I recently have come across the availibility of two huge homes, possibly three, in the Carribean Islands that are in the family. All of the homes are practically brand new but not being used. I plan on talking to the family members that own these homes and see if they would be interested in letting me turn them into Bed & Breakfasts. The tourism on the island that they are on is very lucrative usually with the Europeans. I am interested in finding out several things: the pros and cons of owning a Bed & Breakfast, is there funding for this type of business, and is partnering a good decision? Any information would be greatly appreciated. I'd like to add that I have been working in the Hotel industry for quite sometime so I do bring some hospitality industry experience.

Your idea sounds intriguing. The fact that you have industry experience will make a huge difference in securing funding. That is a main requirement for a loan.

Two years ago I would have said, of course there is funding for bed and breakfast businesses. Now? Not so much.

Are you hoping to buy the property or just manage it?

Sylvia
http://businessplanmentor.com
Business plan and start up resources

Well, I have an Aunt, Uncle, and a cousin that all have homes in the carribeans. They aren't really doing anything with them and each one is a 5-6 BR/4 bath homes. The island that they are on attracts alot of european tourists. I plan on getting a business plan together to show them how I can turn these homes into lucrative businesses. Seeing that its family that owns these homes, theres a good possibility that I would inherit two of the homes.