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Report on [Small] Business Magazine

Bed-and-breakfast (Ottawa)

Rent: About $2,800 a month for 1,000 square feet

Construction and licences: About $5,000 to $8,000 for refurnishing one room and a dining area

Staffing and insurance: About $1,000. A couple living in the home can usually run a B&B on their own

Initial inventory: About $3,000 for start-up food, linen, towels and other necessities. Extra furniture can more than double the price tag

Total start-up costs: Anywhere from $15,000 for a one-room conversion to more than $500,000 to build an operation from scratch

Where the money is: Getting customers during the busy summer season means you can charge a higher rate. Building connections with tour operators can also get you a piece of the action if you direct your guests to their services

Perils: The market is saturated, and it's difficult to differentiate yourself from other B&Bs

Why do it: "It's a great way to meet new people and generate a decent income without going far from home," says one B&B owner

How to break even: Rent out three $110-a-night rooms for 15 days a month

Recommend this article? 52 votes

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