A bed and breakfast (typically shortened to B&B or BnB) is a small lodging establishment that offers overnight accommodation and breakfast . Bed and breakfasts are often private family homes and typically have between four and eleven rooms, with six being the average.
The main difference between a bed and breakfast and a hotel is that the owners of a B&B see their patrons as guests, while hotels may see their patrons as customers. In fact, some B&B owners are willing to rent out their whole inn to a group for a weekend so they can have a fun get-together.
Usually 2-3 hours is adequate time to get things ready, depending upon laundry needs, the degree of mess left behind and any maintenance that might be needed, but this is contingent on how many rooms a property has, whether the innkeeper is solo or not, staffing, etc.
“This is not a business you go into to make a lot of money,” cautions Nancy Sandstrom, a former lecturer on B&B startups and now in her sixth year as an innkeeper. “You can make a profit, and many of your personal expenses are semi-covered. But it’s a lifestyle decision. You’ll make your real profit when you sell.”
Do I have to eat breakfast with other guests? A home-cooked breakfast shared with fellow travelers is a much-loved perk of the B&B experience. It may seem like breakfast is a must—after all, it’s usually included in the price of your stay—but the reality is a lot more flexible.
According to one survey of bed and breakfast operations, the average number of room nights booked is 362 (that’s a per-inn total, not 362 nights per room), and that’s after several years of operation. If you figure 362 room nights at the average rate of $60 a night, that’s a gross income of about $20,000 .
Briefly, here’s the difference between and Airbnb and a B&B . Airbnb is a lightly regulated home-sharing site that lets almost anyone list accommodations for rent. A B&B is a regulated small inn subject to state or local lodging laws. Think of it as a small hotel with a few extra perks and personal touches.
The most obvious amenity you can expect is breakfast ! In some B&Bs, breakfast is served in one area where everyone eats together. In others, you can eat privately in your room, on a patio or balcony. Make sure to ask about dining arrangements when you make reservations.
What Makes a Bed and Breakfast Successful? Offer a “Happy Hour” where guests can mingle & meet you and your staff. Create a place within your B&B where people can feel cozy – this can be a fireplace, a gazebo, or a private picnic area. Avoid buying low-quality bedding – invest in luxury sheets and duvets so that your guests get a great nights’ sleep.
You can own and run one and live off the premises. You can even hire staff. It all comes down to personal preference. As B&Bs move with the times, younger guests tend to be more independent and enjoy the more relaxed atmosphere of a B&B with all the mod-cons of a hotel.
After all, not many guests will be requiring alcohol at breakfast , and if there is no bar in the dining., lounge or other communal room, then it simply isn’t an issue. Once that’s begun then the question of selling (and therefore licensing) alcohol to accompany the evening meal comes up.
If you’re interested in starting your own B&B , here are some essential steps you can use to get up and running. Evaluate the Market. Secure a Location. Get Licenses and Permits. Customize the Space. Create a Daily Tasks List. Calculate Finances. List Your Rooms. Encourage Customer Reviews.
Most people should be able to obtain a mortgage on a guest house or bed and breakfast business. Lenders will want to be satisfied that you are creditworthy, that the business can support itself and any mortgage payments and that the property being mortgaged provides acceptable security for a loan .
Banks and other lending institutions are willing to approve loans for B&B owners, and the SBA 7(a) loan is a great choice for taking on a business mortgage. Using the SBA 7(a) Loan for a Bed and Breakfast New construction of a B&B facility. Refinancing a bed and breakfast . Buying an existing building.