bed and breakfast business plan

1. Cover letter

   concept/objectives/conclusion of feasibility study/proposed plan of action. Request for review and financing.
   
   

2. Business description

   proposed or existing/how will the inn be differentiated from other lodging?/why would anyone stay with me?/Sunday-Thursday/targeted market segments.
   
   

3. Market analysis

   where do you want to put it?/collect area historical economic data/present/future, what is its health?
   
   

4. Size analysis

   determine size that fits your economic and lifestyle goals.
   
   

5. Competitive analysis

   refine #3 to focus on your competitors/determine number of competitive rooms/rates/occupancies/contribution of market segments.
   
   

6. Supply & Demand analysis

   calculate area wide occupancy & average daily rate/determine market segments & objectives/forecast future room requirements/market effect of adding new rooms/estimate your inn's occupancy & average daily rate for 1st, 2nd, & 3rd years.
   
   

7. Proforma Operating Statement

   produce sample for stable 3rd year with percentages as reference.
   
   

8. 3 - 5 Year Proforma

   show conservative, intermediate, and optimistic projections of your inn's revenue and expenses.
   
   

9. Proforma Cash Flow

   calculate the initial 24 months of operations (or until the inn breaks even) by month to reflect cash flow requirements.
   
   

10. Marketing Plan

    develop marketing positioning, strategy, and tactics for pre-opening and start up years/determine budget and include in cash flow requirements.
    
    

11. Management Background Data

    resume of each owner.
    
    

12. Loan request

    define needs/terms required.