business plan of bed and breakfast

Bed and Breakfast Business Plan Template

Written by Dave Lavinsky

Bed and Breakfast Business Plan

You’ve come to the right place to create your Bed and Breakfast business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Bed and Breakfast companies.

Below is a template to help you create each section of your Bed and Breakfast business plan.

Executive Summary

Business overview.

Walton House is a new bed and breakfast business located just outside of Omaha, Nebraska. It is a charming two-story rustic farmhouse that contains several rooms for guests to enjoy. Every room is decorated with pictures, adornments, and knick-knacks that transport guests to a simpler, more rustic time. The bed and breakfast will offer daily housekeeping, high-speed wifi, cable, and complimentary breakfast every morning.

Walton House is run and owned by Mary Walton. She inherited the house from her grandparents and decided to renovate it and run it as a bed and breakfast. Though Mary has never run a bed and breakfast before, she holds an MBA and has worked in upper management of several other small businesses. Therefore, she has an in-depth knowledge of the operations, marketing, and management sides of running a business.

Walton House will offer all of the standard bed and breakfast services, including daily room cleaning, cable TV, a free wireless network, and various other amenities. Additionally, the bed and breakfast will include complimentary breakfast every morning as well as free snacks all day long in the common areas.

Customer Focus

Walton House will primarily serve leisure travelers who seek comfort, basic amenities, and simplicity of services. We will target both Omaha residents who need a short getaway and travelers who are coming to Omaha for a short stay.

Management Team

Walton House is run and owned by Mary Walton. Before Mary took ownership of the house, it belonged to her grandparents and was transferred down through generations. Due to its rustic charm, Mary realized the house offered a great atmosphere that guests loved. Therefore, she decided to renovate the home and turn it into a bed and breakfast.

Though Mary has never run a bed and breakfast before, she holds an MBA and has worked in upper management of several other small businesses. Therefore, she has an in-depth knowledge of the operations, marketing, and management sides of running a business.

Success Factors

Walton House will be able to achieve success by offering the following competitive advantages:

• Location: Walton House’s location on the outskirts of Omaha adds to the rustic, rural feel that guests will enjoy. However, the city is still close enough to easily access the airport, tourist attractions, downtown, shopping, and restaurants.
• Business Amenities: Wi-fi throughout the bed and breakfast will make working remotely simple for business visitors.
• Management: Our management team has years of business and marketing experience that allows us to market and serve customers in the same manner as our most sophisticated competitors.
• Relationships: Having visited the community for a number of years, Mary Walton knows many of the local leaders, newspapers, and other influencers. As such, it will be relatively easy for us to build the brand and awareness of the bed and breakfast.

Financial Highlights

Walton House is seeking $300,000 in debt financing to launch the bed and breakfast. The funding will primarily be used to pay for renovations. Funding will also be dedicated toward three months of overhead costs, including payroll and utilities. The breakout of the funding is below:

• Renovations: $150,000
• Three months of overhead expenses (payroll, utilities): $50,000
• Marketing costs: $50,000
• Working capital: $50,000

The following graph below outlines the pro forma financial projections for Walton House.

Company Overview

Who is walton house, walton house history.

Mary Walton incorporated Walton House as an S-Corporation on November, 202X. The bed and breakfast development operations are currently being run out of Mary Walton’s home office. Once the renovations are finished, all operations will run from Walton House.

Since incorporation, the company has achieved the following milestones:

• Developed the company’s name, logo, and website
• Found contractors to help renovate the home
• Taking bids from construction crews and electrical engineering firms
• Determined equipment leasing and financing requirements
• Began recruiting key employees with customer service or bed and breakfast experience

Walton House Services

Industry analysis.

The bed and breakfast industry has grown substantially over the past decade and is expected to continue that growth over the next several years.

This growth is due to several factors. First of all, when cities are flooded with tourists for special events, hotels often can’t keep up with demand. When hotels are out of rooms, travelers have to look elsewhere, with many heading to bed and breakfasts. Bed and breakfasts are a great option when hotels cannot accommodate an influx of tourists.

Secondly, hotels, Airbnbs, and other accommodations are becoming increasingly expensive, which prices out most travelers. Most travelers expect extra services if they are forced to pay higher prices, but this is a rare occurrence in hotels. Bed and breakfasts are moderately priced and offer more services and atmosphere than most hotels can provide.

Finally, many travelers don’t want to sit in a bland hotel room throughout their stay. They want an accommodation with more atmosphere, personality, and charm. Very few hotels offer this. However, this is exactly what makes bed and breakfasts unique. Every bed and breakfast location offers a unique charm and atmosphere that makes it a more enjoyable and personable experience for guests.

All of these factors have helped the bed and breakfast industry boom. With hotel and Airbnb prices continuing to rise and travelers wanting a more enjoyable and unique experience, bed and breakfasts will only continue to increase in demand.

Customer Analysis

Demographic profile of target market.

Walton House will primarily serve leisure travelers who seek comfort, necessary amenities, and simplicity of services. We will target both Omaha residents who need a short getaway and travelers from other locations that are coming to Omaha for a short stay.

In general, the market for the bed and breakfast segment tends to be relatively affluent and well-educated. The single largest segment which uses bed and breakfasts are guests on vacations/pleasure trips. These tend to be short weekend breaks to relieve work-related stress. Special events, such as weddings, are important revenue drivers. Therefore, we expect many of our customers to be travelers who are on vacation or coming to Omaha for a special event.

Customer Segmentation

We will primarily target the following three market segments:

• Locals looking for a simple getaway
• Leisure travelers
• Business travelers

Competitive Analysis

Direct and indirect competitors.

Walton House will face competition from other companies with similar business profiles. A description of each competitor company is below.

The Omaha Concourse Bed and Breakfast

The Omaha Concourse Bed and Breakfast is Omaha’s leading bed and breakfast and has been in business for 20 years. The bed and breakfast offers a wide array of services and amenities that you typically find at a bed and breakfast.

The Omaha Concourse also offers luxury amenities, many of which are not necessary for travelers, and charges a high price for those amenities ($200-300 per night). Additionally, this bed and breakfast does not offer wireless internet in sleeping rooms.

The Edgewater Bed and Breakfast

The Edgewater Bed and Breakfast has been in business for 15 years. The Edgewater Bed and Breakfast offers a variety of services and amenities, all typical of the bed and breakfast and hospitality industry. However, Edgewater is highly priced due to its waterfront location. Furthermore, Edgewater’s rooms are aging and in desperate need of renovation.

Doubletree Bed and Breakfast Omaha

Doubletree Bed and Breakfast Omaha has been in business for the past ten years and is part of the Hilton family of bed and breakfasts. This allows it to use centralized booking with Hilton and the Hilton loyalty points system. However, the Doubletree is not located in a convenient location, nor does it have nearly as many amenities and services as Walton House. Travelers will get more atmosphere and bang for their buck when they book with us.

Competitive Advantage

Walton House enjoys several advantages over its competitors. These advantages include:

Marketing Plan

Brand & value proposition.

The Walton House brand will focus on the company’s unique value proposition:

• Offering rooms suited for families and business travelers and services
• Providing a historic and rustic charm
• Offering an enchanting location on the outskirts of Omaha
• Providing excellent customer service

Promotions Strategy

The promotions strategy for Walton House is as follows:

Social Media

The Walton House will have Instagram, Twitter, and Facebook business profiles where Mary will post frequently about the bed and breakfast. The posts will have pictures of the house and provide information on upcoming special events nearby. The posts will be appealing with professional photographs and will engage customers with discount opportunities and special promotions.

Website & SEO Marketing

Mary will utilize the website and SEO to attract new customers. The website will be easy to navigate and provide all the information and pictures needed to show the house’s charm. The SEO strategy will also be managed to ensure that anyone searching “bed and breakfast near me” or “bed and breakfast Omaha” will see Walton House listed at the top of the Bing or Google search engine.

Advertising

Walton House will initially advertise on travel websites, which are frequently being used these days to book travel due to their ease of use and reviews. These travel websites may offer slight discounts or promotions to further incentivize travelers to book with Walton House.

Pre-Opening Events

Before opening the bed and breakfast, Walton House will organize pre-opening events designed for prospective national customers, local customers, and press contacts. These events will create buzz and awareness for Walton House in the area.

Walton House’s pricing will fluctuate based on the season and occupancy percentages using a computerized yield management system. However, pricing will always place the Walton House in the mid-range, below luxury offerings, and above bed and breakfasts and motels in the area. Customers will feel they receive great value when patronizing our bed and breakfast.

Operations Plan

Operation Functions:

The following will be the operations plan for Walton House.

• Mary will be the Owner of Walton House. She will be in charge of much of the operations and management aspects of the business.
• Mary is assisted by her cousin, Christine Walton. Christine has a background as a marketing manager, so she will be in charge of all the marketing efforts.
• Mary will also hire a small crew to help with cooking and cleaning the rooms every day.

Milestones:

Walton House expects to achieve the following milestones in the following six months:

11/202X          Hire contractors and start renovations

12/202X          Finish renovations

1/202X            Kickoff promotional campaign

2/202X            Hire and train initial staff

3/202X            Open Walton House

4/202X            Reach break-even

Financial Plan

Key revenue & costs.

The key revenue of Walton House will come from charging nightly rates for each guest that stays with us.

The major costs for the company will be the salaries of the staff and the cost of maintaining the bed and breakfast. In its initial years, the company’s marketing spending will be high as it establishes itself in the market.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of guests per month: 20
• Annual overhead costs: $20,000
• Average nightly rate: $100

Financial Projections

Income statement, balance sheet, cash flow statement, bed and breakfast business plan faqs, what is a bed and breakfast business plan.

A bed and breakfast business plan is a plan to start and/or grow your bed and breakfast business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Bed and Breakfast business plan using our Bed and Breakfast Business Plan Template here .

What are the Main Types of Bed and Breakfast Businesses?

There are a number of different kinds of bed and breakfast businesses , some examples include: Home Stay, B&B, Country Inn, or Cottage.

How Do You Get Funding for Your Bed and Breakfast Business Plan?

Bed and Breakfast businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

This is true for opening a bed and breakfast business plan or a plan to grow an existing bed and breakfast.

What are the Steps To Start a Bed and Breakfast Business?

Starting a bed and breakfast business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Bed and Breakfast Business Plan - The first step in starting a business is to create a detailed b&b business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your bed and breakfast business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your bed and breakfast business is in compliance with local laws.

3. Register Your Bed and Breakfast Business - Once you have chosen a legal structure, the next step is to register your bed and breakfast business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your bed and breakfast business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Bed and Breakfast Equipment & Supplies - In order to start your bed and breakfast business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your bed and breakfast business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Learn more about how to start a successful bed and breakfast business:

• How to Start a Bed and Breakfast Business

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Bed & Breakfast

Back to All Business Ideas

How to Start a Bed & Breakfast

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on December 21, 2021 Updated on May 24, 2024

Investment range

$75,000 - $300,000

Revenue potential

$150,000 - $230,000 p.a.

Time to build

Profit potential

$110,000 - $160,000 p.a.

Industry trend

Despite the rise of home rental apps like Airbnb, traditional bed and breakfasts, or B&Bs, remain a popular choice for romantic getaways and weekend vacations. If you like hosting guests and live in an appealing area, starting a bed and breakfast could be a great way to make a living or add another income stream, while giving people memories they’ll never forget!

Starting a bed and breakfast will have challenges, so it’s wise to understand what’s involved before you jump in. Fortunately, you’ve come to the right place: this step-by-step guide is full of insights that will help you develop and launch your own B&B and put you on the road to entrepreneurial success.

Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.

Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .

Step 1: Decide if the Business Is Right for You

Pros and cons.

Starting a bed and breakfast has pros and cons that you should consider before deciding if the business is right for you.

• Express yourself — Design your B&B however you like
• Good money — Profit margins tend to be high
• Fun! — Everyday is a holiday for your guests
• Startup costs — The property and renovations could be costly
• Crowded home — Very little alone time if you live in your B&B

Bed & Breakfast Industry Trends

A major trend today is the rise of the multi-billion-dollar homestay lodgings market, led by Airbnb and VRBO. Learn more about this booming industry in this article on starting an Airbnb . It’s probably a good idea to list your B&B on those sites, as well as on your own website, to boost awareness, customer reviews, and occupancy rates.

Industry Size and Growth

The bed & breakfast and hostel accommodations industry in the US is well on the way to a rebound after the pandemic dip of 2020.

• Industry size and past growth — The market was valued at $3 billion as of 2024, which is a 3.1% growth in comparison to the year before.(( https://www.ibisworld.com/united-states/market-research-reports/bed-breakfast-hostel-accommodations-industry/ )) In the period from 2018 to 2023, the market has increased by about 2.5% per year.(( https://www.ibisworld.com/industry-statistics/market-size/bed-breakfast-hostel-accommodations-united-states/ ))
• Growth forecast — The market is expected to grow by approximately 2.7% through 2028, reaching $3.5 billion.(( https://www.ibisworld.com/united-states/market-research-reports/bed-breakfast-hostel-accommodations-industry/ )) 
• Number of businesses — There were around 4,300 B&B and hostel establishments in the US in 2023.(( https://www.ibisworld.com/industry-statistics/number-of-businesses/bed-breakfast-hostel-accommodations-united-states/ ))
• Number of people employed — As of 2023, 18,804 people were employed in the B&B and hostel accommodations industry.(( https://www.ibisworld.com/industry-statistics/employment/bed-breakfast-hostel-accommodations-united-states/ )) 

Trends and Challenges

• Live entertainment, top-notch dining, or close proximity to local attractions
• Safety precautions, including online check-in and disinfectant cleaning, which are important even after the pandemic
• Workspaces for remote workers
• Data security
• Competition from Airbnb and VRBO

Consumer Spending

• Average consumer spend — The average American household planned to spend more than $2,800, for a summer vacation in 2023, according to the Vacation Confidence Index 2023 of Allianz Travel.(( https://www.allianztravelinsurance.com/travel/vacation-confidence-index/2023-vacation-confidence-index-summer-record-spending.htm ))
• Potential customer base — In July 2023, almost 80% of American adults planned to travel domestically in the next year.(( https://www.statista.com/topics/2092/domestic-tourism-in-the-us/#topicOverview ))
• Average prices — The average B&B room for a solo traveler costs from $60 to $90 per night, while families usually spend from $130 to $180 per night.(( https://trvlguides.com/articles/bed-and-breakfast-cost-comparison ))

What Kind of People Work in the Bed & Breakfast Industry?

• Gender — 26% of innkeepers in the US are female and 74% are male.(( https://www.zippia.com/innkeeper-jobs/demographics/ ))
• Average level of education — 51% of innkeepers hold a bachelor’s degree.(( https://www.zippia.com/innkeeper-jobs/education/ ))  
• Average age — The average age of an innkeeper is 46.4.(( https://www.zippia.com/innkeeper-jobs/demographics/#age-statistics ))

How Much Does It Cost to Start a Bed and Breakfast Business?

Starting a B&B costs anywhere from $75,000 to $300,000 or more. The largest expenses are a down payment on the house, renovations, furniture, and décor. A home in a good location with enough space and bedrooms is going to be pricey. It may not need renovations and could even come fully furnished, but you should expect a down payment of at least $50,000.

How Much Can You Earn From a Bed and Breakfast Business?

Let’s say an average B&B room costs $170 per night, and you should be able to achieve a profit margin of about 70%.

If you have five rooms and average 50% occupancy your first year, you’d bring in over $150,000 in annual revenue. This would mean almost $110,000 in profit, assuming that 70% margin. As your brand gains recognition, you could increase occupancy to 75%. With an expected annual revenue of over $230,000, you’d make over $160,000.

What Barriers to Entry Are There?

There are a few barriers to entry for a bed and breakfast. Your biggest challenges will be:

• A down payment on a large home in a good location will be $$$
• You’ll likely need to uproot your life and move to a new area

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Step 2: hone your idea.

Now that you know what’s involved in starting a bed and breakfast, it’s a good idea to hone your concept in preparation to enter a competitive market.

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an Opportunity

Research bed and breakfasts in the area to examine their services, price points, and customer reviews. You’ll want to come up with a concept that will be in demand, but you also should look for a good location with a few B&B options.

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as a B&B for romantic getaways, or a B&B for older couples.

This could jumpstart your word-of-mouth marketing and attract clients right away.

What? Creating a Charming and Welcoming Bed & Breakfast

In addition to a room and breakfast, you could offer:

• Three homemade, locally sourced meals every day
• Entertainment , such as live local music acts
• Transport to local attractions

How Much Should You Charge for a Bed and Breakfast?

