Date
Milestone
(MM/DD/YY)
(Milestone 1)
(MM/DD/YY)
(Milestone 2)
(MM/DD/YY)
(Milestone 3)
[Sender.Company] will serve the leisure travel market of (Enter location) and its immediate surrounding area.
The market we serve is value-conscious and has a desire for high comfort and basic amenities geared towards family and comfort travel.
(Add other relevant statistics related to your unique audience).
The demographic profile of the target market can be seen below:
| (Enter location) | (Enter location) |
---|---|---|
Total population: | | |
Area size: | | |
Population density: | | |
Males: | | |
Females: | | |
Based on age group | ||
18-24 | | |
25-34 | | |
35-44 | | |
45-54 | | |
Target population based on income | | |
Income $50,000 to $74,999 | | |
Income $75,000 to $99,999 | | |
Income $100,000 to $124,999 | | |
Income $125,000 to $149,999 | | |
We will primarily target the following market segments:
(List the market segments your bed and breakfast will target.)
[Sender.Company] directly or indirectly competes with all B&Bs within the local area. Competition will come from inns, motels, and hotels. However, recent statistics shows that the biggest competitor to mid-level bed and breakfasts are midscale and upscale hotels.
The strengths that will set [Sender.Company] apart from competitors include:
(List strengths)
Below is [Sender.Company] ’s initial service offerings and amenities provided.
Studio Apartment-style VIP Rooms for long-term stays
Two double beds or one queen bed
Modern bathroom
Daily cleaning
(Add facilities)
Sitting room area with workspace, couch, and TV.
California king bed
1 Luxury bathroom with jacuzzi and shower
Breakfast, lunch and dinner offerings
Afternoon tea
The [Sender.Company] brand will focus on the Company’s unique value proposition, which is:
Offering rooms suited for families and business travelers and services
Offering a central location in the downtown area
Providing excellent customer service
[Sender.Company] expects its target market of leisure travelers to be mainly from the US and surrounding locations in the (Enter location). The Company’s promotions strategy to reach these individuals includes:
Public relations, advertising, social media, ongoing customer communications, pre-opening events, operations plan.
In order to execute on [Sender.Company] ’s business model, the Company needs to perform many functions, including the following:
General and administrative functions, including legal, marketing, bookkeeping, etc.
Sourcing and storing supplies for the B&B and conference space
Hiring and training staff
Corporate sales to individuals and groups
Housekeeping to keep the rooms and communal areas clean at all times
Check-in focused on customer service
Janitor/maintenance personnel to keep the B&B equipment and appliances in working order
[Sender.Company] is led by [Sender.FirstName] [Sender.LastName] who has been in the B&B industry for (Enter number of year) years. As such [Sender.FirstName] [Sender.LastName] has an in-depth knowledge of the B&B business, including the operations side (e.g., running day-to-day operations) and the business management side (e.g., staffing, marketing, etc.).
[Sender.FirstName] [Sender.LastName] will serve as the B&B CEO. In order to launch our bed and breakfast, we need to hire the following personnel:
Housekeeping staff (five to start)
Bed and breakfast Manager (will manage day-to-day operations of the B&B)
Assistant Manager (will manage bed and breakfast operations nights and weekends)
Service Staff (four full-time to work check-in and guest services – allowing for at least one staff person to be on duty at all times)
Annual income / profit/loss statement.
