Family-friendly hotels, called “Bed and Breakfast” (B&B), which offer lodging for tourists and travelers at discounted prices, are now top-rated in all corners of the world. Thus, mini-hotels such as B&B can be considered as a source of income and become a good idea for starting their own business.
The name Bed and Breakfast already implies understanding that the client will be provided with an overnight stay (in a separate bedroom) and with breakfast, not lunch or dinner. Such hotels are very homely, with a “soul”, and, as a rule, the cost of standing in them is cheaper than in a regular inn. Such a type of commercial activity with a relatively quick payback will be an excellent solution for a novice entrepreneur.
So what do you need for this? In the beginning, starting bed and breakfast for dummies requires a business plan. Without such a document, it will not be possible to calculate in advance the probable expenses and profits. Also, without it, no investor will give you money.
The business plan for opening bed and breakfast offered by our experts contains a detailed start-up costs analysis with expenses spreadsheet. It will show you the probable risks.
The bed and breakfast financial plan template developed by us contains both the average income calculator and a detailed five-year forecast for costs. Thanks to our project, you will know what to expect when launching a start-up and what difficulties you may encounter along the way.
The business plan we provide available for immediate download in Excel format. It contains a large amount of useful and practical information for everyone who is going to open their business in the hotel sphere. Follow it, implement interesting ideas, provide quality service - and your Bed and Breakfast hotel will pay off very quickly.
Bed And Breakfast Financial Plan Template Will Help You
- Use 161 Currencies for inputs and outputs
- Compute a Startup Costs of a Bed and Breakfast
- Create flexible, 5-year Expense Assumption Plan
- Develop Sales Strategy
- Create Weekdays Revenue assumption plan
- Adjust Room Occupancy Seasonality by months
- Set up Room Pricing by years
- Track and organize Extra Revenue Streams
- Identify your Strength and Weaknesses
- Plot your Startup Loans repayments
Benefits of using a Bed and Breakfast Financial Plan Excel Template
Solid package of print-ready reports, including a profit and loss statement, cash flow statement, a balance sheet, and a complete set of financial ratios.
Convenient, All-In-One Dashboard
Includes all required forecasting reports, including assumptions, profit and loss accounts (income statements), cash flow projections & statements, balance sheets, performance reviews and summaries for months and years (incl. numerous graphs and KPIs).
Count of room bookings vary over weekdays, right? That is why we have added Monday-Thursday, Friday-Saturday and Sunday groups. So you may have a different capacity within a week.
Wouldn’t it be great to have ADR (room rental revenue per day) for weekday groups? An assumption of how much you will charge on average per 1 day stay.
Financial Plan Template includes a room rate assumption plan for the next five years. You will find service/job bring in the most revenue and be able to plan for the future periods.
You might wish to have 100% room occupancy year long, but it is unreal - use the seasonality tab to set up and adjust the occupancy seasonality by month and by weekdays. This way, you will define an appropriate workload for your hotel.
Most likely, your hotel will have additional facilities in addition to core services. So, why don't you use the bar/restaurant as well as event sales there in your forecast? Input monthly sales and assume for sales growth for the next five years.
You can easily adjust inputs at the launch stage and throughout the further activities of your store to refine your forecast.
Get a Robust, Powerful and Flexible Financial Model
This well-tested, robust and powerful Excel template is your solid foundation to plan a wide range of different business models. Advanced users are free to expand and tailor all sheets as desired, to handle specific requirements or to get into greater detail.
Bed and Breakfast Financial Plan Template Reports
We do the math
Have all the features above ready with no formulas writing, no formatting, no programming, no charting, and no expensive external consultants! Concentrate on the task of planning rather than programming.
For your Bed and Breakfast business plan you will receive the main financial tables in the form of graphs for 2 years and 5 years - revenue breakdown, cash balance, operating cash flow, EBITDA, EBIT.
Consists of Income Statement, Balance sheet and Cash flow statement monthly and annual information, presented both with figures and charts.
Profit and Loss Statement
It indicates how much an enterprise earns, its income and expenses and its ability to gain money.
Cash Flow Statement
It is one of the most important reports because the main goal of each business is to generate cash flow. It shows how much you have consolidated money, how much is not enough when you need to attract additional financing.
Break-even point calculation
This indicator is calculated at the begin of each startup for understanding whether it is appropriate for doing this kind of business. It shows what revenue should be to cover all the costs of doing business, including taxes. When it is reached, the company begins to bring in profits, which means that the investments made in the startup start to pay off.
Top Revenue Category Report
Analysis of the revenue streams by each product category.
Top Expense Category Report
It is very important to plan costs so that your company is profitable. It is necessary to analyze what are the highest costs and always work on their optimization. This report summarizes 4 biggest expense categories and the rest of the expenses as the “other”.
Comparison of performance indicators in the model and in the industry.
Shareholder’s ownership dilution is calculated here. This tab consists of 4 rounds of financing
You will receive all the data necessary for the investors. The weighted average cost of capital shows the minimum return on enterprise funds invested in its activities capital. Free cash flow is cash flow available to all investors, including shareholders and creditors. Discounted cash is the value of future cash flows in relation to the current time.
A very sophisticated financial planning tool, whatever size and stage of development your business is. Minimal previous planning experience and very basic knowledge of Excel is required: however, fully sufficient to get quick and reliable results.