Im trying to start my own business and need advice.
Okay, I'm trying to start a bed and breakfast. I know a lot about what I need to do to run the business and even the general idea of starting it. I just need help with a few key points. For example, I live in the US and am willing to move anywhere in the states to start the business but have no idea what would be a good location for start up. Eventually I'd like to have a good number of inns opened.
I've thought about New Orleans, VA beach, Nashville TN, many places in FL... I need a good springboard that doesn't cost to much in the start up.
I've also been looking at grants for white women but don't know how to go about them... Still working on that one.
Basically I have a good paying job and am trying to save money the best I can, I live in my work van with my husband, (which its a pretty nice setup I'll admit ) but its kind of unsteady work. So I need a little advice on how to get out of this rut.
I've thought about New Orleans, VA beach, Nashville TN, many places in FL... I need a good springboard that doesn't cost to much in the start up.
I've also been looking at grants for white women but don't know how to go about them... Still working on that one.
Basically I have a good paying job and am trying to save money the best I can, I live in my work van with my husband, (which its a pretty nice setup I'll admit ) but its kind of unsteady work. So I need a little advice on how to get out of this rut.
Comments
I live in NJ and Wildwood is a great location for a B&B. There aren't that many of them around and the ones that are here are always booked throughout the summer by the time May rolls around. You could use it as a B&B in the Summer and then rent out the rooms by the month in the winter. That would mean you could stay there for the summer and have a great time doing it and in the winter you could still make money but you wouldn't really need to be there 24/7.
Just a suggestion though, I'm sure there are much better places and scenarios but I figured I'd at least try and give some good ideas instead of just being an ass...
There's little that will bite you in the ass more than that.
I'm sure if C/O jumps in the conversation he'll have plenty to say on the subject.
Also, building codes.
A place might look pretty, but structural problems aren't always hard to visually hide.
Try to go the route of Angel Investors or Grants.
Don't go to a bank unless you have credit that makes diamonds look like dog shit.
You will get fucked over OR have your dreams crushed by repeatedly being denied for a loan.
Hope at least part of that helps.
Good luck to ya.
Your not really being realistic. You can't run a chain of B&B's then they are motels. But hey, if you want to e a stupid kid with no clue go ahead and waste more hard drive space with this useless thread.
Hygiene is a number one must to keep up, seeing how I am a clean freak when it comes to my own house. I have some management skills do to running a bass-ackwards restaurant for a year while the managers smoked weed or stole shit. Lol
Right now the main thing is writing out my business plan to aply for a grant. Going to a bank is my very last option. Also I'm trying to find other things I can add to really make it pop and stand out. Such as the buffet, a reading room, pool and recreation court. The court is open to kids in the neighborhood for free though.
step back for a minute and think about what youve been posting. this sounds like a farfetched idea for you with your situation.
The wiring, and plumbing in all the spaces will likely need to be upgraded in order to accommodate the extra services in each room. Lighting, seperate phone lines, lavatories, television, internet...and with these services provided you're going to be consuming a monstrous amount of water, and electricity, as well as the increased cost of the entertainment subscriptions..TV internet, you also would want to consider reading material. This doesn't sound like a big deal but at a previous job we spent almost $1,000.00 USD on magazine/newspaper subscriptions alone for customers to browse whilst they waited...we prided ourselves on keeping a diverse relevant selection of magazines and newspapers, updated, rotated and sorted unlike most other businesses.
Now, let's just take a brief look at consumables. Laundry detergent/softener, toilet paper, paper towels, cleaning products, mops/brooms...I spend probably $150.00 a month on these things for my own home every month or so...and we're pretty thrifty people. We just have an elevated standard of cleanliness...not unlike one of your customers would have. My apartment is roughly 1100 square feet and three people live here. Adjust your costs for about 20 people and at least 4500 square feet and the increased frquency of pooping/mess making
I also skipped over the big deal, FOOD. In a residential kitchen you will be preparing three meals a day for between ten and twenty people, gallons of beverages, and processing the used plates, bowls, and miscellanious utensils from the cooking/serving, and eating happening there....this is with you, the husband, and the one hired hand you'll probably be able to afford.
I know this is not a scientific analysis of the cost and logistics of a bed and breakfast but it's pretty easy to see why this is only really done on a large scale. The cost is offset by the large volume of rooms rented and the almost assembly line like way rooms are constructed, cleaned and maintained. Making the most of their money and time. A bed and breakfast doesn't lend itself to this sort of thing at all.
So let's say you get this going. Your bed and breakfast is off the ground, and you're starting to break slim profits...you're happy...you proved everyone wrong...and then BOOM some fat dumbass kid is playing on the railing in your hundred year old bed and breakfast, it gives way and he impales himself on a spindle. Guess what? Your equipment was inadequate and you failed to post adequate warnings. His parents are now going to make a suit on his behalf because now he'll never play pro football...you ruined his future!! Sound far-fetched? Take a look at the local filings some time...people sue over anything.
It's cool though you had insurance, and the family settled...but guess what...your premium just went up. Now the insurance company wants you to implement $15,000.00 in upgrades to the property or they feel you're too big of a risk to continue insuring.
If B&B's were extremely profitable outside of the most desirable areas don't you think the chains would have already made their own McBed&Breakfast concept already?
The big boys know their business. Everything is built for ease of use, maintenance, and replenishment. All the details of each space are carefully chosen and placed in order to comply with the mountain of codes/ordinances regarding safety and accommodation of individuals both average and disabled. All risks are when possible mitigated and the lost profits are made up for in volume of business. You won't be able to do any of that.
I have given you nothing but real advice so sorry to burst your bubble but your idea sucks so hard the only advice worth giving you is to keep driving truck.
You are suggesting to us a lot of locations that are common for tourism, living, etc...I hope you realize that because of that, the cost of a rent alone will be extremely huge. Not including owning the name of B&B which is extremely costly. To own the name starbukz you need to purchase the name which about 1 million dollars.
You need to be ready to suffer large setbacks like when your overhead exceeds marginal profits and of course when you pay your workers enough to make them stick around.
You need so much money to start a franchise, and I doubt you have enough money to maintain one. 97% of all small business fail within their first 5 years...
Even McD0nals francise franchises don't see any profit until their 6-8th year because of the startup costs, overhead, employees ETC.
So you can't place your business inside major living areas or they will take away all your money. If anything, I'd place your business near important highways so you can attract people that often drive/commute..