Income Statement / Profit/Loss Statement | |||||
---|---|---|---|---|---|
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
Total revenue: | | | | | |
Cost of services sold: | | | | | |
Gross profit: | | | | | |
Operating income: Interest expense | | | | | |
Pretax income: Taxes: | | | | | |
Net income: | | | | | |
Cash Flow Statement | |||
---|---|---|---|
| Jan ‘23 | Feb ‘23 | Mar ‘23 |
Starting cash balance: | | | |
Cash received: Cash from operations: Cash from sales: | | | |
Subtotal cash received: | | | |
Additional cash received: (List sources) | | | |
Subtotal additional cash received: | | | |
Total cash received: | | | |
Expenditures: (List all expenditures) | | | |
Total cash spent: | | | |
| | | |
Net cash flow: | | | |
Ending cash balance: | | | |
Assets and Liabilities | |||||
---|---|---|---|---|---|
Current Assets: | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
Cash | | | | | |
Accounts receivable | | | | | |
Inventory | | | | | |
Prepaid expenses | | | | | |
| | | | | |
Fixed Assets: | | | | | |
(List all) | | | | | |
| | | | | |
| | | | | |
Total Assets: | | | | | |
| | | | | |
Liabilities | | | | | |
(List all) | | | | | |
| | | | | |
| | | | | |
Total Liabilities: | | | | | |
The confidential information and trade secrets described above shall remain the exclusive property of the Company. They shall not be shared or removed from the Company’s premises under any circumstances whatsoever without the express prior written consent of the coaching business.
Please find listed below any additional addendums related to [Sender.Company] :
(Add any relevant addendums)
[Recipient.FirstName] [Recipient.LastName]
Care to rate this template?
Your rating will help others.
Thanks for your rate!
Search business resales.
McGovern Escrow Services
415-735-3645
McGovern Escrow Services, Inc., is a leading independent escrow company. We are a trusted partner with our clients, assisting them through the tangled bulk sale & liquor license transfer process. We provide attentive, quality & innovative customer service. Phone Elizabeth McGovern at 415-735-3645.
Serving San Francisco Bay Area, North...
View Profile
BizBen Inc.
408-667-6406
BizBen.com is a leading online marketplace dedicated to facilitating the buying and selling of small to mid-sized businesses and franchises in the United States. With over 30 years of experience, BizBen.com offers a comprehensive platform that connects business buyers, sellers, and intermediaries.
Serving Nationwide - All Areas
Sunbelt Business Brokers
661-332-9401 Cell, 661-332-9401 Text
John Willingham, CBI, CCIM, Sunbelt Business Advisors & Brokers of Kern, Fresno, Tulare County is dedicated to providing the best possible venue for bringing buyers & sellers of businesses together. Professional, confidential brokerage services to buyers & sellers. 661-332-9401 Cell/Text.
Serving Kern County, Fresno, Tulare,...
Hughes Properties
760-275-6914 Cell, 760-323-8311
Business broker & President of Hughes Properties. I have a wide variety of entrepreneurial experience with personal ownership & sales of numerous businesses, and have sold over 200 small & mid-sized businesses in the Riverside County, California marketplace. Phone/text me at 760-275-6914 Cell.
Serving Riverside County, Coachella...
Parallel Advisors
415-231-2123,
Parallel Advisors is an independent wealth management firm headquartered in SF. We combine our wealth advisors and in-house CPAs to provide in-depth tax, investment, & wealth planning for our clients when dealing with a life transition, the sale of a business, retirement, or a liquidity event.
Serving California
New Century Escrow, Inc.
626-890-1151 Direct
Helen Yoo at New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.
Serving Southern California
California Business Escrow, Inc.
888-383-3331, 209-838-1100
California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.
Serving All Of California
Big Block Realty
714-488-4341 Call/Text, 424-413-1216 Call/Text
Member of CABB/IBBA, these professional organizations provide us with many analytical tools to help guide us in the evaluation process of your business.
Alcoholic Beverage Consulting Service
800-437-1100
If your business involves alcoholic beverage sales, we can help. Obtaining a liquor license transfer or selling a business with a license in California does not have to be a frustrating and overwhelming process. We have procured thousands of licenses for our clients.
PBI Laundry Consulting
619-227-5711
Laundry consulting, due diligence, buyer representation: We preview laundries for you and evaluate them. 28 years laundry industry experience: buying, selling, valuing, retooling, analyzing, consulting services for laundry buyers and entrepreneurs in California. Contact us today about our services.
The Veld Group
310-652-8353
The Veld Group provides a refreshing approach to Business Brokerage, Mergers & Acquisitions and Business Consulting and Valuations. From Your Street to Wall Street, we cater to Main Street Businesses as well as more complex Strategic Firms and Start-Ups.
