Here are too many ways to turn your passion into a viable income. In this blog you will learn about how to make so much money online from lots of website and apps.By reading blog you will also find many good links which help you in making money online.
Whether you are just taking your first steps into the workforce or are looking for entry-level positions. Understanding the minimum wage in your area is...
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Reading Time: 3 mins
Whether you have already decided to invest in a holiday let to make some extra cash or you are not yet 100% sure if this is the right choice for you, then you have come to the right place.
Within the below article, you will discover everything you need to know about how to make money from a holiday let in the UK. From how to finance your project, to how to pick the right location, to how to provide the best customer service that will ensure your guests return to you time and time again.
Ready to start making money from holiday lets?
Let’s dive right in!
Unless you have a big pot of money stashed away just ready and waiting to be invested in a holiday let, you will need to decide how you are going to finance your investment. Although you could simply go to your bank and go through the standard (and lengthy) mortgage processes with the hope that you will be approved, there is a better option. By choosing a specific holiday let mortgage from a company that knows the holiday letting industry inside and out, not only will you have a better chance of success, but you will also enjoy a more stress and hassle-free financing process.
You may already have a specific location in the UK in mind for your holiday let, but you need to ensure that any emotional attachment you have for an area does not get in the way of making a sound business decision that will ultimately make you money.
It is vital that you do your research before deciding on a location for your holiday let, and, although less popular towns and villages will be cheaper to buy in, you may struggle to rent out your property when you want to.
Opt for a holiday let that is close to local amenities such as shops, restaurants, and bars but that also has popular tourist attractions including beaches, golf courses, and scenic walks.
Even if you buy an impeccable holiday let in a stunning area, you will not be able to make a decent amount of money if you fail to adequately market the property. The first step is to ensure that you have a selection of high-quality photographs of your property. Your images should be high definition, and if possible, you should create a “walk through” video of your home.
In the text of your listing, make sure that you include all the relevant information, especially anything that makes your holiday let stand out from the crowd. Competition is fierce in the holiday let business, so you need to really wow prospective guests.
Once the bookings start rolling in, it is important that you realise that your job is far from over. You now need to ensure that you provide an exceptional level of customer service so that not only will your guest return, but they will also leave great reviews for others to see.
In terms of housekeeping and property maintenance, both of these are fundamental to the success of your holiday let business. You can choose to carry out housekeeping and maintenance yourself, or you can outsource these tasks to a professional. If you do choose to do these on your own, prepare yourself for the fact that you may often get late bookings, and you will need to ensure a quick turnaround. If you cannot manage this, then it is advisable to hire someone to do this on your behalf.
As briefly mentioned above, reviews are everything when it comes to making money from your holiday let. Therefore, you should encourage your guests to leave feedback when they leave and post reviews on your website and social media pages.
If you experience a negative review, then you need to make sure that you do not issue an emotional, knee-jerk reaction. Instead, take the time to read the review and then apologise and say you will be in touch with them privately.
For positive reviews, always make sure you say thank you and share these across as many review sites and social media platforms as possible.
If you are looking to make money fast and with minimal effort, then investing in a holiday let may not be the best decision for you. However, if you are looking for a long term investment that will continue to make money for you for many years to come (as long as you put in the effort), then you should definitely consider this investment opportunity.
The post How to Make Money From Holiday Lets appeared first on MoneyMagpie.
Labels: News
Reading Time: 2 mins
The OpinionPanel Community is the UK’s largest youth research panel – founded in 2004, they have over 140,000 members. If you’re aged between 16-30 years old and looking to earn some easy money, this is for you. You share your opinion and earn points which can be redeemed against Amazon and other shopping vouchers!
Once you’ve joined, you’ll get 1,000 points for free, that’s worth £10 in Amazon or other shopping voucher credits! You can claim your vouchers once you reach 2,500 points, which is worth £25 in voucher credits. That typically requires you to take part in about 15 surveys to hit the 2,500 point threshold. Once you’ve claimed your £25 shopping voucher, you get 1,000 points again so you can start earning towards your next voucher!
The OpinionPanel pays fairly for your time; each online survey you complete being worth 50 – 500 points (50p – £5 in voucher credits). There are also opportunities to earn more through research opportunities like online communities and focus groups – which often pay £40+ in cash! Even if you don’t qualify for a survey, you’re entered into a monthly prize draw to win £50, and they also run competitions to win other prizes too.
There isn’t one! The OpinionPanel Community conduct research with big brands, universities and even the Government, who all want to hear your opinion on different topics. Their sister company is a research agency called YouthSight, you may have seen them quoted in the press. They gather up client questions and pay you to answer them!
So why not take advantage of these paid opportunities and get your voice heard at the same time? Your views will frequently end up contributing to political polls, help universities to improve their student experience, get fed back to policymakers, brand strategists or marketing specialists… As an OpinionPanel Community member you have a lot of clout!
They are members of Fair Data and a Market Research Society (MRS) Company Partner bound by the MRS code of conduct. They only do market research, so they’ll never send unwanted emails, offers or discounts (there are plenty of other places for student discounts), they don’t pass on your personal details to anyone or try and sell anything to you. Everything you tell them remains confidential and anonymous.
As well as taking part in research, The OpinionPanel community gives members the opportunity to get their work published on the Community blog. Articles written by members are posted every few days – perfect for an aspiring writer to get their work published! The author of the most popular article every month earns £50 via PayPal!
