A bed and Breakfast is a hybrid between a luxury hotel and a personal home. It encompasses the best features of both these worlds. A B&B is in general consists of four to 10 guest rooms. The owners of the house live on-site and communicate with travellers like his invited guests unlike to that in hotel. Also, guests are treated with warmth and affection like chocolates on their pillows, baskets of bath and beauty products on Jacuzzi tubs and others. The revenues generated from a B&B depend on the number of guest rooms, the seasonal nature of your location, your experience and your creativity in promoting your business.
With more number of guest room, you can generate more income. However, it also means more maintenance and added expenditure. Also, the occupancy of guest room is not smooth throughout the year. It is at its peak during holidays and other seasonal tourism. On other days, they may be empty. The typical market comprises of tourists which are quintessential vacationers and in case you live nearby any natural or man-made attraction that attracts tourists then you have a great market.
It market includes Business travellers, Romantic couples, College or university students during the Football games, homecomings, graduations, conferences and other academic or public events.
The rates of your room rates depend on various factors. One such factor is the facilities offered by you. You can offer luxury features such as whirlpool tubs, fireplaces, private balconies, king-size beds or more common features such as swimming pool. Another factor includes your location and you will get more income in the popular places as compared to others. You should charge only the rates that are in line with other B&Bs and lodgings in your area.
You can also decide to hire employees for your B&B business if you find it tiresome to manage all the guest rooms by yourself.