Prices for bed and breakfasts for a family range from $130 to $180 per night. Your main expenses will be your mortgage, taxes, food, and cleaning supplies. Your labor costs will be minimal if you do the work yourself or have family members help you.

Once you know your costs, use our profit margin calculator to determine your price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify Your Target Market

Your target market is probably going to be more established people with higher incomes. You’re most likely to find these people on Facebook or LinkedIn.

Where? Choose Your Bed & Breakfast Location

Selecting the right location is vital for the success of your bed and breakfast. Look for a charming and desirable area that attracts tourists or business travelers, such as a popular vacation destination, scenic countryside, or a bustling city center.

Consider proximity to attractions, amenities, and transportation hubs to ensure convenience for your guests. Additionally, assess the competition in the area and aim to offer a unique experience or cater to a specific niche market.

By strategically choosing a location, you can create a welcoming and memorable bed & breakfast that appeals to travelers and sets you apart from the competition.

You can find a house or building to rent in your area on sites such as Craigslist and Crexi .

Step 3: Brainstorm a Bed & Breakfast Business Name

Here are some ideas for brainstorming your business name:

• Short, unique, and catchy names tend to stand out
• Names that are easy to say and spell tend to do better
• The name should be relevant to your product or service offerings
• Ask around — family, friends, colleagues, social media — for suggestions
• Including keywords, such as “bed and breakfast” or “B&B,” boosts SEO
• Choose a name that allows for expansion: “Tranquil Retreat B&B” over “Beachside B&B”
• A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Discover over 250 unique Bed & Breakfast name ideas here . If you want your business name to include specific keywords, you can also use our Bed & Breakfast name generator. Just type in a few keywords, hit Generate, and you’ll have dozens of suggestions at your fingertips.

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. However, once you start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Bed & Breakfast Business Plan

Here are the key components of a business plan:

• Executive summary — A brief overview of the bed & breakfast business, highlighting its mission, goals, and key success factors
• Business overview — An in-depth description of the bed & breakfast, including its location, size, and unique features that set it apart
• Product and services — Detailed information on the accommodations and services offered, such as room types, amenities, and any additional offerings like guided tours or special packages
• Market analysis — A comprehensive evaluation of the target market, identifying the demand for bed & breakfast services in the chosen location and potential customer demographics
• Competitive analysis — Examination of other local accommodations and their strengths and weaknesses, outlining strategies to differentiate and compete effectively
• Sales and marketing — A plan for promoting the bed & breakfast, including online and offline strategies, pricing, and any partnerships or promotions to attract guests
• Management team — Introduction to key individuals responsible for running the bed & breakfast, highlighting their relevant experience and roles
• Operations plan — Details on day-to-day operations, staffing requirements, suppliers, and any technology or systems used to manage reservations and guest services
• Financial plan — Projections for the bed & breakfast’s financial performance, including startup costs, revenue forecasts, and profit margins
• Appendix — Supporting documents such as legal agreements, permits, resumes of key personnel, and any additional information that strengthens the business plan

If you’ve never created a business plan yourself before, it can be an intimidating task. Consider hiring an experienced business plan writer to create a professional business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business!

Choose Where to Register Your Company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you are planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to bed and breakfasts.

If you’re willing to move, you could really maximize your business! Keep in mind that it’s relatively easy to transfer your business to another state.

Choose Your Business Structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your bed and breakfast will shape your taxes, personal liability, and business registration requirements, so choose wisely.

Here are the main options:

• Sole proprietorship — The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
• General partnership — Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
• Limited Liability Company (LLC) — Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
• C Corporation — Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
• S Corporation — This refers to the tax classification of the business but is not a business entity. An S Corp can be either a corporation or an LLC , which just needs to elect this structure for tax status. In an S Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

Form Your LLC

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Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number or EIN. You can file for your EIN online, or by mail/fax. Visit the IRS website to learn more. Keep in mind that, if you’ve chosen to be a sole proprietorship, you can simply use your social security number as your EIN.

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you are completing them correctly.

Step 7: Fund Your Business

Securing financing is your next step and there are plenty of ways to raise capital:

• Bank loans — This is the most common method, but getting approved requires a rock-solid business plan and a strong credit history.
• SBA-guaranteed loans — The Small Business Administration can act as a guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
• Government grants — A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
• Venture capital — Offer potential investors an ownership stake in exchange for funds, keeping in mind that you would be sacrificing some control over your business.
• Crowdfunding — Websites like Kickstarter and GoFundMe offer an increasingly popular low-risk option, in which donors fund an entrepreneur’s vision.
• Personal — Self-fund your business via your savings, the sale of property or other assets, and support from family and friends.

Bank and SBA loans are probably the best options for funding a bed and breakfast business.

Step 8: Apply for Bed & Breakfast Business Licenses and Permits

Starting a bed and breakfast business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health license and permit from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits.

You need to make sure that the house that you choose is zoned for short-term rentals as a B&B. If not, you’ll need to apply for a variance with the local government. You may also need state-level licenses and local county or city-based licenses and permits. 

The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your bed and breakfast business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

• General liability — The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
• Business property — Provides coverage for your equipment and supplies.
• Equipment breakdown insurance — Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
• Worker’s compensation — Provides compensation to employees injured on the job.
• Property — Covers your physical space, whether it is a cart, storefront, or office.
• Commercial auto — Protection for your company-owned vehicle.
• Professional liability — Protects against claims from clients who say they suffered a loss due to an error or omission in your work.
• Business owner’s policy (BOP) — This is an insurance plan that acts as an all-in-one insurance policy, a combination of any of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business.

Essential Software and Tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.

You can use industry-specific software, such as Little Hotelier , Cloudbeds , or ResNexus , to manage your scheduling, bookings, and payments.

• Popular web-based accounting programs for smaller businesses include Quickbooks , FreshBooks , and Xero .
• If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences of filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop Your Website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using website builders . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech savvy, you can hire a web designer or developer to create a custom website for your business.

However, people are unlikely to find your website unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

Here are some powerful marketing strategies for your future business:

• Local SEO — Ensure your B&B is prominently listed on Yelp and Google My Business, on local directories and travel sites, using SEO strategies to appear in searches for accommodations in your area.
• Engaging social media — Utilize Instagram and Facebook to showcase the cozy ambiance, special amenities, and homemade breakfasts of your B&B.
• User-friendly booking system — Implement an easy-to-use online booking system on your website with clear calls to action like Book Your Stay.
• Blogging about local attractions — Share blog posts that highlight local attractions, events, and activities, positioning your B&B as the perfect gateway to the area.
• Guest stories and reviews — Encourage guests to share their experiences and post reviews online to generate social proof and enhance credibility.
• Host events — Organize events like wine tastings or book clubs at your B&B to engage the local community and attract potential guests.
• Open house tours — Offer tours that allow people to experience the charm of your B&B firsthand, which can lead to bookings.
• Partnerships with local businesses — Collaborate with local tour operators, restaurants, and shops to offer packages or special deals, enhancing guest experiences.
• Guest loyalty discounts — Create a loyalty program that offers special rates or a free night’s stay after multiple visits to encourage repeat business.
• Referral programs — Develop a referral program that provides incentives for guests who bring new customers to your B&B.
• Targeted online ads — Use digital advertising to target individuals looking for accommodations in your area, increasing direct bookings.
• Influencer stays — Invite travel influencers to stay and share their experience, leveraging their audience to increase your visibility and attract new guests.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that set it apart from the competition. Today, customers are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your bed and breakfast meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire.

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your bed and breakfast business could be:

• Our home is your home away from home
• Bed, breakfast, and live music!
• Lively B & B in the arts district

Optimize calls to action. Experiment with text, color, size, and position of calls to action such as Book Now. This can sharply increase purchases.

You may not like to network or use personal connections for business gain but your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a travel agency, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in the tour industry for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business.

Step 12: Build Your Team

If you don’t live at your B & B, you will need workers to fill various roles. Potential positions for a bed and breakfast business would include:

• Desk clerk — Check-ins and check-outs, customer service
• Housekeepers — Cleaning rooms, bathrooms, and kitchen
• Cook — Preparing breakfasts and other meals
• Marketing lead — SEO strategy, social media

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need.

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent.

Step 13: Run a Bed & Breakfast — Start Making Money!

Many travelers love the coziness and warmth of a B&B over a stale hotel. It’s a three-billion-dollar industry that you can tap into and make a healthy profit. Running a bed and breakfast also offers a unique lifestyle in which you constantly serve as host to a steady stream of interesting people.

You’ve educated yourself with the right information, and now you’re ready to start your entrepreneurial journey into B&B life.

• Bed and Breakfast Business FAQs

Profit margins for a bed and breakfast are high if you live in it and run it yourself. The average price for a B & B room is $170 per night, so if you have 5 rooms to rent, you can make a sizable income.

You can start one anywhere, but it’s best to be in an area that has some appeal as a tourist destination, such as a lively city like Nashville or a beautiful natural area like the Smoky Mountains. People want a trip that’s an experience, not just a place to stay.

A Bed & Breakfast is a traditional lodging option offering a quaint, homey atmosphere with personalized services, including breakfast. Airbnb is a platform where hosts can list various types of accommodations, from rooms to entire homes, without the personalized services typically offered by B&Bs.

The number of rooms in most bed and breakfast establishments can vary significantly. Some may have as few as three rooms, while others can have more than 20. The size of a bed and breakfast is typically determined by factors such as the property’s size, local regulations, and the owner’s preferences.

To increase bed and breakfast revenue, focus on strategies such as optimizing occupancy rates through effective marketing and promotions, offering additional services or experiences to guests, improving amenities to attract more guests and justify higher room rates, and targeting specific niche markets to attract clientele with specific needs or preferences.

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• Decide if the Business Is Right for You
• Hone Your Idea
• Brainstorm a Bed & Breakfast Business Name
• Create a Bed & Breakfast Business Plan
• Register Your Business
• Register for Taxes
• Fund Your Business
• Apply for Bed & Breakfast Business Licenses and Permits
• Open a Business Bank Account
• Get Business Insurance
• Prepare to Launch
• Build Your Team
• Run a Bed & Breakfast — Start Making Money!

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• Sample Business Plans

Bed And Breakfast Business Plan

If you are a people person who enjoys cooking and cleaning and is fond of historic and elegant houses, a bed and breakfast business would be perfect for you.

A bed and breakfast business not only allows you to work for yourself, but also to challenge your creative side. You get to pick the decor, the food menu, the serving style, and everything that’ll make you stand apart from the others.

Industry Overview

The bed and breakfast industry stood at a market value of 1.65 bn dollars at the beginning of 2021 and is picking up pace after being hit by the COVID-19 pandemic. Hence, with a lesser number of competitors now is the right time to enter the industry.

However, to know what you are getting yourself into, you need a well-written business plan. Also, planning your business well in its initial stages saves you from a lot of troubles later on.

Read on to find out how a business plan can help you and how to write one.

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How can a bed and breakfast business plan help you?

Writing a business plan before starting a bed and breakfast business can help you in managing your finances and budget better. It’ll also help you understand what your targeted client base expects out of you, it would also help you select the right location, formulate a good marketing strategy, and cater to the needs and demands of your customers better.

It can also help you steer clear of roadblocks and avoid hiccups in your business journey.

Moreover, it can make navigating through your daily business activities and your business milestones easier.

How to write a bed and breakfast business plan?

Though writing a business plan might seem intimidating at first, it doesn’t have to be. You can easily write a well-rounded business plan through a premade template or through a business plan software that’ll help you in every step of writing your business plan.

Apart from that, a good business plan focuses on every facet of your business and has clear and flexible goals and strategies. In the following section, we’ll discuss all the things you can include in your business plan to make it a good one.

Bed and breakfast business plan outline

This is the standard bed and breakfast business plan outline which will cover all important sections that you should include in your business plan.

• Customer Focus
• Management Team
• Keys to Success
• Financial Overview
• Who is The Manola Inn?
• Manola Inn’s History
• Manola Inn’s Services
• Bed and Breakfast Design
• Industry Statistics & Trends
• Geo-graphics
• Demographics
• Vacationers
• Honeymooners
• Service Business Analysis
• Profile of Target Market
• The U.S. Leisure Travel Market
• The U.S. Business Travel Market
• International Tourists
• The Madison Concourse Bed and Breakfast
• The Edgewater Bed and Breakfast
• Doubletree Bed and Breakfast Madison
• Competitive Pricing
• Competitive Advantage
• The Manola Inn Brand
• Phone Prospecting
• Public Relations
• Advertising
• Ongoing Customer Communications
• Pre-Opening Events
• Pricing Strategy
• Administrative Functions
• Bed and Breakfast Services
• Hiring Plan
• Revenue and Cost Drivers
• Capital Requirements and Use of Funds
• Key Assumptions & Forecasts
• Income Statement (5 Year projections)
• Balance Sheet (5 Year projections)
• Cash Flow Statement (5-Year projections)

What to include in a bed and breakfast business plan?

Several sections can make your business plan a well-rounded one. The major ones are as follows:

1. Executive summary

This document forms the first section of your business plan. It is useful while explaining your business ideas to your investors and can get you funded if written properly.

The executive summary section consists of the following sub-segments:

• Objectives : This segment would cover the objectives or the goals you wish to accomplish with your business.
• Business Overview : This section provides an overview of every aspect of your business.
• Key to success : In this section, you should mention practical reasons why you believe your business would be a successful one.

2. Customer Analysis

The customer analysis section helps you in knowing your target market better. It not only provides you with a detailed description of your customer base but also helps you in formulating marketing strategies surrounding them.

It can be broken down into the following subsections:

• Profile of target market : In this section, include details about your target audience like their preferred holiday destinations, their food habits, leisure activities that they prefer, etc.
• Customer segmentation : This segment helps you know the needs and preferences of different groups of customers and how to serve them better as per their differences.

3. Competitive Analysis

In this section, include a detailed analysis of your competitors, ranging from who they are to what they are doing and how your business stands apart from theirs.

Include the following subsegments in this segment:

• Direct and indirect competitors : Make a list of all your direct competitors, like the other B&Bs, and indirect competitors like inns, motels, hotels, etc.
• Competitive Advantage : In this section include all the advantages you have over your competitor including better or more accessible location, better customer reach, better services, etc. This will help you find your USP.

4. Marketing Plan

For your business to succeed, people need to know it exists. Hence, a marketing plan is a crucial part of your business. It would consist of a market analysis followed by an advertising strategy.

5. Operations Plan

This section is crucial especially for a B&B as it helps you plan your daily activities from how you would manage your customers to business milestones like expanding your services, growing to a certain size, etc.

6. Financial Plan

Having a good financial plan can help your business stay afloat during difficult times and earn maximum profits when the market condition is good. It can be broken down into the following segments:

• Revenue and cost drivers : Include the aspects that generate revenue and the ones that incur costs, so you can manage them better to reduce costs and increase revenue wherever possible.
• Capital requirements and use of funds : in this section list down the capital requirements of your business and the sources you can acquire funds from.
• Projected profits : In this section, include the short-term and long-term profits your business would make according to your calculations.

Download a sample bed and breakfast business plan

Need help writing your business plan from scratch? Here you go;  download our free bed and breakfast business plan pdf  to start.

It’s a modern business plan template specifically designed for your bed and breakfast business. Use the example business plan as a guide for writing your own.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Bed and breakfast business plan summary

In conclusion, with the right amount of planning and thorough execution, a bed and breakfast business can be extremely profitable.

After  getting started with Upmetrics , you can copy this bed and breakfast business plan example into your business plan and modify the required information and download your bed and breakfast business plan pdf or doc file.

It’s the fastest and easiest way to start writing your business plan.

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About the Author

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Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Bed and Breakfast Business Plan Template

Written by Dave Lavinsky

Bed and Breakfast Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their bed and breakfast businesses.

If you’re unfamiliar with creating a bed and breakfast business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a bed and breakfast business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Bed and Breakfast Business Plan?

A business plan provides a snapshot of your bed and breakfast business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Bed and Breakfast

If you’re looking to start a bed and breakfast business or grow your existing bed and breakfast company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your bed and breakfast business to improve your chances of success. Your bed and breakfast business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Bed and Breakfast Businesses

With regards to funding, the main sources of funding for a bed and breakfast business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for bed and breakfast companies.

Finish Your Business Plan Today!

How to write a business plan for a bed and breakfast.

