Section 2: Starting a Rural Accommodation

2.5. Feasibility: is Commercialisation Realistic?

This subsection deals with commercialisation of your accommodation. The financial plan is important to know whether you have the necessary financial means to start up an accommodation facility and whether your business can justify this investment.

Generally, to be able to assess the feasibility of your plans you should have a clear idea about::

• Your future accommodation product and required investment and material assets
• Adaptations of the exciting facilities or construction works required to build a new accommodation, with the estimation of costs for exterior and interior works
• personnel and their wages
• marketing activities and required budget
• required permissions and procedures of starting the business and their costs
• total investment in money and time required to realise your plan
• rates for accommodation services
• demand for services of your type in the region; estimated number of guests expected in the coming years

Most of the above issues have been discussed in the subsection From Idea to Plan.

2.4.9. Continuous Training

Example: Accommodation Feasibility for a B&B