reputation, as well as a legal advisor to ensure compliance with all regulatory requirements.
In the end, the success of Whispering Pines B&B boils down to its commitment to delivering exceptional service, attention to detail, and the unique blend of nature, comfort, and luxury that it offers. With a strong and dedicated team steering the wheel, the business is poised to become a top choice for couples, vacationers, and nature enthusiasts.
Whispering Pines B&B specializes in providing a tranquil and luxurious accommodation experience with value-added services such as personalized gourmet breakfasts and concierge for local attractions. Our space combines elegance with homely comfort, offering six uniquely designed rooms with views of adjacent pine forests, reflecting the tranquility associated with nature.
One of our standout competitive advantages is the personalized service we offer to our guests. Given our size, we can understand our guests better and serve them on a more personal level. This creates a warm, welcoming atmosphere and encourages returning visits.
Currently, Whispering Pines B&B is in full operational status with plans to expand our room offerings in the future to cater to a larger customer base. Our future plans also include the introduction of wellness packages that incorporate nature walks, yoga sessions, and spa services.
While the business does not hold any patents, trademarks, or copyrights, we are in the process of registering our brand logo and tagline. This gives us a distinctive identity and adds a layer of protection against any potential infringement.
The production process in our context revolves around delivering a comfortable stay with attentive services. This begins with the booking process, which is simplified for the convenience of our guests. Upon arrival, the guests are welcomed and checked into their chosen room, followed by a small orientation of the property.
The next morning, our guests are treated to a hearty homemade breakfast, which is included in their stay. This breakfast is crafted with locally sourced ingredients to ensure freshness and promote local businesses. Throughout the stay, our staff is available 24/7 to cater to any needs or queries of our guests. Upon check-out, guests are requested to provide their feedback, which helps us to improve our services further.
Our suppliers are key partners who contribute significantly to our operation. We rely on local suppliers for furnishing our rooms, maintaining our property, and providing ingredients for the breakfasts. We believe in supporting the local economy and maintaining a symbiotic relationship with our suppliers.
In conclusion, Whispering Pines B&B offers a unique lodging experience that is high on comfort and personalized service. Our competitive edge lies in our unique selling proposition and the quality assured by our suppliers. While we are in full operation, our vision drives us towards continual expansion and development. We look forward to welcoming more guests and sharing our tranquil haven with those seeking an escape from the hustle and bustle of urban life.
Our marketing strategy at Whispering Pines B&B encompasses a broad reach across different media to target our key demographic: couples, vacationers, travelers, and nature enthusiasts aged 25-60. Our approach will include online marketing via our website and social media platforms to ensure a broad digital reach. Furthermore, partnerships with online travel agencies will increase our visibility in relevant search results and travel bookings.
Regarding sales, our tactics include the direct sales approach on our website and indirect sales via online travel agencies. Furthermore, a sales team will engage with local tourism associations to ensure a better local market presence. Sales activities will include representation at tourism trade shows, local events, and business collaborations to increase brand visibility and drive reservations.
The pricing strategy will have a two-tiered approach. The off-peak season will offer a lower price point to attract budget-conscious travelers, while the peak season will be set at a higher price to capitalize on the increased demand. Moreover, we'll also offer special packages for extended stays and cooperate with local tourism businesses to provide all-inclusive travel experience packages.
Our distribution channels are both online and offline. The primary online distribution channels include our website, online travel agencies, and social media platforms. Offline distribution comprises of collaborations with local tourism associations, travel agents, and events.
The advertising plan is to promote Whispering Pines B&B across various platforms. This includes running PPC (Pay Per Click) advertising campaigns on search engines and social media platforms. In addition, creating engaging content for our website and social platforms to showcase our property and the unique experiences we offer. Traditional channels like local print media and radio will target local clients and enhance our brand awareness within the community.
Our promotion strategy will be seasonally adjusted, offering special discounts during off-peak season and for extended stays. Gift vouchers, loyalty programs, and referral incentives will be implemented to encourage repeat visits and customer referrals.
Our customer service policy will be based on the principle of exceeding guest expectations at every point of their stay with us. This includes a relaxed check-in/check-out process, providing accurate local information, assistance for local travel, and addressing guest concerns promptly. We also commit to maintaining a clean, safe, and welcoming environment for all our guests.
In conclusion, our marketing and sales strategy aims to maximize reach, visibility, and conversion, thus promoting growth and profitability for Whispering Pines B&B. Our comprehensive approach will ensure a consistent customer experience from booking to departure and encourage repeat visits and recommendations.
At Whispering Pines B&B, we're committed to providing seamless, quality services to our valued guests. Key to this goal is a efficient operational workflow, effective service delivery, stringent quality control measures, and astute inventory and supply chain management.
Daily operations begin as early as 6 a.m., when our kitchen starts preparing a diverse, gourmet breakfast selection, available to guests until 10 a.m. Housekeeping services begin at 11 a.m., ensuring a pristine and welcoming environment ready for new arrivals. Check-outs are concluded by noon, while the check-in desk opens at 3 p.m., with the front desk operational 24/7 for any guest needs.
Our service delivery process follows a systematic and guest-oriented approach. With the guest's comfort as our utmost priority, we pay great attention to detail in room preparation, meal preparation, and provision of all promised services and amenities. Our staff communicates closely with guests to cater to any specific requests or preferences.
Quality control is vital to our operations. We maintain stringent standards, from the cleanliness of our rooms to the selection of ingredients for our breakfast services. Regular inspections are conducted and staff training is routinely updated to maintain our high standards.
Inventory management for our business comprises managing meal supplies, housekeeping supplies, and general maintenance provisions. Our system is designed to ensure that stock is always sufficient and replenished timely, minimizing the chance of any service disruption. We maintain strong relationships with local suppliers for fast and reliable access to fresh, high-quality produce.
For larger scale needs, such as renovations or new construction, we work closely with trusted contractors and tradespeople and carefully scrutinize the supply chain to ensure timely delivery of cost-effective and quality materials.
Our facilities and equipment needs vary from basic hospitality equipment such as beds, linen, cutlery, and kitchen appliances, to maintenance tools and gardening equipment for our picturesque grounds. We ensure all our facilities and equipment are routinely checked for safety and functionality, and replaced or repaired as necessary.
From operations to supply chain management, every facet of our business is designed to meet and exceed our guests' expectations. We are consistently investing in our staff, facilities, and processes to provide a standout experience while optimizing resources. Our commitment to operational efficiency, coupled with the charm of our serene accommodation, is designed to make Whispering Pines B&B the ultimate getaway site.
In the coming years, we anticipate a steady progression in terms of revenues and profitability. Year one revenue is expected to be $75,000, followed by $100,000 in year two. We anticipate further acceleration in year three, with revenues increasing to $125,000. By year four, we project revenues of $150,000, and by year five, we expect to generate $175,000 in annual revenue.
Our profit and loss projection is based on these revenue figures, paired with the costs of the business' ongoing operations and overheads. Operating costs include daily operational expenses such as salaries of staff, utilities, and maintenance. Overhead costs cover advertising and marketing expenses, insurance, and any interest payments on loans.
Furthermore, we anticipate positive cash flow starting from year two, as revenue increases and our presence in the market solidifies. Our balance sheet projection includes capital expenditure on property, equipment and fixtures, and accumulated depreciation over the years.
The break-even analysis reveals that our break-even point should be reached towards the end of the first year. This is based on the calculation of our fixed costs, variable costs, and expected revenues within this period. Beyond this point, all revenues contribute to profit, marking our shift from initial investment recovery to profitability.
The financial projection makes several key financial assumptions. These pertain to the stable state of the economy, an uninterrupted flow of operations, steady growth in demand, maintenance of current levels of competition, and absence of unforeseen adverse circumstances.
In conclusion, our financial projection highlights promising profitability and growth prospects for Whispering Pines B&B. We view these projections as not merely numbers, but as driving factors that guide us towards achieving our business goals and future success.
A comprehensive risk analysis has identified several potential risks. Those include market, operational, and financial risks, which we have undertake stringent measures to mitigate.
Market risks include changes in customer preferences, increased competition, and tourism fluctuation. Our risk mitigation strategies for these challenges include constant market research, responsive business practices to adapt to changes, aggressive and targeted marketing strategies, and the offering of unique packages that differentiate our service from competitors.
Operational risks include food waste due to perishable inventory, potential property damages by guests, and unforeseen maintenance issues. To counter these risks, we will implement strict inventory management techniques and waste reduction strategies. Guest rules and policies alongside property and liability insurance will be put in place to cover potential damages. An emergency fund will be allocated for unexpected maintenance issues, and we will establish a strong relationship with local suppliers and service providers to handle emergency maintenance tasks.
Financial risks include low occupancy rates, fluctuation in market prices of food and other supply goods, and unexpected increases in operational costs, among others. We will mitigate these through the diversification of income streams by offering additional services such as event spaces, and by maintaining a consistent and aggressive marketing strategy to ensure a steady flow of reservations. Supply contracts will be negotiated for favourable terms to cushion against price fluctuations, and a contingency budget will be maintained to cover unexpected cost increases.
We have considered legal factors, making sure we operate our business while adhering to local, state, and federal laws. Areas such as adhering to health regulations, guest safety and compliance, regulatory and zoning requirements, employment laws, and tax laws have been reviewed and met in our operational plans. We work closely with a legal advisor to ensure our continued compliance with any introduction of new rules or policies.
Insurance policies, designed to cover potential risks have also been put in place, which consist of property insurance, general business liability insurance, business interruption insurance, and workers' compensation insurance. They ensure coverage of potential damages to property, liability against guest claims, revenue loss due to unexpected business interruptions, and employee injury compensations.
Our contingency plans cover most unforeseen circumstances, and include detailed steps on managing emergencies, allocating responsibilities, preserving vital business operations, and prompt communication protocols.
By analyzing potential risks and having corresponding plans in place, we are confidently prepared to handle challenges that may come our way, thereby reinforcing the sound nature of our business plan and operational strategy.
If you are a people person who enjoys cooking and cleaning and is fond of historic and elegant houses, a bed and breakfast business would be perfect for you.
A bed and breakfast business not only allows you to work for yourself, but also to challenge your creative side. You get to pick the decor, the food menu, the serving style, and everything that’ll make you stand apart from the others.
The bed and breakfast industry stood at a market value of 1.65 bn dollars at the beginning of 2021 and is picking up pace after being hit by the COVID-19 pandemic. Hence, with a lesser number of competitors now is the right time to enter the industry.
However, to know what you are getting yourself into, you need a well-written business plan. Also, planning your business well in its initial stages saves you from a lot of troubles later on.
Read on to find out how a business plan can help you and how to write one.
Say goodbye to boring templates
Build your business plan faster and easier with AI
Plans starting from $7/month
Writing a business plan before starting a bed and breakfast business can help you in managing your finances and budget better. It’ll also help you understand what your targeted client base expects out of you, it would also help you select the right location, formulate a good marketing strategy, and cater to the needs and demands of your customers better.
It can also help you steer clear of roadblocks and avoid hiccups in your business journey.
Moreover, it can make navigating through your daily business activities and your business milestones easier.
Though writing a business plan might seem intimidating at first, it doesn’t have to be. You can easily write a well-rounded business plan through a premade template or through a business plan software that’ll help you in every step of writing your business plan.
Apart from that, a good business plan focuses on every facet of your business and has clear and flexible goals and strategies. In the following section, we’ll discuss all the things you can include in your business plan to make it a good one.
This is the standard bed and breakfast business plan outline which will cover all important sections that you should include in your business plan.
Several sections can make your business plan a well-rounded one. The major ones are as follows:
This document forms the first section of your business plan. It is useful while explaining your business ideas to your investors and can get you funded if written properly.
The executive summary section consists of the following sub-segments:
The customer analysis section helps you in knowing your target market better. It not only provides you with a detailed description of your customer base but also helps you in formulating marketing strategies surrounding them.
It can be broken down into the following subsections:
In this section, include a detailed analysis of your competitors, ranging from who they are to what they are doing and how your business stands apart from theirs.
Include the following subsegments in this segment:
For your business to succeed, people need to know it exists. Hence, a marketing plan is a crucial part of your business. It would consist of a market analysis followed by an advertising strategy.
This section is crucial especially for a B&B as it helps you plan your daily activities from how you would manage your customers to business milestones like expanding your services, growing to a certain size, etc.
Having a good financial plan can help your business stay afloat during difficult times and earn maximum profits when the market condition is good. It can be broken down into the following segments:
Need help writing your business plan from scratch? Here you go; download our free bed and breakfast business plan pdf to start.
It’s a modern business plan template specifically designed for your bed and breakfast business. Use the example business plan as a guide for writing your own.
