Thursday, July 23, 2009

Bed And Breakfasts: Factors To Consider Before Buying One

By Pamella Neely

Many people dream of owning a bed and breakfast. In fact, the number of these establishments in America has doubled in the past several years. Have you ever wondered if you have what it takes to operate one of your own?

You need to ask some tough questions, and give honest answers to determine if owning a bed and breakfast would bring you bliss or heartache. Do you take pleasure in getting up early and making breakfast? Breakfast is an important component of the whole experience for guests.

Do you like chatting with strangers? Socializing with your guests is an important part of owning a bed and breakfast, so be prepared for it. Are you the type who cannot wait for your guests to leave, or do you prefer to have people around? Successful bed and breakfasts have guests the majority of the time, so you will need to enjoy having people around constantly.

Are you a self-motivated person, or do you need someone to get you started? There will not be anyone to tell you what to do, or what needs to be prepared, washed, repaired, or cleaned. In owning a bed and breakfast, you will be your own boss.

Are you a neat person, or is your house always in a state of disorder? Keep in mind that your home will be available to guests all the time. These people will not appreciate seeing mess or clutter around the house.

Do you have a knack for numbers? Running a bed and breakfast is a business. Having a business plan and good bookkeeping skills are necessary for tax purposes, as well as maintaining records for a successful business.

Do you mind working long hours with lots of interruptions? Guests tend to get up early so that they can pursue different activities, and they also go to bed late. You will be responsible for performing many tasks behind-the-scenes when your guests are sleeping or otherwise occupied.

Can you pay your bills if you have no guests booked? Reservations can be random. If you need the income to live on, a bed and breakfast may not be a practical option. Things will be much better for you if you have an emergency reserve of cash for times when your business is slow.

If you can answer these questions honestly, they will provide you with an understanding as to whether a bed and breakfast would be something you would enjoy running. It is easy to get caught up in the fantasy of such an undertaking. The truth behind the fantasy is that it is a lot of work. If you enjoy this kind of work, then you just might have a future bed and breakfast to start!

About the Author: