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Three Important Questions Before Starting A Bed And Breakfast

For many, owning a Bed and Breakfast is an amazing entrepreneurial dream, an opportunity to truly mix business and pleasure, and a chance to own a dream home that you may otherwise not be able to afford. A Bed and Breakfast is a boutique hotel experience with a high degree of personalization – both parts that you will be 100% in charge of creating. This is a thrilling prospect – a chance to show your management skills, your hospitality skills, and your management skills (financial and otherwise.) It’s also an opportunity to display any personal talents you have that would make your business stand out. Do you have a green thumb and can grow magnificent flowers gardens for guests to walk in and explore? Are you a talented pastry maker the will wow your guests at breakfast? You don’t need to be all these things, but you need to understand there are expectations that come with Bed and Breakfasts, and guests who stay there expect a certain level of personalization and expertise in hospitality.

Three Important Questions Before Starting A Bed And Breakfast

  • How do you really feel about sharing your home with guests?
  • Are you a micromanager, or are you able to delegate?
  • Are you prepared to be “at work” nearly 100% of the time?

If you are an extrovert who thrives on being around others, getting to know others on a personal level, and are open to people from all walks of life, this may be the dream job you think it is. It will certainly afford you the opportunity to meet many people and exchange stories and information about your area, while they share information about theirs. This is a definite perk for the social extrovert who is exhilarated by being with people. If, on the other hand, you are a quiet introvert that requires a lot of personal space and time, this business may be a bit more challenging – though certainly not impossible, particularly If it’s family-run and/or you hire others to do most of the socializing and service work. You will still have to be able to be at peace with the fact that there are others in your home nearly all the time, unless you live in a guest house, which some people do, and it works! Nothing is impossible, but it’s important to think about this and be honest with yourself before moving forward.

Although it would be wonderful to be all things to all people all the time, sometimes it is simply not possible. Particularly during times of heavy tourism, during holidays, and other peak times, you may find it not practical to be able to do all things for your guests and do them well. That’s where others come in – either family in a family business, or hired help. However, you need to remember that no matter how explicit you are with your instructions on how things are run, others have their own style. Hospitality is not just a business, it is an art. So while it’s possible to set a strict schedule (breakfast at 8 on the garden parch, evening tea at 7 in the parlor) it’s vital you understand these tasks, if given to others, may not be carried out exactly the way you would personally do them. If you develop a strong and trustworthy staff, many people find themselves relaxing and allowing their employees to do their own thing, as long as the guests are satisfied. Some individuals, however, cannot resist checking to make sure everything is done exactly as they would do it. This is not a bad trait, but it is what it is – and it is bound to cause some issues, for you personally and for your employees. Be honest with yourself about how you feel about delegation.

Obviously, nobody can work 100% of the time, but this is an endeavor that requires 100% responsibility, 100% of the time, if you own the business and it is also your home. Even if you’re hallway around the globe on vacation, if a guest trips and falls in the garden, ultimately you need to be aware and take proactive measures to ensure the safety of the guest and  of your business. If there’s a complaint or a maintenance issue at 3 am, you may need to be made aware. Many people thrive on this and that makes them wonderful Bed and Breakfast owners. For others, this could cause burn-out very early in the game. How much complete down time do you really need as an individual to recharge? There are no right or wrong answers, but it’s prudent and necessary to do a thorough self-inventory before you begin the task of taking on your dream business.

 

 

 

 

 

 

 

 

 

 

 

 

In the meantime, check out these 1-click searches:

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Newest Key West Commercial Properties on the Market

Terrific investment opportunity! Commercial building with three ample leasable spaces and great visibility on US1. Building is in excellent condition with marquee signage with upgraded electrical and 120 feet of frontage. Units are individually metered and can function well for retail, office or food & beverage businesses. Ample parking in front, along the side and in the rear of the building.  Opportunity for expansion behind the building as well. $729,000 Active

30971 Avenue A Big Pine, Florida

3 Baths 2,271 SqFt

Listed $50,000 under appraised value. Rare opportunity to purchase the Historic 7 Mile Marina less than a mile from 7 Mile Bridge with over 360ft of US-1 frontage! Commercial property consists of protected marina, 3,600 sqft building. Marathon approved transferable building rights allowing 9,332 of commercial floor area, two tax keys totaling +/- 54,768 sqft or 1.25 acres. Property being sold ''AS IS'' no warranties or representations and no leases. Includes a deed restriction for neighboring property not to store straps within 75 ft of NE property line. Prior to 2014 fire, property had a 150 seat restaurant and office. $3,150,000 Active

1090 Overseas Highway MARATHON, Florida

2 Baths

Here is your chance to own a turnkey restaurant property in paradise! Recently updated and renovated, this restaurant property is a staple to the local community.PRIME US1 FRONTAGE, Average daily traffic is over 16,000! Total of 168 seats, qualifies for SRX license, and offers tons of parking on the 20,000sqft lot. This property is ready to go, don't miss this opportunity! $995,000 Active

31044 Avenue B Big Pine, Florida

3,252 SqFt

$15,000 startup grant available to an energetic formally trained chef with innovative ideas & ready for their big break to start their own restaurant.  Key West restaurant/bar location lease for only $5000 mo!  There's an amazing concentration of residential addresses nearby, with several larger ocean front condominium complexes & hotels just a few blocks away, for a lucrative takeout business or to fill your seats. You can't beat the price when comparing to other Key West properties that offer a restaurant/bar opportunity. With a 2600+ sq. ft. building, the location offers high visibility in the cross town area of Key West zoned for a 79 seat restaurant/bar with beer & wine sales. Huge kitchen & prep area, walk in cooler & freezer, large storage room/office/casual area & 3 restrooms. Property must operate as a restaurant with a beer and wine license. Triple net lease with F/L/S. Tenant to verify all information. 
 
To participate in the grant, proof formal culinary arts training and Key West residency (minimum of 2 years) absolutely required.  Grant is for rent payment for the first 3 months rent. 
 
A member of the LLC is a licensed Florida real estate agent. 
$5,000 Active

1500 Bertha Street KEY WEST, Florida

3 Baths 2,646 SqFt

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Posted in: Bed & Breakfasts, Business Solutions, Buyers, Buying Commercial Real Estate Tagged: Becoming a Bed and Breakfast Owner, Bed and Breakfasts, buiness extroverts, businees introverts, business delegation, Traits of bed and breakfast owners

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