Detailed Business Plan for a Bed and Breakfast: Market Analysis

This business plan outlines the key components for establishing a successful Bed and Breakfast (B&B) business. The plan begins with an introduction, followed by the motivation behind choosing this specific business venture. It delves into the process of generating the business idea, including brainstorming and research. A detailed feasibility study is presented, including financial aspects like initial investments and cost breakdowns. The plan then describes the products and services offered, potential market opportunities through PESTEL, STP analysis, and marketing mix, and evaluates the attractiveness of the industry using Porter's Five Forces. The vision for the B&B, emphasizing customer service and satisfaction, is also included. The conclusion summarizes the plan's role as a roadmap for organizational success and identifies new opportunities for profit generation.

Business plan for Bed and
Breakfast

TABLE OF CONTENT
• Introduction
• Motivation for choice of business
• The process you went through to generate this business idea
• Feasibility studies conducted
• Details of the product/service to be offered
• Potential market opportunities
• Attractiveness of the industry
• Vision for your business
• Conclusion
• References

INTRODUCTION
The business plan refers to document which
performs number of tasks in organisation. The business
plan is needed by start-up or established business in
order to achieve the business mission and objectives.
For Bed & breakfast business plan is prepared which is
small lodging establishment that offers accommodation
(Bedi, T., 2022). It is a fundamental tool which
provides the direction to start-up companies and looks
at the industry within which business will operate and
in what way it will differentiate from competition.

1. MOTIVATION FOR CHOICE OF BUSINESS
The food industry is increasing day by day and
becoming successful by generating the lots of profits,
vision for transforming people lives. The food industry
provides several opportunities to entrepreneur which
motivates them to have start-up of business (Bolles, A.L.,
2022). The idea was generated to start the bed and
breakfast which is abbreviated as B&B. This business was
selected to attract the large customer and increase growth.

2. PROCESS OF GENERATING A
BUSINESS IDEA
The different process is used for generating the business idea which benefits
in reaching to specific outcome. Before launching of any venture, it is important to have
bushiness idea. Several techniques were used in order to generate the business idea of
bed & breakfast which are as follows-
• Brainstorming
• Internal research
• Mind mapping

3. FEASIBILITY STUDY
This shows the detail analysis of proposed project
involving the description of new venture, its
products, market analysis and sources of funding.
The B&B offers breakfast menu and accommodates
guests overnight. It offers short term lodging in
private homes and small buildings which is highly
personalized service and inclusion of full breakfast in
room rate. It can be considered as profitable option.

CONTINUE…
In the financial feasibility report cost of project is involved as financial
feasibility refers to the term whether project is financially feasible or not. The B&B
is mentioned below with the initial investment of £ 100000.
 Cost of the furniture = £ 7500.
 Advertisement cost = £ 5000
 Cost of setting – up = £ 5000
 Saved for future purposes = £ 3500
 Office Rent = £ 15000
 Licensing = £ 15000
 Kitchen Equipment’s = £ 20000
 Marketing = £ 12000
 Staff = £ 10000
 Raw Material = £ 9000
 Total Costs = £ 110000

4. DETAILS OF PRODUCT AND
SERVICE TO BE OFFERED
The company will offer varieties of quality product
and services to its guest so that customers can be
attracted and company sales can be increase leading to
profit generation (Hardey, M., 2022). The company
will offer the service of overnight lodging and
breakfast, onsite parking facilities for guests,
entertainment and many more. This will offer the
products of breakfast, juices, shakes, sandwiches, and
many more items

5. POTENTIAL MARKET
OPPORTUNITIES
This framework helps in company growth by providing
the analysis of internal and external factors which
provides knowledge of market competition. This involves
the framework of PESTEL analysis and marketing mix. It
also involves the study of STP analysis.
STP analysis
• Segmentation
• Targeting
• Positioning

PESTEL ANALYSIS
This considers the factors of micro-
environment which can impact on the business.
• Political factor
• Economic factor
• Social factor
• Technological factor
• Environmental Factor
• Legal factor

MARKETING MIX
This comprises of 4Ps which B&B will take use
to sale product and services to target customers. It will also
help in analysing company structure and strategy.
• Product
• Price
• Place
• Promotion

6. ATTRACTIVENESS OF THE
INDUSTRY
This helps in identifying the company profitability which take analyses of porter
five forces to known the industry attractiveness.
Porters five forces- The use of this model helps in identifying and analysing
competitive force by considering five forces in context to bed and breakfast.
• Competition in the industry
• Potential of new entrant into industry
• Power of supplier
• Power of customers
• Threat of substitute products