The Quickest Way to turn a Business Idea into a Business Plan
Fill-in-the-blanks and automatic financials make it easy.
In conclusion, with the right amount of planning and thorough execution, a bed and breakfast business can be extremely profitable.
After getting started with Upmetrics , you can copy this bed and breakfast business plan example into your business plan and modify the required information and download your bed and breakfast business plan pdf or doc file.
It’s the fastest and easiest way to start writing your business plan.
About the Author
Upmetrics Team
Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more
No Risk – Cancel at Any Time – 15 Day Money Back Guarantee
Streamline your business planning process with Upmetrics .
Putting up a bed and breakfast is the ideal business for those who want to venture into the hospitality industry, but wanting to keep it on a small scale. Also known as a B & B, this business has been around for generations to provide visitors with comfortable lodging, memorable meal, and different experience than staying at a chain hotel.
Like all other businesses, you need to have a business plan when it comes to starting your own bed and breakfast. This shouldn’t be written just for formality. This document will serve as a roadmap giving you a clear direction where your business is heading. It is also a helpful plan when you’re looking for investors for your bed and breakfast. Though there are successful businesses that got started without writing a business plan, it’s better to err on the safe side and improve your chances of profitability by going through this process.
So how do you make a bed and breakfast business plan? This guide will help you in getting started as well as provide you with a downloadable bed and breakfast business plan template and a sample PDF of what a finished plan looks like.
Bed and breakfasts offer a unique lodging experience for guests.
All business plans start with an executive summary. This is a brief description of what your bed and breakfast is all about so that when one reads it, they’ll be able to get a gist of the whole business. Different sections such as an introduction, a company description, the services you offer, and your target customers are all placed here.
Do note that every section doesn’t have to be lengthy. Just a paragraph per section should suffice provided that it gives one enough information to know what your B & B is.
It is best to start your B & B business plan with a simple introduction. Include the place where your business is located and the amenities you provide. You may also include other important details that set your B & B apart from others. Will it be a themed bed and breakfast? How many rooms will it include? Remember to keep this section brief. You’ll be providing the details in the later part of your business plan.
Here’s a sample of a brief introduction:
Happy Mornings is a 6-bedroom bed and breakfast located at Saint Augustine, Florida overlooking Matanzas Bay. The house is a modern-style home with simple basic amenities including Wi-Fi and cable. We provide comfortable and clean beds along with a variety of delicious breakfast choices. Happy Mornings is also located near tourist spots in St. Augustine that is convenient for travelers.
Keep it short and easy to understand but as you can see, you’ve already given away what your business is all about without providing too much for now.
Good morning!
Now that you’ve gone past the introductions, you can put in more details regarding the bed and breakfast’s background. For instance, you can include who runs Happy Mornings and the job description they hold. Most bed and breakfast businesses are run by couples who live on the premises while some are run by a single owner. Don’t forget to state the roles of the owners briefly for the reader to discern what the operations look like.
Bed and breakfast businesses are expected to cater to two things which are simply comfortable rooms and breakfast. But through the years, B & Bs have also provided other services to their guests which include basic tour packages and massage packages. Your B & B doesn’t necessarily have to provide this in-house. You can just partner up with a travel agency and a spa to offer special rates for the guests who booked a stay with you.
If your bed and breakfast has a large garden out back, you can also provide the space up for rentals such as for wedding receptions and birthdays.
Mention all the services you plan to provide but keep this section brief as well. You’ll have the chance to explain all this in detail in the Product Line and Services section provided for it in the business plan.
Customer Focus
Did you know that not all bed and breakfast establishments are for everyone? B & Bs mostly cater to honeymooners, couples, and solo travelers. A detailed demographic can be provided at the Market Analysis portion of your business plan but briefly stating your target market in a bullet form list should give the reader an idea of how intimate and cozy you’d like your bed and breakfast to be.
For instance, we stated that Happy Mornings is located in Florida. Though this state is known for its theme parks, the bed and breakfast is specifically located in St. Augustine which is well-known for its historical sites and old town sceneries ideal for couples rather than big families with kids of young ages.
What’s your B&B mission statement?
Mission statements work as a vision for your business. Think of it as the core foundation of your bed and breakfast. This helps steer you in the right direction when it comes to making work decisions for your inn.
Let your mission statement answer the following questions:
By having a mission statement on the ready, not only will you as the owner be able to know what your business is aiming for but will also allow your future investors and even your staffs know the standards you are upholding.
You may now get a little deeper in describing what your bed and breakfast is all about in this section of your business plan. If there were details you wanted to write down in your Executive Summary but couldn’t expound further, now is the chance.
Let us take Happy Mornings, for example. We have mentioned earlier that Happy Mornings is overlooking Matanzas Bay so this inn would have a beautiful view of a pier with boats docked along the front. Here you can describe why your bed and breakfast is different than the others because of the view, the fresh breeze, and the easy access to boat rentals. Have fun with this section as much as possible by bringing everything your bed and breakfast has to offer.
Here are additional points you can cover in this section:
A cute bed and breakfast in Vermont.
The Market Analysis section of a business plan may get into the technicalities of your bed and breakfast but this is for a good purpose. Here, you’ll be able to tackle your target market, analyze the bed and breakfast industry in your area, and check out the competition. This will all help you plan out better for your business, see the weak spots early on, and what other things you can do to improve.
Target Market
We mentioned your customer focus briefly back in our Executive Summary. This time, you can write it down here in detail.
According to this article , there are four types of guests that book their stays with B & Bs:
Remember to take into consideration the concept of your bed and breakfast. If you’re into giving a more intimate feel for your inn, then it’s best to mainly focus on leisure travelers, business travelers, and solo travelers.
Industry Analysis
Before putting up your business, you must study the trend for bed and breakfasts and hostel accommodations in your area. Is there a growth in the industry over recent years? If so, where is this growth coming from? This could also help with your target market so you’ll know the age group you should be focusing on when you’re marketing your business.
Competitive Analysis
Let’s be real here. Bed and breakfasts have been around for so long that the competition has been tough. Aside from hotels, Airbnb is one of your main competitors. Not only are they the next affordable thing to the usual bed and breakfasts but their reach is quite large due to their brand name.
But that doesn’t mean the classic bed and breakfasts are going downhill. If studied, managed, and marketed well, your business will also be a success. For instance, Airbnbs focus on renting out their spaces wherein the hosts don’t even meet the guests, while bed and breakfasts allow hosts to interact with the guests and can even arrange for social night hours so guests can mingle with one another.
Offering a unique experience is part of the appeal of B&B’s.
Writing down a clear and detailed Management Structure helps in running your bed and breakfast smoothly. This section will include who is running the business and the employees you plan to have. Include the stakeholders as well and everyone else who has roles in running your bed and breakfast even though the tasks that are required of them is not done daily.
This section is important because it defines the duties each person will be performing. This eliminates misunderstandings and hard feelings in the future. This will also serve as a job description guide when you’re hiring for employees.
You can divide this section into two subcategories:
We mentioned earlier that a bed and breakfast is expected to cater to accommodations and breakfast meals. In this section, indicate specifically the rooms you are offering up. How many square meters is the space? How many rooms will have single beds, double beds, or queen-sized beds? Are the bathrooms shared? How much is the room per night on regular, off, and peak seasons? Present this in a tabular form so it’s easier to read and go through the data.
You also need to include the type of breakfast you’re serving. Will it be buffet style or will you provide a set menu? What are the options, continental or American breakfast? Will you be serving snacks in the afternoons and cocktails at night? Be as specific as possible because chances are your guests are going to want to know all of these before choosing your B & B. You’ll also need these details for marketing.
Remember to also indicate in detail what you’re offering up other than accommodations and food. Can you recall the tour package and massage package we mentioned? You can include that and many others you have planned for your business.
Timeless Victorian homes are ideal for converting into a B&B.
How can you get your bed and breakfast out there for everyone to see? When it comes to bed and breakfasts, getting your business a website first usually helps. This is where guests can come to check out all the details they need to know. Be sure to include directions on how to get to your location, photos of every room along with its amenities, the services you offer, a booking and reservation page, and contact details for when the guests would like to ask for more information.
It’s also best if you apply your bed and breakfast for a listing on online lodging reservation sites like Airbnb. These sites are where travelers usually go to first since it’s easier to compare prices and locations. But take note that this means you’ll also be competing with several other bed and breakfast places. This is why your concept, location, and room rates are of utmost importance.
You’ll also have to keep up with the times and start marketing your business on all social media platforms but also remember that even ads on newspapers and radio stations still get much coverage so include them in your marketing plans as well.
This is the part of the business plan that’s going to include a lot of numbers that are going to hit you in the gut. But don’t worry because this section is what you need in order to push through with your business. Knowing your financial plan will make things easier for you during the beginning stage of putting up your bed and breakfast and will also be helpful for you to compute costs and expenses in the long run.
Funding Request
In this section, discuss how you’re going to acquire the funds to start your business. There is a lot of work to be done when it comes to running a bed and breakfast. For instance, will you be renovating your old home or will you be buying an old house and fix it up? Having fewer rooms will get you to spend less in renovating them but there’s also following the local laws that require you to update some fixtures.
An article from Entrepreneur states that the estimated renovation costs for a guest room in a large property can reach $35,000 to $50,000 while rooms in smaller properties range from $20,000 to $40,000. So where are you going to get all that capital?
Loaning from the bank is one option. So be sure to list down everything you could be spending on. That includes fixing the lights, renovating floorboards, and the roof for any leaks. Include the new mattresses and bed frames you’re going to purchase and the silverware and plates for your dining area. Remember, the bank will want to see your financial plan before they approve you for a loan.
Other options for funding may come from retirement savings and investments from your partners.
Financial Forecast
It is extremely helpful to have a financial forecast for your business. Analyze your break-even point for your bed and breakfast to know your monthly target so you’re aware if your business is getting enough profit or is suffering from any loss.
Take the time to build an operation plan to provide a consistent customer experience.
This part of the business plan is simply to put down the timeline of how your bed and breakfast is going to come about. Here’s an example:
[Insert Date Here] | Wrap up all requirements to finalize the processing of land rights. |
[Insert Date Here] | Construction and designing of bed and breakfast. |
[Insert Date Here] | Hiring of staff and training them. |
[Insert Date Here] | Start operations for bed and breakfast. |
[Insert Date Here] | Reach break-even. |
This doesn’t have to be very complex. This timeline of your operational plan will keep you moving to reach your goals which are to eventually reach break-even.
This is the place to put all your documentation such as legal documents, permits, payroll plans, logo designs and photos of your bed and breakfast.
Remember that business plans are a way to help you forecast how your bed and breakfast is going to look like. It’s going to tell you whether or not you can push through with the business and how much you’ll be able to profit from it.
Some people feel a little disheartened when they find out that after doing a business plan, they’ll see some failing results. But what they don’t realize is that the business plan already saved them from investing in something that wasn’t going to work in the first place or give them a chance to spot some variables that they need to work on.
So are you ready to write your business plan? Download our bed and breakfast business plan template and this sample PDF to get started.
Hey! 👋I’m Brett Lindenberg, the founder of Food Truck Empire.
We interview successful founders and share the stories behind their food trucks, restaurants, food and beverage brands. By sharing these stories, I want to help others get started.
If you liked this story, sign up for our newsletter that includes our food business startup kit and most popular interviews sent straight to your inbox.
Know someone interesting that should be interviewed on the website? Tell us about them here.
Thinking of transforming your charming space into a thriving bed and breakfast? Running a B&B can be an incredibly rewarding experience, allowing you to connect with guests from all around the world while sharing your local expertise. However, it’s also a serious business endeavour that requires careful planning and preparation.
Whether you're a seasoned hospitality pro or a complete newcomer, a well-structured bed and breakfast business plan is your key to success. At Touch Stay, we know the importance of guest experience, and that starts with a solid foundation for your B&B. This comprehensive guide equips you with everything you need to write a winning B&B business plan and turn your dream into reality.
We'll also provide a free downloadable template and a detailed bed and breakfast business plan checklist to help you get started. But first, let's explore why a B&B business plan is crucial…
Why a b&b business plan matters: a breakdown.
Beyond securing funding, a B&B business plan offers a roadmap for growth and long-term success. Here's how:
1. Clarity and focus: writing your plan forces you to really define your B&B. This means getting clear on:
By getting clear on these aspects from the start, you can ensure your B&B is heading in the right direction.
2. Funding: if you need financial backing to get your bed and breakfast off the ground, a well-written B&B business plan is essential. It acts as a persuasive document for lenders and investors by:
This can make a big difference in securing the funding you need.
