If you have ever considered the possibility of opening your own bed and breakfast, then the chances are you were filled with excitement. Whether you’re attracted to the idea of working from home or earning an additional revenue stream, bed and breakfasts can be a sensible career move when they are organised and executed correctly. Below, we’ve put together four reasons why you should consider entering the profession.
Delivers a reliable income
When it comes to bed and breakfasts, finances can be a challenge. Bed and breakfast owners need to consider mortgage payments, expenses and repairs, but once the basics have been covered, a bed and breakfast can deliver an effective and reliable source of income. From repeat customers to high season occupancy rates, you can be sure to enjoy an income throughout the year. For the best chances of success, open your bed and breakfast in a desirable location without competition.
Because your home also doubles as your business premises, you can minimise your costs and even claim back tax using simplified expenses.
Easy to manage
For many, the thought of managing a B&B can be daunting. As well as launching a website and managing bookings online, you have to liaise with booking and review websites to ensure that you are seen by search engines. On top of all of this, you then need to market your business and keep a record of your finances. However, as technology continues to develop, services like Eviivo have been released, allowing you to manage your online bookings and increase occupancy rates.
Work from home
One in seven people in the UK now work from home, and the benefits speak for themselves. As well as avoiding the daily commute to work, you can save money on unnecessary expenses, spend more time with your family and be closer to local amenities. For B&B owners, the unconventional nature of the job makes working from home more comfortable. You’ll be able to retreat to your private quarters whenever you want to, and you won’t need to worry about the morning rush hour!
Running a bed and breakfast can deliver the flexibility you crave. Not only does running your own business give you more freedom over your working schedule, but it allows you to run things in a way that bests suits your lifestyle and your family. If for example, you want to take a week off to take a holiday of your own, you can close your bed and breakfast or get a family member to take over the reins. What’s more, you are in control of your finances – you may decide to save, reinvest in your property or even splash out on a new car or a holiday… the choice is yours.
The benefits of running your own bed and breakfast speak for themselves. If you are looking for more freedom, more control over your finances and a more relaxed way of life, the profession is certainly one that you should take into consideration.