Is the daily grind getting you down? Then why not throw it all in and run the B&B you’ve always dreamed of?
Do you ever watch Four in a Bed and think ‘I could do that’?
Running a B&B can be a lucrative business – according to Smarta, the small business support and advice network – the UK’s B&B sector turns over £2bn per year, making it a lot more profitable than the low-cost hotel sector. Top earners can make £100,000 per year, depending on where you buy.
There’s no doubt it’s hard work – with few holidays and being on call virtually 24/7 – but on the flip side you can be your own boss and tailor the place to meet your tastes and vision. Plus, you potentially get to spend more time with your family and live a more sociable life rather than being holed away in an office.
There are a few things to consider before you purchase a B&B property, so research is imperative. Make sure you know what is included in the sale – will you need to buy new furniture and are you expected to take on existing staff? What are your legal obligations in terms of food hygiene, health and safety, and insurance?
And perhaps most importantly: why is the current owner selling up and how can you make it a profitable business? A sensible buyer would look at occupancy rates for that area and consider seasonal lulls and how they could turn over profit in quiet months. Make sure you are offering something different or better to nearby competitors.
If you’ve considered all these things and you still want to run your own B&B, then take a look at these lovely properties for sale and you could be asking ‘How do you like your eggs?’ in next to no time.
The Sandcastle, Lowestoft, Suffolk – £310,000
A charming B&B spread across three floors, this mid-terraced Victorian house is finished to a very high standard, and is already operating as a successful holiday business. Period features abound, including huge sash windows and roll-top baths. Lowestoft is famous as being the birthplace of Benjamin Britten and guests can visit the award-winning beach opposite, once a source of inspiration for the composer, as well as the historic Scores lanes.
Grade II farmhouse B&B, Birchill, Axminster, Devon – £1,550,000
This beautiful stone-built thatched property is surrounded by 30 acres of its own grounds, including an orchard, lake, formal gardens and pasture land. Inside, it is utterly charming, with solid wood doors with brace-and-latch fittings, exposed stone walls, arches and beamed ceilings. There is a billiards rooms for guests, a separate cottage, plus a barn with high-vaulted ceilings. It is ideally located for the holiday market, just a few miles from Hugh Fearnley-Whittingstall’s River Cottage, plus Lyme Regis and the Jurassic Coast.
The Grange B&B, Brecon, Powys, Wales – £680,000
Set in a smart Victorian townhouse, this four-star rated B&B includes seven en-suite bedrooms, plus owners’ accommodation. There is a terraced courtyard garden and an additional en-suite lodge. The property is a short walk from Brecon town centre and well placed for those wanting to explore the beautiful Brecon Beacons National Park.
Grade II detached house, Dunham-on-Trent, Newark – £570,000
This pretty 7-bed guest house comes with extensive grounds and is well placed for the attractions of both Lincolnshire and Nottinghamshire. Preparing breakfast for guests will be a breeze in the generous farmhouse kitchen, which comes with its own Aga, and it can then be served in either the dining room or the breakfast room/snug. There is lots of parking and three of the seven bedrooms are ensuite though there is room to extend (subject to permissions).
The New England, Eastbourne – £695,000
As its name suggests, this B&B is modelled on the New England seaside states such as New Hampshire and Rhode Island. Don't be put off by the old-school awnings, inside the décor is very sweet – blue wood panelling is complemented by stripy cushions, and maritime trinkets such as lighthouses and ships add to the theme. And, of course, it has a lovely sea view.