An Overview of the Bed and Breakfast Business
If you already have a home with a bunch of empty rooms taking up space, your bed and breakfast startup costs will be relatively low.
Beyond having the proper home insurance, attaining your business license, and passing inspection, (check the laws in your local area) you probably won’t have to spend too much money beyond stocking your home with the following:
- A fully stocked home including food, snacks, and beverages.
- fresh sheets and towels.
- toiletries, such as soap and shampoo, etc.
On the other hand, if you’re looking to invest in buying a new home for your bed and breakfast, you may wind up resorting to taking out a loan or dipping into your savings.
Depending on the area and the economy (we can’t reasonably predict what the housing market will be by the time you read this), you may wind up putting a pretty heavy financial investment into your bed and breakfast. Luckily, you’re also investing in a home for yourself, which you will have to yourself when the tourism season ends.
In terms of risk involved in running a bed and breakfast, this varies quite a bit. If you’re living a big city, you can probably expect to do quite a bit of business, especially if your bed and breakfast is near; tourist attractions, bus stops, car rental services, airports, and other travel services.