Good stuff. They are big supporters of World Land Trust, a charity that works to protect threatened habitats and endangered species throughout the world. We recently funded the purchase of 5 properties adjacent to the Pangi Forest Reserve in Borneo, helping to protect the critically endangered Bornean Orang-utan.
The OpinionPanel has definitely got MoneyMagpie’s seal of approval.
Click here to join now! Or browse their website for more
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Labels: News
Reading Time: 4 mins
We’re all online, all the time these days. Wouldn’t it be nice to earn something for it? You CAN! It’s easy to make money surfing the internet from your phone, desktop, or tablet – without doing anything differently.
Ipsos is a world-renowned consumer research company. They provide all kinds of data from how people shop in physical stores, to how they access local services, to – you guessed it – online behaviour.
You might even have had a chat with an Ipsos Mori representative in days gone by. They’re hired by all sorts of companies, from private businesses to local authorities to transport services. In the past, their information was always collected through questionnaires and interviews with people in person or on the phone. As you can imagine, that’s really time-consuming for them.
With the advent of digital technologies, it’s now much easier for them – and you – to collect information. The Ipsos Iris UK app quietly collects user behaviour in the background. It sends the info to Ipsos without you needing to do anything at all.
Download Ipsos Iris onto any – and all – of your internet-connected devices. Your phone, laptop, tablet, and desktop PC can all have the app installed – in fact, the more connected devices, the more you can be paid each month. You’ll need to complete a short 5-minute survey before the app activates. You only need to complete it once, though – not every time you use your device.
That’s it.
That’s all you have to do. Really.
You’ll get a £10 bonus just for downloading the app – and up to £10 a month every month afterwards. So, without changing anything about your day, you can earn up to £130 a year! It’s like free money – and everyone likes free money.
The user information on your Ipsos profile does help them to shape their data and survey reports. However, data overall is collected anonymously – so your info is kept private.
Download the Ipsos Iris app here to claim your free £10.
The Ipsos app isn’t the only way you can earn money (or, raise money for charity) surfing the internet. Try these other things to add to your side income!
Companies use web testers for a range of reasons. New websites need to perform effectively, while older sites need updating to make the most of the content and give the user a better experience.
You might be asked to test certain pages, a new website feature, or feed back on the entire thing. You could also be paid to take part in user testing that tracks your eye movements, so people can learn which parts of their website people are naturally drawn to.
We’ve got a whole feature about making money testing apps and websites here.
Websites like Inbox Pounds and Toluna pay you to give your opinion! Pick up surveys in your spare time and the cash soon builds up. How many surveys you can do depends on all sorts of factors – for example, parents tend to have more options as they can access surveys from childcare retailers. However, it’s a quick and easy way to while away the time and build a small profit while you’re at it.
Wonder is a website that people like journalists use to get a deeply researched answer to a particular question. They pay a flat fee and it’s easy to pick up assignments in your spare time. This is a bit more demanding than filling out surveys, as you have to actively seek out the answers and bring everything together in a way that the person buying the answer can understand. However, if you have a knack for always hitting the right Google search every time, it’s a quick way to earn some side money.
Swagbucks has its own search engine that earns you Swagbucks for your normal search activity. It also highlights when you can make even MORE from your searches with special deals. Convert your Swagbucks into gift cards when you’ve earned the minimum amount – and these include PayPal and Mastercard Prepaid cards, which you can spend anywhere!
It’s free to sign up to Swagbucks and start earning money surfing the internet.
Sites like Inbox Dollars pay you to watch videos on your phone. As well as the usual rewards-type efforts, like surveys and cashback, being paid to watch videos costs you nothing except a few minutes of time. We’re always subject to adverts anyway, so why not get paid for it?!
Slicethepie is a niche-but-popular website that brings together music reviews from all genres for all people. Make the most of your music addiction by writing up reviews of the latest albums and singles!
The site also includes reviews of things like fashion items and accessories, as well as TV commercials. Have your say for cash! Sign up to Slicethepie here.
If you’ve got a little more time to spare, there are plenty of things you can do to start building a side income. Read these articles for inspiration next!
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Labels: News
Reading Time: 4 mins
Companies need lots of eyes to make sure their premises, marketing, and even retail displays are doing what they’re supposed to. Shepper realised that it makes sense to use people on the ground local to retailers, businesses, and anywhere with out-of-home marketing (bus stops, for example!) to check up on them.
And that’s great news for anyone who wants to make money in their local area, in their spare time! Here’s what it’s all about and how to get started with Shepper.
Shepper is a service for businesses across the UK that runs checks on their marketing, retail displays, even rental properties, to make sure everything is running smoothly. The people behind Shepper realised that, with so many properties, marketing outlets, and retail or rental units out there, it’s difficult to manage them all to top efficiency.
The app uses Shepherds to undertake tasks for businesses. This saves the business so much money, gives you the opportunity to make extra cash in your spare time, and improves service for customers. Everyone wins!
Tapping into the local community means Shepper can outsource loads of tasks with ease. All you need to do is download the app to get started. To make sure they’re offering a safe service for both Shepherds and their business clients, once you’ve signed up you’ll need to do a quick verification step with your ID.
Once you’ve done that, you can choose when you want to be notified about tasks, where you’re willing to work, and how far you can travel. For those living in a city environment, it’s easy to make money simply pounding the pavement in your neighbourhood!