Vangaurd San Francisco
415-309-2722 Cell
Cheryl's a restaurant business broker, over 25 years in the bar and restaurant industry coupled with a J.D. Cheryl works tirelessly to create successful strategies and effective negotiations for those who wish to purchase a new or sell an existing bar, restaurant, cafe, or night club. 415-309-2722
Serving City Of San Francisco
415-735-3645
Serving San Francisco Bay Area, North Bay, Central Valley
What is your goal in 5 years? Do you want to become a business owner? Buying a business can be an exciting, safe opportunity to gain financial freedom. But how to buy the right business? This article will walk you through the process of buying a business.
To start a business or try something new, starting a franchise business is a great option. In this blog, we'll break down everything you need to know about buying a franchise in simple, easy-to-understand terms. This guide is for business owners, whether experienced or new.
Peter Siegel, MBA
Often business buyers actions cause a deal to tank but they never know why. Peter Siegel with the BizBen ProBuy Program discusses what mistakes business buyers make in the search process to buy a business with some of the best business brokers and recent sellers on BizBen about this topic.
Tim Cunha, JD
In my opinion and experience, an LOI may very well be appropriate for lower middle market transactions of $5,000,000 or more; but, for deals less than that an Asset Purchase Agreement ("APA") with contingencies on the actions of the buyer (and seller) is much more efficient and effective.
Some entrepreneurs believe it's better to start a business from scratch rather than buy an existing enterprise. While this may be good advice in some cases, usually it's not the best strategy. Here are five tips to help a buyer make the right decision from Peter Siegel, MBA On BizBen.
First impressions are critical when selling a business - ask any potential business buyer. Peter Siegel, Founder Of BizBen explains why all potential small business sellers need to make sure that first impression is a good one.
When seeking large SBA business acquisition financing loans, it helps to review seller's add backs (cash flow analysis) as a source of funding to service the debt. Peter Siegel, MBA - SBALoanAdvisors.com Founder covers this specific topic for business buyers, owner/sellers, agents, business brokers.
In my experience working with the "right banks and financial institutions" repayment ability sometimes overrules collateral pledged by someone needing financing for a business purchase or a down payment. Peter Siegel, MBA - BizBen's ProBuy, ProSell Lead Facilitator explores this important topic.
Should owners who offer a business for sale reveal to prospective buyers any income that is not recorded in the books? This is a controversial topic with arguments both for and against. Most business sales intermediaries believe if you don't pay tax on it, you can't claim it. Some sellers disagree.
Most business acquisition financing strategies involve borrowing money to meet the purchase price. But an entirely different approach, equity sharing, is sometimes pursued if borrowed money is not wanted, or is not available to complete the purchase. Peter Siegel, MBA - BizBen.com covers this topic.
Buying a small to mid-sized business can be a confusing and/or frustrating process for many buyers. Statistics show that over 80% of all buyers never end up buying a business. The ProBuy Program assists potential buyers with the process of finding, evaluating & buying a small to mid-sized business.
Peter Siegel, MBA discusses buyers who want to buy a business or franchise know about asking the seller to provide part of the financing with a carry-back note. Many business buyers need some cash to help fund the down payment and for working capital. Here are four ideas about how to get that money.
With the multitude of factors that come into play when deciding the appropriate time to inform your employees that your business is for sale, I do not offer a standard or general answer. When sellers consult me as to my opinion on when it is the right time, I like to review the major issues that...
What are actual adjusted net earnings (cash flow) of a small business being purchased with business acquisition SBA Loan financing? That's an important amount that lenders need to know. Peter Siegel, MBA (BizBen.com, SBALoanAdvisors.com Founder) reviews this important concept with BizBen Blog users.
Selling a business is hard enough but using the wrong word, text, and strategy can really delay or outright kill a campaign to sell a small business successfully. Peter Siegel, MBA Founder of BizBen.com shares what words, phrases, and strategies work (and not) when selling a small business online.
