How These 5 Strategies Can Transform Your Inn Business

April showers can bring May flowers, they say. But what they don't mention is the pesky frost that can sneak up on you and ruin all your blooming dreams. As a bed and breakfast owner, you know the busy season is about to hit full throttle. So, don't let a little frost send your business into a chilly downward spiral. Follow these tips to get your business (and flowers) to bloom and thrive!

1. Stay current on industry trends and patterns.

Like any other business, keeping up with trends and connecting with others in the industry is crucial. Inn owners can optimize their investments and even limit relative price increases by following industry news and trends. Joining several innkeeper Facebook groups or subscribing to newsletters is another easy way to stay alert of insider happenings and see how other innkeepers respond to issues.

Is your inn adequately insured? Download your copy of our Innkeepers Insurance Guidebook to find out!

2. Make guest safety a top priority.

Your general liability risks are raised the moment you list your property online and welcome guests into your property. You want your guests to know they’re protected and their safety is your priority, but you also want to mitigate any potential risks.

For example, bathrooms are an easy place for a fall to occur. They’re prone to wet floors and lingering moisture on areas such as walls and inside storage cabinets. Leftover soap residue can cause slippery showers and tubs. The CDC states, “One out of five falls does cause a serious injury such as a broken bone or head injury.” Preventing any risks at your bed and breakfast helps keep you and your business from being in a sticky situation.

Before busy seasons, take a moment to have a property inspection done. The inspection of your property’s interior and exterior is designed to evaluate how safe your inn is and identify potential areas of concern. You may need to address certain safety risks immediately. Get a head start with these common risk exposures.

3. Good security is worth the investment.

Security should be a top priority when operating a bed and breakfast. Not only is it important for your guests to feel safe, but it’s also a vital factor when it comes to protecting your business. Smart technology makes it easier to always have strong security on the property. Whether your property is full of people or unoccupied for weeks, a security system is a wise investment. Though they are expensive, not having one could cost you more. If something were to ever happen at your property, a proper security system can alert and dispatch the police.

4. Conduct an audit of your business and risks.

Even seemingly minor issues, such as stray cords, dust buildup or leaky faucets, can spiral into significant problems if left unnoticed. By conducting an annual safety audit, you can help keep your property safe and secure, reducing the risk of guest injuries, lawsuits, property damage and costly insurance claims.

While there’s no way to account for every possible scenario that could affect your business, you can at least identify the major events. Once your plan is in place, make sure to keep it updated. Periodically revisit your strategy and make updates to ensure it reflects any changes to your business or list of emergency contacts. 

5. Protect yourself and your business with innkeepers insurance.

While some major factors are out of the control of inn owners, you can still take steps to mitigate against potential risks. Retaining adequate insurance protection — even during challenging times — is vital for financial security.

Failing to carry an adequate policy could leave even the most responsible and diligent owners without the financial means to repair or otherwise manage the aftermath of unexpected and challenging times. If you’re relying solely on your homeowners insurance to provide coverage, you could be exposing yourself to serious risks.

For additional safety guidance and insurance solutions for your business, connect with a member of our team.

This blog may contain scenarios that are provided as examples only. Coverage is subject to the terms, conditions and exclusions of the policy issued. The information provided is general in nature and may be affected by changes in law or the interpretation of such laws. The reader is advised to contact a professional prior to taking any action based upon this information.

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