The Shepper app comes with a task checklist. When you’ve accepted a task for completion, you’ll follow the checklist to make sure you’ve covered everything required. This could be as simple as verifying that a property is empty (so businesses know to apply for things like water bill reductions), or performing several checks at a time (like the positioning of adverts and products in a retail display). You need a working smartphone to download the app, and have to allow camera and location permissions. That way, you can upload photos for the business customer to view, and the location permission tags your check to confirm when you performed the tasks.
Shepherds are also covered for accidental damage during their tasks by Shepper’s Guardhog insurance.
It all depends on how much time you have on your hands, how far you can travel, and where you live. Busy areas, such as London, will offer more ad-hoc opportunities. However, the app is growing exponentially and many businesses in rural areas and small towns also need your help.
A task pays between £2 and £20, depending on the type and details required. Shepper says you can expect to earn around £10 for a 45-minute task – meaning you can earn £100 in a day!
You’re paid monthly directly into your bank account, so the cash is accessible to you pretty quickly.
The great thing about Shepper is that you can pick your tasks around your life. It works like this:
The flexibility is the amazing thing about the Shepper app. Anyone over 18 with a smartphone can become a Shepherd, and you can either complete lots of tasks every day or just a few when you’ve got the time for it. There’s no penalty for not taking tasks if you’re too busy, either.
There’s a lot of variety in being a Shepherd for Shepper, too. You could do all sorts of things, such as:
Those are just some of the things you could be called upon do to as a Shepherd! As you can see, it’s a really varied service and businesses from all sectors use Shepper to support the functionality and efficiency of their organisations. If you’re a people-person, that’s even better – not all tasks involve interaction with people, but it helps if you’re confident striking up conversations with strangers if you want to do tasks such as property viewings.
It’s so easy to get started and you can make money as soon as your new Shepper account is verified! Check the information page and find the download links for both Android and iOS here.
We love the idea of Shepper: it makes the most of people in their local area, gives you a cash boost, and helps businesses run better. If you need more of a cash boost, as well as signing up to Shepper, try reading these articles next for more inspiration:
The post Make Money on Your Doorstep with Shepper appeared first on MoneyMagpie.
Labels: News
Reading Time: 4 mins
Looking for a role that will allow you to use your skills in a way that’ll provide help to a new mum, in the earliest days of her child’s life? If you love children and have a calm, caring demeanor, becoming a doula could be a great choice for you. You’ll be fulfilling a caring role, temporarily becoming part of a family. You’ll have the satisfaction that you regularly help a new mum out at the end of every day, too.
Here, we’ll think about what it might mean to become a doula, discuss how doulas work, and think about some alternative roles if you don’t think that this route is quite right for you.
Help a new mum: alternatives to becoming a doula
Doulas exist to provide support to mothers whilst they are pregnant, during the birth, and sometimes afterwards as they ease into motherhood. They are purely a support function, and might perform different tasks depending on the needs of the family or expectant mother.
This support might be practical or emotional, and could include some or all of the following tasks:
You can find out more about doulas via Doula UK.
There is a huge amount of variety with this job, as of course the help a new mum might need will vary between different families and circumstances. Some families will need a doula to provide emotional and practical support up to the birth, but not afterwards. Others might hire a doula specifically to be on call in the days running up to the birth, during it, and immediately afterwards. Others might only need help after their baby is born, as they get used to being parents or start to manage looking after more than one child.
As a doula, you might decide that your skills are best suited to focusing on just one of these areas. If that’s the case, you should make this clear when you speak to potential clients.
It’s important to know that a doula does not need any medical training. This is not a clinical role, but purely a supportive one. Doulas are primarily there to give support to a mother before, after or during the birth. They work alongside health professionals like midwives and doctors, rather than in place of them. They cannot provide clinical advice, but they can help a mother to seek out answers from qualified professionals if needed.
As we’ve established, the tasks that a doula might be required to carry out and the time that they might be needed for will vary hugely.
In most cases, though, the doula will have a couple of meetings with the parent/parents or the family before they are hired. This will give the parents-to-be a chance to discuss their needs, and the doula to let them know whether or not they will be able to accommodate them.
If the doula is hired, the work going forward is likely to be on a relatively informal basis. It is of course up to the doula whether they want to ensure that a contract is put in place to guarantee a certain amount of hours. You should come to a decision on pay, and on what level of support you will be required to give. If this needs to change later, or if the parents feel that they need you for longer than they had originally thought, you can discuss this when the time comes.
If you are going to be present at the birth, or providing practical support such as looking after older children whilst the new addition is born, you are likely to go “on call” some time before the due date. This might be a couple of days, depending on what the parent or parents decide.
There is no set route to becoming a doula. Some clients might feel that a woman with extensive childcare experience, or with a few children of her own, will be qualified enough. Others might prefer that you have undergone a course so that you can prove your credentials. There is no legal requirement to call yourself a doula, though.
Doula UK has a list of approved doula courses on its website. Courses tend to cost a few hundred pounds, and are likely to last between three and five days. They take place across the country, so hopefully there will be one close to you. Some are now offering socially distant doula training too, which is likely to come in useful. See the full list here.
If you don’t think that being a doula is right for you, there are lots of other ways that you can help a new mum out. Here are just a few of them:
Want to look after babies or older children, becoming part of the family for a few years? Becoming a nanny might be the right thing for you. Your role might also include cooking and cleaning, aside from childcare.