The unfortunate truth is that approximately 50% of all small business sales transactions fall through. While failed transactions can happen for a variety of reasons, Peter Siegel, MBA (BizBen Founder & Lead Advisor) discusses the most common reason deals fall through; unrealistic asking prices.
The use of add backs & sellers discretionary cash is common among sellers of businesses when showing their financial information & explaining that the buyer will actually enjoy more profit than is shown. But buyers are cautioned to review documents closely. Peter Siegel, MBA with BizBen explains.
Owners should keep the fact that they want to sell their small business confidential. Before releasing information to prospective buyers, buyers should commit to confidentiality in writing & should understand why it is important. Peter Siegel, MBA a ProBuy and ProSell Advisor with BizBen explains.
First the dreaded statistic: 80% of all business buyers looking to buy a small business never end up doing so! Peter Siegel, MBA BizBen.com Founder & ProBuy Director) covers successful tactics & strategies all business buyers of small to mid-sized businesses should utilize now to buy a business.
SBA large loan expert and advisor Peter Siegel, MBA (BizBen.com & SBALoanAdvisors.com Founder) shares his views and experience for getting the right SBA loan for larger deals, getting deals professionally prequalified & analyzed, and getting that loan through underwriting with fewer complications!
Many times when buying a business there are reasons why buying stock or buying assets is the better business decision. We explore these options on the BizBen Blog Post of which option may be better depending on the circumstances of the buyer (and seller) involved in the transaction taking place.
Many business owners fail to maximize their business' value because they don't have a proper strategy in place to do so. Failure to maximize your businesses value will make it harder to attract the most qualified buyers. Have a plan that ensures your business is as attractive & valuable as possible.
A business buyer in our ProBuy Program searching to buy a business asked me to sum up what I though the biggest mistakes business buyers make when they search for and bought a small business. I asked ProIntermediaries on BizBen their thoughts on the matter and received a diverse response.
It is not uncommon for business Owner/Sellers to get uncomfortable when a potential Buyer requires a SBA loan to purchase the Seller's business. Often times Owner/Sellers will say "the Buyer is the one getting the loan; why am I the one under the microscope?" This blog post addresses this topic.
Depending on the type of business being sold, a month-to-month situation can be severely detrimental to the value of the business. Peter Siegel, MBA Founder of BizBen (and Lead Facilitator at BizBen) explores the issue of month to month leases in this blog/article.
Throughout the recession, it was very difficult to get approved for business purchase financing. If you are considering incorporating some alternative funding sources in your next small business acquisition, here is what you need to know to protect yourself and your investment.
Using an earn out can benefit both buyer & seller of a business purchase. A recent question by a buyer in the BizBen ProBuy Program about the best way to structure a business earn out prompted me to ask a panel of BizBen Resources how they would deal with the buyers question on earn out structures.
In this month's Business Buyer survey for BizBen.com, we asked participants in our ProBuy Program and 250 other random business buyers what they look for and avoid when looking at a business for sale postings online. Of the 20 potential posting characteristics we asked about, 8 stood out.
Vito Ranieri
For those who don't know, a non-compete agreement is a contract between a buyer and seller of a business, which after the sale, prohibits the seller from engaging in direct competition with the business they previously sold. Joe Ranieri (Business Broker) adds this topic to a BizBen Discussion Post.
In our BizBen.com June 2021 Monthly Report the top ProIntermediaries and ProAdvisors on BizBen offer their thoughts about the current status of the business for sale marketplace with trends and predictions for Business Buyers, Owner/Sellers, Business Brokers, Agents, Advisors in the near future.
Sometimes business brokers just can't win with their clients, because if an offer comes in too fast & too early then they must have lowballed the price & the seller is suspicious, and if not enough offers come in after putting the business on the market - they may look unproductive to their clients.
As the year winds down, it's tempting for business brokers to go through their old files and throw them out to make room for new client's folders, but that would be foolish. Joe Ranieri (Orange County Business broker) discusses strategies for saving files - a key annual strategy for brokers/agents.
When seeking SBA loan financing many potential business buyers have wrong information about the process of securing the best financing to buy a business. Peter Siegel, MBA a business purchase financing expert delves into the myths regarding SBA financing and business purchase financing.
