The B&B business plan, much like a business plan for a hotel, a mountain cabin rental agency, or a beachfront resort, needs to make a solid case for a high enough level of occupancy to cash flow the investment or loan you're seeking and return a tidy profit to the owners/operators and any investing parties. Starting with an assumptions table is the surest bet. What rate would your B&B need to command and how many nights per week and weekends per year would you need to have it booked out? The income from rentals (and any ancillary services or products) has to exceed your OpEx sufficiently to keep your business profitable and attractive to backers. Address all the following topics in your B&B business plan:
• Who is your target market?
• What is your direct competition? How about indirect?
• How many rooms will the B&B have and what's the top occupancy?
• Will you need to do renovations before opening?
• Will the owner(s) be on-site at all times?
The bed and breakfast industry is highly impacted by greater economic indicators, just like air travel and discretionary leisure spending nationwide. To that end, it is important that you gather together some industry data that can help support your market assumptions. Whether you cater to travelers or to locals, you'll want to combine Census Bureau data with industry information/reports from the Internet to make the case that you'll be fully subscribed right after start-up. Add to this a cogent marketing section and a biography on you and your key employees, and you'll have a funding-ready business plan. Need more help than the resources you're finding online? The business plan writers at MasterPlans can create the B&B business plan for you in as little as 5-7 business days. Call today for more information: (877) 453-2011.
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