The Bed and Breakfast ("B & B") runs great on the streets of Manhattan in the winter cold at 5 pm. The fact that it can be a real job. Let me give you some taste as a typical B & B owner's life.
Imagine going to the beautiful B & B on Friday at 20:00 in the middle of summer. Now complete the dining room, where guests have recently had easy discussions and drinks. Are you tired. It was a long day. You start to take the food, which takes one hour and the phone rings. John Smith, a late guest who checked in at 21:00. He tells you he will be there no later than 22:00. It's 21 o'clock, he's just finished the pots and now fills the washed clothes and fills the new towel to replace the old ones in the bathroom. It takes another hour. Check your watch. 10:00, there is no John Smith. – Where can I? You are astonished. Check all your phone's messages, nothing. You're calling at 10:30. I'm John Smith. At Exit 117 at Garden State Parkway. It should be there in about half an hour. 11:00 John Smith finally arrives. Check him out, show your room and run into your bedroom at 11:20 in the evening to catch the sack because he promised early resurrection, Julie Murphy, to get fresh coffee and a continental breakfast on the morning. If you are lucky, you will run out at 11:45 and you will squeeze more than five hours of sleep.
Welcome to B & B's relaxed atmosphere. It's not your typical day, but you get the idea. The point is, B & B is not as easy as you would think. However, it may be all I thought about as long as your thoughts are actually anchored.
The extent of attention, with the B & B location, can make real successes or make a real nightmare for the B & B. During the busy time of the B & B (primarily in the north-east from May to September) is always on the way. Your classes are determined by the hours of your guests. Late arrivals may delay you and we need to wake up for the early uprising for 5 years.
Frequently Asked Questions
What is a B & B? Generally speaking, they consider Inn to be more than 5 rooms and consider anything to be a B & B.
How do you know if the B & B is successful? 100 nights, one year, full of capacity, good year.
Can you live a B & B? In most cases, There are six rooms to live. Anything less is just an additional income. If a host wants to live in a B & B, he has to open a restaurant.
What are the biggest problems with B & B hosts? Typically, detail attention needs to be paid to canceling the well-functioning B & B and the last moments, as well as to those who are just not appearing.
If you book the booking book with the booking agency ("RSA")? If this is the first B & B and is just about to begin, the answer is final yes! Therefore. Good RSA provides a number of valuable services. First and foremost, you can drive businesses to the B & B. It offers many RSA brochures for state-run Welcome Centers. Some RSAs get to local businesses and special event coordinators. If a potential guest receives one of these brochures and calls the RSA, then B & B provides a perspective that meets your geographic and personal needs. Additional benefits of joining the RSA are valuable tips for running the B & B. Many RSAs usually came to the B & B to see if they have the right to accommodate their guests.
Generally, they bring a checklist and conduct a kind of verification process. Soon you will find out what your strengths and weaknesses are in the B & B. Often, this service is offered free of charge, as an initial consultation. The RSA will do this to determine if B & B meets the minimum requirements. This check helps with B & B problems. If you miss the check, then RSA is interested in listing your home. Feature Operative Services The RSA also includes phone calls, email / email queries, screenings, and hosts with hosts. They confirm the guests who make reservations. Some also send regular newsletters to the host and help keep records and tax returns. All of these services cost of course. In general, RSA's commission will be between 20-25% of the leaseholders.
How much does it cost per room per night? Most rooms are charged at least $ 100 for a double room. Depending on your geographical location, this amount may be significantly higher or lower.
What kind of costs / costs can you expect at your accommodation? AB & B costs: food, beverages, coffee filters, soaps, shampoos, face / toilet tissue, detergents, detergents, washers, new sheets, paints, repairs, bedding, bedding, towels, fresh flowers, new mattresses / promotion, stationery, prizes / subscriptions, business cards, reading lamps, telephone, Internet access, RSA mandate, membership fees for local business organizations (eg Chamber of Commerce), insurance, utility fees, tax, property tax and mortgage interest rates,
What type of accounting or accounting system is needed in a well-functioning B & B? B & B billing should not be so complicated. Your options are manual accounting or computer-based. A manual bookkeeping system can be as simple as a checkbook, an accordion file, and some envelopes. The accordion file must have twelve compartments a month. Keep each envelope in each compartment for the most important spending and put your budget in each budget. For expenditures that are not easy for the category, include a "different" envelope. At the end of the month, you'll be charged for a check sheet listing the costs on the left and a column on the right every month. Drop the monthly amount of your monthly earnings and know how much money you've been or how much you've lost. The computer system must be so easy to use. I recommend QuickBooks as it is one of the simplest accounting software to learn and use on the market. With a few hours on the accountant, learning from QuickBooks can save you more time with probes and errors, not to mention frustration and stress on the road. If you feel you do not ignore detail details, even if you keep a principle accounting system, use your accounting system for your bookkeeping book. Make sure all your costs are done through your checkbook or if you are using a credit card for a business only if it is not good to keep your earnings.
Do you need a B & B for a private enterprise, company or LLC?
This is not an easy question to answer. Before we can get this answer, please let me contact the owner of the B & B. I would suggest that the B & B should be personally. This is because there are tax breaks that are B & B's personal property. One of the biggest tax breaks is the personal banishment of the one-time taxpayer of $ 500,000 ($ 250,000) in the residential and residential real estate. The other reason is that this direct ownership better promotes B & B's tax advantage by using a similar type of stock exchange that allows the seller to defer taxation of any gain from the sale of B & B if a similar type of property (real estate ) will be acquired within six months of B & B's sale. With a direct ownership structure, you can lease the B & B to the legal entity managing the business. It would not introduce the B & B business at all, as individual businesses have unlimited liability.
My first choice would be a company with a S election. S offers the best limited liability insurance, even better than an LLC or partnership. Therefore. In your LLC, your personal responsibility is limited to litigation in cases of some negligence, but only if you have not personally caused any negligence or injury (that is, the employee is responsible for negligence or injury and has not dismissed it as an employee for the execution of the act ). If you have something to do with the negligent act, you and all personal belongings may be jeopardized. In a partnership as a general partner, you may be personally liable for any negligence or injury, even if it is caused by an employee. In a company only corporate assets are at risk. Your personal assets are safe. Corporate-level personal responsibility requires "pulling the corporate veil", which is very difficult to limit if a long period of corporate law is restricted. In a S company, any net income or net loss and certain other tax items are transferred to your personal income tax revenue as S is a transit unit.