We're hearing more and more about "crowd funding" through sites like gofundme and kickstarter as a possible way to raise the cash needed to buy a small business. This method of collecting funds has proven successful in other kinds of situations. Could this strategy work when buying a small business?
We all understand the idea of paying too much for a small business. But is there such a thing as not paying enough? That seems like an odd notion, but I'm familiar with situations in which a buyer acquired a small business for a figure substantially under what probably was market value.
Buying a small business is hard enough when there is no competition, so how might a buyer navigate the process when there is additional competition from other buyers? Peter Siegel, MBA (BizBen ProBuy Program) and others explain a few of the ways that a buyer can beat out other buyers.
When purchasing a small to mid-szied business, there are a multitude of things to evaluate. One area that is often overlooked is the business's culture. Peter Siegel, MBA with BizBen discusses with potential buyers the importance of understanding how the business runs on a day-to-day basis.
Negotiating the terms of a business deal is a delicate process, where one wrong move can cost you the business that you wanted to purchase. Peter Siegel, MBA (BizBen ProBuy Program) discusses the ins and outs of negotiations, and how to work well with the seller to get a deal done.
It's important to remember that selling a business takes time. Unlike selling a house, which can be sold relatively fast, a business can take up to six months to a year to sell. I discuss this topic with other advisors and intermediaries on this BizBen Discussion.
There are a lot of misconceptions about what enhances the value of a business. The following factors in this Discussion are aspects of a business that really drives its value and pricing. A business owner asked me this question today so I wanted to get others view points as well in this Discussion.
It can take months, sometimes longer to sell a small business. Here are 6 questions plus other information from myself plus other BizBen Users to ask yourself to help you determine why your small to mid-sized California business isn't selling. You might be surprised what those reasons are!
Should I Sell My Business During The Holidays Or Wait Till After The New Year? Business Broker Joe Ranieri and others chime in on this BizBen Discussion about selling a business during the Holiday Season.
Applying for a business acquisition loan can be challenging for someone who hasn't been through that process in the past. If one has a mortgage one knows that the value of the property being pledged has to at least equal the amount of the loan, SBA loans to buy a small business are very different.
Yes, there are ways to find businesses with growth potential that can be purchased with modest investments. But before offering any ideas about finding cheap businesses, it's important to review some of the risks involved. Peter Siegel (BizBen ProBuy Program) discusses this topic with others.
Rob Hartman
At What Point Do You Show Key Marketing Info And Materials To Buyers? Robb Hartman, Business Broker at BizBen discusses this topic with others on this BizBen Discussion.
Business buyers many times ask in my ProBuy consulting sessions - how long should I ask for due-diligence when buying a small business? The answer really depends on several factors. They include: type of business, demand for the business, complexity of the business. Advisors weigh in on this topic.
The owner selling the business doesn't have recent financial information or documentation but insists revenues are increasing. Should buyers believe the seller? What should buyers do in this situation? ProIntermediaries on BizBen answer the question of verifying seller / owner's financial claims.
When considering buying a business that is losing money one has to be very careful. There are reasons that the business could be losing money that aren't fatal or extremely difficult to fix and there are other reasons that should send you running in the other direction. Peter Siegel, MBA explains.
Asking the seller straightforward questions and getting straightforward answers in return is an important part of the buying and due diligence process. In this Discussion, both ProIntermediaries and Advisors offer thorough questions you should be asking during your meeting with a business seller.
Valuing a small business is not guess work. It's not what some other businesses of the same type may have or may not have been sold for, it's not even what a business owner "feels" they want or deserve. It is a formula based on many factors. Peter Siegel, MBA from BizBen & others discuss this topic.
Written by Dave Lavinsky
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 >
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.
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.
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.
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.
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.
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:
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:
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:
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.
Don’t you wish there was a faster, easier way to finish your business plan?
With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!
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
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:
Think about ways you will outperform your competition and document them in this section of your 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:
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.
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.
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.
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 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.
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:
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.
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.
