Leisure and Tourism
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One of the fundamental businesses found in all communities bringing a huge boost to local economies. From small bed and breakfast operations in rural locations to independent hotels in town centres, there are key criteria in building an offer and running a successful enterprise.
How do you enter this business sector successfully? Below are the key considerations we will be developing with you.
PLANNING YOUR OFFER
- What makes you remarkable, what to offer
- Fixtures and fittings, interior design
- Added value (meals, drinks, wifi, TV, taxi service, offroad parking)
FINANCE
- Setting your price, working out budgets
- Understanding overheads
- Bookkeeping, accounting
- HMRC; tax returns; you can earn £7,500 pa tax free for part rentals
PLANNING REGULATIONS
- Check with local authority
- Consult with neighbours with parking, late arrivals, noise etc
INSURANCE
- Do you need mortgage lender permission
- Leasehold? Check with Freeholder
BUSINESS/COMPANY set up and management, legal responsibilities
- Managing reservations and administration
- Keeping customer records
- Taking payments – methods
- Protecting customer property
- Sole trader or limited company?
HEALTH & SAFETY
- Kitchen hygiene
- Annual gas safety check
- Fire regulations and compliance, smoke and carbon monoxide detectors (www.firesafetysense.com)
- PAC testing and annual electrics test
- Energy performance certificate if letting for more than 4 months
- Security and safety; issuing keys, access to premises
MARKETING
- What exactly are you selling, what is your strategy
- Is there a niche customer base, can you profile the customer, define your market
- Networking, joining local groups B&B Associations
- What will the perception of your offer be, advertising and PR
- Creating your own web site
- Using online marketing sites; airbandb, trivago, Trip Advisor, booking.com
CONSIDERING AND EXIT STRATEGY
- Selling an ongoing business
WHERE TO GET MORE ADVICE:
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Please get in touch to find out more
