Bed and breakfast business growth is exploding across the country. With the average Airbnb host making nearly $1,000 a month, this is a small farm income idea worth looking into.
I’ve done some serious looking into this income idea and I think what surprised me the most is how simple your rentals can be and still be widely popular. People are sick and tired of the sterile, impersonal modern world and its accommodations. If you have an extra room, camp trailer, cabin or even tent camping spot, you can create an immediate income stream by starting a bed and breakfast.
Airbnb is the biggest, but by no means the only player in the business. Some other options to look into are, in no particular order:
- Your Website
- Realtor Managed
- Here are 25 more
Considerations to Start a Bed & Breakfast
Check into insurance requirements. Some of the facilitators will offer their own liability policy as part of the package, but if not, you’ll need to seek out your own insurance. Also check for state and county regulations. Some have very specific laws while many others have not yet gotten into regulating this business type.
Market research is very important. Are you in a tourist area? Seasonal visitors? If you’re not investing large sums of money to get started, it may not hurt to list your rental and see what happens, but take some time to know the market before committing to an investment.
Resources to Start a Bed & Breakfast
- Forbes: The Best (And Worst) Cities To Make Money On Airbnb
- 10 Tips for Running a Successful Airbnb Property
- THE AIRBNB EXPERIMENT: HOW I IMPULSIVELY STARTED A VACATION RENTAL BUSINESS