Childminders tend to work in their own homes, looking after a few babies or children at once. This might be a role for you if you have childcare experience and are recently retired, so are available for the school run etc.
Want to look after babies in a more formal setting? You’ll need a childcare qualification to become a nursery nurse, which you should be able to acquire via your local technical college.
If you want to take more of an active role in the clinical side of childbirth, you could become a midwife. You’ll need to go to uni to train in midwifery, so this will be a big time commitment – but you’ll end up with one of the most rewarding jobs that there is.
Have you had experience with a doula, or are you one yourself? We’d love to hear your story. Let us know over on the forums.
The post Become a Doula – Get paid to help a new mum! appeared first on MoneyMagpie.
Labels: News
Reading Time: 5 mins
Are you a good typist? A good listener? Or just spend lots of time tapping away on your computer? You could be making money as a transcriber. It’s a great way to supplement your income, and can be done from home. Making it great for anyone looking to work flexible hours. Here is the lowdown on transcription jobs in the UK – is transcription right for you and where can you find work!
Transcription is the process in which speech or audio is converted into a written document. It’s a crucial way for businesses to document anything from discussions and focus groups to formal interviews legal recordings. Medical consultants also rely on transcriptionists to handle their paperwork, too.
All research needs to be analysed and processed, and the easiest way for this to be done is in a written document. Large numbers of companies will need transcribing work done in some form and as the work is time-consuming, it’s almost always outsourced.
There are two types of transcription – verbatim and edited. Which type of transcription is used depends on the purpose of the transcription and what is hoped to be gained from it.
This is a literal type of translation which aims to record how something is said. Meaning that all pauses, errs, interjections, repetitions, and stutters, should be included.
This can be important in:
Sometimes this is also called a ‘clean transcription’. This type of transcription aims to make sure the content of a conversation is written in a clearly legible form, ensuring it is easily readable and grammatically correct.
This type of transcription can be used for:
Transcription jobs can be a great way to work from home. They’re an ideal option for those who want to manage their own time and the hours they work, with the flexibility to fit the tasks around family and other commitments.
Transcription jobs involve listening to various audio and video recordings and converting them into written reports. Transcription covers a wide range of areas; entertainment, journalism, market research, medical, and legal. Generally, you don’t need to have experience to become a transcriptionist. In fact, you just need to have basic computer literacy and be a competent – fast – typist. Most transcribing agencies require transcribers to pass a speed and accuracy test to ensure they meet their standards.
In some cases though, for more specific and specialised areas of transcription such as medical, experience may be required. The benefit is that these types of transcription jobs also pay more.
There are plenty of sites out there to help you find transcription jobs. Especially as most transcription work is outsourced – there are plenty of opportunities to be had and there’s always work around. You’ll find lots of transcription jobs in the UK – and many overseas, too. If you sign up to an agency based in the US, Canada, or Australia, bear in mind that your transcription needs to be written in that variation of English.
There are so many transcription sites out there. Some of the most popular are TranscribeMe, Go Transcript, and Daily Transcription. For most sites all you have to do is sign up, complete a short quiz, and transcribe some test audio to check you meet their requirements.
With all these transcription sites you can decide the hours you’re free to work, and even choose which hours to work. It’s an ideal job for students and anyone looking for flexible work they can fit in around other commitments.
Other places that you can look for transcription work is through agencies. Sterling Transcription, Premier Transcription, and TypeOut are all popular options who work with clients all over the globe. Apply online through their websites and become part of their transcription service.
Local businesses, news channels, and publications will likely all have transcribing working going. As this work is so time-consuming and employee numbers may already be limited, generally they’ll be looking to outsource this work to independent contractors and freelancers.
For many businesses, social media is one of the most effective ways to reach out to a large audience. Posting job opportunities on social channels is a popular way of advertising new opportunities now. So make sure you keep an eye on social pages, Facebook groups, and use hashtags to help your search.
Fiverr is an online marketplace for freelance services with project-based pricing. You can set yourself up as a freelancer and start advertising yourself on Fiverr so businesses actively searching will be able to find you.
Looking for more ideas on how you can make money remotely? Why not check out these articles next:
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Labels: News
Reading Time: 4 mins
Economic certainty is, well, never certain. Many people, in many industries, unfortunately realised that a recession, or in the case of this year, a pandemic, spells the end of their career. Not because they aren’t capable of doing it, but due to financial pressure their field of business or work feels. Having a safe job, making investments online, or having great savings can all protect you during a recession.
However, if recession has hit you hard, and you have either lost your job or are new to the job market, and you are looking for “recession proof” careers, you are in luck. There are a number of fields that still chug along just fine during a recession.
Even during a recession, the field of health care doesn’t stop, and in all seriousness, it can’t stop. Proper health care is a constant need, even during the worst financial times, and there are many jobs and careers in the health care sector that fit into most education and skill levels.
The current COVID-19 pandemic is an obvious example of declining economies not affecting health care. People get sick no matter the economy, and tough financial times also increase poor public health. Health care businesses are also one of the least likely to cut back on employees because, as stated above, people always need health care.
Much like health care, education doesn’t stop during a recession. Yes, some schools do suffer, but the number of children who attend schools does not all of sudden decrease or disappear.
Many school teachers are also part of labor unions, which adds security to the position as the jobs are much tougher to eliminate. Also, even if the worst outcome comes true and there are no teaching positions available, there are always teaching assistant and substitute teacher positions available.
