Bed And Breakfast Business Plan Pdf – This bed and breakfast business plan template has 36 pages and is an MS Word file type listed under our business plan package documents.
Bed and Breakfast Business Plan [YOUR NAME] [YOUR TITLE] Phone: [YOUR PHONE NUMBER] Email: [YOUR EMAIL@YOUR BUSINESS ADDRESS] [YOUR WEBSITE ADDRESS] Confidentiality Agreement The undersigned reader acknowledges that the information provided by [YOUR BUSINESS NAME ] in this business plan is confidential; therefore, the reader agrees not to disclose it without the written consent of [YOUR COMPANY NAME]. The reader acknowledges that the information contained in this business plan is confidential in all respects, except for information otherwise in the public domain, and that any disclosure or use by the reader may cause serious harm or may cause harm to [YOUR BUSINESS NAME ]. Upon request, this document must be returned immediately to [YOUR COMPANY NAME].
Bed And Breakfast Business Plan Pdf
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The Business-in-a-Box template is used by over 250,000 businesses in the US, Canada, UK, Australia, South Africa and 190 countries around the world.1 Coach House Bed and Breakfast Business Plan 1.0 Introduction Summary Long Goals Coach House Goals The Bed and Breakfast (Coach House) will be the premier choice on Tybee Island, Georgia for temporary lodging by creating a distinct experience that leverages personal service, the historic character of the Coach House building and its unique location in one of the most charming parts of the Old South. We plan to be more than a great bed and breakfast. We plan to create an environment of pampered luxury that exceeds Tybee’s standard fare. Expanding our exposure through the internet and introducing the island to people who have yet to discover this paradise throughout the year will allow us to maintain a higher than average occupancy rate and an above average profit. The Company Coach House Bed and Breakfast is an established B&B, and has been operating for the past three years as the Marsh Hen Bed and Breakfast. After a short period of ownership and establishment, the Coach House will differentiate itself from other businesses to ensure a constant flow of customers (tourists and locals) through its doors. The Coach House Bed and Breakfast will be a partnership, jointly owned by John Maesch and Frank Williams. Mr. Maesch will live on the property, manage and maintain the business and fulfill Tybee Island’s licensing requirements. Our Services The Coach House Bed and Breakfast was originally built in 1920 and is believed to be one of three train stations on Tybee Island that connected the island to Savannah. The building has undergone several restorations and uses since the train service ceased to operate. With the building complete, it now has the potential for four owner-occupied homes in unused rooms. Creating a “home away from home” that is often more beautiful and grand than the place they travel to will ensure many repeat customers. The richness of Chatham County has always drawn large numbers of tourists to the Savannah/Tybee Island area. In addition to providing information on the location, we plan to work with travel agencies and businesses throughout the area by offering special packages and rates. If the B&B is established during peak season, we plan to expand our service to Tybee and Savannah residents in time for the off season. Adjacent rooms open up to create a spacious area, perfect for formal or informal gatherings (ie weddings, office parties, Christmas parties, etc.). The Market B&B, along with other short-term lodging on Tybee Island, has become a large part of island tourism. Of the short-term accommodations in Tybee, ten are categorized as inns, 19 as long-term facilities (rentals, condominiums and houses), and only four as B&Bs, including the Coach House. Hotels/motels make up the largest percentage of rental housing on the island in terms of units.
2 A moderate projection for house rent increases is 30% per annum. Competitors on the island have averaged 30%+ rent increases over the past three years, and Georgianne Inn expects a 50% increase in the next two years before reaching full capacity. This projection is without any significant increase in advertising or exposure, but based on an average overall increase in tourism. Our two main customer segments are tourists from the north, who traditionally prefer a comfortable B&B environment, and local customers who need facilities for various events. Subscriptions to various web services will provide potential clients with international exposure for a nominal annual fee. Financial Considerations The Coach House will be purchased for $500,000 through a Small Business Administration (SBA) loan (CDC 504 Loan Program), with the buyer providing 20% down ($100,000), Ameribank providing 50% ($250,000), and the SBA providing 30% ($150,000 ). We assume a starting capital of DKK 12,000 for operating expenses. We estimate average monthly fixed costs at $6,770 ($3,486 for expenses and $3,284 for interest payments). High and low seasons will have a significant impact on monthly income. For the first year, in-season earnings will offset off-season losses. If Coach House B & B builds its brand position among local customers, we expect that the off-season income will be sufficient to break even during the season. 1.1 Objectives 1. Open the Coach House Bed and Breakfast as a “turn key operation” on 3 May 2000 with existing bookings for Marsh Hen Bed and Breakfast (previous ownership), and new bookings at the increased rental rate after the takeover. 2. Shows at least 65% occupancy on average throughout the year. Increase exposure and brand using Internet technology and direct advertising to the northern part of the United States. 4. Through incentives and increased exposure on the Internet, we hope to increase off-season occupancy by 30% in the first year. 5. Increase off-season use by releasing other uses for the property (catering events, parties, weddings, etc.). 1.2 Mission Coach House’s mission is to be the best choice in Tybee for temporary accommodation by expanding our exposure through the Internet (with more networks and links) and introducing the island to areas that this paradise has not been discovered all year. We plan to be more than a great bed and breakfast. We plan to create an environment of pampered luxury that exceeds Tybee’s standard fare. Guests at the Coach House will have all the needs met to ensure their comfort. For special occasions, food, cold wine, etc. can be served. On weekends, guests return to the B&B at night and find cheese, fruit and wine to snack on before check-in. As the B&B is established during the peak season, we plan to expand our service to Tybee and Savannah residents in time for the off season. Adjacent rooms open up and create spacious areas, suitable for formal or informal gatherings (eg.
3 weddings, office parties, Christmas parties, etc.). Outdoor areas with beach access, beautiful tropical front yards and private decks open up some additional possibilities. The gazebo in the front yard would be the perfect location for a wedding, as would the sand and waves for those who prefer a beach wedding. With in-house catering options, the Coach House will make events run smoothly and easily for guests. Immediate family or selected members of the wedding party will be able to stay at the B&B, while other members of the party will be directed to nearby inns. This collaborative practice isn’t new to Tybee, but Coach House will be a new member of the exchange. Tourists will want to explore Chatham County’s riches (Bonaventure Cemetery, River Street, Worms Low, Savannah Historic District, Market Square, Dolphin Tours, Marina and Fort Pulaski to name a few). In addition to providing information on the location, we plan to work with travel agencies and businesses throughout the area by offering special packages and pricing to partner merchants, including tours originating from the Coach House. Amenities that go beyond a typical B&B include: Pralines on the pillow. One complimentary music CD per room for guests to keep (copy included in package). Extensive video and audio library for guest use. CD stereo and VCR in all rooms. Starbucks coffee. Different types of herbal teas. Freshly baked muffins daily and fresh fruit. Links to other businesses and services on the island and mainland. 1.3 Keys to Success To be successful, the new management will strive to achieve the following goals: Position the Coach House B&B as the best B&B on Tybee Island among the number of tourists. Build a strong brand position among local customers. Maintain good financial management of the company.</li
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