If you want to start a bed and breakfast business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your bed and breakfast business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of bed and breakfast business you are running and the status. For example, are you a startup, do you have a bed and breakfast business that you would like to grow, or are you operating a chain of bed and breakfast businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the bed and breakfast industry.
• Discuss the type of bed and breakfast business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of bed and breakfast business you are operating.

For example, you might specialize in one of the following types of bed and breakfast businesses:

• Home Stay (traditional bed and breakfast): This type of business is one in which the proprietors rent out space in their own home to guests.
• B&B: This type of business is similar to the traditional bed and breakfast, with the main difference being that the proprietors do not live in the house.
• Country Inn: This type of business is typically larger than a traditional B&B with more accommodations such as a restaurant and multiple rooms available to rent.
• Cottage: This type of business involves renting out a separate building that is just outside of the proprietor’s main residence.

In addition to explaining the type of bed and breakfast business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of guests served, the number of reservations booked, and reaching $X amount in revenue, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the bed and breakfast industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the bed and breakfast industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your bed and breakfast business plan:

• How big is the bed and breakfast industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your bed and breakfast business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your bed and breakfast business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of bed and breakfast business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other bed and breakfast businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes other types of bed and breakfast establishments, hotels, hostels, and short-term rentals. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of bed and breakfast business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you make it easier for customers to obtain your services?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a bed and breakfast business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of bed and breakfast company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide a continental breakfast, a full service restaurant, or laundry service?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your bed and breakfast company. Document where your company is situated and mention how the site will impact your success. For example, is your bed and breakfast business located close to a busy tourist attraction, near the beach, or in the mountains? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your bed and breakfast marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your bed and breakfast business, including answering calls, booking reservations, scheduling cleaning services, and billing customers, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth guest, or when you hope to reach $X in revenue. It could also be when you expect to expand your bed and breakfast business to a new location.  

Management Team

To demonstrate your bed and breakfast business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing bed and breakfast businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a bed and breakfast.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will your bed and breakfast have 4 rooms available to rent and will you charge $100 per room/night? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your bed and breakfast business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a bed and breakfast business:

• Cost of equipment and supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include photos of your bed and breakfast or testimonials from happy customers.  

Writing a B&B business plan for your bed and breakfast business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert on opening a bed and breakfast. You will understand the bed and breakfast industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful bed and breakfast business.  

Bed and Breakfast Business Plan FAQs

What is the easiest way to complete my bed and breakfast business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your bed and breakfast business plan.

How Do You Start a Bed and Breakfast Business?

Starting a bed and breakfast business is easy with these 14 steps:

• Choose the Name for Your Bed and Breakfast Business
• Create Your Bed and Breakfast Business Plan
• Choose the Legal Structure for Your Bed and Breakfast Business
• Secure Startup Funding for Your Bed and Breakfast Business (If Needed)
• Secure a Location for Your Business
• Register Your Bed and Breakfast Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Bed and Breakfast Business
• Buy or Lease the Right Bed and Breakfast Business Equipment
• Develop Your Bed and Breakfast Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Bed and Breakfast Business
• Open for Business

Learn more about   how to start your own bed and breakfast business .

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Other Helpful Business Plan Articles & Templates

Win guests & investors: the ultimate B&B business plan guide (plus free template)

• 30th April 2024
• Expert advice

Thinking of transforming your charming space into a thriving bed and breakfast? Running a B&B can be an incredibly rewarding experience, allowing you to connect with guests from all around the world while sharing your local expertise. However, it’s also a serious business endeavour that requires careful planning and preparation. 

Whether you're a seasoned hospitality pro or a complete newcomer, a well-structured bed and breakfast business plan is your key to success. At Touch Stay, we know the importance of guest experience, and that starts with a solid foundation for your B&B. This comprehensive guide equips you with everything you need to write a winning B&B business plan and turn your dream into reality. 

We'll also provide a free downloadable template and a detailed bed and breakfast business plan checklist to help you get started. But first, let's explore why a B&B business plan is crucial… 

• Why a B&B business plan matters
• The essential B&B business plan template

Free B&B business plan template and checklist

Why a b&b business plan matters: a breakdown.

Beyond securing funding, a B&B business plan offers a roadmap for growth and long-term success. Here's how:

1. Clarity and focus: writing your plan forces you to really define your B&B. This means getting clear on:

• Unique selling points (USPs): what makes your B&B stand out from the competition? Is it an historic mansion, a stylish city apartment, or a pet-friendly atmosphere?
• Target market: who are your ideal guests? Are you targeting families, romantic getaways, or outdoor enthusiasts?
• Financial goals: how much revenue do you need to generate? What's your profit target?

By getting clear on these aspects from the start, you can ensure your B&B is heading in the right direction.

2. Funding: if you need financial backing to get your bed and breakfast off the ground, a well-written B&B business plan is essential. It acts as a persuasive document for lenders and investors by:

• Showcasing potential: your plan lays out the potential profitability of your B&B, with realistic projections and a clear strategy for success.
• Inspiring confidence: a well-structured plan demonstrates your professionalism and commitment to making your B&B a thriving business.

This can make a big difference in securing the funding you need.

3. Roadmap for growth: your B&B business plan isn't a static document. It's a living roadmap that should evolve with your B&B. Here's how it helps:

• Decision-making: when faced with challenges or new opportunities, your plan provides a framework for making informed decisions that align with your overall goals.
• Navigating challenges: the hospitality industry is dynamic. Having a clear plan helps you anticipate and navigate unforeseen obstacles that may arise.

By keeping your plan updated and referring to it regularly, you can ensure your B&B stays on track for long-term success.

The essential B&B business plan template: a deep dive

Your bed and breakfast business plan is like a blueprint for success. It outlines your vision, defines your strategies, and demonstrates the financial viability of your dream. Here's a detailed breakdown of the key sections you should include:

1. Executive summary:

This is your elevator pitch for your B&B. It should be a concise (typically 1-2 pages) overview that grabs the reader's attention and summarises the key points of your entire plan.

• Briefly introduce your B&B, its location, and its unique selling points (USPs). What makes your B&B stand out from the competition?
• Highlight your target market and the guest experience you aim to create.
• Briefly summarise your financial projections and future potential for growth.

2. Company description:

Dive deeper into the heart and soul of your B&B.

• Describe your property – its architectural style, historical significance (if applicable), and the number of rooms and amenities offered.
• Explain your B&B's theme or atmosphere. Are you a cosy country retreat, a luxurious urban escape, or something else entirely?
• Showcase the unique experiences you offer guests. Do you specialise in gourmet breakfasts, themed activities, or personalised local recommendations?

3. Market analysis:

Understanding your market landscape is crucial for success. Here's what to include:

• Who is your ideal guest? Define their demographics (age, income, interests) and psychographics (travel style, preferences).
• Competitor analysis: research other local B&Bs and similar accommodation. Analyse their strengths and weaknesses, pricing strategies, and target audience. How will you differentiate your B&B from them?
• Industry trends: stay informed about current trends in the B&B industry . Is there a growing demand for eco-friendly accommodation, pet-friendly stays, or unique experiences?
• Pricing strategy: determine your room rates based on competitor analysis, local market trends, and your B&B's unique offerings.

4. Marketing plan:

Now it's time to map out your strategies to attract your ideal guests.

• Booking channels: list the platforms you'll use to attract bookings. This might include your own website, online travel agencies (OTAs) like Airbnb or Booking.com, or direct marketing through local partnerships.
• Online presence: develop a strong online presence through a user-friendly website that showcases your B&B's charm and amenities, and is optimised for people searching for accommodation in your location. 
• Digital marketing : use social media platforms like Instagram or Facebook to connect with potential guests and share engaging content. Which social media channels you choose for your B&B will depend on which ones research tells you your ideal guests use most.

5. Management team:

Showcase the expertise behind your B&B. Briefly introduce yourself and any key team members, highlighting:

• Your hospitality experience: detail your background in hospitality, relevant skills, and passion for creating exceptional guest experiences.
• Team qualifications: if you have staff (housekeepers, chefs), mention their relevant experience and qualifications.

6. Operations plan:

This section outlines the day-to-day operations of your B&B, ensuring a smooth and seamless guest experience.

• Guest services: detail your check-in/check-out procedures, housekeeping standards, and guest communication protocols.
• Breakfast operations: outline your approach to breakfast service. Will you offer a self-serve continental breakfast, a hot breakfast cooked to order, breakfast room service, or themed breakfast options?
• Amenities and services: list the amenities you offer, like laundry services, in-room massages, or bicycle rentals. Explain how guests will access these services.

Touch Stay provides digital guidebooks designed specifically for B&Bs. Check out how The Maitland Manor Bed & Breakfast and Silverbow Inn use theirs to share essential info and local recommendations to ensure their guests have the best stay possible.

7. Financial projections:

Demonstrate the financial viability of your B&B here. It should be realistic and backed up by research.

• Startup costs: list all the one-time expenses required to launch your B&B, including furniture, renovations, permits, and marketing materials.
• Operational costs: detail your ongoing operational expenses like utilities, property taxes, supplies, and staff salaries.
• Revenue forecast: project your expected revenue based on occupancy rates, room rates, and any additional income streams like gift certificates or event space rentals.
• Profitability analysis: show how your projected revenue compares to your expenses, indicating your expected profitability over a set period (typically 3-5 years).

Ready to dive in? We've created a downloadable bed and breakfast business plan template along with a comprehensive B&B checklist to ensure you don't miss a single detail. These resources will guide you through each section of the plan.

Enter your details to receive your free bed and breakfast business plan template and checklist.

Touch Stay: your partner in B&B success

Starting your own bed and breakfast requires passion, planning, and this vital business plan document. By clearly defining your B&B’s value proposition, operations, finances, and more, you’ll be setting yourself up for startup success and delighted guests for years to come. 

At Touch Stay, we believe in empowering B&B hosts to create exceptional guest experiences. Our digital guidebooks for B&Bs provide guests with all the information they need at their fingertips. This frees you up to focus on what you do best – offering warm hospitality and creating a memorable stay.

Start a free 14-day trial with Touch Stay and create your B&B guidebook today

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Bed and breakfast business plan template + PDF

This guide offers a comprehensive Bed & Breakfast Business Plan template, ideal for entrepreneurs who are keen on launching or expanding their bed and breakfast ventures. It is crucial to understand that the names and financial data included in this sample are completely fictional and are used solely for demonstration purposes. These examples aim to show you how to personalize your own Bed & Breakfast Business Plan, adapting it to the unique characteristics of your bed and breakfast operation.

To facilitate this customization, we provide a downloadable "Bed & Breakfast Business Plan PDF" . This document is an essential resource for entrepreneurs dedicated to developing a robust and effective strategy for starting or enhancing their bed and breakfast. The "Bed & Breakfast Business Plan" acts as an in-depth guide, offering extensive insights into the bed and breakfast industry. It equips you with the necessary tools for successful management and growth of your bed and breakfast business.

How this bed and breakfast business plan sample was created

Easily develop a tailor-made business plan for your bed and breakfast with our AI Business Plan Generator. Simply click on the "Generate your business plan" button and respond to a series of simple questions about your project. Our advanced AI technology will process your answers to produce a business plan specifically tailored to the needs and objectives of your bed and breakfast. This efficient method is fast, typically requiring only 5-10 minutes, and results in a detailed and well-organized plan. Our system is designed for flexibility, allowing you to adjust and refine the plan to align precisely with your unique vision. Once you are content with it, the plan can be downloaded, providing you with a clear and comprehensive guide for initiating and developing your bed and breakfast business.

Generate your custom bed and breakfast business plan in minutes!

Bed and breakfast business plan sample, executive summary, business description, market research and analysis.

• Organizational Structure and Management Team

Products or Services

Marketing and sales strategy, operations plan, financial projections, risk analysis.

Whispering Pines B&B is a sole proprietorship, proudly owned and managed by John Smith. It operates within the bed and breakfast industry in a niche market catering to couples, vacationers, travelers and nature enthusiasts between the age of 25 - 60 years. The service offering revolves around a comfortable and luxurious night's rest complemented by a gourmet breakfast, served in a welcoming, relaxing, and home-like environment.

Recognizing the competitive landscape, our five main competitors comprise Sunny Meadows Inn, Rustic Oak B&B, Honeycomb Hideaway, Pleasant Peaks Guest House and Silver Birch B&B. Even though these establishments offer similar services, our unique selling proposition lies in the blending of tranquillity and luxury, and our management's dedication to ensuring an unforgettable guest experience.

Speaking of management, John Smith, the owner, is at the helm, utilizing his wealth of experience as a former five-star hotel manager and a degree in hospitality management to maintain highest standards of service. Tom Fletcher, our head chef with over a decade's worth of culinary experience, ensures the gustatory satisfaction of our guests. Emily Dawson, our Guest Services Manager, leverages her seven-year tenure in customer service to provide personalized care to our patrons. Finally, Richard Sullivan, operates as our Maintenance Supervisor, keeping the facilities in pristine condition, thus eliminating any room for guest discomfort.

To ensure a steady stream of guests, we have fleshed out a comprehensive marketing and sales strategy. Ranging from promoting our services through online travel agencies and collaboration with local tourism associations to leveraging the power of social media, our strategy is carefully calibrated to our target market. Additional measures include maintaining an interactive website, issuing regular email newsletters, and providing customer referral incentives.

At the heart of our operations plan is a laser-focus on guest comfort. Our seven rooms are available all year round to ensure we meet the demands of our guests irrespective of seasonal variations. Dedicated check-in and check-out times are adhered to, and our front desk operates round the clock to address any immediate needs of the guests.

Financially, we forecast healthy growth over the next five years. In the first year, we project a revenue of $75,000. This figure is set to scale upward, reaching $175,000 by the fifth year, indicating a steady rise in our popularity and resilience of our business model.

Finally, in terms of risk management, potential issues have been identified and corresponding mitigation plans drafted. These include low occupancy rates, food waste, property damage, and unexpected operational costs. To alleviate these risks, we have engineered aggressive marketing strategies, implemented efficient food management systems, set strict rules for guests, and established a contingency fund. Furthermore, we are armed with adequate insurance coverage and the readiness to diversify our income streams, if required.

In summary, Whispering Pines B&B with its tranquil luxury, heritage hospitality, and personalized care, is set to create a lasting impression on the guests and an appreciable growth trajectory in the hospitality sector. This success will be achieved with robust operational planning, diligent management team, practical marketing strategies and sound financial planning.

Whispering Pines B&B, located in the heart of scenic Vermont, operates within the hospitality industry, specializing in offering luxurious accommodations and heartfelt services to our guests. Our target market primarily consists of couples, vacationers, travelers, and nature enthusiasts aged 25-60 seeking a unique blend of comfort, nature, and luxury.

The business was initiated by John Smith, a former manager at a renowned five-star hotel with a passion for hospitality and a love for nature. Recognizing the gap in the market for high-quality bed and breakfast accommodations that offer an intimate connection with nature without compromising on luxury, John established Whispering Pines B&B in 2017. Our purpose is to create an unforgettable lodging experience for our guests that offers a comfortable retreat away from the hustle and bustle of city life.

Our mission is to provide excellent customer service and create a welcoming, comfortable, and memorable experience for our clients while fostering sustainable tourism practices.

Whispering Pines B&B is a sole proprietorship. John Smith owns the business, managing the daily operations, making strategic decisions, and ensuring that the mission statement is upheld in every aspect of the business.

In terms of its potential, Whispering Pines B&B has promising prospects. With more and more people seeking unique travel experiences and accommodation options, bed and breakfast businesses present significant opportunities for growth and profitability. As people continue to appreciate the unique and personal touch that bed and breakfast establishments offer, the future seems favorable for Whispering Pines B&B.

The business has shown steady growth since its establishment. We attribute this growth to our focus on superior customer service, continuous quality improvement, and strategic marketing efforts. We plan to further grow and expand our business by investing in additional rooms and extending our range of services.

Our long-term strategy includes expanding our marketing efforts to reach a larger audience, extending our services to include event hosting, and opening new locations in high-demand areas. These expansions will significantly enhance our market reach and revenue, creating viable profit and growth for our business.

The past years of operation have proven that a bed and breakfast can not only thrive but also bring about meaningful change in the hospitality industry. We believe that our focus on personalized services, combined with our commitment to eco-friendly practices and socially responsible business operations, places us in an ideal situation to materialize our vision for Whispering Pines B&B. Our commitment to creating a positive customer experience and providing excellent service will continue to drive us forward in the hospitality industry.

The Bed & Breakfast (B&B) industry in the U.S. has shown consistent growth over the years, with a current market size of $3 billion and a projected growth rate of 4.3% in the coming years. This industry has become more attractive to consumers who seek a unique lodging experience, tailored service, and a sense of local culture.