3. Roadmap for growth: your B&B business plan isn't a static document. It's a living roadmap that should evolve with your B&B. Here's how it helps:
By keeping your plan updated and referring to it regularly, you can ensure your B&B stays on track for long-term success.
Your bed and breakfast business plan is like a blueprint for success. It outlines your vision, defines your strategies, and demonstrates the financial viability of your dream. Here's a detailed breakdown of the key sections you should include:
This is your elevator pitch for your B&B. It should be a concise (typically 1-2 pages) overview that grabs the reader's attention and summarises the key points of your entire plan.
Dive deeper into the heart and soul of your B&B.
Understanding your market landscape is crucial for success. Here's what to include:
Now it's time to map out your strategies to attract your ideal guests.
Showcase the expertise behind your B&B. Briefly introduce yourself and any key team members, highlighting:
This section outlines the day-to-day operations of your B&B, ensuring a smooth and seamless guest experience.
Touch Stay provides digital guidebooks designed specifically for B&Bs. Check out how The Maitland Manor Bed & Breakfast and Silverbow Inn use theirs to share essential info and local recommendations to ensure their guests have the best stay possible.
Demonstrate the financial viability of your B&B here. It should be realistic and backed up by research.
Ready to dive in? We've created a downloadable bed and breakfast business plan template along with a comprehensive B&B checklist to ensure you don't miss a single detail. These resources will guide you through each section of the plan.
Enter your details to receive your free bed and breakfast business plan template and checklist.
Starting your own bed and breakfast requires passion, planning, and this vital business plan document. By clearly defining your B&B’s value proposition, operations, finances, and more, you’ll be setting yourself up for startup success and delighted guests for years to come.
At Touch Stay, we believe in empowering B&B hosts to create exceptional guest experiences. Our digital guidebooks for B&Bs provide guests with all the information they need at their fingertips. This frees you up to focus on what you do best – offering warm hospitality and creating a memorable stay.
Start a free 14-day trial with Touch Stay and create your B&B guidebook today
Used 4,872 times
Use a complete bed and breakfast business plan template to set up your business for growth and success.
e-Sign with PandaDoc
Created by:
[Sender.FirstName] [Sender.LastName]
[Sender.Company]
Prepared for:
[Recipient.FirstName] [Recipient.LastName]
[Recipient.Company]
[Sender.Company] , located at [Sender.StreetAddress] [Sender.City] [Sender.State] [Sender.PostalCode] , is a new, small B&B focused on providing rooms with a clean and modern character that is attractive to leisure visitors to the area.
The Company’s rooms will feature modern furniture, high-end technology, and modern accessories. What makes [Sender.Company] unique is (Add your USP).
[Sender.Company] will offer all of the standard B&B services, including daily room cleaning, free local calls, cable TV, a free wireless network, and various other amenities. The B&B will also include a restaurant lounge serving breakfast, lunch, and dinner, as well as Afternoon Tea and Cocktails.
[Sender.Company] will primarily serve leisure travelers who seek comfort, necessary amenities, and simplicity of services. In general, the market for the B&B segment tends to be relatively affluent and well-educated.
(Enter notable statistics of the industry in your area).
Since incorporation, the company has achieved the following milestones:
Found site location and signed the land deed purchasing rights to the land.
Developed the company’s name, logo, and website located at (Enter website address).
Hired an architecture firm to create a blueprint of the B&B.
Determined equipment leasing and financing requirements.
Began recruiting key employees with experience in the B&B industry.
[Sender.Company] will develop a 20,000-square-foot bed and breakfast with key elements that will include the following:
Upper and Lower Floors with 18 single rooms
2 Studio Apartment Rooms
[Sender.Company] plans to be open seven (7) days a week, 24 hours a day, to take care of all guests’ inquiries and issues as they may arise. As demand dictates, we may extend or reduce our services and hours.
Through our business activities, [Sender.Company] hopes to achieve the following goals to achieve success with our bed and breakfast:
(List goal)
The following are a series of steps that lead to our vision of long-term success goals mentioned in the section above.
Step 1: (List step)
Step 2: (List step)
Step 3: (List step)
[Sender.Company] expects to achieve the below milestones in the following (Enter number) months:
Date | Milestone |
---|---|
(MM/DD/YY) | (Milestone 1) |
(MM/DD/YY) | (Milestone 2) |
(MM/DD/YY) | (Milestone 3) |
[Sender.Company] will serve the leisure travel market of (Enter location) and its immediate surrounding area.
The market we serve is value-conscious and has a desire for high comfort and basic amenities geared towards family and comfort travel.
(Add other relevant statistics related to your unique audience).
The demographic profile of the target market can be seen below:
| (Enter location) | (Enter location) |
---|---|---|
Total population: | | |
Area size: | | |
Population density: | | |
Males: | | |
Females: | | |
Based on age group | ||
18-24 | | |
25-34 | | |
35-44 | | |
45-54 | | |
Target population based on income | | |
Income $50,000 to $74,999 | | |
Income $75,000 to $99,999 | | |
Income $100,000 to $124,999 | | |
Income $125,000 to $149,999 | | |
We will primarily target the following market segments:
(List the market segments your bed and breakfast will target.)
[Sender.Company] directly or indirectly competes with all B&Bs within the local area. Competition will come from inns, motels, and hotels. However, recent statistics shows that the biggest competitor to mid-level bed and breakfasts are midscale and upscale hotels.
The strengths that will set [Sender.Company] apart from competitors include:
(List strengths)
Below is [Sender.Company] ’s initial service offerings and amenities provided.
Studio Apartment-style VIP Rooms for long-term stays
Two double beds or one queen bed
Modern bathroom
Daily cleaning
(Add facilities)
Sitting room area with workspace, couch, and TV.
California king bed
1 Luxury bathroom with jacuzzi and shower
Breakfast, lunch and dinner offerings
Afternoon tea
The [Sender.Company] brand will focus on the Company’s unique value proposition, which is:
Offering rooms suited for families and business travelers and services
Offering a central location in the downtown area
Providing excellent customer service
[Sender.Company] expects its target market of leisure travelers to be mainly from the US and surrounding locations in the (Enter location). The Company’s promotions strategy to reach these individuals includes:
Public relations, advertising, social media, ongoing customer communications, pre-opening events, operations plan.
In order to execute on [Sender.Company] ’s business model, the Company needs to perform many functions, including the following:
General and administrative functions, including legal, marketing, bookkeeping, etc.
Sourcing and storing supplies for the B&B and conference space
Hiring and training staff
Corporate sales to individuals and groups
Housekeeping to keep the rooms and communal areas clean at all times
Check-in focused on customer service
Janitor/maintenance personnel to keep the B&B equipment and appliances in working order
[Sender.Company] is led by [Sender.FirstName] [Sender.LastName] who has been in the B&B industry for (Enter number of year) years. As such [Sender.FirstName] [Sender.LastName] has an in-depth knowledge of the B&B business, including the operations side (e.g., running day-to-day operations) and the business management side (e.g., staffing, marketing, etc.).
[Sender.FirstName] [Sender.LastName] will serve as the B&B CEO. In order to launch our bed and breakfast, we need to hire the following personnel:
Housekeeping staff (five to start)
Bed and breakfast Manager (will manage day-to-day operations of the B&B)
Assistant Manager (will manage bed and breakfast operations nights and weekends)
Service Staff (four full-time to work check-in and guest services – allowing for at least one staff person to be on duty at all times)
Annual income / profit/loss statement.
Income Statement / Profit/Loss Statement | |||||
---|---|---|---|---|---|
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
Total revenue: | | | | | |
Cost of services sold: | | | | | |
Gross profit: | | | | | |
Operating income: Interest expense | | | | | |
Pretax income: Taxes: | | | | | |
Net income: | | | | | |
Cash Flow Statement | |||
---|---|---|---|
| Jan ‘23 | Feb ‘23 | Mar ‘23 |
Starting cash balance: | | | |
Cash received: Cash from operations: Cash from sales: | | | |
Subtotal cash received: | | | |
Additional cash received: (List sources) | | | |
Subtotal additional cash received: | | | |
Total cash received: | | | |
Expenditures: (List all expenditures) | | | |
Total cash spent: | | | |
| | | |
Net cash flow: | | | |
Ending cash balance: | | | |
Assets and Liabilities | |||||
---|---|---|---|---|---|
Current Assets: | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
Cash | | | | | |
Accounts receivable | | | | | |
Inventory | | | | | |
Prepaid expenses | | | | | |
| | | | | |
Fixed Assets: | | | | | |
(List all) | | | | | |
| | | | | |
| | | | | |
Total Assets: | | | | | |
| | | | | |
Liabilities | | | | | |
(List all) | | | | | |
| | | | | |
| | | | | |
Total Liabilities: | | | | | |
The confidential information and trade secrets described above shall remain the exclusive property of the Company. They shall not be shared or removed from the Company’s premises under any circumstances whatsoever without the express prior written consent of the coaching business.
Please find listed below any additional addendums related to [Sender.Company] :
(Add any relevant addendums)
[Recipient.FirstName] [Recipient.LastName]
Care to rate this template?
Your rating will help others.
Thanks for your rate!
25 october 2023.
Share this article on Social Networks:
Table of contents.
Indice dei contenuti, bed and breakfast business plan: what is it.
A business plan for a Bed and Breakfast is a formal document detailing how you intend to manage your Bed and Breakfast. It not only helps define the goals of your Bed and Breakfast, but also serves as a reference document for future investors or banks if you need funding.
At the end of this article, you’ll find a free Bed and Breakfast business plan pdf to download, which will provide a solid structure on which to build your plan!
A well-written Bed and Breakfast business plan should cover a range of key areas including market analysis, marketing strategy, financial planning, and much more. For example, if you wish to open a Bed and Breakfast from scratch, a solid Bed and Breakfast business plan can help identify the key challenges you may face and how you plan to overcome them, being a foundational step in starting a rental business.
1. executive summary.
You should include documents like house blueprints, service contracts, agreements with suppliers, permits and licenses, or any other documentation that supports your Bed and Breakfast business plan. These attachments will provide additional details and context to the readers of your plan, making it a comprehensive and informative document. This section is a crucial part of how to start a Bed and Breakfast by having all necessary documentation in place.
Octorate offers cutting-edge solutions to help you navigate the complex world of hospitality. From the Channel Manager , Booking Engine , PMS , and Self check-in , Octorate can transform the way you manage your establishment, freeing up more time for you and improving the experience of your guests. This plays a significant role when looking into how to run a Bed and Breakfast efficiently and delivering a memorable guest experience.
Book a Demo to see how Octorate can simplify the management of your Hotel, B&B, Vacation rental, Apartment or Hostel.
Purchase a subscription of at least a year and Octorate rewards you with 2 months of completely free usage!
Share with:
Subscribe to the octorate newsletter, related articles:.
by Alin Grigoras | Jul 1, 2024 | Vacation Rental , Hotel Division , Non categorizzato
Share this article on Social Networks:In the modern era, sustainable tourism is becoming a central theme for...
by Alin Grigoras | Feb 21, 2024 | Vacation Rental
Share this article on Social Networks:In the world of hospitality and tourism, every detail matters, and...
by Roberta Magro Malosso | Aug 31, 2023 | Non categorizzato , Hotel Division , Vacation Rental
Share this article on social networks:Travelling makes you feel alive and is one of the favourite moments in...
If you want to start a Bed and Breakfast business or expand your current Bed and Breakfast, you need a business plan.
The following Bed and Breakfast business plan template gives you the key elements to include in a winning B&B business plan.
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
Below are links to each of the key sections of an example Bed & Breakfast business plan. Once you create your plan, download it to PDF to show banks and investors.
I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan
Comments are closed.
Written by Dave Lavinsky
Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their bed and breakfast businesses.
If you’re unfamiliar with creating a bed and breakfast business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.
In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a bed and breakfast business plan step-by-step so you can create your plan today.
Download our Ultimate Business Plan Template here >
A business plan provides a snapshot of your bed and breakfast business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.
If you’re looking to start a bed and breakfast business or grow your existing bed and breakfast company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your bed and breakfast business to improve your chances of success. Your bed and breakfast business plan is a living document that should be updated annually as your company grows and changes.
With regards to funding, the main sources of funding for a bed and breakfast business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for bed and breakfast companies.
How to write a business plan for a bed and breakfast.
If you want to start a bed and breakfast business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your bed and breakfast business plan.
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your executive summary is to quickly engage the reader. Explain to them the kind of bed and breakfast business you are running and the status. For example, are you a startup, do you have a bed and breakfast business that you would like to grow, or are you operating a chain of bed and breakfast businesses?
Next, provide an overview of each of the subsequent sections of your plan.
In your company overview, you will detail the type of bed and breakfast business you are operating.
