Exit Planning of Lifestyle and Profit-Oriented Entrepreneurs in Bed and Breakfasts

ABSTRACT

With approximately 17,000 bed and breakfasts (B&Bs) currently in operation in the United States and the majority owned and managed by an entrepreneur, the entrepreneurial process becomes a focus of this sector of the lodging industry. This research examined the engagement in the entrepreneurial process, specifically exit planning among B&B owner/operators according to their entrepreneurial type (lifestyle or profit oriented). In addition, research questions evaluated motivational factors of job satisfaction, work–life balance, and family involvement related to exit planning. This study used a cross-sectional design comprised of B&B owner/operators, innkeepers, and entrepreneurs with geographic representation of the United States. This study concluded that B&B entrepreneurs are aware of and engaged in exit planning and the majority of B&B entrepreneurs are lifestyle entrepreneurs.