Bed and Breakfast Inns

Probably not too surprising that the question I am asked most often by prospective B & B owners is "Can I make a living running a B & B? "Unfortunately there is no simple yes or no answer to this question.

So my answer is always – it depends on:

How much money needs to live

As a happy person can survive a few hundred pounds a month, someone may have difficulty to survive in a few thousand. So first you need to work out exactly how much money you need to live comfortably.

What Your costs initials are

Creating a B & B will involve some cost. These costs will depend on whether you are configuring in your current home, buying a another place to establish itself as a B & B or buying an existing business.

If you are setting up from scratch you may need to install the bathroom, buy new furniture, installing fire safety measures, decorating, the commission of a website, buy clothes, etc.

Note that even if you are buying an existing business may well need to spend some money to make improvements. With recent changes in the UK with regard to safety legislation against Fires and quality standards that it can make a big hole in the budget. So do your homework carefully.

Whatever your current costs will

One of the advantages of running a B & B is that you can claim a share of the cost of running your home more money that wins. As effectively can reduce your tax bill.

However, with more people in your house with lights, over heating, water etc. bills also increase utilities. So you will be taken into account in its cost projections. Again, it is impossible to say how much it will cost extra. Depends on the size of your home and how energy efficient they are. A good reason to go green!

Your cost also depend on the type of B & B is run. If offers a basic continental breakfast costs will be lower than someone who is offering a 5 star menu, such as smoked salmon kedgeree Luxury and cereals.

Implementation of a higher level of B & B can also incur more money to maintain the required standard and that offer better quality (and expensive) extras.

Remember to allow the cost of replacing items as they wear out or break, such as towels, sheets, dishes and even carpets over time.

Other costs include ongoing website maintenance, insurance, marketing, advertising, etc.

How much money is more likely to make your B & B

The amount of money you actually receive from customers is once more dependent on a lot of different variables. A 5 star B & B next to the main theater of RSC in Stratford is likely to have much more money throughout the year of a 3 star B & B in the middle of the field in an area that nobody knows. So we must take into account the location, quality, facilities, competition, pricing, taxes, target market and more.

As you can see if you run a B & B is a money-making serious risk to you, instead of choosing just a lifestyle, it's really essential that you do his task to see if your business is going to make the income you need. And if it's just a lifestyle thing can still incurring considerable costs. Make financial projections and see if it really is worth it.

Karen Thorne runs the award winning Hopton House Bed and Breakfast in the beautiful South Shropshire countryside. http://www.shropshirebreakfast.co.uk

If you’re looking to run your own bed and breakfast in the UK, then save yourself time, effort and money by checking out our training courses and free resources at http://www.bedandbreakfastacademy.co.uk Everything you need to know to Set Up, Run and Market your own successful B&B business.

Austyn King – Breakfast In Bed//Until The End Of Time.MOV