Whispering Pines B&B is strategically positioned within this market, targeting couples, vacationers, nature enthusiasts, and travelers within the 25-60 age bracket. The potential market is vast considering there are around 36 million nature travelers in the U.S., and approximately 38% of couples choose quiet rural regions for their vacations.

This market segment values tranquility, comfort, an exclusive experience, and exceptional customer service. They often seek an escape from their busy lives and look for a comforting environment that connects them with nature- an ideal proposition that Whispering Pines B&B provides. The inconsistency in service of chain hotels and lack of personalization catalyzes our value proposition.

Currently, the B&B market is facing a shifting trend towards digitization, including online booking, Active social media presence, mobile apps, and AI chatbots. There’s also a demand for unique and personal experiences that cater to specific consumer preferences.

Several competitors within our region pose potential challenges. Sunny Meadows Inn, known for its picturesque landscape and superior service, holds a significant market share. Rustic Oak B&B offers a rustic appeal, while Honeycomb Hideaway is popular for its hospitality service. Pleasant Peaks Guest House and Silver Birch B&B are known for their budget-friendly packages. However, these competitors often lack a combination of luxurious, nature-oriented, and personalized experiences that Whispering Pines B&B offers.

Potential barriers to entry into the market include the immediate need for high standard premises in desirable locations and substantial startup costs inclusive of renovation, furnishing and ensuring compliance with safety and regulation laws. However, Whispering Pines B&B has already overcome most of these barriers and has built a reputation for offering a unique and personalized guest experience.

Financially, we anticipate a steady increase over the next five years, starting with year one revenue of $75,000, continuing to grow up to $175,000 in the fifth year. This maintains a conservative growth rate consistent with industry trends.

Potential risks include adverse economic factors such as recession, reduced travel due to global events, and sterner regulations. These would be mitigated by maintaining a strong online presence, versatile offerings that attract various customer segments, collaborations with local tourism boards, and ensuring business operations comply with all existent laws and regulations.

In conclusion, Whispering Pines B&B has a promising potential within the B&B industry, offering a unique proposition to a growing target market. By keeping an eye on industry trends, matching up to competitor offerings, and strategizing growth plans, we aim to carve a niche for ourselves within the industry.

Organizational Structure and Management

Whispering Pines B&B is a bed and breakfast establishment offering luxury accommodation and personalized service in a serene and natural environment. The business operates as a sole proprietorship, owned and managed by John Smith.

In terms of organizational structure, the business adheres to a flat hierarchy that encourages communication and interaction among the team members and with the guests. At the helm is John Smith, the owner and manager who oversees the day-to-day operations. He is assisted by Emily Dawson, the Guest Services Manager, who personally ensures every guest enjoys a pleasant stay.

The culinary department is headed by Tom Fletcher, who leads a small team of kitchen staff to deliver a delicious and wholesome breakfast each morning. Richard Sullivan takes charge of the maintenance to ensure the facilities are in their prime condition at all times. The team is further assisted by housekeeping staff and front office associates, who contribute to delivering a seamless service to the guests.

Given the nature of the business and the services it offers, staffing needs are relatively limited. However, with plans for expansion and introduction of more rooms and services, the requirement for additional housekeeping staff, kitchen staff, and front office associates may arise in the near future.

The business places strong emphasis on human resources policies and practices, believing that its staff is its biggest asset. The company's policy includes equal opportunity employment, comprehensive training programs, remuneration and rewards that are competitive, and work cultures that ensure a healthy work-life balance.

Currently, the business does not engage any external advisors or consultants. However, as part of future expansion plans, it may consider hiring a marketing consultant to boost the business's visibility and reputation, as well as a legal advisor to ensure compliance with all regulatory requirements.

In the end, the success of Whispering Pines B&B boils down to its commitment to delivering exceptional service, attention to detail, and the unique blend of nature, comfort, and luxury that it offers. With a strong and dedicated team steering the wheel, the business is poised to become a top choice for couples, vacationers, and nature enthusiasts.

Whispering Pines B&B specializes in providing a tranquil and luxurious accommodation experience with value-added services such as personalized gourmet breakfasts and concierge for local attractions. Our space combines elegance with homely comfort, offering six uniquely designed rooms with views of adjacent pine forests, reflecting the tranquility associated with nature.

One of our standout competitive advantages is the personalized service we offer to our guests. Given our size, we can understand our guests better and serve them on a more personal level. This creates a warm, welcoming atmosphere and encourages returning visits.

Currently, Whispering Pines B&B is in full operational status with plans to expand our room offerings in the future to cater to a larger customer base. Our future plans also include the introduction of wellness packages that incorporate nature walks, yoga sessions, and spa services.

While the business does not hold any patents, trademarks, or copyrights, we are in the process of registering our brand logo and tagline. This gives us a distinctive identity and adds a layer of protection against any potential infringement.

The production process in our context revolves around delivering a comfortable stay with attentive services. This begins with the booking process, which is simplified for the convenience of our guests. Upon arrival, the guests are welcomed and checked into their chosen room, followed by a small orientation of the property.

The next morning, our guests are treated to a hearty homemade breakfast, which is included in their stay. This breakfast is crafted with locally sourced ingredients to ensure freshness and promote local businesses. Throughout the stay, our staff is available 24/7 to cater to any needs or queries of our guests. Upon check-out, guests are requested to provide their feedback, which helps us to improve our services further.

Our suppliers are key partners who contribute significantly to our operation. We rely on local suppliers for furnishing our rooms, maintaining our property, and providing ingredients for the breakfasts. We believe in supporting the local economy and maintaining a symbiotic relationship with our suppliers.

In conclusion, Whispering Pines B&B offers a unique lodging experience that is high on comfort and personalized service. Our competitive edge lies in our unique selling proposition and the quality assured by our suppliers. While we are in full operation, our vision drives us towards continual expansion and development. We look forward to welcoming more guests and sharing our tranquil haven with those seeking an escape from the hustle and bustle of urban life.

Our marketing strategy at Whispering Pines B&B encompasses a broad reach across different media to target our key demographic: couples, vacationers, travelers, and nature enthusiasts aged 25-60. Our approach will include online marketing via our website and social media platforms to ensure a broad digital reach. Furthermore, partnerships with online travel agencies will increase our visibility in relevant search results and travel bookings.

Regarding sales, our tactics include the direct sales approach on our website and indirect sales via online travel agencies. Furthermore, a sales team will engage with local tourism associations to ensure a better local market presence. Sales activities will include representation at tourism trade shows, local events, and business collaborations to increase brand visibility and drive reservations.

The pricing strategy will have a two-tiered approach. The off-peak season will offer a lower price point to attract budget-conscious travelers, while the peak season will be set at a higher price to capitalize on the increased demand. Moreover, we'll also offer special packages for extended stays and cooperate with local tourism businesses to provide all-inclusive travel experience packages.

Our distribution channels are both online and offline. The primary online distribution channels include our website, online travel agencies, and social media platforms. Offline distribution comprises of collaborations with local tourism associations, travel agents, and events.

The advertising plan is to promote Whispering Pines B&B across various platforms. This includes running PPC (Pay Per Click) advertising campaigns on search engines and social media platforms. In addition, creating engaging content for our website and social platforms to showcase our property and the unique experiences we offer. Traditional channels like local print media and radio will target local clients and enhance our brand awareness within the community.

Our promotion strategy will be seasonally adjusted, offering special discounts during off-peak season and for extended stays. Gift vouchers, loyalty programs, and referral incentives will be implemented to encourage repeat visits and customer referrals.

Our customer service policy will be based on the principle of exceeding guest expectations at every point of their stay with us. This includes a relaxed check-in/check-out process, providing accurate local information, assistance for local travel, and addressing guest concerns promptly. We also commit to maintaining a clean, safe, and welcoming environment for all our guests.

In conclusion, our marketing and sales strategy aims to maximize reach, visibility, and conversion, thus promoting growth and profitability for Whispering Pines B&B. Our comprehensive approach will ensure a consistent customer experience from booking to departure and encourage repeat visits and recommendations.

At Whispering Pines B&B, we're committed to providing seamless, quality services to our valued guests. Key to this goal is a efficient operational workflow, effective service delivery, stringent quality control measures, and astute inventory and supply chain management.

Daily operations begin as early as 6 a.m., when our kitchen starts preparing a diverse, gourmet breakfast selection, available to guests until 10 a.m. Housekeeping services begin at 11 a.m., ensuring a pristine and welcoming environment ready for new arrivals. Check-outs are concluded by noon, while the check-in desk opens at 3 p.m., with the front desk operational 24/7 for any guest needs.

Our service delivery process follows a systematic and guest-oriented approach. With the guest's comfort as our utmost priority, we pay great attention to detail in room preparation, meal preparation, and provision of all promised services and amenities. Our staff communicates closely with guests to cater to any specific requests or preferences.

Quality control is vital to our operations. We maintain stringent standards, from the cleanliness of our rooms to the selection of ingredients for our breakfast services. Regular inspections are conducted and staff training is routinely updated to maintain our high standards.

Inventory management for our business comprises managing meal supplies, housekeeping supplies, and general maintenance provisions. Our system is designed to ensure that stock is always sufficient and replenished timely, minimizing the chance of any service disruption. We maintain strong relationships with local suppliers for fast and reliable access to fresh, high-quality produce.

For larger scale needs, such as renovations or new construction, we work closely with trusted contractors and tradespeople and carefully scrutinize the supply chain to ensure timely delivery of cost-effective and quality materials.

Our facilities and equipment needs vary from basic hospitality equipment such as beds, linen, cutlery, and kitchen appliances, to maintenance tools and gardening equipment for our picturesque grounds. We ensure all our facilities and equipment are routinely checked for safety and functionality, and replaced or repaired as necessary.

From operations to supply chain management, every facet of our business is designed to meet and exceed our guests' expectations. We are consistently investing in our staff, facilities, and processes to provide a standout experience while optimizing resources. Our commitment to operational efficiency, coupled with the charm of our serene accommodation, is designed to make Whispering Pines B&B the ultimate getaway site.

In the coming years, we anticipate a steady progression in terms of revenues and profitability. Year one revenue is expected to be $75,000, followed by $100,000 in year two. We anticipate further acceleration in year three, with revenues increasing to $125,000. By year four, we project revenues of $150,000, and by year five, we expect to generate $175,000 in annual revenue.

Our profit and loss projection is based on these revenue figures, paired with the costs of the business' ongoing operations and overheads. Operating costs include daily operational expenses such as salaries of staff, utilities, and maintenance. Overhead costs cover advertising and marketing expenses, insurance, and any interest payments on loans.

Furthermore, we anticipate positive cash flow starting from year two, as revenue increases and our presence in the market solidifies. Our balance sheet projection includes capital expenditure on property, equipment and fixtures, and accumulated depreciation over the years.

The break-even analysis reveals that our break-even point should be reached towards the end of the first year. This is based on the calculation of our fixed costs, variable costs, and expected revenues within this period. Beyond this point, all revenues contribute to profit, marking our shift from initial investment recovery to profitability.

The financial projection makes several key financial assumptions. These pertain to the stable state of the economy, an uninterrupted flow of operations, steady growth in demand, maintenance of current levels of competition, and absence of unforeseen adverse circumstances.

In conclusion, our financial projection highlights promising profitability and growth prospects for Whispering Pines B&B. We view these projections as not merely numbers, but as driving factors that guide us towards achieving our business goals and future success.

A comprehensive risk analysis has identified several potential risks. Those include market, operational, and financial risks, which we have undertake stringent measures to mitigate.

Market risks include changes in customer preferences, increased competition, and tourism fluctuation. Our risk mitigation strategies for these challenges include constant market research, responsive business practices to adapt to changes, aggressive and targeted marketing strategies, and the offering of unique packages that differentiate our service from competitors.

Operational risks include food waste due to perishable inventory, potential property damages by guests, and unforeseen maintenance issues. To counter these risks, we will implement strict inventory management techniques and waste reduction strategies. Guest rules and policies alongside property and liability insurance will be put in place to cover potential damages. An emergency fund will be allocated for unexpected maintenance issues, and we will establish a strong relationship with local suppliers and service providers to handle emergency maintenance tasks.

Financial risks include low occupancy rates, fluctuation in market prices of food and other supply goods, and unexpected increases in operational costs, among others. We will mitigate these through the diversification of income streams by offering additional services such as event spaces, and by maintaining a consistent and aggressive marketing strategy to ensure a steady flow of reservations. Supply contracts will be negotiated for favourable terms to cushion against price fluctuations, and a contingency budget will be maintained to cover unexpected cost increases.

We have considered legal factors, making sure we operate our business while adhering to local, state, and federal laws. Areas such as adhering to health regulations, guest safety and compliance, regulatory and zoning requirements, employment laws, and tax laws have been reviewed and met in our operational plans. We work closely with a legal advisor to ensure our continued compliance with any introduction of new rules or policies.

Insurance policies, designed to cover potential risks have also been put in place, which consist of property insurance, general business liability insurance, business interruption insurance, and workers' compensation insurance. They ensure coverage of potential damages to property, liability against guest claims, revenue loss due to unexpected business interruptions, and employee injury compensations.

Our contingency plans cover most unforeseen circumstances, and include detailed steps on managing emergencies, allocating responsibilities, preserving vital business operations, and prompt communication protocols.

By analyzing potential risks and having corresponding plans in place, we are confidently prepared to handle challenges that may come our way, thereby reinforcing the sound nature of our business plan and operational strategy.

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Bed and Breakfast Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Hospitality, Travel & Tourism » Bread & Breakfast

Are you about starting a bed and breakfast business ? If YES, here is a complete sample bed and breakfast business plan template & feasibility report you can use for FREE .

If you have got the interest to invest in the hospitality industry but you lack the start – up capital to start your own hotel or motel, then you should consider starting a bed and breakfast business. Bed and Breakfast business is perhaps one of the easiest means of owning a business portfolio in the hospitality industry.

One of the good news is that it is a business that sure guarantees good returns on your investment. One thing is certain, it is easier to find several bed and breakfast businesses scattered in a neighborhood, which is why most bed and breakfast owners ensures that they put facilities in places that will not only guarantee the safety and relaxation for their guests, but also create an ambience that will give them room to socialize.

In recent times, you can easily find facilities such as wireless internet access, free parking, spa services or nightly wine and cheese hours in the average bed and breakfasts. This line of business is indeed a profitable business because you can operate the business with your family members, thereby cutting operational cost to the barest minimum.

So also, the fact that you are making use of your apartment means that you won’t be spending huge amount acquiring or renting a property to be used for the business except you just want to expand the business beyond the house you are currently living.

A Sample Bed and Breakfast Business Plan Template

1. industry overview.

The hospitality industry has been in existence from time immemorial and it is still waxing strong simply because people can’t do away with the services they offer. When you talk about a bed and breakfast business, you are talking about a business that provides lodging for guest / travelers, tourist, visitors, and what have you, on a short-term basis with a fee.

When people lodge in a bed and breakfast accommodation setting, they have the options of subscribing to other services they offers; services like internet facility, drinks, laundry, fitness center, swimming pool, conference room and business room et al.

Simply put, a typical bed and breakfast is a small lodging accommodation that offers overnight accommodation and breakfast to guest that lodge there. Aside from breakfast, they usually does not offer other meals (whether dinner or launch). Normally, people that run bed and breakfasts make used of their private homes or their family homes. The average bed and breakfasts have 6 rooms, but generally, bed and breakfasts operate 4 to 11 rooms within a facility.

It is important to state that the bed and breakfast business is a niche segment of the Hospitality cum travel industry. As part of this industry, bed and breakfasts are categorized as a private residence that provides a room and a breakfast for travelers or guests.

Statistics has it that there are roughly seventeen thousand (17,000) registered beds and breakfast business in the United States and they can be found in all states, in major cities and remote rural areas in the U.S. There is no defined structure for Bed and Breakfasts, they are known to occupy everything ranging from modest cottages to luxurious mansions, and in restored structures from schools to wagons to churches.

The result from a survey and research conducted reveals that the average number of rooms for a bed and breakfast is 8.5, up from 8 rooms in 2000, 95 percent of respondents offer rooms with private baths, 93 – 94 percent of inns or bed and breakfasts are non-smoking, Responding inns employ 4.6 people, 42 percent of bed and breakfasts have meeting rooms

So also it was revealed that most bed and breakfasts are operated by a family and hence they have no employees; they are run in – house by family members. According to the US Census Bureau County Business Patterns, there were 3,042 bed and breakfast inns with paid employees – 721191. These bed and breakfasts employed 19,665 employees in 2001 in the united states. According to a survey conducted by the PAII there were some 20,000 licensed inns in the United States in 2004.

