For many people owning their own bed and breakfast is a lifelong obsession, but few people consider how tricky it can be picking the right type of property for the job. The very best property for your B&B needs is likely to be one that is in the right location, at the right price and also one that meets all of your desired business criteria and needs. Here are our top tips when it comes to finding the perfect property to fulfil your dreams and open up your very own B&B:
Chat With An Estate Agent
In order for you to make the very best informed decision that you can about your future B&B property, it is important to find out all the information you can about the area you hope to set it up in and the way that the market operates. Many estate agents offer specialist help in finding B&B properties for their clients, for example Fenn Wright estate agents in Sudbury. Be sure to ask all the relevant questions so that you know exactly what you are heading into.
Consider The Property Size
It can be all too easy to get caught up in the moment and forget that the property you are looking at is actually going to act as both a home and a business, so it is very important that you find a property that is comfortable for both yourself and your family as well as offering adequate room for guests. Ask yourself how many bedrooms and bathrooms you will need and where you will eat meals etc.
Something to enquire about when looking for a property that you hope to use as a future business is whether the property is laid out in a way that it can be used for the purpose it is intended for. Zoning is something that varies depending on your location, it covers anything that relates to the way that land is used. Here are some examples zoning types to be aware of; commercial, residential, home based and seasonal usage. Zoning is also important as it can impact on the tax rate of your property too.
Depending on where you hope to set up your business, it is important to check if there are any legal matters to take into consideration. This can include permits, registrations, training and certification and inspections. Speaking to local bed and breakfast owners will really help to make sense of the local legalities and will help to find out what it is like working in the area.
Scout Out The Area
The UK has one of the largest tourist industries in the world and employs over 1.4 million people in 180,000 businesses. It is safe to say that there is plenty of opportunity to become successful in this field, but this also comes with added competition. The very best B&B’s offer everything that a tourist may need which is why it is important to check out the area you hope to build your business in first and establish who your competition is. Similarly, setting up a B&B in a remote area can offer both fantastic benefits for those looking to explore further afield but can also limit your chances of attracting people to stay. Consider each of these situations in order to make the most of the opportunity.
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