How to Open a Successful B&B in the UK
While running a bed and breakfast can be a lucrative business, it will require much energy, passion and sacrifice.
After all, you’ll have to wake early every morning to cook breakfast for your customers, spend your days cleaning bedrooms, bathrooms and laundry, and welcoming the next guests into your property.
If, however, this sounds like an ideal venture for you, ensure you read the below advice on how to open a successful B&B in the UK.
Choose a Target Market
While your first inclination might be to target your B&B to every demographic, this could lead to potential issues. For example, stag and hen parties could potentially disturb couples or families staying at your B&B, which could lead to negative reviews or refund requests. Instead, you should aim to target your B&B towards a specific customer, such as older couples with no children or families.
Know Your Numbers
Carefully compare your outgoings against your revenue, which will ensure your business will provide a great return on its investment. You also must avoid being too frivolous with your offering.
For example, avoid piling food onto your customers’ breakfast plates, which can damage your profit margin and lead to excess waste. Instead, focus on investing in quality, affordable breakfast products and toiletries, which won’t significantly damage your bottom-line.
Invest in High-Quality Furniture
Cheap furniture and furnishings will not stand the test of time. As multiple guests will be walking through your doors day after day, you must invest in high-quality, durable furniture that can withstand wear and tear throughout the years.
For example, you can purchase comfortable armchairs online that cannot only complement your B&B’s interior design, but they are made from hard-wearing materials, such as leather or wicker.
Premium, durable pieces will ensure you don’t need to regularly change your furniture, which could drain your profit margin throughout the years.
Consider the Area
To ensure a B&B is full every day, you must launch a business in a sought-after area. For example, aim to open a bed and breakfast that is as close as possible to various local landmarks or attractions.
What’s more, you should attempt to provide features or services that your competitors don’t currently offer, which will encourage tourists to stay at your B&B over a rival.
Get in touch with your local Chamber of Commerce to find out more about local tourism, such as how many tourists visit a destination, the attractions they visit and whether a town/city experiences seasonal tourism.
Don’t Overlook Insurance
There are many fees you’ll need to consider when running a B&B, such as your mortgage, utilities, groceries, toiletries, cleaning expenses, staff salaries, etc.
However, you also must factor in the cost of various insurance policies you will need to ensure the safe and smooth running of your bed & breakfast. For example, you will more than likely need:
- Buildings and contents cover
- Public liability cover (insurance for guests sustaining an injury on your property)
- Employee liability
- Cancellation insurance (protects your finances if a guest suddenly cancels)
- Personal accident insurance (protect your income if you experience an accident or injury)