Becoming a plumber or electrician does require you to go to school and study for it, but it is another, brilliant sector that is recession proof. Recession does hinder people’s ability to afford certain services, but if you have a major plumbing or electrical problem, more often than not you can’t “live with it”.
Much like health care and education, the need for these services doesn’t stop, no matter the economic circumstances. People are more likely to afford a professional to come in and fix their plumbing or electrical problem compared to buying a new geyser, fitting a new shower etc.
Another sector that just doesn’t stop is the freight, courier, and logistics sector. No matter what is happening with the economy, goods still need to be transported and moved, whether that is country to country, or within the country.
Whether it’s truck drivers, couriers, or even a desk job within the sector, the jobs are almost always protected against economic uncertainty simply because the services are always going to be needed.
The police force is another sector that is almost completely protected from recession. Recession does not make a country safer all of a sudden, and it is impossible to eliminate the need for police.
Unfortunately, it has been shown that crime sees a rise during a recession as people have less money, and become more and more desperate. It is most definitely a horrific consequence of recession, but therefore, police and police officers are still needed.
Police officers aren’t the only public servants that can survive a recession. Security guards, private security, firefighters, etc, are all still needed and used even during a recession. Once again, where these individuals work might change, but their services are still needed.
Firefighters are prime examples of this, fires don’t care if there is a recession or not. They still happen constantly world wide, if that is a world that you are interested in, it is also easy for people of varying skill and education levels, as training is usually provided.
Being a waiter, a chef or the like isn’t technically recession proof, but the skills you have allow you to work in multiple sectors. Yes, restaurants do close down during recession, but those aren’t the only places you can ply your trade or skills.
Other restaurants, hotels, BnB’s, all need chefs, waiters, dishwashers, managers, therefore your options are quite wide if the restaurant you are currently working at has to close down. As said, the jobs aren’t all necessarily recession proof, but the skills you have are.
The world of grocery stores actually offers a wide variety of positions. Whether it be shelf packers, checkout people. Buyers, managers, drivers, backroom staff. There are many positions available for varying skill and experience levels as well. Therefore this sector is a solid choice for someone looking for their first job, or someone who needs to change jobs.
Once again, some grocery stores do close, but the bigger chains can not only afford to survive a recession, but can also afford to keep basically all their staff employed. This goes back to the common theme of this post of the fact that these services are still needed no matter what the economy is doing.
As you can see, there is a wide variety of positions available to someone who is in need of a new job during a recession, or is concerned about how a recession will affect their current job. The jobs appeal to multiple skill and experience levels, and there is also something for everyone.
The post The best recession proof careers appeared first on MoneyMagpie.
Labels: News
Facebook Marketplace has grown as a popular place to sell off your stuff. It’s a great way to get rid of things that you no...
The post 5 Best Things to Sell on Facebook Marketplace appeared first on SavingAdvice.com Blog.
Labels: SavingAdvice.com Blog
Reading Time: 11 mins
Fancy working from home running your own B&B? Why wouldn’t you?! It could be a great way to make money, meet people, and create a profitable business. There’s a lot to think about too, though.
If you’ve never considered turning your spare bedrooms into a guest house, have a think about these questions first:
Running a B&B is not an easy task, so consider all aspects before you decide it’s a yes. If you get it right, it could turn into a great business – or at least an additional source of income.
First, and this is crucial, think carefully before you take the leap.
Yes, running a B&B is a fantastic way to work from home, meet new people, and be your own boss. But it can also tie you to your house and take away much of your freedom.
You’ll also need to consider the costs and legalities to kick things off. Do your research. Talk to people. Make sure you know exactly what the cost and paperwork is before you jump in.
If you’re not sure where to start, read and learn. There’s lots of advice online from those who paved the way. Alternatively, take a look at books such as How to Start and Run a B&B, 4th Edition by Stewart Whyte (2018) or Running a Bed & Breakfast for Dummies. They provide a good insight into the nitty-gritty of running a B&B, with lots of practical tips and advice. You could even take a course with the Bed & Breakfast Academy. Finally, check out the Bed & Breakfast Association website.
If you’ve done some reading and still think running a B&B is exactly what you’d love to do, consider the following:
Your part of the world has to attract people for your B&B to make profit. Think about what makes it special and what would encourage people to visit. Do you live in a picturesque village by the seaside or in a busy and bustling city? How close are you to transport links and tourist attractions? Could you offer weekday stays for commuting professionals? Is your area the sort of place that people will want (or need) to come to and stay in? Having a big house with lots of rooms is only half the battle won. Think about your unique selling point.
Once you’ve considered what your area might offer potential visitors, think about who those may be. The chances are you won’t only cater for summer tourists looking for short-term accommodation. You might find that during the week business people come to your local area for conferences. Or perhaps it’s a university town with lots of parents visiting their studying children. All of those will provide a good stream of business all year round. You should also have a think about how you’ll approach guests with particular requirements, such as disabilities, families with young children, or guests with pets.
This doesn’t just mean other B&Bs in your area – although you should consider those too. Having competition can be both a good and a bad thing. Some B&B owners find that having similar businesses in the area is a boon as they can absorb tourists that other guest houses can’t cater for.
Other than that, think about businesses around you. If you live in a city, make sure you exploit your closeness to a large range of shops, facilities and entertainment venues. If you’re based on the coast, take advantage of all the traditional amusements. But if you’re based in a rural setting, think about what hikers and outdoor adventurers seek from their overnight accommodation (such as transport to nearby rail links).