For example, you might specialize in one of the following types of bed and breakfast businesses:
In addition to explaining the type of bed and breakfast business you will operate, the company overview needs to provide background on the business.
Include answers to questions such as:
In your industry or market analysis, you need to provide an overview of the bed and breakfast industry.
While this may seem unnecessary, it serves multiple purposes.
First, researching the bed and breakfast industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.
The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your bed and breakfast business plan:
The customer analysis section of your bed and breakfast business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: individuals, schools, families, and corporations.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of bed and breakfast business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.
Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.
Don’t you wish there was a faster, easier way to finish your business plan?
With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!
Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other bed and breakfast businesses.
Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes other types of bed and breakfast establishments, hotels, hostels, and short-term rentals. You need to mention such competition as well.
For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a bed and breakfast business plan, your marketing strategy should include the following:
Product : In the product section, you should reiterate the type of bed and breakfast company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide a continental breakfast, a full service restaurant, or laundry service?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.
Place : Place refers to the site of your bed and breakfast company. Document where your company is situated and mention how the site will impact your success. For example, is your bed and breakfast business located close to a busy tourist attraction, near the beach, or in the mountains? Discuss how your site might be the ideal location for your customers.
Promotions : The final part of your bed and breakfast marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your bed and breakfast business, including answering calls, booking reservations, scheduling cleaning services, and billing customers, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth guest, or when you hope to reach $X in revenue. It could also be when you expect to expand your bed and breakfast business to a new location.
To demonstrate your bed and breakfast business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally, you and/or your team members have direct experience in managing bed and breakfast businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a bed and breakfast.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.
An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will your bed and breakfast have 4 rooms available to rent and will you charge $100 per room/night? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your bed and breakfast business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.
When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a bed and breakfast business:
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include photos of your bed and breakfast or testimonials from happy customers.
Writing a B&B business plan for your bed and breakfast business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert on opening a bed and breakfast. You will understand the bed and breakfast industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful bed and breakfast business.
Don’t you wish there was a faster, easier way to finish your Bed and Breakfast business plan?
Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.
Click here to hire someone to write a business plan for you from Growthink’s team.
Here is a free business plan sample for a bed and breakfast establishment.
Have you ever envisioned opening your own bed and breakfast, but feel overwhelmed about where to start? You've landed in the perfect spot.
Below, we will present to you a comprehensive sample business plan tailored for a bed and breakfast establishment.
As an aspiring entrepreneur, you're likely aware that a meticulously developed business plan is crucial for achieving success. It serves as a roadmap, outlining your vision, objectives, and the strategies you'll employ to turn your dream into a thriving reality.
To expedite the creation of a robust plan, you're invited to utilize our bed and breakfast business plan template. Additionally, our team of experts is on standby to provide a complimentary review and refinement of your plan.
A good business plan for a bed and breakfast (B&B) must cater to the unique aspects of the hospitality industry, particularly the niche market of B&B accommodations.
Initially, it's crucial to provide a comprehensive market overview. This should include current statistics and the identification of emerging trends in the hospitality sector, similar to what we've incorporated in our bed and breakfast business plan template .
Your business plan should articulate your vision clearly. Define your target market (such as couples looking for a romantic getaway, business travelers, or tourists), and establish the distinctive appeal of your B&B (historic charm, luxury amenities, proximity to attractions, etc.).
Market analysis is the next critical component. This requires an in-depth look at the competition in your area, understanding travel and accommodation trends, and recognizing the preferences of your potential guests.
For a B&B, it's important to highlight the unique experiences you offer. Describe the types of rooms, the ambiance, any special services (like guided tours or gourmet breakfasts), and how these cater to the expectations of your guests.
The operational plan should detail the location of your B&B, the layout of guest rooms and common areas, the procurement of supplies, and the day-to-day management of the establishment.
Emphasize the quality of the guest experience, including the comfort of accommodations, the personal touch in service, and adherence to health and safety standards.
Address your marketing and sales strategy comprehensively. How will you attract guests and encourage repeat visits? Consider promotional tactics, guest loyalty programs, and value-added services (such as event hosting or partnerships with local attractions).
Incorporating digital strategies, like maintaining a user-friendly website, online booking capabilities, and an active social media presence, is increasingly important for B&Bs.
The financial plan is another cornerstone. It should outline the initial investment, revenue projections, operating expenses, and the point at which the business will become profitable.
Given that B&Bs often operate with a limited number of rooms, it's vital to have a precise understanding of your financials. To assist with this, you might utilize our financial forecast for a bed and breakfast .
Compared to other business plans, a B&B plan must pay special attention to the guest experience, local tourism dynamics, and personal service, which are central to the business model.
A well-crafted business plan will not only help you to define your strategy and approach but also to attract investors or secure loans.
Lenders and investors are looking for thorough market research, realistic financial projections, and a clear plan for guest experience management in a B&B.
By presenting a detailed and substantiated plan, you showcase your dedication and readiness for the successful operation of your B&B.
To achieve these goals while saving time, you can complete our bed and breakfast business plan template .
Here, we will provide a concise and illustrative example of a business plan for a specific project.
This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.
To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.
All these elements have been thoroughly included by our experts in the business plan template they have designed for a bed and breakfast .
Here, we will follow the same structure as in our business plan template.
Market overview and statistics.
The bed and breakfast (B&B) industry is an integral part of the travel and hospitality sector, offering a unique lodging experience for travelers seeking a more personal touch.
As of recent data, the global B&B market has been valued at several billion dollars, with expectations for continued growth as travelers increasingly seek out authentic and localized experiences.
In the United States alone, there are over 17,000 B&Bs, contributing significantly to the economy and providing a charming alternative to traditional hotel accommodations.
These statistics underscore the B&B industry's relevance in the tourism landscape and its economic contribution to local communities.
The B&B sector is witnessing several evolving trends that cater to the changing preferences of modern travelers.
Eco-tourism is on the rise, with guests showing a preference for establishments that practice sustainability and environmental stewardship. B&Bs that offer organic meals, use renewable energy sources, and implement water-saving practices are becoming increasingly popular.
Technology integration is also a key trend, with guests expecting seamless Wi-Fi connectivity, online booking systems, and smart room features for a convenient stay.
Personalization and authentic experiences are highly sought after, with guests valuing customized itineraries, local cultural immersion, and unique in-house events.
Health and wellness amenities, such as on-site yoga classes, spa services, and nutritious breakfast options, are also becoming standard offerings at many B&Bs.
Lastly, the rise of social media marketing has allowed B&B owners to showcase their properties and connect with potential guests on a more personal level, enhancing their visibility and appeal.
These trends highlight the B&B industry's adaptability and commitment to providing memorable experiences that align with contemporary traveler expectations.
Several factors contribute to the success of a bed and breakfast establishment.
Location is paramount, as a B&B situated in a scenic or convenient area can attract more guests looking for a unique or accessible getaway.
Personalized guest service is crucial, with owners often playing a hands-on role in ensuring guests feel welcomed and valued during their stay.
The charm and character of the property, including its history, architecture, and decor, can significantly enhance the guest experience and set a B&B apart from competitors.
Quality of accommodations, including comfort, cleanliness, and amenities, is essential for guest satisfaction and repeat business.
Lastly, effective marketing strategies, including a strong online presence, engaging social media content, and positive guest reviews, are vital for attracting new customers and building a reputable brand.
By focusing on these key areas, B&B owners can create a thriving business that appeals to the modern traveler's desire for comfort, authenticity, and personalized service.
Project presentation.
Our bed and breakfast, named "The Cozy Retreat," is designed to provide a charming and intimate getaway for travelers seeking comfort, relaxation, and personalized service. Nestled in a scenic location, our establishment will offer a tranquil escape from the hustle and bustle of daily life. With a limited number of beautifully decorated rooms, each featuring unique themes and modern amenities, guests will enjoy a sense of exclusivity and privacy.
Our bed and breakfast will prioritize guest experience by offering gourmet breakfast options, cozy common areas, and additional services such as guided tours and wellness activities. We aim to create a home-away-from-home atmosphere where guests can unwind and create lasting memories.
"The Cozy Retreat" aspires to be recognized as a premier destination for travelers seeking a unique and personalized lodging experience, enhancing the attractiveness of the local area as a tourist destination.
The value proposition of "The Cozy Retreat" bed and breakfast is centered around providing an exceptional stay experience that combines the comfort of modern living with the charm of traditional hospitality. Our commitment to creating a warm and inviting atmosphere, along with attention to detail in our service, sets us apart.
We offer a peaceful setting, exceptional food, and the opportunity for guests to indulge in local culture and nature. Our bed and breakfast is not just a place to stay, but a destination that enriches the travel experience, fostering relaxation and rejuvenation.
By focusing on personalized service and creating a sense of community, "The Cozy Retreat" aims to become a beloved haven for travelers and a positive contributor to the local tourism industry.
The project owner is an individual with a passion for hospitality and a background in hotel management. With a keen eye for detail and a commitment to guest satisfaction, they bring a wealth of experience in creating welcoming and memorable lodging experiences.
Having traveled extensively and experienced various forms of accommodations, the owner understands the importance of a personal touch in making a stay special. They are dedicated to transforming "The Cozy Retreat" into a sanctuary for travelers, where comfort and care are at the forefront.
With a vision to integrate local culture and sustainable practices, the owner is determined to offer a bed and breakfast that not only serves as a peaceful retreat but also promotes the local community and environment.
Their dedication to excellence in hospitality and their love for connecting with people are the driving forces behind this project, aiming to elevate the standard of bed and breakfast accommodations.
Market segments.
The market segments for our bed and breakfast are diverse and cater to various guest profiles.
Firstly, we have tourists and travelers seeking comfortable, homely accommodation with a personal touch that differentiates from standard hotel experiences.
Next, there are business travelers who prefer a quiet, cozy place to stay that offers a home-away-from-home atmosphere.
Couples looking for a romantic getaway or individuals seeking a peaceful retreat also form a significant part of our market.
Lastly, we cater to local residents who may need temporary lodging for family or friends when their own homes cannot accommodate them.
Our bed and breakfast's SWOT analysis highlights several factors.
Strengths include our unique location, personalized guest services, and the charm of our well-maintained historic property.
Weaknesses might involve limited capacity compared to larger hotels and the seasonal nature of the tourism industry.
Opportunities can be found in targeting niche markets such as eco-tourism or wellness retreats, and leveraging local events and attractions to draw in guests.
Threats could stem from economic downturns affecting travel budgets and the rise of alternative lodging options like short-term home rentals.
Competitor analysis for our bed and breakfast shows a mix of local inns, hotels, and online home rental services.
Direct competitors include other bed and breakfasts and boutique hotels that offer a similar quaint and personalized lodging experience.
These competitors vie for guests who value unique accommodations and personal service.
Our competitive advantages may include our exceptional customer service, the historical significance of our property, and our commitment to sustainability and local partnerships.
Understanding the strengths and weaknesses of our competitors is crucial for carving out our niche and ensuring guest loyalty.
Our bed and breakfast's competitive advantages lie in the personalized experience we offer to each guest.
We provide a warm, inviting atmosphere with attention to detail in our service, from home-cooked breakfasts to customized activity recommendations.
Our historic property offers a unique charm and story that enriches the guest experience, setting us apart from generic lodging options.
We also focus on building relationships with local businesses and attractions to offer our guests exclusive experiences and perks.
You can also read our articles about: - how to establish a bed and breakfast establishment: a complete guide - the customer segments of a bed and breakfast establishment - the competition study for a bed and breakfast establishment
Development plan.
Our three-year development plan for the bed and breakfast is designed to create a cozy, memorable experience for our guests.
In the first year, we will concentrate on establishing a strong reputation for exceptional service and creating a unique, local experience for our guests.
The second year will focus on enhancing our online presence and marketing efforts to attract visitors from outside the local area, including international tourists.
By the third year, we plan to expand our accommodations and services, possibly adding themed rooms or packages and partnering with local tour operators to offer exclusive experiences.
Throughout this period, we will prioritize guest satisfaction, maintaining the charm and comfort of our bed and breakfast while adapting to the evolving expectations of our clientele.
The Business Model Canvas for our bed and breakfast targets travelers seeking a personalized and authentic lodging experience.
Our value proposition is centered on providing a home-away-from-home atmosphere with high-quality, personalized service and local charm.
We offer our services through direct bookings via our website, phone, and online travel agencies, utilizing our key resources such as our well-maintained property, dedicated staff, and local knowledge.
Key activities include guest services, property maintenance, and local experience curation.
Our revenue streams are derived from room bookings, additional services such as meals and event hosting, and partnerships with local businesses.
Find a complete and editable real Business Model Canvas in our business plan template .
