Legal Advice On Buying Or Selling A Bed And Breakfast
You’ll Sleep Easier With Some Good Legal Advice!
There’re no two ways around it: running a bed and breakfast is hard work. It’s all day long 7 days a week. And at the end of the day, there’s no home to go to because you’re already there! Still, for those who love the lifestyle there’s money to be made by keeping those beds full. A well run B&B can easily take £120,000 or more per annum.
Before launching into the business you need to sit yourself down and plan things very carefully, especially the finances. On top of the large initial capital investment, it is expensive to keep a B&B in business. For example, you’ll have to find the money to pay staff, huge utility bills, and all those daily full English breakfasts. You’ll need to work closely with an accountant who’s familiar with the area, to make sure the budget stays afloat. You will also need a solicitor to advise on the purchase or sale of your bed and breakfast business.
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