Starting a bed and breakfast business is easy with these 14 steps:
Learn more about how to start your own bed and breakfast business .
Don’t you wish there was a faster, easier way to finish your Bed and Breakfast business plan?
Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.
Click here to hire someone to write a business plan for you from Growthink’s team.
Find and book unique breakfast rentals on Airbnb
Guests agree: these breakfast rentals are highly rated for location, cleanliness, and more.
The Coach House
The Coach House is located on our mountain top horse and lavender farm. We offer youth summer camps so are set up for fun outdoor adventures and activities. Have fun with our horses, goats, and chickens! You can take a 10 min walk over to Nonno's Restaurant for wine/pizza/BBQ and bacchi ball, or take an 8 min drive into Los Gatos, or 15 min to Santa Cruz for the beach and some of the best restaurants and spas around!. Good for couples, solo adventurers, business travelers, kids, & behaved dogs!
San Jose, Downtown, Cozy Craftsman Duplex
You will enjoy your own private living space. Duplex. Our place is a beautifully restored Craftsman home, spacious, clean, and wonderfully appointed for a very comfortable stay. I’m available on the premises next door if you need anything. Near the end of a leafy, quiet street close to downtown San Jose. We are close to San Jose Airport, Convection Center, Train/Bus station, highways 280, 101, and 87. NOTE: We are compliant with COVID-19 cleaning guidelines to keep our quest and ourselves safe.
Rustic Cabin in the Redwoods
Tucked among the redwood trees on top of King's Mountain, this 1 bedroom cabin offers both rustic charm and modern luxury. Property owners live onsite in the main house about 30 feet away from the cabin. Located just 20 minutes off HWY 280, this cabin is the perfect weekend retreat for those looking to get away from the bay area without actually leaving. Spend time relaxing in the pool, hiking or biking one of the nearby trails, or just reading a book while sitting among the redwood trees.
Parc Fermé- quiet, spacious, private, & tranquil
Quaint wooden car bridge over an oak tree lined creek welcomes you in. Mature landscaping outside & homey, comfortable accommodations inside. Centrally located to San Francisco, San Jose, The Napa Valley, Walnut Creek, Oakland, & Berkeley. A 15 minute walk or six minute drive to Bay Area Rapid Transit. Custom homes on the street were originally built for the doctors who founded Eden Hospital in the early 1950's and this property reportedly was once the home of the mayor of neighboring Hayward.
SuperHosts! Walk to 49ers @ Levi! Early Check in!
Voted Best of AirBnB! Come enjoy our spacious 3 bedroom house next to Levi's Stadium 49ers North San Jose. Fast Internet. Perfect 4 biz travelers and families. Coworking space. Complete w/ 3 bedrooms & 3 bathrooms. Gated private backyard, BBQ, remodeled interior, & amenities. Everything to enjoy a working or holiday trip to the Silicon Valley. Modern kitchen. Keurig coffee. 50inch TVs in each room w/ Netflix, and YouTube TV. A fabulous and comfortable home. Guests Favorite in 2023. Superhosts!
Kings Mountain Studio Cabin
Enjoy a cozy STUDIO Cabin nestled in the Redwoods up on Kings Mountain. For those who are inclined to have an active lifestyle, We are close to Purisima Creek, Huddart Park, and El Corte De Madera Hiking and Biking Trails. This space is perfect for two! (read more about the space) 20 minutes away from Half Moon Bay with beautiful beaches and 30 min. from Stanford, Palo Alto. We are adjacent to The Mountain House Restaurant. Res recommended. Short drive to local breakfast place. NO PETS!
Wine Country Craftsman Cottage
Restored Craftsman Cottage, walking distance to historic downtown Livermore. Downtown features excellent restaurants, theaters, antique stores. Short drive to Livermore wine country. Perfect for romantic getaways, wine tasting trips, antiquing, bike trails, hiking, weddings. Sleeps 2-4. Private backyard with patio, BBQ , organic garden . Charming vintage décor. Fully equipped kitchen. One bedroom with queen size bed, 2nd bedroom with queen size bed. Hardwood floors throughout.
