Considering making a life changing decision to relocate and buy a B&B?
BusinessXchange can help
At BusinessXchange it’s been a crazy busy time – What a year!
2020 has certainly been a roller coaster year and we have never been so busy at BusinessXchange. We have seen the numbers of buyer enquiries fall & rise throughout the year, with ‘lockdown’ periods, and people re-evaluating their lives.
This ‘pandemic year’ has highlighted a lot to so many people. Just thinking of the buyers I work with, some have experience, many who don’t, who are considering a move, a change of lifestyle, and deciding to buy a B&B in another part of the country. It’s a life changing decision. They may have to relocate hundreds of miles, give up jobs, consider their children or parents, have pets to take into account, in fact the list goes on, of how this potential move will impact on their lives.
I am fortunate to have lived a life of change, to have lived in various parts of the country, and abroad, which has given me a certain amount of confidence in making changes to my life. However, I do appreciate that most people don’t generally move like nomads, they like their routine and they take comfort in the security they have created for themselves. Until they wonder what if? What more is there to life and how could I enjoy my life more?? And, how to find out whether it’s the right move for me?
Anything Works – Nothing Doesn’t
Taking small steps and doing some research will help you if you are considering this life changing path. Make the call, take a look and ask the questions. Once you begin the process it will become apparent along your journey whether this will be the life for you.
What steps to make and how to decide what to do next?
When to consider that life change. There is no time like the present to take a few small steps, a little research towards making a decision.
I’ve heard the phrase many times ‘I’ve thought about doing this for many years and now is the time to do something about it …’
The right time is the time when it feels right for you.
Here are a few things to consider;
- Do you like people? It’s possibly the biggest part of the role
- Do you have transferrable skills which may benefit you? Anything from running a household to project managing in business
- What’s the worst that can happen? Living in a beautiful part of the country in a beautiful property
And the practical considerations;
- How do you see your lifestyle – how much money do you need to earn?
- How busy do you want to be – how many letting rooms do you want to run?
- Do you want to be hands on or off – staff cost money and also buy you time
- Are you motivated to make the change?
The benefits of running your B&B;
- You choose how you run your business
- You will have flexibility to choose your life balance
- Your business pays for your own living costs
- Your life is in your control
Some added benefits of a B&B lifestyle in South Devon and the English Riviera;
- We enjoy a warmer climate
- The landscape is beautiful, with so many wonderful places to visit, both for your guests/customers and for your own downtime
- The public transport is great with many regular trains, buses and ferries to move around the area
- You gain so many friends with such a friendly hospitality sector who are keen to include others, offer advice and help
- There is tremendous marketing for the area with a huge uplift of tourists, predominantly in the summer season, although the ‘season’ is lasting longer and the ‘Staycation’ craze is likely to be around for a few year.
In fact, it seems that ‘staycation’ will be with us for the next few years and accommodation providers will benefit from an increase in bookings and income, which they have already seen in our delayed summer season this year. Most B&B owners I know have been full across the summer months, and I keep hearing them say ‘I could have sold my rooms ten times over’.
How can we help you?
I’m happy to help people looking for a new life in Hospitality, who want to buy a bed & breakfast business and enjoy the benefits of being their own boss; in the search for the ‘right one’. Maybe offering the services of a commercial funding broker if borrowing is required, and working with a local commercial solicitor through the legal process.
It’s such a friendly community and so easy to make friends – everyone is in the same boat having moved away from their family and friends.
If I can help with your dream of running a bed & breakfast or hospitality business, close to the wonderful Devon coastline, please do let me know. It’s a life I have experienced myself and I can help you with first hand advice and knowledge.
Fancy a chat? I would be more than happy to offer some friendly advice (no obligation) Just ring 0330 043 4351.
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