Our marketing strategy is built on personalization and local experiences.
We aim to attract guests by showcasing the unique aspects of staying at our bed and breakfast, such as our homemade breakfasts, personalized service, and connections to local culture and activities.
Our approach includes targeted online advertising, collaborations with local businesses, and leveraging guest reviews and testimonials.
We will also engage with potential guests through social media, sharing stories and images that highlight the special qualities of our accommodations and the surrounding area.
Finally, we will offer special promotions and packages to encourage longer stays and repeat visits, ensuring that our guests always have a reason to return.
The risk policy for our bed and breakfast focuses on mitigating risks associated with guest satisfaction, property maintenance, and market fluctuations.
We commit to regular property inspections and upkeep to ensure a safe and inviting environment for our guests.
We closely monitor guest feedback to address any issues promptly and maintain high standards of service.
Our financial risk management includes maintaining a diversified income stream and a reserve fund for unexpected expenses.
Additionally, we carry comprehensive insurance to protect against property damage, liability, and business interruption. Our priority is to provide a secure and delightful experience for our guests while safeguarding the sustainability of our business.
We envision creating a bed and breakfast that stands out for its personalized service, local charm, and commitment to guest satisfaction.
With our focus on creating unique experiences and fostering a sense of community, we believe we can attract a loyal customer base.
We are excited about the opportunity to contribute to the local economy and offer travelers a comfortable and authentic place to stay.
We are adaptable and ready to evolve our business to meet the needs of our guests, and we look forward to the bright future of our bed and breakfast.
You can also read our articles about: - the Business Model Canvas of a bed and breakfast establishment - the marketing strategy for a bed and breakfast establishment
Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.
All these elements are available in our business plan template for a bed and breakfast and our financial plan for a bed and breakfast .
Initial expenses for our bed and breakfast include the acquisition or leasing of a suitable property, renovations to create a welcoming and comfortable guest environment, furnishing and decorating guest rooms and common areas, obtaining necessary permits and licenses, and investing in marketing strategies to attract our target clientele.
Our revenue assumptions are based on a thorough market analysis of the local tourism industry, taking into account factors such as seasonal demand, competition, and the unique appeal of our bed and breakfast's location and amenities.
We anticipate a steady increase in occupancy rates, starting conservatively and growing as our bed and breakfast becomes more established and receives positive reviews from guests.
The projected income statement outlines expected revenues from room bookings and any additional services offered, such as event hosting or dining options, against the costs of operations (housekeeping, maintenance, utilities), and other expenses (mortgage or rent, marketing, staff wages, etc.).
This results in a forecasted net profit that is essential for assessing the long-term viability of our bed and breakfast.
The projected balance sheet reflects assets specific to our business, such as the property itself, furniture, and fixtures, as well as liabilities including any loans taken out for startup costs and ongoing operational expenses.
It provides a snapshot of the financial standing of our bed and breakfast at the end of each fiscal period.
Our projected cash flow statement details the inflows from guest payments and outflows for expenses and investments, enabling us to predict our financial needs and ensure we maintain adequate cash reserves.
The projected financing plan identifies the sources of funding we intend to utilize to cover our initial costs, such as savings, loans, or investor contributions.
The working capital requirement for our bed and breakfast will be carefully managed to ensure we have the funds necessary to support day-to-day operations, including guest services, inventory replenishment, and staff salaries.
The break-even point for our venture is the occupancy rate or number of booked nights required to cover all our costs and begin generating a profit.
It will signal the point at which our bed and breakfast becomes financially sustainable.
Performance indicators we will monitor include the average daily rate (ADR), occupancy rate, revenue per available room (RevPAR), guest satisfaction scores, and the return on investment to gauge the efficiency of the capital we have invested in our bed and breakfast.
These metrics will assist us in evaluating the financial performance and overall success of our hospitality venture.
If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a bed and breakfast establishment .
By: Author Tony Martins Ajaero
Home » Business ideas » Hospitality, Travel & Tourism » Bread & Breakfast
Are you about starting a bed and breakfast business ? If YES, here is a complete sample bed and breakfast business plan template & feasibility report you can use for FREE .
If you have got the interest to invest in the hospitality industry but you lack the start – up capital to start your own hotel or motel, then you should consider starting a bed and breakfast business. Bed and Breakfast business is perhaps one of the easiest means of owning a business portfolio in the hospitality industry.
One of the good news is that it is a business that sure guarantees good returns on your investment. One thing is certain, it is easier to find several bed and breakfast businesses scattered in a neighborhood, which is why most bed and breakfast owners ensures that they put facilities in places that will not only guarantee the safety and relaxation for their guests, but also create an ambience that will give them room to socialize.
In recent times, you can easily find facilities such as wireless internet access, free parking, spa services or nightly wine and cheese hours in the average bed and breakfasts. This line of business is indeed a profitable business because you can operate the business with your family members, thereby cutting operational cost to the barest minimum.
So also, the fact that you are making use of your apartment means that you won’t be spending huge amount acquiring or renting a property to be used for the business except you just want to expand the business beyond the house you are currently living.
1. industry overview.
The hospitality industry has been in existence from time immemorial and it is still waxing strong simply because people can’t do away with the services they offer. When you talk about a bed and breakfast business, you are talking about a business that provides lodging for guest / travelers, tourist, visitors, and what have you, on a short-term basis with a fee.
When people lodge in a bed and breakfast accommodation setting, they have the options of subscribing to other services they offers; services like internet facility, drinks, laundry, fitness center, swimming pool, conference room and business room et al.
Simply put, a typical bed and breakfast is a small lodging accommodation that offers overnight accommodation and breakfast to guest that lodge there. Aside from breakfast, they usually does not offer other meals (whether dinner or launch). Normally, people that run bed and breakfasts make used of their private homes or their family homes. The average bed and breakfasts have 6 rooms, but generally, bed and breakfasts operate 4 to 11 rooms within a facility.
It is important to state that the bed and breakfast business is a niche segment of the Hospitality cum travel industry. As part of this industry, bed and breakfasts are categorized as a private residence that provides a room and a breakfast for travelers or guests.
Statistics has it that there are roughly seventeen thousand (17,000) registered beds and breakfast business in the United States and they can be found in all states, in major cities and remote rural areas in the U.S. There is no defined structure for Bed and Breakfasts, they are known to occupy everything ranging from modest cottages to luxurious mansions, and in restored structures from schools to wagons to churches.
The result from a survey and research conducted reveals that the average number of rooms for a bed and breakfast is 8.5, up from 8 rooms in 2000, 95 percent of respondents offer rooms with private baths, 93 – 94 percent of inns or bed and breakfasts are non-smoking, Responding inns employ 4.6 people, 42 percent of bed and breakfasts have meeting rooms
So also it was revealed that most bed and breakfasts are operated by a family and hence they have no employees; they are run in – house by family members. According to the US Census Bureau County Business Patterns, there were 3,042 bed and breakfast inns with paid employees – 721191. These bed and breakfasts employed 19,665 employees in 2001 in the united states. According to a survey conducted by the PAII there were some 20,000 licensed inns in the United States in 2004.
The report from a survey published in 2001 by CNNMoney online and conducted by B&B Getaways. The survey asked how guests find out about bed and breakfasts and reported the following results: 49% Internet, 18% Word of mouth, 6% Print advertising and travel guides.
The survey also found that one-third of bed and breakfasts charge more than $125 a night. Usually, bed and breakfasts were seen as the ideal place for the weekend-getaway; nevertheless, this only accounted in occupancy for three nights of the week. Business travelers accounts for 52 percent of the lodging industry.
Recently, bed and breakfasts are now shifting their attention to weekday travelers and they have gone ahead to start making provision for amenities such as in-room data ports, high-speed Internet connections, DVD, and many other trappings sought by business travelers.
So also, the numbers of bed and breakfasts adding meeting room space to their facilities is on the increase. The use of these facilities is often complimentary as bed and breakfasts are becoming preferred locations for retreats. A recent survey conducted by PAII found 42% of 800 respondents had meeting room space in 2002, compared to 28% in 2000.
The bed and breakfasts industry is still growing despite the fact that there are many players in the industry. For instance, in 2014, the federal government of the United States spent a total of $161,007 on Bed-and-Breakfast Inns. It has awarded 34 contracts to 5 companies, with an average value of $32,201 per company. The idea is that once a start – up bed and breakfast is well positioned and offers additional services, then they just need to do little to stay in business.
If you are contemplating starting your own beds and breakfasts business in the United States, you should ensure that you carry out a thorough market survey and feasibility studies. If you get some key factors wrong before starting your own bed and breakfasts, then you are likely going to struggle to stay afloat.
Joel & Jamel Homes – Bed and Breakfasts will be located in the heart of Cape May – New Jersey in a neatly renovated and secured housing facility; a family home that is specifically designed and equipped with the needed accommodation facilities / gadgets to give comfort and security to our clients.
Joel & Jamel Homes – Bed and Breakfasts is a family owned and managed business that believes in the passionate pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to venture into the hospitability industry by establishing our own bed and breakfast business.
We are certain that our values will help us drive the business to enviable heights and also help us attract the numbers of clients that will make our accommodation fully booked all through the year. We are going to be a customer-centric bed and breakfast business with a service culture that will be deeply rooted in the fabric of our organizational structure and indeed at all levels of the organization.
With that, we know that we will be enables to consistently achieve our set business goals, increase our profitability and reinforce our positive long-term relationships with our clientele, partners (vendors), and all our employees as well.
Our accommodation facility will be decorated in an exquisite and elegant facade, so much so that it will be a conspicuous edifice in the city where it is located. Joel & Jamel Homes – Bed and Breakfasts will provide a conducive lodging for our customers to take a break from their busy days to a place where they can find comfort and luxury.
Joel & Jamel Homes – Bed and Breakfasts will be equipped with a mini business center, as well as a Fitness room and self-service laundry which will be made available for all our guests at no extra cost.
We will also install a free Wi-Fi that will enable our guests surf the internet with their laptop in the room free of charge, and there will be wireless access in all the public area within the lodging facility; we will also provide mobile phones for loan to business travelers for their convenience so as to enable them stay in – touch with their family members, friends, and business partners.
No doubt our business class guest rooms will provide our customers with a warm and comfortable home away from home. We are set to give our esteemed guests an unforgettable experience whenever they patronize our bed and breakfast lodge.
Joel & Jamel Homes – Bed and Breakfasts is a family business that is owned and managed by Anthony Jefferson and his family. The business will be run by all members of the family – Clara Jefferson (Wife), Joel Jefferson (Son) and Jamel Jefferson (Son). Anthony Jefferson has well over 15 years of experience in hotel management and He has a Master’s Degree in Hotel Management.
Joel & Jamel Homes – Bed and Breakfasts is set to operate a standard Bed and Breakfast service in Cape May, New Jersey. The fact that we want to become a force to reckon with in the hospitality industry means that we will provide our guests with fitness room, social room, and self-service laundry room and mini business center; for the purpose of business or leisure and more.
In all that we do, we will ensure that our guests leaves with an unforgettable experience that will make them want to come back as well as recommend our bed and breakfast lodge to their friends, family members and business partners. These are the services and amenities that will be made available to our guests;
Our Business Structure
The success of any business is to a larger extent dependent on the business structure of the organization and the people who occupy the available role. Although Joel & Jamel Homes – Bed and Breakfasts is a family run business will still work with a business structure that will give room to the minimal employees (mostly part – time employees) to explore their creativity, feel belong and full integrate into the business philosophy.
We will work hard to ensure that we only recruit the right set of people with the right mindset to help us achieve our business goals and objectives in record time. We intend building Joel & Jamel Homes – Bed and Breakfasts on this structure;
Chief Executive Officer – CEO:
Human Resources and Administrative Manager
Marketing Officer
Facility / Maintenance Manager
Accountant / Cashier:
Cleaners / Washer man:
Security Officer:
Joel & Jamel Homes – Bed and Breakfasts is fully aware that they are coming into an industry that can be highly competitive which is why they have decided to pay attention to the SWOT analysis for the organization.
We know that once we are able to identify our strength, our weakness, our threats and the opportunity that is available to us, we will be able to come up with good business strategies that will help us achieve all our business goals and objectives.
Here is a of the result we got from the SWOT analysis that was conducted on behalf of Joel & Jamel Homes – Bed and Breakfasts Cape May, New Jersey;
Our area of strength cannot be farfetched; the location of our bed and breakfast lodge is perfect for such business, our management team has robust experience in the hospitality industry, our customer’s services is second to none in the whole of Cape May – NJ and our facility is top notch
Our perceived weakness could be that we are a new business, and we may not have the financial muscle to sustain the kind of publicity we want to give our business.
