bed and breakfast

Depends how big and how good the room rates you can get. Many dream of running a B&B thinking of working hard in the season and holidaying abroad for months over the winter. Believe me than just does not happen as profit margin, as a Gross Profit percentage may be high but not that lucrative with the end Net Profit.

Sounds like a very expensive B&B, I'd say they are onto a winner if its so expensive you need to sell your house to stay there.

B&B owners sometimes worry about their turnover reaching the VAT threshold in the Lake District, ie revenue less than £55k.

Probably mainly profit, as you see them pouring Aldi cornflakes into a weary Kellogg's box !

Phil

I'd say most seaside b&bs are struggling. Because of competition locally and from cheap foreign holidays you can't pitch your rates too high, and it's difficult to keep a healthy booking level going outside of main summer season. Key to success is repeat bookings and recommendations through word-of-mouth. Getting your place listed on guidebooks and having a good internet presence is also essential nowadays. But Brid has a relatively short season and doesn't have value-added attractions like the Illuminations or hen & stag party scene (dubious benefit for some, but some do quite well by targeting this market). Keep overheads low (staff cost mounts up) and maintain high standards of cleanliness and service. If you are buying an existing business with good reputation, that's a big help. It's still a hard graft with little reward to keep creditors at bay. Be on good terms with your bank, as you need to survive on overdraft.

Alec

The one thing I look for when booking a B&B is whether they do a decent menu of home cooked food. I will usually then book dinner as well!

dan