Going back to thinking about your unique selling point, is there something extraordinary you could take advantage of? Stunning views and prime location are the usual winners, but not everyone can rely on that. If that’s not what your local area is about, dig deeper. Can you offer specialist cooking or a ‘pets welcome’ service? Perhaps your home is of historical interest? If you live near a theatre, could you offer accommodation to jobbing actors or cater for conference-goers?
If you’re stuck, check with your local tourist board or tourist authority to see if there’s demand for a B&B in your area. They’ll be also a useful point of contact for a lot of things as you’re setting up.
If there are other B&Bs, do a bit of market research. Find out what they offer and at what price. Can you do what they do better and cheaper? Or even better and more luxurious for a premium service and price?
You might also consider doing a survey to find out what people want from a B&B. Send it to friends, family and colleagues to get a good range of responses. Use that to inform your plans. Once you get going, ask guests for feedback. Also ask them to review your place on TripAdvisor and Google – both of those are useful ways to get business in for free.
You’ll definitely need specialist insurance to cover you for things like public liability (for instance, if your guest gets injured and takes action against you). Good insurance is fiendishly difficult to find from high street providers, and hotel insurance (although it’ll cover you) usually costs a bomb.
For this reason, you’ll need to look for a specialist. Quoterack and Premierline Direct, for example, offer specialist B&B policies, and you’ll find other niche insurers online.
If you don’t know a B&B owner who can recommend an insurer, spend some time getting quotes from various companies. Or perhaps speak to BIBA – the British Insurance Brokers Association, which can point you in the direction.
It’s key that you have a good idea of what’s expected of you regarding food standards and hygiene, fire safety, access for disabled guests, and business practice. A lot of it is obvious, for example, making sure you have appropriate fire exits and smoke detectors. But you should also be aware of things like how to display your room rates and how to accurately advertise your business.
Visit Britain is your one-stop shop for this sort of thing. Their website offers an up-to-date guidance on tourist accommodation laws and general advice on dealing with guests and staff.
Get our free eBook on 101 ways to save money in the home here.
Before you take the plunge, you’ll need to do the maths to work out whether you can make a living from running a B&B.
This depends on your lifestyle.
You might want to keep your day job or get a part-time job while the business builds up. Some people manage to make money from the start, but don’t expect miracles. Those things tend to take time.
Will you be carrying out major structural changes or just redecorating? Will you set up the B&B at your house or will you be taking out a mortgage to buy a suitable property?
You’ll need to remember to factor in new furniture, extra linen and any adjustments to comply with fire safety legislation.
As well as ongoing marketing and insurance, things like replacing linen and crockery can add up too. Also, you need to consider if you are investing in an airbnb property management software or if you are outsourcing a private management company.
If you’re running a luxury B&B, your costs will be higher.
Don’t forget that your utility bills will increase too, depending on how many guests you accommodate. Make sure you shop around for the best water, gas and electricity deals.
Realistically, this will depend on a few things.
It’s hard to tell how profitable your B&B may become straight away. It’s the case with most businesses. You’ll only get a good idea of the kind of money you may make once you’ve got things going. The first few years for any new business tend to be lean. Don’t be disheartened if you don’t instantly turn a huge profit.
The Start a Bed & Breakfast website offers advice on practical issues such as how to set room rates and how much profit you could make.
But before you turn any profit, consider the cost:
You’ll know from your own experience going on holiday that good marketing is essential.
Attracting guests can be tough at the start, but there are a number of things you can do to market yourself for next to nothing.
Give people the chance to find you. Your website doesn’t have to be fancy – a short site explaining where you are and how to get in touch to book a room will do.
You can create a page using one of the free website-creating packages on the market. Try something like Weebly.com for starters. If you have the budget for it, you can get one done professionally.
Your site should contain:
A bigger website will attract more visitors. If you take photos of the exterior and interior, that’ll definitely help – as will references from former guests, once you’ve had some.
Marketing is a long-term project. If you want to attract guests, sell them your business.
It should get easier with time as you’ll benefit from repeat custom, recommendations, and a strong local reputation if your place is good.
Your business will be as successful as you make it, so get stuck in.
Running a B&B doesn’t have to be a full-time commitment 12 months a year.
If you’re interested in part-time or even just occasional work, it’s easy to do with Airbnb.
You can advertise on Airbnb for free – you pay when your home gets booked. The site charges 3% of the amount you get.
With Airbnb you can choose exactly which days, weeks and months you want to rent your room or the whole house out. You can also work out a good price based on what other people are offering and decide what the minimum stay would be (some people put three nights or a week, for example). You can add on extra amounts for cleaning and other charges, or take off a percentage for long bookings.
If you rent out your home in the UK via Airbnb, you don’t need to pay tax on the first £1,000 you earn this way per year.
Running a B&B can be a great way for older people to supplement their income. It’s a good solution if you love your home and don’t want to downsize after the children have left the nest.
Other than earning extra money, many people find running a B&B to be a fun challenge – and a far cry from the hysterical Basil and Sybil experience in Fawlty Towers. It can also be a way of making friends.
Stephanie Gretton runs a B&B with her retired naval husband Michael, as advertised by Alexander Sawday and his upmarket B&B guide.
