You need to figure what ALL of your costs are going to be and then determine how much you need to make to cover those and make a living. If you have a reasonable idea of what the occupancy rate is going to be, then you'll be able to figure out what your room costs should be. Here our rates started at $165-$295 10 years ago and I've been increasing them yearly as my costs of food, utilities, etc. went up and now they are $200-$325. (Those prices are higher for peak times, holidays and of course foliage). In my situation, we live in a state where the property taxes are very high - I pay over $24,000 a year. So in that case, I better be able to make enough on the rooms with our occupancy to cover that $24K or that would come out of my income which isn't that much to support a family of 4.
By the way, I tried wine and cheese for a little while this past year. Our guests are very active people and often come back in from long days, shower and then go out to dinner. I was throwing out lots of crackers and cheese after it had been a couple hours and many people are particular about their wine. I realized that my afternoon cookies are much more popular for my crowd so I ditched that idea.
As someone above said, you should figure it so that you make a nice living doing it or you won't want to do it for long..
thanks for the reminder. I wanted to address the wine and cheese idea. it sounds romantic and inviting, but for us, it would be: 1) more cost and more importantly, 2) more time.
At 4 or 5 PM, we are having wine alright, but we don't feel like sharing. That is our time. We've done breakfast, cleanup, checkouts, room cleaning, laundry, food shopping and incidentals. It is now time to take 10 minutes for ourselves.
I'm friendly, but I need my quiet time.
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