One thing is certain, our bed and breakfast facility is well – located in busy travel route; there are loads of travelers passing through Cape May hence there are loads of business opportunities for us. Besides we are the only bed and Breakfast within a 45 meters radius where ours is located.
Some of the threats that we are likely going to face as a bed and breakfast business operating in the United States are unfavorable government policies – the government may decide to place embargo on private residence not to engage in bed and breakfast business so as to enable people who want to rent accommodation get accommodations at a cheaper rate, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing power.
There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.
The trend in the hospitality industry is such that there are peak periods and off peak periods, bed and breakfast lodges and hoteliers know this and they have been able to make provision to properly handle the change in season. For example, during summers or during any major sporting events or business summit in a city, most bed and breakfast lodges, motels, inns and hotels in the city are always almost fully booked.
As a matter of fact, that is the period that most people in the hospitality industry make the money that will sustain the business for the rest of the year. Be that as it may, some bed and breakfast lodges, motels, inns and hotels are well positioned and they enjoy rich patronage all through the 12 calendar month of the year.
Another known trend in the industry is that it is common to see some of the leading bed and breakfasts brand in the United States in different cities in the U.S. This was achieved because some of the leading bed and breakfast decided to venture into selling their franchise and at the same time operating chains of bed and breakfasts.
You can hardly drive through a community located along a major road or a tourist destination without finding a handful of signpost indicating that there are bed and breakfasts facilities in the community. This goes to show that there are loads of players in the bed and breakfasts industry. The reason for this cannot be far – fetched; accommodation is a necessity for travelers or tourists.
In essence, it is profitable to build your brand and then venture into the sale of franchise if you know you don’t have the capacity to manage various branches of your hotel .
Over and above, bed and breakfast lodges and hoteliers generally are quite aware that they in the industry not for quick returns on their investments, but to steadily build a brand that can become a global brand while growing their profits year in year out.
It will be safe to say that the target market for bed and breakfast lodge cuts across adults of all class, race, religion, and culture that can travel from one location to another and can afford to lodge overnight. It is important to state, that the owner of a bed and breakfast can decide to welcome those who they consider safe for them to accommodate in their house (in cases where personal accommodation is used).
This is so because the owners of beds and breakfasts live under same roof they use in accommodating their guests that they most likely have never met before. So safety is always a source of concern for owners of beds and breakfasts.
Here are some of the group of people that we considered target market for our bed and breakfast lodge;
Our competitive advantage
The competitive edge of Joel & Jamel Homes – Bed and Breakfasts is the excellent and customized service that we offer to our entire guest irrespective of their status.
We can boldly say that the location of our bed and breakfast lodge is going to give us an edge over our competitors in Cape May – New Jersey. We are the only bed and breakfast lodge within our location. As a matter of fact, from the location of our bed and breakfast lodge, you can connect any part of the city with little or no stress.
Another significant competitive advantage that we are bringing to the industry is the robust experience of our management team. We have a team that has a combination of 25 years of experience in the hospitality industry in United States and Canada. They are considered core professionals in their own right.
Joel & Jamel Homes – Bed and Breakfasts is established with the aim of maximizing profits in the hospitality industry and we are going to go all the way to ensure that we do all it takes to attract guests on a regular basis and sign retainer – ship with most of our corporate clients.
Joel & Jamel Homes – Bed and Breakfasts will generate income by offering the following services for individuals and for corporate organizations;
We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.
We have been able to critically examine the bed and breakfast market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Cape May – New Jersey.
Below is the sales projection for Joel & Jamel Homes – Bed and Breakfasts, it is based on the location of our business consulting firm and the wide range of consulting services that we will be offering;
N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
It is important to clearly state that in this dispensation, customers use the Internet to find bed and breakfasts, to read reviews, to view facility available and the location of the bed and breakfasts; loads of processes have gone digital.
Which is why most bed and breakfasts are increasingly adopting technology and the internet for marketing and advertising their business and we are not going to be left out. These are some of the marketing ideas and strategies that are going to adopt for our bed and breakfasts business;
Joel & Jamel Homes – Bed and Breakfasts is in the hospitality business to make profit and we can only make profit if we steadily increase our customer base. No doubt, in order to remain relevant in the hospitality industry as a bed and breakfast lodge in Cape May – New Jersey, we will continue to create hype around our business brand.
We will ensure that we leverage on all conventional and non – conventional publicity and advertising technique to promote our bed and breakfast brand. Here are the platforms we intend leveraging on to promote and advertise Joel & Jamel Homes – Bed and Breakfasts;
Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than our competitors are offering in the United States of America.
Be that as it may, we have put plans in place to discount our products and services once in a while and also to reward our loyal customers.
Our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our bed and breakfast lodge;
In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any difficulty.
When it comes to starting a bed and breakfasts business, loads of factors influences the amount that will be required to successful launch the business. Factors like the location you intend starting the business, the size of bed and breakfast business you want to start i.e. the number of rooms et al, and of course the state of the economy as at when you intend start the business.
Here are the key areas where we intend spending our start – up capital;
Going by the report from our research and feasibility studies, we will need an average of $70,000 to start a small scale but standard bed and breakfasts business in the United States of America. Please note that this amount is excluding the cost of renting a facility because we are going to be making use of free rooms in our apartment.
Generating Funding / Startup Capital for Joel & Jamel Homes – Bed and Breakfast
Joel & Jamel Homes – Bed and Breakfasts is a family business that will be owned by Mr. Anthony Jefferson and his family. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
N.B: We have been able to generate about $20,000 (Personal savings $15,000 and soft loan from family members $5,000) and we are at the final stages of obtaining a loan facility of $50,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
It is easier for businesses to survive when they have steady flow of business deals / customers patronizing their products and services. We are aware of this which is why we have decided to do all we can to continue to attract guest to our bed and breakfast lodge on a regular basis.
We know that if we continue to deliver excellent services, there will be steady flow of income for the organization. Part of the grand plan of sustaining Sean and Sharon hotel is to ensure that we provide the best of trainings for our employees, put a succession plan in place, and we will not relent in marketing and promoting our hotel brand.
From our findings, another factor that kills new business is financial leakages. In order to plug financial leakages, the management of Joel & Jamel Homes – Bed and Breakfasts will adopt the use of payment machine and accounting software to run the business.
In the bid to building a successfully business, we will ensure that all our employees are comfortable and we will provide them with the best of facilities and welfare package that will help them achieve peak performance in all their duties and in turn help the organization achieve its goals and business objectives.
Check List / Milestone
Elektrostal Localisation : Country Russia , Oblast Moscow Oblast . Available Information : Geographical coordinates , Population, Area, Altitude, Weather and Hotel . Nearby cities and villages : Noginsk , Pavlovsky Posad and Staraya Kupavna .
Find all the information of Elektrostal or click on the section of your choice in the left menu.
Country | |
---|---|
Oblast |
Information on the people and the population of Elektrostal.
Elektrostal Population | 157,409 inhabitants |
---|---|
Elektrostal Population Density | 3,179.3 /km² (8,234.4 /sq mi) |
Geographic Information regarding City of Elektrostal .
Elektrostal Geographical coordinates | Latitude: , Longitude: 55° 48′ 0″ North, 38° 27′ 0″ East |
---|---|
Elektrostal Area | 4,951 hectares 49.51 km² (19.12 sq mi) |
Elektrostal Altitude | 164 m (538 ft) |
Elektrostal Climate | Humid continental climate (Köppen climate classification: Dfb) |
Distance (in kilometers) between Elektrostal and the biggest cities of Russia.
Locate simply the city of Elektrostal through the card, map and satellite image of the city.
Weather forecast for the next coming days and current time of Elektrostal.
Find below the times of sunrise and sunset calculated 7 days to Elektrostal.
Day | Sunrise and sunset | Twilight | Nautical twilight | Astronomical twilight |
---|---|---|---|---|
23 July | 03:16 - 11:32 - 19:49 | 02:24 - 20:40 | 01:00 - 22:04 | 01:00 - 01:00 |
24 July | 03:17 - 11:32 - 19:47 | 02:26 - 20:38 | 01:04 - 22:00 | 01:00 - 01:00 |
25 July | 03:19 - 11:32 - 19:45 | 02:29 - 20:36 | 01:08 - 21:56 | 01:00 - 01:00 |
26 July | 03:21 - 11:32 - 19:44 | 02:31 - 20:34 | 01:12 - 21:52 | 01:00 - 01:00 |
27 July | 03:23 - 11:32 - 19:42 | 02:33 - 20:32 | 01:16 - 21:49 | 01:00 - 01:00 |
28 July | 03:24 - 11:32 - 19:40 | 02:35 - 20:29 | 01:20 - 21:45 | 01:00 - 01:00 |
29 July | 03:26 - 11:32 - 19:38 | 02:37 - 20:27 | 01:23 - 21:41 | 01:00 - 01:00 |
Our team has selected for you a list of hotel in Elektrostal classified by value for money. Book your hotel room at the best price.
Located next to Noginskoye Highway in Electrostal, Apelsin Hotel offers comfortable rooms with free Wi-Fi. Free parking is available. The elegant rooms are air conditioned and feature a flat-screen satellite TV and fridge... | from | |
Located in the green area Yamskiye Woods, 5 km from Elektrostal city centre, this hotel features a sauna and a restaurant. It offers rooms with a kitchen... | from | |
Ekotel Bogorodsk Hotel is located in a picturesque park near Chernogolovsky Pond. It features an indoor swimming pool and a wellness centre. Free Wi-Fi and private parking are provided... | from | |
Surrounded by 420,000 m² of parkland and overlooking Kovershi Lake, this hotel outside Moscow offers spa and fitness facilities, and a private beach area with volleyball court and loungers... | from | |
Surrounded by green parklands, this hotel in the Moscow region features 2 restaurants, a bowling alley with bar, and several spa and fitness facilities. Moscow Ring Road is 17 km away... | from | |
Below is a list of activities and point of interest in Elektrostal and its surroundings.
Direct link | |
---|---|
DB-City.com | Elektrostal /5 (2021-10-07 13:22:50) |
by I.J. Karam | Dec 14, 2020 | Business Plans
Thinking of opening a B&B business? That’s cool. However, before you launch it, you will need to create a bed and breakfast business plan . It can come in real handy when you meet investors or later on when you need to see if your business is moving in the right direction and fast enough.
Many entrepreneurs don’t want to spend time creating a detailed B&B business plan because they think it’s a tough ask. But that’s not the case. Of course, you will need to allot some time to the activity, but it is far from being something that you can’t do.
Before we get started, you might be interested to check out our Ready-made Bed and Breakfast Business Plan Template with pre-written text and automatic financials which you can easily customize and adapt to your own project, no financial expertise required .
In this post we will share the nuts and bolts of how to write a great bed and breakfast business plan. So let’s get going…
Now, there’s no definite answer to this question. However, most experts agree it’s a good idea to include at least the following sections in your business plan:
– Executive Summary – Company Overview – Customer Analysis – Competitive Analysis – Marketing Plan – Operation Plan – Management Plan – Financial Plan
Now, let’s check out what goes into each of these listed sections.
Step 1 – Executive Summary
The importance of having a strong executive summary can’t be stated enough. It is the most important part of your B&B business plan and introduces the reader to your business. If the introduction is not exciting, getting the reader to read the entire business plan is likely to prove a big challenge. So don’t make thing hard for yourself by penning a mediocre summary. Instead, put in some time and effort to craft an executive summary that convinces the reader that reading your entire bed and breakfast business plan is going to be worth their while.
So what makes a great executive summary?
It should have these attributes:
Introduces readers to your B&B business
Gives key information about your project upfront and clearly states the goal. If you are looking for funding , the goal with the amount of money you need to launch your bed and breakfast business
Grabs and holds the reader’s interest in your project, so that they would want to know more about it
If you’re wondering what goes into a B&B executive summary, the answer is:
– Business Overview – Services – Customer Focus – Management Team – Success Factors – Financial Highlights (If you plan to raise funds, mention the exact amount of money you need here)
Here’s a sample executive summary to help you crack this section.
Sample Executive Summary
Business Overview
ABC Bed & Breakfast located at <mention the location here> is an upcoming Bed and Breakfast that focuses on offering clean rooms with modern character, attractive to leisure all kinds of visitors to this area. Our rooms feature ultra-modern furniture, coupled with the latest technology and a wide range of accessories.
ABC Bed & Breakfast is going to offer a whole gamut of standard Bed and Breakfast services. This includes daily room cleaning, cable TV, free local calls, free Wi-Fi and several other amenities. In addition, we are going to offer a restaurant lounge serving breakfast, as well as lunch and dinner and Tea and Cocktails.