Based near Winchester on the lovely river Itchen, their home attracts fishers and music lovers attending the Grange Opera near Arlesford in the summer.
The Grettons’ house, garden and location have lots to offer and they seem to work hard to provide the best. Stephanie prefers the behind-the-scenes work, while Michael enjoys looking after the guests.
Stephanie finds it hard not to be perfectionist: “We have two double rooms and offer a high standard at a reasonable rate. When guests step across our front door, it’s like having friends stay.”
She does find it tiring at times and ideally, she’d prefer to have something separate for their guests. There’re also other drawbacks.
“In the busy season we can’t have our children to stay with their kids because someone crying might disturb the guests,” she says.
Serena and retired lawyer Philip Jamieson live in Derbyshire. For them, it’s their swimming pool that attracts online traffic.
Their business style is different to the Grettons.
“We were keen not to let it take over, so we have a simple self-contained cottage in the garden which sleeps two. Guests make their own breakfast in their kitchen,” Serena explained.
“I think B&B isn’t for everyone, though we have certainly got a lot out of it and it’s great to have the income. We do Airbnb.
“We’ve met some nice people and it’s flattering when they come back, but we don’t strive to be up-market and we tend to concentrate on summer bookings. Ideally, we want it to be a pleasure, not relentless, and the fact that our guests are separate from us helps a lot,” she added.
Christina Baxter, a widow with grandchildren and lots of energy, decided in her late 60s to refurbish her thatched, 17th Century Mallary Cottage in the village of Bildeston, Suffolk.
“The cottage was so old and crumbly that I could only get insurance for the project if I was in residence throughout, which was pretty uncomfortable at times,” she explained.
The refurb made her think about celebrating the cottage’s redecorated rooms. In 2012 she opened ‘The B&B Retreat’, offering double rooms and en-suites. She says she appreciates the extra money, but – like the Jamiesons – she doesn’t rely on it.
Using B&B income for treats and extras is a nice, relaxed approach – if you can afford it.
For Christina, the challenge was marketing and modern technology. She found innstyle.co.uk, a site offering software packages for B&B, self-catering, holiday cottages and similar, very helpful. Inn Style transformed her B&B administration.
“The internet makes things easier and manageable – especially when running the B&B,” she says.
Last words go to retired teacher Janey Manton and her husband David, who enjoy having their guests and find the extra money very welcome.
“Our location helped us get started. It’s good to have something to offer, like Dartmoor in Devon, where we live. We’re not far from the A30 so attract travellers wanting a pit stop on the way to Cornwall,” Janey explained.
“If you have a bedroom en-suite or two, and preferably a nice house and garden, and feel you still have the energy at 50-60+, go for it,” she advised.
Do you want to set up a B&B but have questions about it? Ask us in the comments below.
The post Make money running your own B&B appeared first on MoneyMagpie.
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Running your own business can be all of the following: exciting, draining, liberating, stressful and rewarding. Still, it doesn’t matter whether you’re aiming to start up a shop or become the next Richard Branson – if you follow the 20 tips below, you’ll find your life – and business – will be made much easier!
Don’t spend any more than you have to on your start-up. Loads of big businesses start small: Laura Ashley began on her kitchen table, M&S started out as a market stall and Tesco was just a couple of local grocer’s shops in the beginning.
So, before you fork out, unnecessarily, consider:
Don’t assume that people will pay on time as they normally don’t. Instead:
Starting up a new business can be hard and any financial help can really make a key difference. If you’re a new start up, look into invoice factoring options at Hitachi Capital today.
You can also take advantage of online accounting software, such as KashFlow, which makes invoicing easier to manage.
As the saying goes: ‘If you fail to plan, you plan to fail’.
Therefore, even if you’re just setting up as a freelancer, you need to give yourself a clear idea of your monthly costs and how much profit (or other income) you must generate to keep yourself afloat.
Work out what your monthly income need to be. Make yourself a chart for the next 12 months showing the growth in revenue that you can realistically generate and be clear on how you’ll generate those new clients.
It’s a tough thing to guess, but just the action of thinking it through will provide you with earnings goals and points to consider as you run your business. The Prince’s Trust and the Start Up Loans websites both host business plan templates that can be downloaded for free at the touch of a button.
The more you’re ‘out there’ touting for work the more likely you are to get the work. With the internet it’s possible to meet people without leaving your desk.
Join online networking groups and forums and start giving useful advice on areas directly relevant to your business. This raises your profile in a positive way. But don’t spend too much time on it – allocate a certain amount of time each week and stick to that.
Get business cards printed, get out to networking events in your area and make sure you take your business cards wherever you go – you can meet interesting and potentially useful people anywhere.
Have something beneficial that you can offer people when you meet them – make reference to it on your business card or on the website that your business card should refer new contacts to.
Don’t go out and try to ‘sell’ your business or your service. Networking is usually a two-way street, where you create support by being useful to people who then go elsewhere and talk about you in a positive light. Don’t thrust your business card at other people – ask them for theirs and don’t give them yours until it’s asked for. Once you’ve met someone send them an email within 48 hours providing something useful, or the place where they can find that useful thing (e.g. on your website). They now have your contact details and a positive association with you.
Don’t shy away from the sales and marketing aspect of the business. Learn how to do it. Study it and practice it. You will probably find it nerve wracking at first but get through it! Question everything you do in the business, asking ‘how is this going to make money?’ If it won’t lead to a profit, then don’t waste your time doing it.