The report from a survey published in 2001 by CNNMoney online and conducted by B&B Getaways. The survey asked how guests find out about bed and breakfasts and reported the following results: 49% Internet, 18% Word of mouth, 6% Print advertising and travel guides.

The survey also found that one-third of bed and breakfasts charge more than $125 a night. Usually, bed and breakfasts were seen as the ideal place for the weekend-getaway; nevertheless, this only accounted in occupancy for three nights of the week. Business travelers accounts for 52 percent of the lodging industry.

Recently, bed and breakfasts are now shifting their attention to weekday travelers and they have gone ahead to start making provision for amenities such as in-room data ports, high-speed Internet connections, DVD, and many other trappings sought by business travelers.

So also, the numbers of bed and breakfasts adding meeting room space to their facilities is on the increase. The use of these facilities is often complimentary as bed and breakfasts are becoming preferred locations for retreats. A recent survey conducted by PAII found 42% of 800 respondents had meeting room space in 2002, compared to 28% in 2000.

The bed and breakfasts industry is still growing despite the fact that there are many players in the industry. For instance, in 2014, the federal government of the United States spent a total of $161,007 on Bed-and-Breakfast Inns. It has awarded 34 contracts to 5 companies, with an average value of $32,201 per company. The idea is that once a start – up bed and breakfast is well positioned and offers additional services, then they just need to do little to stay in business.

If you are contemplating starting your own beds and breakfasts business in the United States, you should ensure that you carry out a thorough market survey and feasibility studies. If you get some key factors wrong before starting your own bed and breakfasts, then you are likely going to struggle to stay afloat.

2. Executive Summary

Joel & Jamel Homes – Bed and Breakfasts will be located in the heart of Cape May – New Jersey in a neatly renovated and secured housing facility; a family home that is specifically designed and equipped with the needed accommodation facilities / gadgets to give comfort and security to our clients.

Joel & Jamel Homes – Bed and Breakfasts is a family owned and managed business that believes in the passionate pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to venture into the hospitability industry by establishing our own bed and breakfast business.

We are certain that our values will help us drive the business to enviable heights and also help us attract the numbers of clients that will make our accommodation fully booked all through the year. We are going to be a customer-centric bed and breakfast business with a service culture that will be deeply rooted in the fabric of our organizational structure and indeed at all levels of the organization.

With that, we know that we will be enables to consistently achieve our set business goals, increase our profitability and reinforce our positive long-term relationships with our clientele, partners (vendors), and all our employees as well.

Our accommodation facility will be decorated in an exquisite and elegant facade, so much so that it will be a conspicuous edifice in the city where it is located. Joel & Jamel Homes – Bed and Breakfasts will provide a conducive lodging for our customers to take a break from their busy days to a place where they can find comfort and luxury.

Joel & Jamel Homes – Bed and Breakfasts will be equipped with a mini business center, as well as a Fitness room and self-service laundry which will be made available for all our guests at no extra cost.

We will also install a free Wi-Fi that will enable our guests surf the internet with their laptop in the room free of charge, and there will be wireless access in all the public area within the lodging facility; we will also provide mobile phones for loan to business travelers for their convenience so as to enable them stay in – touch with their family members, friends, and business partners.

No doubt our business class guest rooms will provide our customers with a warm and comfortable home away from home. We are set to give our esteemed guests an unforgettable experience whenever they patronize our bed and breakfast lodge.

Joel & Jamel Homes – Bed and Breakfasts is a family business that is owned and managed by Anthony Jefferson and his family. The business will be run by all members of the family – Clara Jefferson (Wife), Joel Jefferson (Son) and Jamel Jefferson (Son). Anthony Jefferson has well over 15 years of experience in hotel management and He has a Master’s Degree in Hotel Management.

3. Our Products and Services

Joel & Jamel Homes – Bed and Breakfasts is set to operate a standard Bed and Breakfast service in Cape May, New Jersey. The fact that we want to become a force to reckon with in the hospitality industry means that we will provide our guests with fitness room, social room, and self-service laundry room and mini business center; for the purpose of business or leisure and more.

In all that we do, we will ensure that our guests leaves with an unforgettable experience that will make them want to come back as well as recommend our bed and breakfast lodge to their friends, family members and business partners. These are the services and amenities that will be made available to our guests;

• Breakfast (Tea and Bread, Coffee, and Snacks et al)
• Drinks (wines, beverages and non – alcoholic drinks)
• Gym and Fitness
• Self – service laundry room
• Mini Business center

4. Our Mission and Vision Statement

• Our vision is to establish a bed and breakfast lodging brand that will become the number one choice for both travelers in the whole of Cape May – New Jersey. Our vision reflects our values: integrity, service, safety, excellence and teamwork.
• Our mission is to deliver reliable, genuine, caring and excellent service superior to what our competition can offer in any location where our bed and breakfast lodge will be situated and to ensure that our bed and breakfast lodge enjoys over 90 percent occupancy in most parts of the calendar year.

Our Business Structure

The success of any business is to a larger extent dependent on the business structure of the organization and the people who occupy the available role. Although Joel & Jamel Homes – Bed and Breakfasts is a family run business will still work with a business structure that will give room to the minimal employees (mostly part – time employees) to explore their creativity, feel belong and full integrate into the business philosophy.

We will work hard to ensure that we only recruit the right set of people with the right mindset to help us achieve our business goals and objectives in record time. We intend building Joel & Jamel Homes – Bed and Breakfasts on this structure;

• Chief Executive Officer (Mr. Anthony Jefferson)
• Manager (Mrs. Clara Jefferson)
• Human Resources and Administrative Manager (Joel Jefferson)
• Accountants / Cashiers (Jamel Jefferson)
• Facility / Maintenance Manager (Part – Time Employee)
• Marketing Officer (Contract Worker)
• Cleaners / Washer men (Full – Time Employee)
• Security Officer

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Responsible for providing direction for the business
• Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for recruitment
• Responsible for payment of salaries
• Responsible for signing checks and documents on behalf of the business
• Evaluates the success of the organization
• Responsible for managing the daily activities of the business
• Ensure that the facility is in tip top shape and conducive enough to welcome customers
• Interfaces with vendors
• Ensures that customers feel relaxed and at home
• Handle customers enquiries
• Assess customers’ needs and preferences and make recommendations
• Attends to Customers complains and enquiries
• Prepares budget and reports for the organization
• Responsible for Training and Development in the organization
• Provides recommendations and suggestions to guest for choosing Drinks, food and Snacks.
• Serve customers in a friendly and helpful manner.
• Provides guidance to guests on resort activities, dining options and general resort and Regional information.
• Demonstrates a thorough knowledge of food and beverage products, menus and Promotions
• Handles procurement

Human Resources and Administrative Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily business activities.

Marketing Officer

• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with company policy
• Responsible for handling business research, market surveys and feasibility studies for the business
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, execute and evaluate new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps increase sales and growth for the company

Facility / Maintenance Manager

• Responsible for planning and overseeing building work/renovation
• Responsible for allocating and managing space within buildings
• Responsible for managing building maintenance activities
• Responsible for coordinating cleaning, catering and parking services
• Responsible for organizing security and general administrative services
• Ensures that facilities meet government regulations and environmental, health and security standards
• Advises on energy efficiency and cost-effectiveness
• Supervises multi-disciplinary teams of staff including maintenance, grounds and custodial workers

Accountant / Cashier:

• Collects payment for breakfast and drinks served and balance all receipts.
• Prepares financial report at the end of every working week
• Handles all financial transaction on behalf of the organization
• Interfaces with our bankers
• Responsible for payment of tax, levies and utility bills
• Handles any other duty as assigned by the CEO / microbrewery manager

Cleaners / Washer man:

• Handles and move objects, such as glasses, dish and bottles, using hands and arms.
• Cleans up after customers and clean work area.
• Clears ashtrays as and when required.
• Washes glassware and utensils after each use.
• Maintain a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and windows, etc. if required.
• Ensures that toiletries and supplies don’t run out of stock
• Responsible for handling laundry
• Handles any other duty as assigned by the restaurant manager,

Security Officer:

• Ensures that the facility is secured at all time
• Controls traffic and organize parking
• Gives security tips to staff members from time to time
• Patrols around the building on a 24 hours basis
• Submits security reports weekly
• Any other duty as assigned by the bed and breakfast manager

6. SWOT Analysis

Joel & Jamel Homes – Bed and Breakfasts is fully aware that they are coming into an industry that can be highly competitive which is why they have decided to pay attention to the SWOT analysis for the organization.

We know that once we are able to identify our strength, our weakness, our threats and the opportunity that is available to us, we will be able to come up with good business strategies that will help us achieve all our business goals and objectives.

Here is a of the result we got from the SWOT analysis that was conducted on behalf of Joel & Jamel Homes – Bed and Breakfasts Cape May, New Jersey;

Our area of strength cannot be farfetched; the location of our bed and breakfast lodge is perfect for such business, our management team has robust experience in the hospitality industry, our customer’s services is second to none in the whole of Cape May – NJ and our facility is top notch

Our perceived weakness could be that we are a new business, and we may not have the financial muscle to sustain the kind of publicity we want to give our business.

• Opportunities:

One thing is certain, our bed and breakfast facility is well – located in busy travel route; there are loads of travelers passing through Cape May hence there are loads of business opportunities for us. Besides we are the only bed and Breakfast within a 45 meters radius where ours is located.

Some of the threats that we are likely going to face as a bed and breakfast business operating in the United States are unfavorable government policies – the government may decide to place embargo on private residence not to engage in bed and breakfast business so as to enable people who want to rent accommodation get accommodations at a cheaper rate, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

The trend in the hospitality industry is such that there are peak periods and off peak periods, bed and breakfast lodges and hoteliers know this and they have been able to make provision to properly handle the change in season. For example, during summers or during any major sporting events or business summit in a city, most bed and breakfast lodges, motels, inns and hotels in the city are always almost fully booked.

As a matter of fact, that is the period that most people in the hospitality industry make the money that will sustain the business for the rest of the year. Be that as it may, some bed and breakfast lodges, motels, inns and hotels are well positioned and they enjoy rich patronage all through the 12 calendar month of the year.

Another known trend in the industry is that it is common to see some of the leading bed and breakfasts brand in the United States in different cities in the U.S. This was achieved because some of the leading bed and breakfast decided to venture into selling their franchise and at the same time operating chains of bed and breakfasts.

You can hardly drive through a community located along a major road or a tourist destination without finding a handful of signpost indicating that there are bed and breakfasts facilities in the community. This goes to show that there are loads of players in the bed and breakfasts industry. The reason for this cannot be far – fetched; accommodation is a necessity for travelers or tourists.

In essence, it is profitable to build your brand and then venture into the sale of franchise if you know you don’t have the capacity to manage various branches of your hotel .

Over and above, bed and breakfast lodges and hoteliers generally are quite aware that they in the industry not for quick returns on their investments, but to steadily build a brand that can become a global brand while growing their profits year in year out.

8. Our Target Market

It will be safe to say that the target market for bed and breakfast lodge cuts across adults of all class, race, religion, and culture that can travel from one location to another and can afford to lodge overnight. It is important to state, that the owner of a bed and breakfast can decide to welcome those who they consider safe for them to accommodate in their house (in cases where personal accommodation is used).

This is so because the owners of beds and breakfasts live under same roof they use in accommodating their guests that they most likely have never met before. So safety is always a source of concern for owners of beds and breakfasts.

Here are some of the group of people that we considered target market for our bed and breakfast lodge;

• Working class
• International and Local Tourists
• Top Executives
• Celebrities
• Young Couples (Especially for Honeymoon)
• Travelling Agencies
• Event Managers
• Religious Organizations

Our competitive advantage

The competitive edge of Joel & Jamel Homes – Bed and Breakfasts is the excellent and customized service that we offer to our entire guest irrespective of their status.

We can boldly say that the location of our bed and breakfast lodge is going to give us an edge over our competitors in Cape May – New Jersey. We are the only bed and breakfast lodge within our location. As a matter of fact, from the location of our bed and breakfast lodge, you can connect any part of the city with little or no stress.

Another significant competitive advantage that we are bringing to the industry is the robust experience of our management team. We have a team that has a combination of 25 years of experience in the hospitality industry in United States and Canada. They are considered core professionals in their own right.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Joel & Jamel Homes – Bed and Breakfasts is established with the aim of maximizing profits in the hospitality industry and we are going to go all the way to ensure that we do all it takes to attract guests on a regular basis and sign retainer – ship with most of our corporate clients.

Joel & Jamel Homes – Bed and Breakfasts will generate income by offering the following services for individuals and for corporate organizations;

10. Sales Forecast

We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.

We have been able to critically examine the bed and breakfast market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Cape May – New Jersey.

Below is the sales projection for Joel & Jamel Homes – Bed and Breakfasts, it is based on the location of our business consulting firm and the wide range of consulting services that we will be offering;

• First Year-: $100,000
• Second Year-: $200,000
• Third Year-: $450,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

It is important to clearly state that in this dispensation, customers use the Internet to find bed and breakfasts, to read reviews, to view facility available and the location of the bed and breakfasts; loads of processes have gone digital.

Which is why most bed and breakfasts are increasingly adopting technology and the internet for marketing and advertising their business and we are not going to be left out. These are some of the marketing ideas and strategies that are going to adopt for our bed and breakfasts business;

• Open our bed and breakfast lodge in a grand style with a party for all.
• Advertise our bed and breakfast lodge in travel and tours magazines, national dailies, Satellite TV stations and Radio station
• Promote our business online via our official website and all available social media platform
• Continuously Improving the performance of our brands
• Hire the services of experts to make our brands the first choice for guests
• Delivering consistent customer experiences to all our guest; making our first impression count positively
• Continuously Improving the efficiency of our bed and breakfast lodge and operating processes
• Ensure that we put our market scale and knowledge to good use
• Building strong partnerships within our industry and with our stakeholders across the United States
• Make use of attractive hand bills to create awareness and also to give direction to our bed and breakfast lodge
• Position our signage / flexi banners at strategic places
• Create a loyalty plan that will enable us reward our regular customers
• Engage on road shows within our neighborhood to create awareness for our bed and breakfast lodge.

11. Publicity and Advertising Strategy

Joel & Jamel Homes – Bed and Breakfasts is in the hospitality business to make profit and we can only make profit if we steadily increase our customer base. No doubt, in order to remain relevant in the hospitality industry as a bed and breakfast lodge in Cape May – New Jersey, we will continue to create hype around our business brand.

We will ensure that we leverage on all conventional and non – conventional publicity and advertising technique to promote our bed and breakfast brand. Here are the platforms we intend leveraging on to promote and advertise Joel & Jamel Homes – Bed and Breakfasts;

• Encourage our loyal customers to help us use Word of Mouth (referrals)
• Promote our business online via our official website
• Sponsor relevant community programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand
• Install our Bill Boards on strategic locations
• Engage in road show from time to time
• Distribute our fliers and handbills in target areas

12. Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than our competitors are offering in the United States of America.

Be that as it may, we have put plans in place to discount our products and services once in a while and also to reward our loyal customers.

• Payment Options

Our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our bed and breakfast lodge;

• Payment by cash
• Payment via Point of Sale (POS) Machine
• Payment via online bank transfer (online payment portal)
• Payment via Mobile money

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any difficulty.

13. Startup Expenditure (Budget)

When it comes to starting a bed and breakfasts business, loads of factors influences the amount that will be required to successful launch the business. Factors like the location you intend starting the business, the size of bed and breakfast business you want to start i.e. the number of rooms et al, and of course the state of the economy as at when you intend start the business.

Here are the key areas where we intend spending our start – up capital;

• The Fee for registering the business in the United States -$725.
• The budget for legal fees, insurance, permits and license – $5,000
• The amount needed to renovate our Facility (electrical, furnishings, plumbing, painting and landscaping) – $10,000.
• The Cost for the purchase of room furniture, kitchen equipment and gadgets (mattresses, bed sheets, blankets, pillows, beds, fridges, smoke detector, TVs, microwave oven, Sound System, tables and chairs et al) – $10,000.
• The Cost for supply of breakfast ingredients for a month – $1,000.
• The Cost of Launching a Website – $600
• The cost opening party – $5,000 (optional)
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $5,000

Going by the report from our research and feasibility studies, we will need an average of $70,000 to start a small scale but standard bed and breakfasts business in the United States of America. Please note that this amount is excluding the cost of renting a facility because we are going to be making use of free rooms in our apartment.

