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Developing a Bed & Breakfast Business Plan

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North Central Regional Extension Publication 273

Developing a Bed & Breakfast Business Plan

Robert D. Buchanan Extension Specialist, Restaurant, Hotel and Institutional Management Purdue University

Robert D. Espeseth Coordinator, Illinois-Indiana Sea Grant Program Recreation Specialist University of Illinois Cooperative ExtensionService

Programs and activities of the Cooperative Extension Service are available to all potential clientele without regard to race, color, sex, national origin, religion, or disability. In cooperation with NCR Educational Materials Project. Issued in furtherance of Cooperative Extension work, Acts of May 8 and June 30, 1914, in cooperation with the U.S. Department of Agriculture and CooperativeExtension Services of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin. DONALD L. UCHTMANN, Director, Cooperative Extension Service, University of Illinois at Urbana-Champaign. The Illinois Cooperative Extension Service provides equal opportunities in programs and employment. Published in part by the Illinois-Indiana Sea Grant programwith funding from the National Oceanic and Atmospheric Administration, U.S. Department of Commerce. This work is a result of research sponsored by NOAA, National Sea Grant College Program, Department of Commerce, under Grant NA 89AA-D-SG058. The U.S. Government is authorized to produce and distribute reprints for governmental purposes notwithstanding any copyright notation that may appear hereon.This publication resulted from the activities of the Great Lakes Sea Grant Network, which is comprised of university-based programs in Illinois-Indiana, Michigan, Minnesota, New York, Ohio, and Wisconsin.

North Central Regional Extension Publications are subject to peer review and prepared as a part of the Cooperative Extension activities of the 13 land-grant universities of the 12 NorthCentral States, in cooperation with the Extension Service—U.S. Department of Agriculture, Washington, D.C. The following states cooperated in making this publication available.

* University of Illinois
Ag. Publications Office 69 Mumford Hall 1301 W. Gregory Drive Urbana, IL 61801 (217) 333-2007 Purdue University Publications Mailing Room 301 S. Second St. West Lafayette, IN 47901-1232 (317) 494-6795Iowa State University Publications Distribution Printing & Pub. Bldg. Ames, IA 50011-3171 (515) 294-5247 University of Minnesota Distribution Center 20 Coffey Hall 1420 Eckles Ave. St. Paul, MN 55108-6069 (612) 625-8173 University of Nebraska IANR Comm. and Computing Services Lincoln, NE 68583 (402) 472-3023

North Dakota State University Extension Communications Box 5655, Morrill Hall Fargo,ND 58105-5655 (701) 237-7881 The Ohio State University Publications Office 385 Kottman Hall 2021 Coffey Rd. Columbus, OH 43210-1044 (614) 292-1607 South Dakota State University Ag. Comm. Center, Box 2231 Brookings, SD 57007 (605) 688-5628 University of Wisconsin Ag. Bulletin, Rm. 245 30 N. Murray St. Madison, WI 53715-2609 (608) 262-3346 For copies of this and other North Central Regional ExtensionPublications, write to Publications Office, Cooperative Extension Service, in care of the university listed above for your state. If the office does not have copies or if your state is not listed above, contact the publishing state as specified.
IL-IN-SG-E-91-6 / 5M–4-91–77826–SH / 3.5M–12-94–86566–FW

Editor: Stephanie Hearn Designer: Krista Sunderland

* Publishing State

Contents

1.................................................................. Introduction 5 .................................................................. Step One 7 .................................................................. Step Two 10 ................................................................ Step Three 12 ................................................................ Step Four 15...