I can only share from my own 20 years of experience but I am glad to do so if it helps. I want to put as much profit in my own pocket, expending less energy (especially as I get older) while providing the highest quality experience for my guests.
I am not in the business to provide jobs for others with little extra profit to me. I love meeting new people but I have to make a profit at it or it is a no go.
I have a three room B&B, each suite has its own bathroom and two have private sitting rooms. I used to have four but since I do all my own cooking and cleaning, I found that I was a bit grouchy when all four were rented continuously, especially in October.
That room is now my gym.
Also, I live in the house but am able to close off my private quarters (including the kitchen) that runs the length of the back of the house. Nobody gets to come into my kitchen! It is important to have somewhere private to relax especially in the evenings other than your bedroom. We finished the walkout basement and made an "inn-keeper cave" for us and our private entertaining.
Separate laundry facilities are also a must no matter how small your establishment. I put a stackable W/D in my master closet.
Some things that boost your profits:
* Do as much as you can in-house instead of hiring outside help. For example: I went to culinary school and had experience owning a restaurant. I also previously worked in interior design and was a flight attendant (people skills). My husband has an accounting degree and is licensed in HVAC/Heating, plumbing and propane. If something breaks, I have instant repair at minimal cost. Even if you haven't been in the business, being somewhat handy helps a lot when you consider what it costs to have a plumber come out on a holiday weekend. We do have to hire for any carpentry jobs (carpentry is not our gift). Everyone has skills that can boost the profit line. You can also acquire some know-how on youtube.
* Minimal fixed costs. For example, no mortgage (or low mortgage), cash for house upgrades instead of loans, few or no employees. If you live in the country maybe a well or a spring for water eliminating a water bill.
* If you can manage it, get commercial equipment anytime you can. Commercial refrigerator (more reliable, keeps food longer, more space, and long lasting. I have had mine 21 years!), under-counter commercial dishwasher (3 minute cycle!), commercial style range. Many restaurants have closed their doors recently. You may get some lightly used equipment on craigslist. That is where I got my commercial dishwasher and it is the best money I ever spent.
* Write off everything you legally can.
* Some B&B's offer additional meals. If I had a large inn with hired help, I might consider it as I love cooking the most. Even though I do well in the kitchen, I would never have a minute off duty if I did breakfast, clean-up, freshen or turn rooms, laundry, prep for the next morning breakfast and then did dinner too. You have to decide how much you are willing to carry or if hiring help for that brings in enough profit. I found that I cannot charge enough for the dinner to warrant sacrificing my evenings (and my sanity!).
Anytime I consider offering a new amenity I think hard about the cost to my wallet, my time and my sanity. For 17 years I stayed open in the winter because there is a small ski facility inside the resort gate here. I found the clientele to be different in the winter. Folks wanted to stuff 20 skiers in a room, bring little kids (not fair to couples on a getaway) and often they would try to come up here without four-wheel drive (then my husband would have to pull them out and then shuttle them to their car for the rest of the stay.) Too little profit for the amount of aggravation. I now close after leaf season and do any upgrades or repairs over the winter. When I open again in spring I am refreshed and eager to jump into it again.
Of course all situations are different. I just shared what works for me after much trial and error. I hope this helps you in some way or at least gives you something to think about as you jump into the business. Best wishes to you.