Selling your Bed & Breakfast? With tens of thousands of B&Bs across the country, and over 500 for sale here at Daltonsbusiness at any time, you need to make sure you stand out. We’re here to help – follow this seller’s guide to success.
Make Buyers Feel Right at Home
One clear obstacle to consider – the living space. Unlike most retail, commercial or industrial businesses, B&B owners tend to live on site. So how attractive are the living quarters? Whether they look dark, dingy, outdated or in need of some TLC, fix that fast. If buyers don’t want to live there, working there is out of the question.
Ready, Steady, Sell
First impressions count. Don’t take a risk in hoping that a potential buyer will see past the tired looking fixture and fittings and, instead, be drawn to your businesses’ ‘potential’. Most buyers are looking for certainty, and rarely take a punt on a fixer-upper. You want your business to look ready to go, and the ‘window dressing’ is crucial to making your business stand out. Ensure it looks inviting and irresistible to a buyer and you’ll find it far easier to sell your Bed & Breakfast.
Showcase your business with amazing photos
Most of us are driven by images. When we’re thinking about buying a car, taking a holiday or choosing a new home, we take note of the photos. So, spend time getting the pictures right. Don’t just reach for your smartphone – use the best camera you can find. Wait for the lightest, brightest day. If you have a friend or family member who’s a budding Annie Liebowitz, ask them to take the photos for you. Quantity is good too. The more images – or video – you can show, the better.
What’s your Flavour?
Think about what your biggest customer draws. Is it the scenery, the amenities or the proximity to somewhere popular that drives demand? Make sure your business listing promotes that. Tell everyone what makes your business great. Why is it the best Bed & Breakfast in town? Yes, there might be other guest houses and hotels to choose from, but what makes your business stand out? Is it the ease of parking in the middle of the city? Can you serve delicious breakfasts? Is it the comfort of the mattresses or the power showers in each room’s ensuite bathroom? Whatever it is, tell everyone about it!
Get a Second Opinion
Ask for an outsider’s view on things too – someone who isn’t afraid to tell it like it is. Firstly, when you’ve been running a business for some time, you can get bogged down in the day-to-day running of it and miss what a casual observer might spot. Secondly, that might be things that are easily fixed, such as a spot of peeling wallpaper, a dated duvet cover or a few more weeds than you’d expect to see in the garden! It’s all about the small things – the detail – that will give you the edge.
It’s not just a Living – it’s a Lifestyle
When thinking about writing your business listing, or any other promotional materials, tell a potential buyer about the benefits of running a Bed & Breakfast. Sell the lifestyle, not the daily grind. That might be working from home, and not having to endure daily commutes. It might be the free time you have outside of looking after your guests. And it might be the rewards you get from running a business that you are in control of. When selling your Bed & Breakfast, remember why you started it in the first place, and that could make your business stand out.
Ready to move forward with your listing? We have plenty of guides to help!
