Transform Your Home Into A Hotel, You’ll Make Massive Profits!
We’ve talked before about the possibilities of working from home. But we’ve only lightly touched on the concept of making money from your home. Believe it or not, this should be something that you are considering, particularly if you’re looking for a fresh, exciting, attractive side hustle. But what exactly are we talking about here? Essentially, you can turn your home into a private hotel or more specifically bed and breakfast. This will be ideally suited for you if you live in quite a nice location or even a stunning hotspot. So, let’s look at how to set this up, how you’ll make money and the considerations you need to make before committing to this decision.
Setting Up Your Home As A Hotel
The first job is to make sure that there’s an area in your home that you can run as a hotel. Let’s start by thinking about the bedroom itself. You will need to a spare room if you’re going to complete this business venture. Or, alternatively, you can consider reshaping another room in your home into a bedroom. A conservatory, for instance, can make the perfect guest room with a few minor and some major changes. For instance, in the middle of the summer, you’re going to need to make sure that there’s air con in that room and of course features that provide privacy to your guests.
Another possibility would be a loft conversion. With a loft conversion, you can provide guests with a truly massive space to sleep and with the added benefit of it being remarkably detached from the rest of your home. It really will help them feel like they are staying on their own property. A loft conversion is expensive, but it will also add value to your home. So, it’s really just about balancing the cost and indeed the potential revenue.
When you’re designing the guest room, you want to make sure that it’s as luxurious as possible. For instance, you want to make sure that you have a king-sized bed. You can choose between an Eastern king vs California King. It’s up to you which option you select here. Either could be a fantastic choice, and it really depends on your level of space. Still, a large, comfy, cozy bed could be a fantastic unique selling point which will be essential for success here. Don’t presume you’re the only person in the neighborhood making money off renting out their property to guests on a hotel basis. You won’t be.
You should also look into making the room look as stylish as possible. Don’t forget that guests will choose whether they want to stay at your home based on first impressions after they see it online. We’ll look at this more a little further down. For now though, just make sure that you are taking the time to make it look stylish. Investing in bespoke furniture could be a great way to do this. However, if your budget is limited, you can also think about purchasing a full set from somewhere like Ikea. Remember though, the more money you put into this venture, the more you’re likely to get out of it.
Other Home Areas
Don’t forget that giving your guests a bedroom to sleep in isn’t nearly enough, even if you do provide them TV and access to the wifi password. You really need a separate area in your home where you can let them relax, unwind and enjoy a spot of tea on a rainy day. That’s another unique selling point guaranteed to get you the attention from clients that you need. You’ll have a few options here. For instance, you might have a family room or living area. If that’s the case, you can then decide which room will be used for guests.
You’ll also need to choose whether your family is going to socially interact with guests or not. Be aware that while some guests will love to get to know your family during your stay, others will want privacy. While certain individuals will have no trouble interacting with your children, others will prefer to only speak to the adults of the household. These are some of the considerations that you’re going to need to think about before opening your home as a B&B.
Will You Make A Profit?
This will depend on a number of factors. First, you do need to think about the location of your home. Is it somewhere that people want to visit? You’ll know if it is because through the summer months you’ll notice a massive influx of tourists. This is a clear sign that you do live in a holiday location. Of course, it’s not all about the summer season. Do you live in a location where there is a guaranteed snowfall most winters? If that’s the case, you’re in the prime position to attract a Christmas crowd. There are many tourist hotspots all over the world, and while some like Orlando are obvious, others are less apparent but just as profitable.
Aside from your location, you need to make sure that you are offering guests something more than the typical stay. Do you make the best cookies in the world? Be sure to advertise your baking skills by offering guests treats when they come to stay. These little USPs are the best way to earn those five-star reviews and make sure that you keep getting customers to return.
How Hands-On Is This Hustle?
It is quite a commitment. First, you’ll need to arrange an ad and use a service like Airbnb to put it up online. Once you have done this, you then need to think about your role when someone comes to stay. While you don’t need to wait on them hand and foot, you will have to respond to this requirements and requests if you want the glowing reviews. Someone also needs to be in the house throughout the day, so it’s ideal if you’re a stay at home parent. It may eat away a little at your spare time but when the payments come in you may not care. Running a scheme like this can easily let you save up enough for a deluxe family holiday in less than a year.