Got a spare bedroom? Turn it into passive income by converting it into a bed and breakfast. Over the past years, the B&B industry has grown immensely. According to the Professional Association of Innkeepers International, the bed and breakfast industry is now worth $3.4 billion. Starting your own B&B requires $20,000 to $50,000 per guest room, depending on the size of the room. You can always apply for hotel business loans if you need working capital to cover expenses.
B&B businesses have been viable for many years. The launch of Airbnb years ago has paved the way for more opportunities for the B&B industry to flourish. If you’re looking to start your own B&B, here are five of the most common blunders you need to avoid.
1. You’re Not Hospitable Enough
It’s not called the hospitality industry for no reason. Hospitality is the number one factor for being a great B&B host. You need to make your guests feel welcomed. After all, they most likely chose a B&B to experience personalized service.
You need to make sure that your guests feel at home. Keep in mind that a great B&B host will go the extra mile. You can make them feel extra special by leaving a nice bottle of champagne in their room, along with a fresh flower arrangement and a customized welcomed note for your guests. If there’s a special occasion, a birthday or an anniversary, you can give them a small cake or goodies. These little treats don’t cost much, but it will definitely help you stand out from the competition.
2. You Don’t Meet Their Expectations
We all want to wow our guests and promise them the best service there is. But if you can’t deliver what you’ve promised, it can negatively affect business. B&B guests will most likely check online reviews before booking a room, so negative reviews can hurt your revenue.
It’s important to ensure that all your potential guests know exactly what to expect when they get to your B&B. Some of the factors you need accurately describe are the following:
- WiFi availability
- Amenities you offer and the ones near your location.
- Distance to important locations – subway, bus stops, airport, grocery stores, restaurants, tourist destinations, and more.
3. Prices are The Same All Year Round
If you set the same price throughout the year, you’re definitely missing out on more revenue opportunities. Local events, festivals, national holidays, or special occasions are all great opportunities for B&Bs to make a large profit in a short amount of time.
In order to increase your profit and revenue, you can change your prices based on peak seasons, holidays, and weekends. More often than not, more people book during weekends than weekdays. Most hotels base their pricing on demand and seasonality to maximize revenue. You can also adopt similar pricing strategies for your B&B.
4. You Post Pictures in Bad Lighting and Angles
B&B guests judge your listing by the pictures you post. This is especially true if you’re new to the business and you don’t have many guest reviews. But unfortunately, posting bad pictures is one of the most common mistakes new B&B hosts make. By now, you probably know that posting high-quality pictures is essential for your B&B to prosper.
Make sure that your photos are vibrant and lively. It’s important to keep the following tips in mind when taking photos for you B&B:
- Mind the Lighting: Natural light is key to taking great photos. It’s best to conduct a photo session early in the morning or late afternoon when it’s not too bright or too dark. Open your curtains and windows to let natural light in the room.
- Take a Lot of Photos: Before taking pictures, make sure to clean your surroundings and remove unnecessary objects. Make sure to take multiple photos of every area in different angles and then select the ones that showcase your room the best.
- Capture Small Details: The small details are often what makes you different from your competitors. Take photos of your pillows, furniture, fixtures, art, entertainment, treats, toiletries, and more.
If finances allow, it’s better to hire a professional photographer to take the photos for you. It’s more convenient and you can ensure that you’ll get quality photos that stand out. After all, the pictures on your listing are the first thing people look at while looking for places to stay. It can make or break your business, which is why it’s important to put in the extra effort.
5. You Don’t Ask for Reviews
Aside from photos, the next thing potential guests look at is reviews. With that said, don’t hesitate to ask for reviews from previous guests. They’re more likely to leave you one if you ask them to. And you probably won’t even have to ask them if they had a great stay, which is why it’s imperative that you offer more than what is expected of you. There’s no harm in trying, so make sure to ask every guest to leave a review on your social media, website, or app.
Hotel Business Loans to Expand Your Bed and Breakfast
Whether you currently own a bed and breakfast or if you’re looking to open one, hotel business loans can help! SMB Compass offers various business loans for hotels, inns, and B&Bs in the country. Talk to one of our trusted financial advisors today! Call us at (888) 853-8922 or email us at firstname.lastname@example.org.