Many people choose to purchase a property with the specific intention of opening a bed and breakfast, but others choose to transform their existing property into a B&B in order to open up their spare rooms to paying guests.
This can be a great business decision, particularly if you have a property in an appealing location and have the time and resources to dedicate to running the venture. But how do you go about turning your house into a property suitable for paying guests? Here are some of the most important factors to consider.
– Building work. You will probably have to hire tradesmen and builders to get your property ready for guests; for example, you may be planning to add en suite bathrooms to each of the bedrooms, or even be thinking about adding an extension so you can accommodate more guests. Depending on the amount of building work to be carried out, you may need to seek planning permission, so make sure to take this into consideration.
– Furnishings. You will need to invest in good quality furnishings for your guest rooms, reception and lounge area. Ensure that the items you buy are hardwearing enough to withstand frequent use – buying cheap low quality items will only mean you have to replace them more often.
– Health, safety, rules and regulations. Depending on the size of your property and the type of accommodation you are offering, there will be specific laws in place to ensure that the property is safe for customers. This will include issues such as fire safety and hygiene. The laws and regulations around bed and breakfasts are changing frequently, so it is important to stay up to date and do your research to make sure you are fulfilling your duties.
– Marketing. Well-designed promotional materials such as business cards and leaflets will help to create the right image for your B&B, and it’s also important to have a stylish website and active social media presence.
– Finance. You may need to obtain a loan to get started and implement the changes your property needs to become a viable business. We specialise in bed and breakfast finance, mortgages and loans and can help you to find a lender who will offer the funding you need.