Remote Mountain Suite with Hot Tub
One-bedroom attached in-law suite with private entrance- relaxing den with large leather couch, flat screen tv (Roku/no cable) kitchenette w/hot plate and private bath. Supplied with bottle of wine and breakfast essentials. Mountain location 2.5 miles down a very narrow scenic ridge-top road on 6 beautiful acres of lush vegetation and towering redwood trees. Ideal for a couple or small family looking to explore the Santa Cruz county Mountains, Bay Area and coast without breaking the bank.
Manzanita Cottage in the Heart of Silicon Valley
*We respond to inquiries quickly! We use CDC cleaning guidelines. Smoking is not permitted on the premises* The Manzanita Cottage is a perfect getaway for business or vacation travelers. The cottage is well appointed and has everything you need for an extended or short stay. This private & inviting cottage is big on amenities: stove, oven, microwave, coffee maker, dishwasher, washer & dryer, etc. We have two other units on our property: The Orchard tiny house and The Manzanita cottage.
A Modern, Cozy & Private Suite in the Heart of SJ
5 Mins from Downtown San Jose and the Civic Center, we live in Japantown district SJ. Lively Japantown is known for its dynamic dining scene, with unpretentious eateries serving regional Japanese fare, as well as Japanese-American and Hawaiian diners. Our rental has its own private entrance, full dimmable lighting, heating & cooling, entertainment system w/ projector, dining area, breakfast nook, bedroom, and bathroom which doubles as a steam room. Please see pics for more details.
4B/2.5B / Office Space / Open Plan / Huge Backyard
20 min walk/ 5 min drive to Santa Clara University 15 mins to Downtown San Jose + San José International Airport ✈ ☞ 4 Bedrooms, one has a built-in desk and can be used as an office ☞ Huge Backyard w/ patio + BBQ + dining, great for children and pets ☞ Memory foam mattresses, 2 smart TVs ☞ Master suite w/ king + bathroom ☞ Fully equipped + stocked kitchen ☞ Walking score 80 (Walk to cafes, dining, shopping etc.) ☞ Free Parking in the driveway (2 cars), plenty free street parking
Moose Mountain Vineyards Bungalow
Relax in an elegant 2 bed bungalow sitting atop Moose Mountain Vineyards. Enjoy the panoramic view of San Martin as well as the 13,000 grape vines growing on property. Relax in the hot tub or infinity pool, or sip estate wine on one of our four decks as the sunset takes your breath away. Enjoy a complimentary whole food plant-based breakfast with ingredients sourced onsite. This stay offers many opportunities to explore the inner workings of Moose Mountain Vineyards.
Get the amount of space that is right for you
House rentals with breakfast.
Luxe 4bd/3bth w/Gr8View/Lgdeck/Hottub/Billiard&gym
A Beautifully Remodeled Entire House with EV Chgr
SFO Luxury House 4BR/3BA near SF & Silicon Valley
Huge Stylish Studio 1 block to SCU | 65in TV | WD
Charming 2 Bedroom San Jose Rose Garden Home
Corporate housing in great area
Welcome to Paradise! Convenient, Safe, Serene ♥!
Stanford Traveler's love & Cozy Bay trail house
Private Apartment Home by Stanford, Gooogle, Apple
Comfort Awaits: Stylish studio I No cleaning Fee!
comfy casa near everything
2 Bdr Modern Apartment Downtown Menlo Park U2
Silicon Valley Comfort: Queen Haven
Sunnyvale Sunrise Inn Entire apartment-2 bedrooms
Family Time | Museums. Outdoor Pool
Comfy Bedroom w/Private Bath
Eco Haven- 2 private rooms/ 1 bathroom
Private garden bedroom near SFO, BART & CalTrans
Beautiful, warm and cozy room on a country acre!
Rm #3, Walk to Apple's Cupertino HQ & Kaiser Hosp
Room in PaloAlto Home Has Kitchen living Room yard
Private room and bath
Total rentals.