Generating Funding / Startup Capital for Joel & Jamel Homes – Bed and Breakfast

Joel & Jamel Homes – Bed and Breakfasts is a family business that will be owned by Mr. Anthony Jefferson and his family. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings and sale of his stocks
• Generate part of the start – up capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $20,000 (Personal savings $15,000 and soft loan from family members $5,000) and we are at the final stages of obtaining a loan facility of $50,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is easier for businesses to survive when they have steady flow of business deals / customers patronizing their products and services. We are aware of this which is why we have decided to do all we can to continue to attract guest to our bed and breakfast lodge on a regular basis.

We know that if we continue to deliver excellent services, there will be steady flow of income for the organization. Part of the grand plan of sustaining Sean and Sharon hotel is to ensure that we provide the best of trainings for our employees, put a succession plan in place, and we will not relent in marketing and promoting our hotel brand.

From our findings, another factor that kills new business is financial leakages. In order to plug financial leakages, the management of Joel & Jamel Homes – Bed and Breakfasts will adopt the use of payment machine and accounting software to run the business.

In the bid to building a successfully business, we will ensure that all our employees are comfortable and we will provide them with the best of facilities and welfare package that will help them achieve peak performance in all their duties and in turn help the organization achieve its goals and business objectives.

Check List / Milestone

• Business Name Availability Check:>Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Remodeling our facility: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, mattress, bed sheets, pillows, duvets, electronic appliances, office appliances and kitchen utensils: In progress
• Creating Official Website for the Company: Completed
• Creating Awareness for the business both online and in the neighborhood: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Establishing business relationship with vendors – suppliers of all our needed food ingredient for breakfast and toiletries: In Progress

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Download Bed and Breakfast Business Plan Template + PDF

Putting up a bed and breakfast is the ideal business for those who want to venture into the hospitality industry, but wanting to keep it on a small scale. Also known as a B & B, this business has been around for generations to provide visitors with comfortable lodging, memorable meal, and different experience than staying at a chain hotel. 

Like all other businesses, you need to have a business plan when it comes to starting your own bed and breakfast. This shouldn’t be written just for formality. This document will serve as a roadmap giving you a clear direction where your business is heading. It is also a helpful plan when you’re looking for investors for your bed and breakfast. Though there are successful businesses that got started without writing a business plan, it’s better to err on the safe side and improve your chances of profitability by going through this process. 

So how do you make a bed and breakfast business plan? This guide will help you in getting started as well as provide you with a downloadable bed and breakfast business plan template and a sample PDF of what a finished plan looks like.

Executive summary

Bed and breakfasts offer a unique lodging experience for guests.

All business plans start with an executive summary. This is a brief description of what your bed and breakfast is all about so that when one reads it, they’ll be able to get a gist of the whole business. Different sections such as an introduction, a company description, the services you offer, and your target customers are all placed here. 

Do note that every section doesn’t have to be lengthy. Just a paragraph per section should suffice provided that it gives one enough information to know what your B & B is. 

Introduction 

It is best to start your B & B business plan with a simple introduction. Include the place where your business is located and the amenities you provide. You may also include other important details that set your B & B apart from others. Will it be a themed bed and breakfast? How many rooms will it include? Remember to keep this section brief. You’ll be providing the details in the later part of your business plan.

Here’s a sample of a brief introduction:

Happy Mornings is a 6-bedroom bed and breakfast located at Saint Augustine, Florida overlooking Matanzas Bay. The house is a modern-style home with simple basic amenities including Wi-Fi and cable. We provide comfortable and clean beds along with a variety of delicious breakfast choices. Happy Mornings is also located near tourist spots in St. Augustine that is convenient for travelers.

Keep it short and easy to understand but as you can see, you’ve already given away what your business is all about without providing too much for now.

Company description

Good morning!

Now that you’ve gone past the introductions, you can put in more details regarding the bed and breakfast’s background. For instance, you can include who runs Happy Mornings and the job description they hold. Most bed and breakfast businesses are run by couples who live on the premises while some are run by a single owner. Don’t forget to state the roles of the owners briefly for the reader to discern what the operations look like.

Bed and breakfast businesses are expected to cater to two things which are simply comfortable rooms and breakfast. But through the years, B & Bs have also provided other services to their guests which include basic tour packages and massage packages. Your B & B doesn’t necessarily have to provide this in-house. You can just partner up with a travel agency and a spa to offer special rates for the guests who booked a stay with you.

If your bed and breakfast has a large garden out back, you can also provide the space up for rentals such as for wedding receptions and birthdays.

Mention all the services you plan to provide but keep this section brief as well. You’ll have the chance to explain all this in detail in the Product Line and Services section provided for it in the business plan.

Customer Focus

Did you know that not all bed and breakfast establishments are for everyone? B & Bs mostly cater to honeymooners, couples, and solo travelers. A detailed demographic can be provided at the Market Analysis portion of your business plan but briefly stating your target market in a bullet form list should give the reader an idea of how intimate and cozy you’d like your bed and breakfast to be.

For instance, we stated that Happy Mornings is located in Florida. Though this state is known for its theme parks, the bed and breakfast is specifically located in St. Augustine which is well-known for its historical sites and old town sceneries ideal for couples rather than big families with kids of young ages.

Mission statement

What’s your B&B mission statement?

Mission statements work as a vision for your business. Think of it as the core foundation of your bed and breakfast. This helps steer you in the right direction when it comes to making work decisions for your inn.

Let your mission statement answer the following questions:

• What does your bed and breakfast aim to provide?
• Will your business cater to more than just the usual breakfast meals?
• What does your bed and breakfast have that will stand out among the rest?

By having a mission statement on the ready, not only will you as the owner be able to know what your business is aiming for but will also allow your future investors and even your staffs know the standards you are upholding.

Company concept

You may now get a little deeper in describing what your bed and breakfast is all about in this section of your business plan. If there were details you wanted to write down in your Executive Summary but couldn’t expound further, now is the chance.

Let us take Happy Mornings, for example. We have mentioned earlier that Happy Mornings is overlooking Matanzas Bay so this inn would have a beautiful view of a pier with boats docked along the front. Here you can describe why your bed and breakfast is different than the others because of the view, the fresh breeze, and the easy access to boat rentals. Have fun with this section as much as possible by bringing everything your bed and breakfast has to offer.

Here are additional points you can cover in this section:

• What kind of breakfast will you be serving?
• Will you be offering a social night hour for your guests every weekend?
• Do all rooms have en suite bathrooms? Does your inn have showers or bathtubs?
• What are the rates of your rooms?

Market analysis

A cute bed and breakfast in Vermont.

The Market Analysis section of a business plan may get into the technicalities of your bed and breakfast but this is for a good purpose. Here, you’ll be able to tackle your target market, analyze the bed and breakfast industry in your area, and check out the competition. This will all help you plan out better for your business, see the weak spots early on, and what other things you can do to improve.

Target Market

We mentioned your customer focus briefly back in our Executive Summary. This time, you can write it down here in detail.

According to this article , there are four types of guests that book their stays with B & Bs:

• Leisure Travelers – These may be couples on their honeymoon or people from out of state who wish to take a short break.
• Business Travelers – These are people who are in the area for a meeting or to attend a conference.
• Solo Travelers – Backpackers commonly search for bed and breakfast inns because of how convenient and affordable it is.
• Group Travelers – These include families that are on vacation or visiting to attend a reunion.

Remember to take into consideration the concept of your bed and breakfast. If you’re into giving a more intimate feel for your inn, then it’s best to mainly focus on leisure travelers, business travelers, and solo travelers.

Industry Analysis

Before putting up your business, you must study the trend for bed and breakfasts and hostel accommodations in your area. Is there a growth in the industry over recent years? If so, where is this growth coming from? This could also help with your target market so you’ll know the age group you should be focusing on when you’re marketing your business.

Competitive Analysis

Let’s be real here. Bed and breakfasts have been around for so long that the competition has been tough. Aside from hotels, Airbnb is one of your main competitors. Not only are they the next affordable thing to the usual bed and breakfasts but their reach is quite large due to their brand name.

But that doesn’t mean the classic bed and breakfasts are going downhill. If studied, managed, and marketed well, your business will also be a success. For instance, Airbnbs focus on renting out their spaces wherein the hosts don’t even meet the guests, while bed and breakfasts allow hosts to interact with the guests and can even arrange for social night hours so guests can mingle with one another.

Management structure

Offering a unique experience is part of the appeal of B&B’s.

Writing down a clear and detailed Management Structure helps in running your bed and breakfast smoothly. This section will include who is running the business and the employees you plan to have. Include the stakeholders as well and everyone else who has roles in running your bed and breakfast even though the tasks that are required of them is not done daily.

This section is important because it defines the duties each person will be performing. This eliminates misunderstandings and hard feelings in the future. This will also serve as a job description guide when you’re hiring for employees.

You can divide this section into two subcategories:

• Management Team – Owners and their roles such as who is in charge of hiring and training the staff, who is doing the purchasing for supplies, who is in charge of  marketing, legal duties, bookkeeping, and other administrative roles.
• Hiring Plan – The employees you plan to hire such as housekeeping, chef, and maintenance.

Product line and services

We mentioned earlier that a bed and breakfast is expected to cater to accommodations and breakfast meals. In this section, indicate specifically the rooms you are offering up. How many square meters is the space? How many rooms will have single beds, double beds, or queen-sized beds? Are the bathrooms shared? How much is the room per night on regular, off, and peak seasons? Present this in a tabular form so it’s easier to read and go through the data.

You also need to include the type of breakfast you’re serving. Will it be buffet style or will you provide a set menu? What are the options, continental or American breakfast? Will you be serving snacks in the afternoons and cocktails at night? Be as specific as possible because chances are your guests are going to want to know all of these before choosing your B & B. You’ll also need these details for marketing.

Remember to also indicate in detail what you’re offering up other than accommodations and food. Can you recall the tour package and massage package we mentioned? You can include that and many others you have planned for your business.

Sales and marketing

Timeless Victorian homes are ideal for converting into a B&B.

How can you get your bed and breakfast out there for everyone to see? When it comes to bed and breakfasts, getting your business a website first usually helps. This is where guests can come to check out all the details they need to know. Be sure to include directions on how to get to your location, photos of every room along with its amenities, the services you offer, a booking and reservation page, and contact details for when the guests would like to ask for more information.

It’s also best if you apply your bed and breakfast for a listing on online lodging reservation sites like Airbnb. These sites are where travelers usually go to first since it’s easier to compare prices and locations. But take note that this means you’ll also be competing with several other bed and breakfast places. This is why your concept, location, and room rates are of utmost importance.

You’ll also have to keep up with the times and start marketing your business on all social media platforms but also remember that even ads on newspapers and radio stations still get much coverage so include them in your marketing plans as well.

Financial plan

This is the part of the business plan that’s going to include a lot of numbers that are going to hit you in the gut. But don’t worry because this section is what you need in order to push through with your business. Knowing your financial plan will make things easier for you during the beginning stage of putting up your bed and breakfast and will also be helpful for you to compute costs and expenses in the long run.

Funding Request

In this section, discuss how you’re going to acquire the funds to start your business. There is a lot of work to be done when it comes to running a bed and breakfast. For instance, will you be renovating your old home or will you be buying an old house and fix it up? Having fewer rooms will get you to spend less in renovating them but there’s also following the local laws that require you to update some fixtures.

An article from Entrepreneur states that the estimated renovation costs for a guest room in a large property can reach $35,000 to $50,000 while rooms in smaller properties range from $20,000 to $40,000. So where are you going to get all that capital? 

Loaning from the bank is one option. So be sure to list down everything you could be spending on. That includes fixing the lights, renovating floorboards, and the roof for any leaks. Include the new mattresses and bed frames you’re going to purchase and the silverware and plates for your dining area. Remember, the bank will want to see your financial plan before they approve you for a loan.

Other options for funding may come from retirement savings and investments from your partners. 

Financial Forecast

It is extremely helpful to have a financial forecast for your business. Analyze your break-even point for your bed and breakfast to know your monthly target so you’re aware if your business is getting enough profit or is suffering from any loss.

Operational plan

Take the time to build an operation plan to provide a consistent customer experience.

This part of the business plan is simply to put down the timeline of how your bed and breakfast is going to come about. Here’s an example:

This doesn’t have to be very complex. This timeline of your operational plan will keep you moving to reach your goals which are to eventually reach break-even.

This is the place to put all your documentation such as legal documents, permits, payroll plans, logo designs and photos of your bed and breakfast.

• Bed and breakfasts require the use of social and managerial skills so keep in mind that if you’re the owner and if you plan on getting hands on with this kind of business, then you must be a people person since you’ll be managing your staff and dealing with your guests a lot whether that may be their concerns or just checking up on their comfort.
• Getting a lot of details down matter. Don’t skip out on any of the possible expenses. It’s better to overestimate your expenses than be too far under and have to come up with cash unexpectedly. 

Remember that business plans are a way to help you forecast how your bed and breakfast is going to look like. It’s going to tell you whether or not you can push through with the business and how much you’ll be able to profit from it.

Download the templates

• Bed and breakfast plan template in Google Docs
• Bed & Breakfast Business Plan Template in PDF

Some people feel a little disheartened when they find out that after doing a business plan, they’ll see some failing results. But what they don’t realize is that the business plan already saved them from investing in something that wasn’t going to work in the first place or give them a chance to spot some variables that they need to work on.

So are you ready to write your business plan? Download our bed and breakfast business plan template and this sample PDF to get started.

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Bed and Breakfast Business Plan Template [Updated 2024]

Bed and Breakfast Business Plan Template

If you want to start a Bed and Breakfast business or expand your current Bed and Breakfast, you need a business plan.

The following Bed and Breakfast business plan template gives you the key elements to include in a winning B&B business plan.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Bed and Breakfast Business Plan Sample

Below are links to each of the key sections of an example Bed & Breakfast business plan. Once you create your plan, download it to PDF to show banks and investors.

I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

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B&B Business Plan Outline

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• Etiquette And Manners

The Unwritten Rules Of Bed-And-Breakfast Stays, According To B&B Owners And Experts

Be mindful of other guests

• Take advantage of breakfast

Ask for recommendations

Don’t be afraid to make new friends, soak in the full experience.

• Support your B&B owners

Courtesy of Sugar Magnolia Bed and Breakfast

When you’re traveling, there’s a time and place for every type of stay. Big hotel amenities like valet service, gyms, and room service are great for business trips, and a short-term home rental might be ideal for a family reunion or girl’s weekend. But when I’m looking to truly get to know a destination, I always choose to stay at a bed-and-breakfast. Giant resorts can offer all the perks they want, and boutique hotels may tout their individualized attention, but no place exudes hospitality and charm like a bed-and-breakfast.

Often B&Bs are housed in historic homes, which means there’s a story behind every scratch in the hardwood floor or nick on the wall. And in my experience, there has always been a friendly innkeeper around to tell that story and make me feel more than right at home.

If you’re inspired to stay at a bed-and-breakfast, there are a couple of unwritten rules you’ll want to brush up on before checking in. To give you the scoop, we went directly to the source and solicited tips from some of our favorite B&B owners across the South. Beyond just simple dos and don’ts, our expert council gives advice on how to make the most of your next bed-and-breakfast stay. After enjoying a weekend of home-cooked breakfasts and thoughtful care, you’ll never want to book a standard hotel room again.  

·   Tiffany and Chris Wimsatt are the owners of Lake Guntersville Bed & Breakfast in Guntersville, Alabama.

·  Becca and Joel Graham are the owners of Friendly City Inn Bed & Breakfast in Harrisonburg, Virginia.

·  Kyle Mijares is the inkeeper at Friendly City Inn Bed & Breakfast in Harrisonburg, Virginia.

Our panelists all agree that noise level is a major consideration when staying in a bed-and-breakfast. “B&Bs are often older homes and sound travels easily,” says Kyle Mijares, the innkeeper at the Friendly City Inn in Harrisonburg . The Wimsatts, owners of Lake Guntersville B&B in Alabama, agree, pointing out that B&Bs are often intimate retreats and “not the place for midnight partying.” To make sure you’re being considerate of those around you, the Grahams, who own Friendly City Inn, suggest reading house rules and policies before or at the beginning of your stay so you can be aware of quiet hours and other guidelines.

Take advantage of the “breakfast” aspect of a bed-and-breakfast

One of the best parts of a staying at a bed-and-breakfast is knowing you’ll wake up to a freshly prepared, home-cooked meal each morning. And you won’t have to jump in the car or walk more than down the hall to get it.