Customer Focus
ABC Bed & Breakfast is going to mainly serve leisure travelers who want comfort, key amenities, and great service. In general, the market for this segment tends to be relatively well educated and affluent as detailed below:
Guests on pleasure trips or on vacations use bed and breakfasts more than anyone else. They usually tend to take short breaks or weekend breaks to de-stress. In addition, special events, like weddings, are also important revenue drivers.
Other key revenue drivers include business seminars, business meetings and group travel during weekdays. These guests usually prefer rooms at strategically located properties.
100,000 visitors come to <this area> every year, as per the local office of tourism.
50% of visitors are between ages of 35 and 45, 20% between ages of 45 and 59, 15% between the ages 20 and 29, and 8% are 60+ according to an official survey
The average household income is $85,900 as per the national Bed and Breakfast Association
Management Team
ABC Bed & Breakfast is led by Erik Edwards, who has 22 years of experience in this industry under his belt. While Erik Edwards has not launched this kind of business from ground up, he has an extensive experience, most recently in the capacity of a general manager of a well-known Bed and Breakfast business. During his career, the owner has held a number of different positions in the management chain. Thanks to this, he has an extensive knowledge of this business, which also extends to operations (that is, the running of a Bed and Breakfast business on day to day basis) as well as the business management side (that is, marketing, staffing and the rest).
Success Factors
ABC Bed and Breakfast is well-qualified to succeed thanks to these reasons:
At present, the community that we are entering doesn’t have a Bed and Breakfast. Apart from that, we thoroughly surveyed the area and found that this community receives frequent visitors who are inclined to use our property when launched.
Our B&B business is strategically located, which is a massive advantage. It is just a few minutes’ drive from the airport, downtown, corporate district, and the main tourist attractions of the town.
We have a proven track record in this industry, which will keep us in good stead when we start operations of our B&B.
The city’s governor recently announced plans to pump in more than $10 million in tourist attractions to boost local tourism. Our survey shows that existing hotels are not in the position to handle the increased capacity of visitors coming to the town.
Financial Highlights
ABC Bed and Breakfast is presently seeking $1,000,000 to set up the business. Specifically speaking, we will use these funds as follows:
Bed and Breakfast building and design: $750,000
Working capital: $250,000 for paying salaries, operating costs and marketing expenses until we reach break-even.
Step 2 – Company Overview
In this section, you need to talk about your B&B concept and share finer details. Specifically speaking, answer these important questions:
– Who owns the business? – What is your company’s history? – What kind of amenities you are going to provide? – How many rooms your bed & breakfast will have?
Sample Company Overview
What is ABC Bed & Breakfast?
ABC Bed & Breakfast is owned by Erik Edwards, who has been associated with this specific industry for over two decades. He decided to launch his own business three months back after spending some time in <name of the location>, which convinced him of a singular opportunity to set up a mid-sized Bed & Breakfast business. During his trip to this city, he couldn’t find one mid-level Bed & Breakfast business in the downtown area, even when a large number of tourists visit this part of the country every year. Given these facts, Erik Edwards quickly spotted a unique opportunity, that a Bed and Breakfast would enjoy considerable success in this area.
ABC Bed & Breakfast History
Erik Edwards incorporated his business on 20 th Sept, 2020. Currently, the development operations are being run out from his home office. However, once Erik Edwards acquires the land and property rights, operations will start running from an on-site location.
Since its incorporation, the business has completed these milestones:
– Selected a suitable location for the business and signed the land deal – Created the company’s website and logo – Hired a reputable local architecture firm for the creation of the building’s blueprint – Determined equipment financing requirements – Started hiring key employees
ABC Bed & Breakfast Services
We will initially offer the following amenities:
– Single and double Rooms – Studio apartments (suitable for long-term stays) – Restaurant lounge
Our single and double rooms’ amenities include:
– One or two Double Beds – Modern Bathroom – Workspace – Toiletries – Daily Cleaning – Complimentary Tea and Coffee – TV with Cable – Wi-Fi
Our studio apartment’s amenities include:
– California King bed – Sitting Room area featuring Workspace, TV and Couch – A luxury Bathroom featuring Jacuzzi and Shower – Toiletries – Daily Cleaning – Tea, Coffee and Chocolate – Dining area (featuring a modern dining table) – Kitchenette (fully-equipped with microwave, oven, refrigerator, etc) – Wi-Fi – Flat Panel TV
Our restaurant lounge features:
– Breakfast, lunch and dinner menus – Afternoon tea – Wi-Fi – Cocktails – Weekend live entertainment
Bed and Breakfast Design
ABC Bed and Breakfast is going to develop a spacious 17,000 sq ft guesthouse. Here are the key elements that will be included:
– Lower and upper floors with 15 Single or Double rooms – 3 Studio apartment styled rooms – A spacious restaurant Lounge
Our location is going to feature free parking space in case our guests need to park their vehicles.
Step 3 – Customer Analysis
This is the time to talk about your prospective customers. That is, who they are, what do they look for in a bed and breakfast business and why they will choose you over others.
For instance, if we continue with the example of ABC Bed & Breakfast business, we can say something in the lines of:
“There are no mid-level bed & breakfast businesses in this area and many customers would prefer a middle-sized establishment over others. We plan to target these visitors, who constitute a big part of the total tourist footfall.”
Step 4 – Competitive Analysis
Share details about your direct as well as indirect competitors in this section. More importantly, show how your business stands out in the crowd. The best way to showcase this is by using data-backed facts. You may want to use graphs and charts to build your case. It’s important that you clearly convey your business’s unique selling proposition (aka USP).
Remember: Having a great business idea alone is not enough. You must also be able to demonstrate that your offerings are unique or there’s not much competition in the niche you plan to enter. Lack of competition increases your chances of real success.
Step 5 – Financial Analysis
This is the section where you need to provide an estimate of your B&B business’ operating costs. In addition, you will need to specify the exact amount you need for optimal operation. Also, address the potential profit-and-loss areas your bed and breakfast business may accrue.
Most business plan writing experts are of the opinion that entrepreneurs should provide a financial projection for the first few years. You should give financial projections for at least 3 years. But if you can, try sharing financial projections for 5 years. Also, remember that your financial projections must be backed by hard data and shouldn’t be based on intuition.
Step 6 – Appendices
In this section, you can share all those documents that may give your bed and breakfast business idea more appeal, such as:
– Market research and marketing data – Showcase your previous work (this could come in handy if you are seeking to raise capital) – Key statistics and charts
A bed and breakfast business plan is an important business document. Do a thorough research of the location you plan to penetrate and create a detailed business plan to help you launch a bed and breakfast business on the right track.
>>Download a PDF version of this Bed & Breakfast Business Planning guide.
Download a Ready-Made Business Plan, Choose Your Industry:
© 2024 · Data protection policy · Terms of use · Credits/Sources · Contact
Tony Sekulich
15 min. read
Updated November 13, 2023
Free Download: Sample Real Estate Business Plan Templates
It’s an image that puts you in an instant state of relaxation—a roaring fireplace in a cozy rural bed and breakfast, sharing stories with fellow travelers while enjoying a glass of brandy or your favorite red wine.
The romantic notions so closely associated with a bed and breakfast have made owning one a popular dream for many people. This is one of the reasons the bed and breakfast (B&B) industry has grown so significantly in recent years.
Do you sometimes drive by a historic property and find yourself fantasizing about turning it into a bed and breakfast? Do you imagine spending your mornings preparing a hearty meal for tourists from around the globe and your afternoons filling the place with the intoxicating aroma of fresh-baked cookies and muffins for when they return?
If this is something you have given serious thought to, starting your own bed and breakfast can be a rewarding and profitable venture. But be sure to go in with both eyes open, as it also requires constant hard work and attention to detail, which might not be a keen interest for everyone.
This article offers step-by-step information on what goes into prepping for and launching your very own bed and breakfast business. To provide an inside perspective on what it takes to run and maintain a successful B&B, I interviewed Kathleen Karamanos, owner and operator of Fundy Heights Bed and Breakfast in Saint John, New Brunswick, on Canada’s scenic East Coast.
If you’ve never had the unique pleasure of staying in a bed and breakfast, you may easily confuse it with other small, privately run inns and motels.
A bed and breakfast is a hybrid which blends the luxury and comfort of an upscale hotel with the atmosphere and décor of a beautiful private residence. Often they are older historic properties which people seek out for the experience of centuries-old hospitality. In fact, 36 percent of American B&Bs have received some kind of historical designation by a preservation society.
Whether the property is historic or not, what makes the experience different from hotels and motels or vacation rentals is the personal attention guests receive from the owner. Playing the role of host, chef, and meal companion, the B&B owner is fully immersed in the guest’s experience. As the name would suggest, the nightly fee includes a hearty, home-cooked meal the next morning.
It’s worth noting that the lines between vacation rentals and traditional bed and breakfasts are ever more blurry, thanks to Airbnb. Prior to 2017, Airbnb was much more focused on the vacation rental experience—meaning your guests check in and it’s likely that you might not ever seem them, and even more likely that breakfast isn’t part of the deal. But these days, you’re more likely to find B&Bs listed alongside regular rentals on Airbnb.
In the United States alone, the B&B industry is expected to top $5 billion in 2020 , with more than 19,000 establishments across the country. Unlike major hotel and motel chains, bed and breakfasts are typically not owned by corporations.
Brought to you by
Using ai and step-by-step instructions.
Secure funding
Validate ideas
Build a strategy
The average American bed and breakfast has an occupancy rate of 43.7 percent and an average daily rate of $150. One way to stay on top of B&B and lodging trends is to connect with industry associations like AIHP , the association of independent hospitality professionals.
This more than anything can be a deciding factor in whether your bed and breakfast venture is a pleasant dream-come-true experience or a daily grind which will wear you down in no time.
According to Kathleen Karamanos, being able to interact with your guests is a key aspect of the job. “You have to make sure you enjoy being in the service industry,” she says. “If you don’t genuinely enjoy meeting new people and finding out where they’re from and learning all about them, this is not the business for you.”
There is plenty of anecdotal evidence of bed and breakfast owners who mistakenly thought they could simply check their guests in and then not interact with them again until they checked out, as though they were running a conventional hotel or vacation rental. This approach is a recipe for failure in an industry that relies on word of mouth and social media recommendations.
The bed and breakfast industry is a common haven for those looking to get out of the high-stress, corporate lifestyle. While there is no question that great relaxation and satisfaction can be found in the decorating, baking, and cooking that will fill your day, there is still a business element that cannot be neglected.
It is probably no coincidence that nearly three-quarters of all bed and breakfast establishments in the U.S. are owned by couples. Not only is the workload demanding for only one person, but often it requires two people with very different dominant skill sets. It is very common to see one person handle all the hospitality duties while the other focuses on the business responsibilities.
There’s nothing wrong with wanting to make a huge amount of money quickly, but you will likely want to look for alternative business opportunities if this is the case. That said, running a bed and breakfast can be a profitable and sustainable business. Many couples use it as a way to provide steady income while maintaining a lifestyle they enjoy. However, it is not the type of business that will provide a huge cash infusion over a short period of time.
There may be special events (conventions, festivals, and so on) which will keep your bed and breakfast booked solid for a stretch of time, but in the long term, occupancy rates will ebb and flow depending on the season. It is practically unheard of for a B&B to be at maximum occupancy all year round. So while you can make a steady profit, you will not “get rich quick.”
Every new business can benefit from writing a business plan . You’ll definitely need one if you’re planning to seek funding in the form of a bank loan or investment (more on that in the next step).
If you’ve never written a business plan before, check out our free library of hotel and bed and breakfast sample business plans . You can also download our free business plan template to help you get started.
Don’t get bogged down in the process. If you don’t need to seek funding, write a Lean Business Plan instead, and use it as a tool to strategically manage your business as it gets up and running and starts to grow.
Using a tool like LivePlan that has business dashboards that connect to your accounting solution built right in can help you stay on top of your finances and even model scenarios for growth.
Like, what if you were able to exceed the industry average of less than 50% occupancy? What if you added a second location? What if you increased prices by 10% or hired someone to cook breakfast? Reviewing your financials regularly and especially understanding your cash flow can really help you when it’s time to make a major financial decision.
Many older couples sell their home or business in order to invest in a bed and breakfast which will serve as both their residence and primary source of income. If this is not an option for you, there are several funding options , including finding private investors, getting a small business loan from a bank, or finding other business support programs. How much money needed to get the project off the ground will depend on whether you are inheriting a ready-made B&B or converting a property into one.
If you are converting a residence into a bed and breakfast, a suggested rule of thumb is $20,000-$40,000 per guest room for a small property and $35,000 to $50,000 for a larger one . This factors in costs for remodeling to meet regulations as well as brand new bedding, towels, appliances, fixtures, and decorative effects for the room.