Lots of government pamphlets for new businesses devote pages to different forms of borrowing. Ideally though, here’s what you should do:
This is money that comes in when you’re not working.
If you haven’t already, get online. Use online services such as WordPress and Wix to build a website that is totally free.
Once your website’s up and running, here’s how you can keep visitors returning to your site:
If you need to advertise (and it’s better to promote yourself for free to start with) make sure your advertising is targeted, specific and within an advertising budget. Before exploring online marketing packages, think about the following:
Serious business owners set up with an exit strategy in mind from the start as this allows them to plan the business and know why they’re doing it – only then can they effectively plan how they’re going to achieve what they want.
Acknowledge why you’re in business – what’s the lifestyle that you want to achieve? Is this business going to help you achieve this? And at what point will you know that this has been achieved?
What kind of profit level do you need to reach to command a decent fee, and what will you have to do to create that profit? At what point will you want to sell the business or hand it over to your kids to run?
Don’t make the mistake of being blinkered about what you want to produce/sell. You have to be very aware of what your potential and existing customers want – not just what you think they want.
Do speak to potential customers – before you start up your business and as an ongoing habit. Take them to lunch, pick their brains, ask them what they want and need, what they hate and what they’d pay extra for. Do keep a realistic perspective of what’s selling as your business develops. Is there a sideline product or service that’s very popular and takes less effort than the main offering? If so, focus more effort on it. Do be honest with yourself about what works, what doesn’t and why you’re in business. If you have to make enough to pay the rent, you need to be brutally honest about the success or failure of products pretty quickly.
Admin is a drag, everyone hates it – but it must be done. In college, you could get finance homework help, but now you have to face the harsh reality.
Make sure you:
Now that we have entered the virtual world, it’s getting cheaper and more efficient to outsource large chunks of a business to UK and Asian-based services.
An overseas Virtual Assistant can do everything from responding to calls and emails through to bookkeeping, serious business research, and web development for around £7 an hour. Search the internet for Virtual Assistants and test three at the same time with small, but very similar tasks. Rate them in terms of value for money, accuracy, responsiveness and common sense (this is very important).
This is an extension of tip number nine (don’t buy advertising).
Work out a detailed profile of your target market: where they live, what they read/watch/listen to, if they have children, if they drive a car or own a home, whether they’re professionals, in a particular business sector or part of the country. Work out an interesting and relevant letter or email blast to send to these people offering them something genuinely useful up front. Put a time limit on the special offer so that they have to take action.
As the American industrialist Andrew Carnegie said: “The men who have succeeded are the men who have chosen one line and stuck to it.”
Don’t try to enter a competitive market that requires a great deal of capital and experience. If you’re reading this then you probably don’t have the capital and experience combination that’ll be required! Stick to something that you either know a lot about already or something that really interests you so that you’ll want to find out a great deal about it. If you carve out a niche and personalise it (e.g. be friendly and talkative on your website or in your correspondence), this will differentiate you from everyone else in your market. Combine this ‘difference’ with your market knowledge and the fact that you’re in a relatively small market and your chances of success will be increased.
You become like the people you associate with so associate with people who are like minded. Join appropriate industry associations – these will also give you the lowdown on relevant industry threats, opportunities legislation and the like. Meet or converse with other entrepreneurs who have nothing to do with your market sector. They’ll be happy to share solutions and encouragement with you in a way that your current friends cannot because they don’t really understand what you are going through or why.
Setting up a new business can be a 24/7 activity and it’s very tempting to spend all your waking hours in the office. But to make sure you’re not overstretching yourself, re-charge your batteries every so often.
Book time off for yourself in your diary (including evenings off to do a sport or socialise). Set hours that match with your most productive times and allow yourself to spend time with your loved ones – they’ll need to know when you’re not going to be working! Revisit your tasks and see what you can outsource cheaply (see tip eleven). Prioritise tasks and see what you could ditch – temporarily or permanently. Be brutal and honest about this – don’t do certain tasks because you enjoy them, do what brings in a profit.
So you’ve got your mentors. Don’t undo that good work by spending time with people who are dismissive of what you’re trying to achieve. Don’t spend too much time with people who make you question your goals and ambitions. People will always criticise what they don’t understand; find someone who you can teach and help. That’s when you really learn AND it’s one of the most rewarding elements of being in business.
Make a habit of looking for a free (or at least cheaper) way of doing what you need to do. Contact colleges and universities to find people who want to build their CV or portfolio and will do free or cheap work on websites, photo shoots, design etc. Put an advert out to schools and colleges, as well as social media networks, for work placements and internships if you feel there are jobs that can be learnt fairly quickly and that will benefit the person doing them even if only through the experience of the real world.
Keep talking to other entrepreneurs, government agencies and business organisations to find out about free things you could get your hands on. See if you can get hold of office equipment through Freecycle, Snaffleup or the free section on Gumtree.
Running a business should be creative, satisfying and enjoyable. It’s a chance to express yourself, meet interesting and creative people, potentially make a lot of money and create a whole new life for yourself.
So do everything you can to enjoy the process of being in business. And make the most of the good times – when you get a big contract or when you complete a difficult task – because the challenging times will come around soon enough.
If you liked this article we think you’ll also like: Making extra money – do I have to pay more tax?
If you’ve got experience of running your own business or have any questions, leave a comment below!
The post Top 20 tips for running your own business appeared first on MoneyMagpie.
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