B&B owners tend to have a passion for cooking and feeding their guests, so the Wimsatts recommend keeping an open mind when you come down for your morning meal. “Branch out and try new dishes,” they urge. “Yes, we can make you fried eggs over easy, but why not try that on a warm croissant with parsley, melted provolone cheese, avocado, bacon, and a smear of garlic aioli?”

On the other hand, it’s important to remember that at a B&B you’ll have just one or two folks attending to your needs and not a whole staff. Let your hosts know as early as possible if you have dietary restrictions that they need to be aware of when preparing your meals, and if your B&B has a breakfast sign-up time, don’t be late!

My favorite thing about staying in a bed-and-breakfast is having easy access to local recommendations. You can trust your host to give honest insight into the best restaurants, activities, and hidden gems you won’t find in your average travel blog or book. “We love sharing about our town and our favorite spots,” says Becca Graham. So don’t be shy to ask!

Cedric Angeles

When staying at a B&B, you’ll likely run into other guests during breakfast and when hanging out in common spaces. Stop for a chat on the front porch or invite someone to join your game of cards by the living room fireplace. “These are great opportunities to meet new people from all over the world or someone who may live right in the same area as you,” says Tiffany Wimsatt.

“Take time to smell the roses—literally or figuratively,” advises Graham. “A stay at an inn is a great opportunity to slow down and relax.” The Grahams recommend paying attention to the unique architectural and design elements of your B&B and learning about the history of the house to truly appreciate where you’re staying.

Leave your keys

This isn’t a "room card as a souvenir" situation! All of our B&B experts emphasized the importance of leaving your room key behind when you check out.

Make yourself at home

While you might not lounge around a hotel lobby in your PJs and slippers, that type of behavior is absolutely expected and encouraged at a bed-and-breakfast. “The B&B is our home, and when you are in it, be prepared to be taken care of as our family guests,” the Wimsatts say. “Relax and enjoy the hospitality!”

On the flipside of that, it’s courteous to treat a B&B as you would your home. That means using a napkin when you grab a freshly baked cookie from the lobby (and not leaving a trail of crumbs to your room!) and remembering to use a black not white towel when taking off your makeup.

Support your B&B owners

As small, often family-owned operations, B&Bs rely on positive reviews and word of mouth to stay in business. If you enjoy your B&B stay, consider telling a friend or leaving an online review. But be careful with your ratings, says Graham. “A 4-star review is a bad review. If you enjoyed your stay, leave a 5-star review. It’s not just a nice thing to do, but it makes a huge difference in SEO and rankings,” she says.

Related Articles

Where to stay in Lubbock? A list of unique Airbnbs, bed and breakfasts to stay at

Visiting Lubbock for a Texas Tech football game? Or just want to have a staycation?

Whatever the reason, ditch the ordinary hotels and opt for a unique experience you can only have in Lubbock. Here is a list of six unique Airbnbs and bed and breakfasts to stay at in Lubbock.

The Bruno Steel House

Located just outside of Lubbock in Ransom Canyon, individuals can stay in this steel house by the lake.

Listed on Airbnb, the house is described as a "once in a lifetime opportunity to spend the night inside a sculpture." It features three bedrooms and two and a half bathrooms — accommodating eight guests.

Visit airbnb.com for more information.

Woodrow House

Roll out of bed and walk onto the Texas Tech University campus. Located at 2629 19th St., this bed and breakfast is mere feet from the campus and offers 10 rooms to stay in — each decorated with a different theme.

However, there is a reason that it made it onto this list. Woodrow House offers guests the opportunity to sleep in a train caboose car. The car features a kitchenette, a private shower and bath, a couch bed and a queen-size bed.

Visit www.woodrowhouse.com for more information.

The Getaway Era

Didn't get to make it to Taylor Swift's Eras Tour this past summer? Well, why not spend the weekend with some friends in a T-Swift-themed Airbnb in Lubbock?

Located in South Lubbock, the rental features four bedrooms — each themed after one of the singer's albums — accommodating up to eight guests. And yes, there is a nod to T-Swift's current boyfriend — Travis Kelce.

Are you ready for it? Visit airbnb.com for more information.

The Smiley Bush House

If you've ever been to or lived in Lubbock, then you might know the lore of the house on 58th Street and Indiana Avenue that has a shrub with a cut out of a smile placed on it. The bush grew in status as its owners dressed up the bush in various costumes to match the season theme or occasions.

Now, people have the opportunity to stay in a house that can accommodate nine guests. Visit airbnb.com for more information.

Evermore Lubbock

Want something more artsy? Why not have a mural that encapsulates the essence of Lubbock and West Texas in the place where you are going to stay?

Situated just west of the Texas Tech campus, the Evermore LBK Airbnb is a private house with three bedrooms and three bathrooms that can accommodate six guests.

Described as "the perfect place to relax and make memories with family and friends," the house also features an outdoor fire pit for individuals to gather around.

806 Yellow House

Looking to connect with the past with modern amenities? This place might be just right for you, and it's easy to find.

Located in the Historic South Overton Neighborhood, this 1930s cottage is filled with vibrant vintage furniture to match its exterior, which has been painted yellow.

Featuring three bedrooms and two and a half baths, this place is described as a place that has ample room to spread out and relax.

Know a place that should be added to this list? Email [email protected].

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EAA AirVenture eyes opportunities for spillover from Republican National Convention

OSHKOSH, Wis. — Last year more than 677,000 people attended AirVenture in Oshkosh .

What You Need To Know

The republican national convention is expected to bring about 45,000 people to milwaukee events like eaa airventure are hopeful some delegates will explore other parts of the state while here the rnc and airventure are just a week apart in their july dates.

It’s possible the event could see a few more faces this year thanks to the Republican National Convention in Milwaukee the week prior.

“Having something like the Republican National Convention, especially the week before EAA AirVenture, certainly is one of those once-in-a-lifetime situations that you have to consider and contend with and say, ‘Are there any opportunities there?’” said Dick Knapinski, the director of communications for the Oshkosh-based Experimental Aircraft Association.

EAA’s massive AirVenture convention and airshow starts July 22 — just days after the RNC wraps up.

It also has a year-round museum that’s a stop for tens of thousands of people each year.

“There’s the economic possibility. How many of those delegates are just coming in for the three days or four days of are they going to stay for a while in Wisconsin and explore and so forth?” Knapinski said. “If they choose to explore after the RNC, we certainly hope they consider AirVenture and consider EAA and coming our way.”

The Republican National Convention is expected to bring about 45,000 people to the state, with an economic impact of about $200 million in the Milwaukee area.

Oshkosh is about 90 minutes from Milwaukee.

Further north, Nick Meisner of Discover Green Bay said that community could be a stopping off point for some delegates.

“We do anticipate some spillover into Green Bay being the closest metropolitan area to Milwaukee, but we’ll see,” he said.

That’s a sentiment reflected by tourism officials in other communities north of Milwaukee.

“We need to look at those weekends and see if we’re starting to see the impact,” Meisner said.

Knapinski said AirVenture organizers are expecting another big year after setting an attendee record last year.

“Ticket sales are very strong, similar to what we say in 2023 and 2022, so that’s a real good harbinger of what might be coming forward,” he said. “We’re starting to prepare for those types of numbers.”

Related Stories

Ripon hopeful rnc visitors will trek to republican party birthplace convention fest allows wisconsin businesses to set up shop on the rnc grounds bed and breakfast reaps benefits of 2024 republican national convention bookings.

Don't bother with copy and paste.

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Bed and Breakfast Inn Business Plan

Start your own bed and breakfast inn business plan

Magnolia Inn

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

The Magnolia Inn is a beautiful facility that sits atop a bluff overlooking the Pacific Ocean in scenic Half Moon Bay California. The Inn offers seven individually furnished rooms, each with its own antique theme. We are a complete bed and breakfast Inn with a full complementary breakfast served each morning to our guests. Magnolia’s target market strategy is based on becoming a destination of choice for professional couples in the greater San Francisco Bay area who are looking for a place to relax and recharge. We will also advertise to the newly married couple who is looking for that special get away. It will be important for us to be visible to those potential guests who are traveling on Highway 101 through Half Moon Bay.

The Magnolia will have an eye catching sign that will alert potential customers and drop-ins of our existence. We will use the Yellow Pages in the Bay area to market our Inn, as well as a Web page on the Internet which will focus on the features the Inn has to offer. Each room will be displayed with its unique decor, as well the outside of the Inn showing the beautiful gardens and views of the Pacific Ocean. Attractions within 30 miles of the Inn will be displayed with information about our shuttle service, room rates and directions. The Magnolia is confident that it will not take long to build a following that will put us at full capacity within the next year. The Inn would like to see steady growth with a average of over 90% capacity for Year 1, with profits also growing at a rate of 10%.

Jim and Nancy Anderson are the sole owners of the Magnolia and live at the Inn year around. The Andersons are hands-on owners who oversee every aspect of the Inn’s operations. A small staff consisting of a cook and a maid will work at the Inn. The cook will work 20 hours per week and the maid will be on the payroll 40 hours per week as she will also help Nancy take reservations and watch the front desk when needed. Nancy will oversee the inside operations working with the maid and cook as well as taking reservations. Jim will oversee the maintenance of the Inn and grounds and drive the van to shuttle guests when the need arises. Both Jim and Nancy will promote the Inn and oversee the advertising.

1.1 Mission

The Magnolia Inn intends to provide a serene setting for our guests to enjoy the many splendors of the beautiful California coast. Each guest will be treated with the kind of attention that is reserved for family. When our guests arrive we want them to leave their troubles at the door and step into a world of luxury and rest. As owners we intend to see that attention to detail and service will be followed by a staff dedicated to each guest.

1.2 Keys to Success

The primary keys to success for the Inn will be based on the following factors:

• Provide a facility that is first class with attention to detail.
• Give each guest a sense that he or she is our top priority.
• Provide quality meals.
• Retain our guests to ensure repeat bookings and referrals.

1.3 Objectives

• Generate a customer satisfaction rate above 90%.
• Generate an average of $26,000 of sales each month.
• Stay above 90% occupancy each month.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

The Magnolia Inn is a beautiful facility that sits atop a bluff over looking the Pacific Ocean in scenic Half Moon Bay California. We are a new start-up enterprise that will offer seven wonderfully furnished rooms to guests who want to get away from the ordinary. Each room is individually furnished with antiques and there is a large deck with a hot tub overlooking the ocean. The Magnolia will provide a full breakfast each morning to our guests with no expense spared. Our target market is the professional couple who lives in the San Francisco area, or people looking for a place to honeymoon.

2.1 Company Ownership

The Magnolia Inn is owned and operated solely by Jim and Nancy Anderson. Jim and Nancy have refurbished a beautiful victorian home to accommodate 14 guests at a time in seven rooms. This is a start-up enterprise for the Andersons who are equal owners in the business. Jim and Nancy purchased the property a little over a year ago and have worked this past year preparing to open the Inn.

2.2 Start-up Summary

The start-up costs will come to $38,000 (including cash required at start-up) which will be primarily financed by Jim and Nancy Anderson. Joe Anderson, Jim’s father has contributed $15,000 into the enterprise. The costs of improvements to the building totaled $30,000. Jim and Nancy purchased the property a year ago with the intent of renovating and opening the business.

The Magnolia Inn provides four-star lodging on the beautiful central California coast. We are a complete bed and breakfast Inn with a full complementary breakfast served each morning. Seven impeccable rooms, each with its own theme are ready to embrace the individual who is looking for solitude, or the more adventurish person who likes to be active. We offer van trips to various locations of interest if guests are interested.

Market Analysis Summary how to do a market analysis for your business plan.">

The Magnolia Inn’s target market strategy is based on becoming a destination choice for people in the greater San Francisco Bay region who are looking for a place to relax and recharge. The target markets that we are going to pursue are people looking for a vacation destination, Honeymooners, and drop-in customers. We envision many professional married and single customers making the short drive to Half Moon Bay from the greater Bay area to relax and enjoy the beautiful California coast. Our setting and facility is a natural for people looking for a place to spend their honeymoon. With an eye catching sign on highway 101 we will bring in drop-in business. The Magnolia would like to see a 10% increase of potential customers on a yearly basis.

4.1 Market Segmentation

The profile of our customer consists of the following geographic and demographic information.

Geographics

• Our immediate geographic market is the San Francisco Bay area with a population of over one million people.
• A 200-mile geographic area would want to use the kind of services we offer.
• The total target area population is estimated at two million people.

Demographics

• Male and female.
• Married and single.
• Combined annual income in excess of $75,000.
• Age range of 25 to 65 years. with a median age of 40.
• Work in a professional business setting.

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4.2 Target Market Segment Strategy

Our target market strategy is based on becoming a destination for people who are looking to get away for a few days, on the beautiful California coast. Our marketing strategy is based on superior performance in the following areas:

• Quality facilities.
• Beautiful location.
• Customer service.

The target markets are separated into three segments; “Vacationers,” “Honeymooners,” and “Drop-ins.” The primary marketing opportunity is selling to these accessible target market segments that focuses on vacation and recreational needs.

Vacationers The most dominant segment of the three is comprised of the San Francisco Bay and surrounding area. Half Moon Bay is approximately a 45 minute drive for Bay area residents. Half Moon Bay can seem like a different world and this is attractive for those people who have the need to get away but do not have the time to go far.

Honeymooners Because of the beauty and location of our Inn, we will be a very attractive choice for people looking for a honeymoon location.

Drop-ins When rooms are available we will welcome the drop-in customer who is looking for a place to stay for the night. Our sign can be seen from highway 101 and we expect to get quite a few drop-ins.

4.3 Service Business Analysis

The Magnolia Inn is a seven room facility that provides over night lodging and breakfast in a luxurious setting on the beautiful California Coast. There are several other Inns in the area as well as motels. Most people who need lodging in the area make reservations in advance to assure room availability. Two other Bed and Breakfast Inns, the Riptide Inn, and the Bayshore Inn are our main competitors.

4.3.1 Competition and Buying Patterns

Typically in this industry the consumer is someone who is not just looking for a room to sleep in, but a facility that provides a homespun touch. A place that is unique and offers more personalized customer service. Because each Inn is offering something unique to the guest, customer service and quality of the facilities are at the forefront of importance. Location is also important and those Inns with an ocean view have an advantage, but with the limited number of rooms at Inns in the area there are enough customers to match the supply. The Magnolia will not be competing on price as the price of a room is on the high end of the scale. Guests at the Magnolia are paying for more than just a room, they are paying for a oasis away from their hectic world.

Strategy and Implementation Summary

The primary sales and marketing strategy for Magnolia includes these factors:

• To offer a bed and breakfast facility that will appeal to the busy professional.
• To provide unmatched customer service to our guests.
• To concentrate our marketing in the greater San Francisco Bay area.

5.1 Competitive Edge

The Magnolia Inn sets itself apart from similar competition in the following ways.

• Location : The sheer beauty of our setting is a huge plus. Nestled on a bluff with a panoramic view of the Pacific Ocean the Magnolia is the ideal place to take in mother nature. Beautiful magnolia trees and a garden area makes this setting a truly magnificent place.
• Our rooms : Each room is individually decorated with antiques that are tasteful but comfortable. You feel as if you have stepped back in time, as luxury is present at every turn.
• Customer service : Customer service is our number one priority. The Magnolia will treat each guest as if they are family.

5.2 Marketing Strategy

Our marketing strategy is based on becoming a destination for vacationers and honeymooners who are looking for truly beautiful and unique lodgings. With the greater San Francisco Bay area our main target market the Magnolia will use several different approaches to advertise our facility. We will use the Yellow Pages to advertise, as well as develop a Web page that will show our beautiful Inn. On highway 101 we will have an eye catching sign that will alert potential drop-ins of our existence. The Magnolia is confident that it will not take long with word-of-mouth from past customers, to build up to full capacity.

5.3 Sales Strategy

Our prime location with a beautiful ocean view and a quality facility will be an attractive choice for our potential customers. Each room is decorated individually with antiques and quality furnishings made to feel just like home. A hot tub on the deck overlooking the ocean is provided for our guests. A first class breakfast is served each morning with no expense spared. Guests will have several options on our menu so that we can accommodate most tastes. There are several fun and interesting destination spots within 30 minutes of the Inn and we will have a van ready to shuttle guests if they need the service. The Magnolia guest will feel pampered and will leave for home well rested.