Always factor in maintenance costs, both preventative, and emergency. Even in the best-case scenario, you are still going to pay for regular upgrades and maintenance to the exterior, plumbing, and electrical. You’ll also have to be prepared for the worst-case risks when a plumbing pipe bursts or an entire section of the building needs rewiring. If these costs are not factored into the startup financing, you can find yourself in an operational bind before you know it.
While it is true that almost any private residence can be converted into a bed and breakfast, not every residence is well suited to being a B&B. To be successful and stand out amongst the competition, there should be something unique and attractive to the building you plan to use. Spend some time on choosing the best location before you buy your property .
Many bed and breakfasts use a historic angle to draw guests. Often a Victorian home can give travelers a sense of what it would be like living in the area in the late 1800s. Others may use proximity to the waterfront or other notable features as a way to entice guests to stay there.
Kathleen Karamanos believes the convenient location of her bed and breakfast is a big selling point for her business. The Fundy Heights B&B is close to downtown as well as to the major highway, which brings travelers north from the New England States, Southeast to Nova Scotia and Prince Edward Island, and West to Montreal, Ottawa, and Toronto.
Zoning and regulations:.
You’ll want to study up on all local and state or provincial zoning by-laws. You may have the most beautiful, well-maintained vintage property that seems perfectly suited for bed and breakfast conversion, but if it is in a strictly residentially zoned neighborhood, it may be over before you begin.
Check to see if a business license can be granted for the property at your preferred location. Because a B&B is not an industrial operation, it should not be too difficult to get the necessary clearances, but you cannot take it for granted. Without the green light from the zoning commission, you will not be able to move forward.
Then, be sure to find out what other specific bed and breakfast regulations are in place in your jurisdiction. There was a time when it was common for multiple guest rooms to share a common bathroom.
If this is the plan for your bed and breakfast, you would not be able to operate in the Province of New Brunswick, for example. Kathleen Karamanos is required to have a separate bathroom for each family unit who stays there. Half of the rooms have a private bathroom while the other half have stand-alone bathrooms assigned to each room. Make sure you are aware of all local regulations for running a bed and breakfast as they vary from jurisdiction to jurisdiction.
Like any other part of the hospitality industry, staying at a bed and breakfast is really a luxury which is not available to everyone. It is crucially important that your B&B is located within a community that has a proven tourism track record and a local economy that can support it.
Don’t give yourself an unnecessarily tough row to hoe by opening up a bed and breakfast in an area that doesn’t have the tourist draw to support it.
You’ll need to make sure you have all of your business license and certifications in place . This goes well beyond simple zoning clearance and covers all the regulatory requirements in running this type of hospitality service.
Very few industries are more reliant on word of mouth to attract new customers than a bed and breakfast.
It would seem the best way to get new guests through the door is to keep your current guests more than satisfied with their stay. Especially since the modern day “word of mouth” is a travel site review, where a bad review can be a permanent stain on the operation’s reputation.
Use email templates to help streamline your communications with guests and your staff to save you time and increase guest satisfaction. Keep your website up to date, and consider whether it makes sense to use listing platforms like Airbnb. And always follow up and ask for reviews
Kathleen Karamanos launched a specific strategy to establish strong ties to the travel sites and local tourism boards. That strategy has since proven to be very successful.
“We received a certificate of excellence from Trip Advisor in 2015 and since I took over in 2014, I was able to raise our Canada Select (National accommodations rating program) score from a 4 to a 4.5,” she explains.
Kathleen believes you cannot overestimate the importance of travel advisory ratings in attracting guests. Despite being in a demographic known for their comparatively sparse use of technology, most of her guests find her bed and breakfast and make their first assessment online. But don’t panic if you get a bad review . It’s an opportunity to improve going forward.
She also strongly recommends getting involved with local travel boards and groups, as indirect marketing of your establishment can be very effective in increasing your occupancy rate.
Start thinking of special promotions and offers that would appeal to each of the above segments.
For example, partnering with a local spa to offer a reduced rate on a couple’s massage to guests who stay at your bed and breakfast is a great way to attract more business and it is benefiting more than one local business. Find other win-win partnerships and it will go a long way to strengthening your B&B’s long-term prospects for success.
Perhaps you are part of a couple looking to open up a bed and breakfast and you plan to divide the chores and responsibilities among yourselves. This is not at all uncommon. But before you decide to join their ranks, you should have a complete picture of precisely how labor intensive running a B&B can be.
Susan Poole is the owner of the award-winning 40 Bay Street Bed and Breakfast in Parry Sound, Ontario, and serves as a bed and breakfast coach for new and prospective owners.
All of this is on top of the other weekly chores that must be done, such as grocery and supply shopping. If you are not fully prepared to take on this workload yourself and be fresh to interact with your guests, you will want to bring in hired help.
Each owner will have to decide which responsibilities they want to take on themselves and which ones they want to delegate to employees. Kathleen Karamanos decided to take a culinary course in New York prior to taking over her B&B and believes it has made a huge difference in the quality of service she is able to provide to her guests.
Additional resources to help you with hiring:
Below you’ll find a list of resources that can help you find out more about what you’ll need to do to start your successful bed and breakfast business venture.
Free Bed and Breakfast Business Plans : The Bplans library of free sample business plans includes a section of four sample business plans exclusively for those interest in starting a bed and breakfast.
BedandBreakfast.com : Provides information for aspiring and experienced innkeepers, educational resources, and everything you need to create the best listing for your inn.
The American Bed and Breakfast Association : The American Bed and Breakfast Association is an organization dedicated to the promotion of bed breakfast inns nationwide.
InnSpiring.com : An active forum with some very experienced innkeepers and aspiring innkeepers who aren’t afraid to ask questions to help themselves get where they want to be. This site also contains recipes, resources, and articles.
“I’ve Always Wanted to Run a Bed & Breakfast”: The Secrets to Starting and Running a Successful B&B by Chris Bengivengo and Michelle Bengivengo
Starting & Running A B&B: A Practical Guide to Setting Up and Managing a Successful Bed & Breakfast Business by Stewart Whyte
Tony has returned to his early love of journalistic writing by freelancing long form articles and blog posts. He is currently turning his TV series pilot for The New Twenty into his first novel. Tony lives in Toronto where he continues to be tormented by his beloved Maple Leafs.
Table of Contents
Related Articles
11 Min. Read
How to Start a Clothing Company
9 Min. Read
How to Successfully Start a Dental Practice
10 Min. Read
How to Start a Luxury Day Spa
Should You Sell on Etsy, or Build Your Own eCommerce Site?
The Bplans Newsletter
Subscribe now for weekly advice and free downloadable resources to help start and grow your business.
We care about your privacy. See our privacy policy .
Fill-in-the-blanks and automatic financials make it easy.
No thanks, I prefer writing 40-page documents.
Discover the world’s #1 plan building software
IMAGES
VIDEO
COMMENTS
B&Bs, along with other short-term lodging on Tybee Island, have been a substantial part of the island tourism. Of the short-term lodgings on Tybee, ten are categorized as Inns, 19 as long-term lease facilities (rentals, condos, and houses) and only four as B&Bs, including the Coach House (currently operating as the Marsh Hen Bed and Breakfast).
Three months of overhead expenses (payroll, utilities): $50,000. Marketing costs: $50,000. Working capital: $50,000. Easily complete your Bed and Breakfast business plan! Download the Bed and Breakfast business plan template (including a customizable financial model) to your computer here <-.
To facilitate this customization, we provide a downloadable "Bed & Breakfast Business Plan PDF". This document is an essential resource for entrepreneurs dedicated to developing a robust and effective strategy for starting or enhancing their bed and breakfast. The "Bed & Breakfast Business Plan" acts as an in-depth guide, offering extensive ...
Follow these tips to quickly develop a working business plan from this sample. 1. Don't worry about finding an exact match. We have over 550 sample business plan templates. So, make sure the plan is a close match, but don't get hung up on the details. Your business is unique and will differ from any example or template you come across.
It would consist of a market analysis followed by an advertising strategy. 5. Operations Plan. This section is crucial especially for a B&B as it helps you plan your daily activities from how you would manage your customers to business milestones like expanding your services, growing to a certain size, etc. 6.
Download Bed and Breakfast Business Plan Template + PDF. Putting up a bed and breakfast is the ideal business for those who want to venture into the hospitality industry, but wanting to keep it on a small scale. Also known as a B & B, this business has been around for generations to provide visitors with comfortable lodging, memorable meal, and ...
6. Operations plan: This section outlines the day-to-day operations of your B&B, ensuring a smooth and seamless guest experience. Guest services: detail your check-in/check-out procedures, housekeeping standards, and guest communication protocols. Breakfast operations: outline your approach to breakfast service.
Vineyard Bed & Breakfast Business Plan. The Enchanted Vineyard Bed & Breakfast is a charming bed and breakfast located in the Lorane Valley, outside of Eugene, OR. If you've always dreamed of opening a bed and breakfast and now are ready to make that dream reality, you'll want to give your new business the best possible chance for success.
A bed and breakfast business plan is a great way to develop and grow your business. If you're just starting out with your B&B, having a good business plan gives you a good roadmap to success. Using our free template is a good starting point. Our sample already includes all of the sections required for a well-rounded business plan.
This differentiation is crucial in the rental property business plan as it showcases the unique selling propositions of your Bed and Breakfast. 5. Marketing and Sales Strategy. An effective Bed and Breakfast business plan must include a well-thought-out marketing and sales strategy to attract and retain customers.
Bed and Breakfast Business Plan Sample. Below are links to each of the key sections of an example Bed & Breakfast business plan. Once you create your plan, download it to PDF to show banks and investors. ... B&B Business Plan Outline. B&B Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V ...
Here is the table of content of this Bed & Breakfast business planning guide: How Many Sections A Professional Bed & Breakfast Business Plan Should Have. Bed & Breakfast Business Plan Step-by-Step Breakdown. Step 1 - Executive Summary. Step 2 - Company Overview. Step 3 - Customer Analysis. Competitive AnalysisStep 5 - Financial ...
Bed and Breakfast Business Plan. Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their bed and breakfast businesses. If you're unfamiliar with creating a bed and breakfast business plan, you may think creating one will be a time-consuming and frustrating process.
A compelling & detailed pre-written Bed and Breakfast business plan template in WORD. A full and automatic Bed and Breakfast financial plan model in EXCEL you can easily customize. Customized text tailored to the B&B business. The ability to paste advanced charts and tables within a click. No accounting or specialized financial knowledge needed.
Here is a free business plan sample for a bed and breakfast establishment January 29, 2024. ... Compared to other business plans, a B&B plan must pay special attention to the guest experience, local tourism dynamics, and personal service, which are central to the business model.
A Sample Bed and Breakfast Business Plan Template 1. Industry Overview ... The report from a survey published in 2001 by CNNMoney online and conducted by B&B Getaways. The survey asked how guests find out about bed and breakfasts and reported the following results: 49% Internet, 18% Word of mouth, 6% Print advertising and travel guides. ...
7.1 Personnel Plan. Jim and Nancy sold a small motel a year and a half ago with the intent of finding the ideal location for a bed and breakfast. The personnel plan consists of Jim and Nancy's schedule plus that of the staff. Stacie, our cook will work 20 hours per week and will help with the shopping for the supplies.
A mix of the charming, modern, and tried and true. See all. Apelsin Hotel. 43. from $48/night. Apart Hotel Yantar. 2. from $28/night. Elektrostal Hotel.
Elektrostal Geography. Geographic Information regarding City of Elektrostal. Elektrostal Geographical coordinates. Latitude: 55.8, Longitude: 38.45. 55° 48′ 0″ North, 38° 27′ 0″ East. Elektrostal Area. 4,951 hectares. 49.51 km² (19.12 sq mi) Elektrostal Altitude.
Bed and Breakfast building and design: $750,000. Working capital: $250,000 for paying salaries, operating costs and marketing expenses until we reach break-even. Step 2 - Company Overview. In this section, you need to talk about your B&B concept and share finer details.
What time is it in Elektrostal'? Russia (Moscow Oblast): Current local time in & Next time change in Elektrostal', Time Zone Europe/Moscow (UTC+3). Population: 144,387 People
Find other win-win partnerships and it will go a long way to strengthening your B&B's long-term prospects for success. 7. Hire your staff. Perhaps you are part of a couple looking to open up a bed and breakfast and you plan to divide the chores and responsibilities among yourselves. This is not at all uncommon.
Cities near Elektrostal. Places of interest. Pavlovskiy Posad Noginsk. Travel guide resource for your visit to Elektrostal. Discover the best of Elektrostal so you can plan your trip right.