Published on 19/08/2016 by Punchmedia

How to Buy the Right B&B Business

With the warm weather approaching many of us are beginning to picture those blissful weekends away of sun, sand or just a seat and a good book. It won’t be a surprise to many that with the Spring/Summer run now upon us that bed and breakfast businesses are more popular than ever and with some amazing opportunities currently on the market we thought it remiss of us to provide some tips for those considering embarking on a tree or sea change. There are a number of advantages to buying an established B&B.

  • You have a revenue stream from already-booked guests right away
  • You will have a good idea of the cash flow for the business
  • You know what the operating costs of the business are
  • The key systems are already in place to run the business
  • Suppliers have already been sourced
  • Most sellers will be glad to help you with some sort of training/support after the sale
It's important to clarify what your ideal B&B would look like for example: the size, location, decor and whether it be a seasonal or year-round business. Doing your research is also an integral part of purchasing your own B&B. When looking for businesses for sale it may be worth engaging the services of a business broker so that you feel heard and understood and that they grasp what it is you are looking for. Any purchase is going to come with trade-offs - it’s a fact of life. However, having a clear vision of your ideal bed and breakfast combined with an understanding of the local marketplace will aid you in determining which trade-offs you are willing to make. Having a clear understanding of what type of property you need and can afford will save everyone a lot of time and effort. Engaging the services of a business broker will assist you in finding the right businesses for sale and set you on your way to a quality and profitable lifestyle. * With contributions from bedandbreakfast.com

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punchmedia

Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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