Even as the hospitality industry suffered considerable losses during the pandemic, some entrepreneurs may want to enter the industry with the hope that the industry will recover soon. The recovery may happen soon as the authorities already administered more than 230 million doses of the vaccine.
Before the pandemic, bed and breakfast inns had an average annual revenue of more than $1 billion. Taking these figures into account shows that the industry has a lot of potential for people who want to enter the hospitality industry. So, here are the steps an entrepreneur can take if he’s planning to open a bed and breakfast.
Check the Market
The first thing the entrepreneur should do is to check the market. Checking the market means looking for any tourist attractions in the area that can bring in tourists and travelers. He should make sure the market can support the business.
The entrepreneur should also check if there are any lodging options in the area. If there are hotels, he can check their rates so he can promote the bed and breakfast as a cheaper option to these hotels. But the entrepreneur should open a bed and breakfast in a place that has little competition. If the area has a hotel, the entrepreneur can offer a cheaper option for tourists.
Opening a bed and breakfast in an area that already has a similar establishment will make it challenging to earn a profit, especially if the competition is already well-established.
Find a Good Location
If the entrepreneur has decided on the area where he wants to open the bed and breakfast, he should look for a specific location for the establishment. It’s best if he can secure a location that’s safe and secure for the customers of the establishment.
The entrepreneur should also check the monthly rent of the place. If he can purchase the property, it will remove the need to pay monthly rent. But before finalizing the sale, he should check the local zoning board to see if the place he’s planning to acquire is in a commercial zone. This is particularly true if the entrepreneur is eyeing a house on a good-sized land for the bed and breakfast.
Get the Necessary Permits
After setting up the location or purchasing the property, the entrepreneur should get the necessary permits and licenses to operate the bed and breakfast. This means a visit to the website of the local government and getting the requirements for the license.
The entrepreneur should remember that the requirements for the license can differ from one city to another. So, it’s best to visit the local government and check the requirements for a general business license, a food service permit, and other permits the bed and breakfast will require.
Decorate the Place
The entrepreneur should decorate the place to give it the personality he wants. He can focus on giving his customers a unique experience that they cannot get from a hotel. The décor should cover the entire place. This means the entrepreneur should extend to all the rooms ad common areas of the bed and breakfast.
Choosing a theme allows the establishment to stand out in the market. The entrepreneur can also use the theme in promoting the place. If the entrepreneur purchased a house, he would have a lot more freedom in renovating the place to give it the personality he wants.
While the entrepreneur may want to give the bed and breakfast a unique personality, he should make sure to make it pleasing unless he wants to target a specific niche in the market. The bed and breakfast should have an aesthetically pleasing design so it can attract customers.
Create a To-Do List
After fixing the physical features of the bed and breakfast, the entrepreneur can create a to-do list that covers all the things to be done each day. This list serves as a reminder for the employees of the bed and breakfast.
The list should have detailed instructions on the things the employees have to do each day. It can include the tasks required before breakfast, cleaning of the rooms, checking the common areas, and cleaning of the rooms, among others.
Prepare the Finances
The entrepreneur should also check the finances set aside for the bed and breakfast. He should make sure the establishment has enough funds to allow it to operate for a couple of months since it will not likely have any customers when it opens. The fund should cover the operating expenses, including rent, salaries, and maintenance of the establishment.
Opening a bed and breakfast may be challenging in the middle of a pandemic. But it may pay off once the pandemic ends and people start to travel again.