5.3.1 Sales Forecast

The sales forecast table is broken down into two main revenue streams: Reservations and Drop-ins. The sales forecast for the upcoming year is based on a 10% growth rate for direct sales. The Magnolia has seven rooms to offer its guests at a rate of $175.00 per night. We expect the rate of rooms occupied to increase as the year progresses. In spite of the economic unpredictability we are experiencing, these projections appear attainable and take the increasing base into consideration. Growth rates for the years 2005 and 2006 are based on percentage increases as follows:

• Reservations: 10% growth rate per year.
• Drop-ins: 10% growth rate per year.

5.4 Milestones

The milestones table below outlines key activities that will be critical to our success. Owners Jim and Nancy Anderson will take care of these important activities.

Web Plan Summary

The Magnolia Inn website will focus on the features the Inn has to offer. Each room with its unique decor will be on the site as well as pictures of the Inn and the surrounding gardens and grounds over looking the Pacific Ocean. The breakfast menu will be displayed with pictures of the food laid out in the dining room. Room rates will be given with maps on how to get to the Inn. Attractions within 30 miles will be on the site and other local color will be shown. Reservations can be made online if the consumer wishes to do so.

6.1 Website Marketing Strategy

Our website marketing strategy will focus on professional couples who are looking for a vacation destination that is both close and elegant. The Bay area will be our main focal point. The Magnolia will promote through our website by using:

• Detailed photos of the Inn and surrounding area.
• Price list of our rooms and a menu of our breakfast.
• Maps from many points of the Bay area that lead to the Inn.

6.2 Development Requirements

Management summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">.

Jim and Nancy Anderson are the sole owners of the Magnolia Inn. A small staff consisting of a cook and maid will work at the Inn. The rest of the tasks will be done by Jim and Nancy. Jim is responsible for the outside maintenance of the grounds and of the Inn. He will also drive the van for guests when the need arises. Nancy will organize the day to day operations on the inside and handle reservations. Both Jim and Nancy will promote the Inn through the advertising methods discussed in the marketing strategy section. Nancy will also work with the cook to purchase the food served at the Inn.

7.1 Personnel Plan

Jim and Nancy sold a small motel a year and a half ago with the intent of finding the ideal location for a bed and breakfast. The personnel plan consists of Jim and Nancy’s schedule plus that of the staff. Stacie, our cook will work 20 hours per week and will help with the shopping for the supplies. Carol will work full time preparing rooms and helping with taking reservations and watching the Inn when Jim or Nancy cannot be there. Jim and Nancy will live at the Inn with their own quarters on site. Jim’s dad will receive $500 dollars each month until the $15,000 dollars he invested is payed back. The total payroll equates to $111,000 including the $57,000 dollars that Jim and Nancy will take out as their salary.

Financial Plan investor-ready personnel plan .">

The Magnolia Inn expects business to grow steadily until we are at an average of over 90% capacity for the year 2004 with a conservative capacity rate of 50% expected at times. We will be growing slowly with profits growing at a rate of about 10%. Expenses will be well managed, allowing Magnolia to make a profit even if the capacity rate drops as low as 50%.

8.1 Important Assumptions

The following critical assumptions will determine the potential for future success.

• A healthy economy that supports a moderate level of growth in our market.
• Keeping operating costs as low as possible, particularly in the areas of personnel and our ongoing monthly expenses.

8.2 Break-even Analysis

The following chart and table summarize our break-even analysis. Our fixed costs will be $17,000 per month at the onset and we expect to reach the break-even point within the first few months of operation.

8.3 Projected Profit and Loss

The following represents the Projected Profit and Loss for the Magnolia Inn based on sales and expense projections for 2004 and beyond.

8.4 Projected Cash Flow

The Cash Flow projections are outlined below. Again, these projections are based on our basic assumptions with revenue generation factors carrying the most significant weight regarding the outcome. We are anticipating that we will not need to invest any additional capital into the business with a healthy cash flow in place.

8.5 Projected Balance Sheet

The Balance Sheet in the following table shows sufficient growth and a very acceptable financial position. The monthly estimates are included and shown in the appendix.

8.6 Business Ratios

Business ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC) code 7011.0401, Bed and Breakfast Inns are shown for comparison.

The following will enable us to keep on track. If we fail in any of these areas we will need to re-evaluate our business mode:

• Month-to-month annual comparisons indicate an increase of 10% or greater.
• Do not depend on credit line to meet cash requirements.

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Money blog: 'Stealth tax' on Britons' incomes to stay until 2028

A squeeze on people's incomes due to frozen tax thresholds will continue until 2028, with the Tories and Labour confirming they wouldn't end the "stealth tax". Read this and the rest of today's consumer and personal finance news below, and leave your thoughts in the comments box.

Thursday 30 May 2024 19:16, UK

• 'Stealth tax' on incomes to remain until 2028, Hunt says
• Think twice before buying clothes from Zara before your holiday
• Scotland to introduce tourist taxes
• Prospective parents putting off having children by cost of living crisis

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• Best of the Money blog - an archive

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McDonald's customers have taken to social media to complain about a "naughty" detail in one of its new deals. 

The fast food giant started a new mix and match deal this week - which allows shoppers to pick up three items for just £3 in store.

However, those ordering online have found the price increase to £4 for the same deal. 

Writing in the Extreme Couponing and Bargains UK group, one user shared a screenshot of her My McDoanld's app, writing: "It's gone from 3 for £3 to 3 for £4. Which is odd, or is that cause it's on the app."

Another branded the price difference "naughty". 

McDonald’s has since confirmed that this price is correct on app.

The increase is due to delivery fees charged by couriers like Uber Eats, Deliveroo and Just Eat - and is fairly standard across the industry. 

Sony Music is reportedly in talks to purchase the entirety of rock band Queen's music catalogue in a deal mooted to be worth some $1bn (around £800m). 

Bloomberg reports  the company has partnered with another anonymous investor to engage Brian May, Roger Taylor, John Deacon and the estate of Freddie Mercury over a sale that would be the largest of its kind.

Queen Productions Ltd, of which the bandmates and Mercury's estate are equal shareholders, recorded revenues of $52m in the year that ended in September 2022. 

This comes after the catalogue of Bruce Springsteen was acquired by Sony in 2021, while rival Warner Music bought David Bowie's songbook for around $250m in 2022, as industry giants battle to invest in songwriting catalogues. 

They are seen by many as attractive investments as the music can be used in future films, advertisements and on the radio - which all produce royalties for the rights owners. 

A squeeze on people's incomes due to frozen tax thresholds will continue until 2028 under Tory plans, Jeremy Hunt has confirmed.

Rishi Sunak introduced a freeze on tax-free personal allowance thresholds (the amount you can earn before you start paying tax) when he was chancellor back in 2021. In his autumn 2022 budget, Mr Hunt extended the time it would need to be in place from 2026 to 2028.

The frozen rates mean many have failed to feel the benefit of a the national insurance cut which kicked in this year.

The Office for Budget Responsibility also estimates the static rates will drag an additional four million people into paying tax by 2028 and push three million into a higher tax bracket. This is because wages will go up alongside inflation but the threshold won't. 

The policy is often referred to as a "stealth tax".

Mr Hunt told BBC Radio 4's Today programme today: "The tax rises that happened as a result of the pandemic and the energy shock, these two giant shocks, will stay for their allotted time period."

But he reiterated the Conservatives' pledge to end the freeze after 2028, saying: "I can absolutely undertake that the threshold freeze that we introduced until 2028 will not continue after that."

The Tories have said they will unfreeze the thresholds for pensioners if they win the election.

Labour has also refused to commit to unfreezing overall tax thresholds.

Sir Keir Starmer said earlier that he believed the tax burden on working people was "too high" but that his party was not going to "make commitments that we cannot afford".

"Therefore I'm very clear about the tax that will remain and will be locked and where we cannot make those commitments," he said.

What are the tax thresholds and what do they mean?

The personal tax allowance is frozen at £12,570. You don't pay income tax on anything you earn below that - anything above is taxed at the 20% base rate. At the same time, the higher rate has been frozen at £50,271 - anything above that is taxed at 40%.

Tom Selby, director of public policy at AJ Bell, said the personal allowance, if it had been inflation-linked since 2021-22, would be forecast to rise to £15,989 by 2028 - nearly £3,500 higher than the frozen threshold.

Tourists headed to Scotland for holidays will face a tourist tax for hotels, bed and breakfasts and holiday lets.

The Scottish Parliament passed the Visitor Levy (Scotland) Bill two days ago, meaning local authorities can set a charge for overnight accommodation.

According to the bill, the fee will be a percentage of the cost of a hotel or other room.

For instance, a 1% levy on a £200 booking means a visitor would pay £2 in tourist tax.

However, any charges or levies will not come into effect until spring 2026, as councils will first have to consult local businesses before carrying out an 18-month implementation period.

Those receiving disability benefits will not pay any charges, with children and young people also exempt.

Ministers will also have the power to set a cap on the number of nights where a levy would apply.

It will also be up to councils if they want to put a charge in place - but with Holyrood research suggesting 17 of Scotland's 32 councils backing the plans, it is likely some visitors will be hit by charges.

Scotland's employment and investment minister Tom Arthur said on Tuesday the charge would be a " force for good", suggesting it "has the potential to be an important tool enabling investment in the local economy, and supporting an important industry".

However, Scottish Conservatives argued there needed to be a more "robust" exemption scheme, with housing spokesman Miles Briggs saying: "Scots will be pretty unhappy when they realise that they will have to pay a 10% tax to stay in a hotel when their house is flooded."

The new law means Scotland joins Manchester, Bournemouth, Christchurch and Poole in charging tourists to stay the night.

Manchester's £1-a-night City Visitor Charge was introduced last April, and is estimated to have raised around £2.8m in its first year.

European hotspots like Barcelona and Venice have also introduced tourist taxes, with the Spanish city charging visitors €3.25 if they're staying in official accommodation.

Workers posing as Disney favourites such as Mickey Mouse, Minnie Mouse and Snow White in California have formed a union - Magic United.

There are roughly 1,700 performers and assistants who help to bring popular characters to life at Disneyland near Los Angeles.

Disney has faced allegations of not paying them a living wage, despite many facing exorbitant housing costs and commuting long distances.

Parade performers and character actors earn a base pay of $24.15 (£19) an hour, up from $20 (£15.75) before January.

Read on here... 

Nike is celebrating a partial victory over rival brand Adidas in court, as it has been permitted to put three stripes on some of its clothing designs in Germany.

The decision came during a second appeal hearing between the two sportswear brands at a regional court in Dusseldorf.

The court previously barred Nike from using two or three stripes on five trouser designs due to a lawsuit filed by Adidas in 2022, which is on a mission to protect its trademark three-stripe design.

Following the appeal, Nike can now use the stripes on four disputed trouser designs, while a ban for one is still in place.

Adidas has filed dozens of lawsuits and signed hundreds of settlement agreements related to its three-tripe design since 2008.

The Conservatives and Labour have ruled out VAT hikes if either party wins the election.

Jeremy Hunt, the chancellor, said tax rises on products and services would "hammer families' finances", while shadow chancellor Rachel Reeves said Labour did not plan to raise tax, national insurance or VAT.

The pledges come after the Institute for Fiscal Studies said the next UK government would face the toughest fiscal inheritance in 70 years.

Ms Reeves said: "I want taxes on working people to be lower, not higher."

New tax rises were restricted to those policies already announced, such as a plan to charge 20% VAT on private school fees, she said.

Writing in The Telegraph, Mr Hunt said: "We won't increase the main rate of VAT for the duration of the next Parliament."

He continued: "A VAT increase will hammer families' finances and push inflation back up."

He urged Labour leader Sir Keir Starmer to make a similar commitment "on camera".

Follow all the latest election campaign news live in the Politics Hub ...

People who bank with TSB have had trouble getting into the mobile app this morning.

Many took to social media to report difficulty logging in to their accounts.

The official X account of TSB, responding to several complaints about the app being down earlier, said: "We're aware that customers are experiencing issues with our digital services. We're sorry for any inconvenience and are working hard to resolve it."

One customer reported that the app had remained down overnight:

In an updated statement, the bank said the issue has now been resolved.

"We're sorry for any inconvenience it caused," it said.

By Daniel Binns, business reporter

Shares in Auto Trader have rocketed more than 13% to a record high this morning.

It comes after the company reported a bumper set of results for the 2023/24 financial year - including a 26% rise in group operating profits.

The online car marketplace says recent demand has been strong - and it expects its performance to continue.

Dr Martens is also up on the FTSE 250 index - despite revealing it suffered an almost 43% fall in pre-tax profits during the 12 months to March (read more below...)

Its shares climbed more than 9% at one point earlier this morning, but have since eased back to almost 6%.

The British footwear brand has said it is "confident" it can revive its fortunes and says it plans to make savings of up to £25m to turn things around.

Elsewhere, the FTSE 100 is pretty flat - it opened 0.2% down but is currently up by a tiny 0.03%.

Mining firm Anglo American is among the companies hit by falls this morning.

Its shares have dropped by just over 1% after its rival BHP Group walked away from a proposed £38.5bn takeover of the company.

On the currency markets, £1 buys $1.27 US or €1.17 (or €1.1753, to be precise).

It comes after the pound reached a 19-month high against the Euro at one point yesterday - with £1 equalling €1.1784 - before later dropping back down.

The cost of a barrel of benchmark Brent crude has dipped slightly compared to yesterday. The price is $83 (£65).

If you're heading to Spain this summer and might get some of your holiday clothes from Zara, you might be better off waiting until you're over there.

The Spanish company sells items much cheaper over there - whether it's women's, men's or kids' clothes.

You can search prices in English on their Spanish website to get an idea of how much you'd save. 

We found big potential savings on just about every item we looked at - and the savings are even bigger than usual, with the pound reaching a two-year high against the euro yesterday.

For example, this white mini dress with ruffled hem is €27.95 in Spain but £32.99 (or €38.74).

A black dress described as "flowing voluminous" is €29.95 over there, but £35.99 (€42.27) in the UK.

These men's "balloon fit" jeans are €35.95 in Spain, but £45.99 (€54.01) in the UK.

A double-breasted blazer suit and trousers is €129.9 in Spain, but in the UK you'd pay £158.99 (€186.72).

Finally, a ruffled gingham kids' jumpsuit is €22.95 compared with £25.99 (€30.52).

Martin Lewis first highlighted these potential savings in 2015 when he wrote: "This isn't just about Zara similar pricing structures apply for other members of the same group, Massimo Dutti, Pull & Bear and Uterqüe."

A Zara spokesperson told the Money blog: "Zara's fashion offer is the same in the over 200 markets where it is available: quality, well-designed products at compelling prices. 

"These prices do vary between markets due to a number of factors which include shipping costs and exchange rates."

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Donald Trump, Elon Musk, and Nelson Peltz met for breakfast, where they criticized Joe Biden and brought along their sons Barron, X, and Diesel

• Elon Musk had breakfast with Donald Trump and Nelson Peltz in March, The Wall Street Journal reported.
• The men shared gripes about Joe Biden's performance as president and talked about voter fraud, .
• It's one example of how much relations between Musk and Trump have warmed up.

You can trace the warming relationship between former President Donald Trump and Elon Musk to some eggs, bacon, and fruit on a Sunday morning.

The two men met with Nelson Peltz in March at Montsorrel, Peltz's estate in Palm Beach, Florida, the Wall Street Journal reported Wednesday. The three talked about this fall's presidential election and took similarly critical stances on President Joe Biden's administration, according to the Journal.

The meeting was first reported by the New York Times in March. Trump sought major donations to his campaign from multiple GOP donors who were there, the Times reported.

Related stories

Also on the agenda was a "data-driven" project to combat voter fraud that Peltz and Musk have been discussing. They first mentioned the project to Trump at the breakfast meeting, the Journal reported. Voter fraud in the US is rare . However, it has become an interest of Trump since he falsely claimed that he won the 2020 presidential election.

The three billionaires also brought their sons with them to the breakfast. Diesel Peltz, Nelson's son, was at the event, as were Barron Trump, the former president's 18-year-old, and X, Musk's toddler, the Journal reported.

The meeting is one example of an apparent turnaround in the relationship between Musk and Trump. As recently as a few years ago, Musk called Trump a "bullshitter."

Now, Musk is under consideration for a role advising Trump if he is re-elected this November, the Journal reported.

"President Trump will be the only voice of what role an individual plays in his presidency," Brian Hughes, a spokesman for the Trump campaign, told the Journal in response to the report about the breakfast meeting and a potential role for Musk at the White House.

Representatives for the Trump campaign and Musk did not immediately respond to requests for comment from Business Insider.

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