90 properties
20 properties have a dedicated workspace
30 properties have a pool
20 properties allow pets
30 properties are a good fit for families
1.8K reviews
IMAGES
VIDEO
COMMENTS
Fill Out A Business Plan In Minutes. Easy To Use, Save, & Print. Try Free Today! We Write Your Bed & Breakfast Business Plan. Download & Print 100% Free!
Our AI Business Plan Software Creates Your Bed and Breakfast Plan In Minutes. Try it Free. Finish Your Bed and Breakfast Business Plan & Financials Without Writing A Single Word.
B&Bs, along with other short-term lodging on Tybee Island, have been a substantial part of the island tourism. Of the short-term lodgings on Tybee, ten are categorized as Inns, 19 as long-term lease facilities (rentals, condos, and houses) and only four as B&Bs, including the Coach House (currently operating as the Marsh Hen Bed and Breakfast).
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.
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 ...
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
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 Bed and Breakfast Business Model Canvas is more than just a strategic tool, it's a roadmap to success for your B&B project. As a crucial part of your B&B Business Plan, the Business Model Canvas (BMC) helps you understand and develop nine key components allowing you to gain valuable insights to refine your operations, strengthen your ...
Three months of overhead expenses (payroll, utilities): $50,000. Marketing costs: $50,000. Working capital: $50,000. Easily complete your Bed and Breakfast business plan! Download the Bed and Breakfast business plan template (including a customizable financial model) to your computer here <-.
Before starting a B&B, consider the demands on your time. You must keep the rooms, kitchen and public areas of the B&B extremely clean. You will have to get up early each morning to get the ...
Bed and Breakfast building and design: $750,000. Working capital: $250,000 for paying salaries, operating costs and marketing expenses until we reach break-even. Step 2 - Company Overview. In this section, you need to talk about your B&B concept and share finer details.
A compelling & detailed pre-written Bed and Breakfast business plan template in WORD. A full and automatic Bed and Breakfast financial plan model in EXCEL you can easily customize. Customized text tailored to the B&B business. The ability to paste advanced charts and tables within a click. No accounting or specialized financial knowledge needed.
Bed & Breakfast Business Plan Template (Microsoft Word) - $47.00. +Add Excel Worksheet (Recommended) - $35.00. +Add PowerPoint Template and 4 Funding eBooks - $65.00. +Add Business Startup, Finance, Marketing Documents 781 Templates - $185.00. +Add Operational, Employee and Policy and Procedure Templates - $35.00.
Download. Business in a Box templates are used by over 250,000 companies in United States, Canada, United Kingdom, Australia, South Africa and 190 countries worldwide. Quickly create your Bed and Breakfast Business Plan Template - Download Word Template. Get 3,000+ templates to start, plan, organize, manage, finance and grow your business.
A bed and breakfast business plan is a great way to develop and grow your business. If you're just starting out with your B&B, having a good business plan gives you a good roadmap to success. Using our free template is a good starting point. Our sample already includes all of the sections required for a well-rounded business plan.
Peter Siegel, MBA discusses buyers who want to buy a business or franchise know about asking the seller to provide part of the financing with a carry-back note. Many business buye
Best Bed & Breakfast in Santa Clara County, CA - Sand Rock Farm Bed and Breakfast, Joshua Inn Bed & Breakfast, Redwood Croft, Evergreen Bed & Breakfast, Pescadero's Historic McCormick House, Inn At Depot Hill, The Nook, The Jabberwock Inn, Aloha Cottage, Atherton Inn.
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.
Short drive to Livermore wine country. Perfect for romantic getaways, wine tasting trips, antiquing, bike trails, hiking, weddings. Sleeps 2-4. Private backyard with patio, BBQ , organic garden . Charming vintage décor. Fully equipped kitchen. One bedroom with queen size bed, 2nd bedroom with queen size bed. Hardwood floors throughout.
I. Plans shall be drawn to a recommended scale of 1⁄4 inch = 1 foot and shall include: A "Vicinity Map" showing the building location with at least two major cross streets. A floor plan of the entire facility. A floor plan showing equipment layout, including elevation drawings of equipment.