Deciding to purchase an accommodation business in Blackpool will be exciting and at times daunting, however there is lots of help available, and you will find the following information useful
It will be crucial to ensure that all areas of your business work both effectively and efficiently, here is a guide to some of these core areas.
This is a question that many people who purchase a business do not want to think about at the time of purchase, and understandably, as the excitement of running a new business, be it a hotel, guest house or self catering property is all consuming, and why think of selling when having just purchased?
However, it is important before purchasing to feel confident a business has been bought that in time is re-sellable. Selling a business or having an ‘Exit Strategy’ in place should be thought about well in advance of it actually happening – usually between three and five years.
There are many things and reasons to consider when the time does come to sell the business. Why sell, who to, how, etc. It is necessary to think very carefully as to what the intentions are when a sale takes place, what to do with the proceeds of the sale, where to live.
The elements of a good Exit Strategy should mean that it is possible to:-
- Ensure that control of the business is sold/transferred to the appropriate people according to wishes
- Ensure that the successors, whoever they are, take over the business in a smooth and orderly manner
- Avoid or reduce any tax payable on the change of ownership
- Continue to provide ongoing and sufficient financial security for the seller and family in whatever is chosen to do. This also needs careful thought and consideration, rather than to just ‘get out’ of the business
Selling a business could be the most important financial deal ever made. For many owners, selling the business that may have taken years to develop may be emotionally difficult, and unless a business has been sold previously there will be no experience to draw on.
Blackpool Council will only recognise tourism accommodation businesses with a National Accreditation from 1st April 2009. Any business without a National Accreditation will not be able to access key marketing activity such as Holiday Guides, official Blackpool Tourism websites including on-line bookings, accommodation booking services for events and conferences.
Grants are provided to help you become accredited.
Having a National Accreditation will also mean access to free and discounted training and workshops.
More information - Why Should we be Nationally Accredited?
Customer Service is key to running your business. We recognise the Welcome to Excellence courses which are delivered through Lancashire and Blackpool Tourist Board, and we recommend that you attend these workshops. If you have a National Accreditation, we may be able to offer you a free or reduced cost course.
Welcome to Blackpool is our very own bespoke course, which provides workshop participants with all the local knowledge required when dealing with visitors to Blackpool. Any person dealing with visitors to the resort should attend this workshop, which is being offered free of charge to relevant businesses for an introductory period.
There are a number of areas of legislation that you will be required to meet when running an accommodation business, here are the main areas that you will need to check out –
Toolkit One and Toolkit Two, cover many relevant topics, important when setting up and operating a tourism accommodation business.
These Toolkits are available completely free of charge, and will prove useful to you, and help make your business a success.
To receive the Toolkits, contact Colin Wolfendale on 01253 477227 or email at colin.wolfendale@blackpool.gov.uk