As we approach the middle of 2019, we are halfway through The B&B Team’s ‘Better Way to Learn Innkeeping’ seminar schedule. This year we have had the privilege of educating 137 aspiring innkeepers and still have 12 seminars scheduled for the year.
You know the old and wise saying, ‘look before you leap’? I also think the saying, ‘learn before you leap’ is equally important. All of us at The B&B Team feel it is extremely important for aspirers to take an aspiring innkeeping seminar before you leap into the middle of the process of acquiring your Inn. It makes the process SO much easier if you start at 1 and end at 8, successfully! It is your time and your money, learn how to spend it wisely!
1. Searching for your Inn
2. Inn valuation
3. Making the offer
4. Gathering your team
5. Due diligence
6. Business plan
7. The Exit Plan
8. The closing
Recently we have seen some attendees sign up for our seminars after they have made a purchase. They have started at 1, skipped to 3, maybe partially completed 4 and 5, ignored 7 and arrived at 8. Possibly making some costly mistakes along the way.
Let’s look at step 2, Inn valuation. A very important step. The B&B Team uses a variety of methods to value a property. We dig deep and arrive at a property’s value that is defensible and fair. The B&B Team has been valuing Inns since 1993, we know what we are doing. An extensive portion of our seminars cover ‘Property Assessments and Valuations’.
Besides the possibility of paying too much for an Inn because it was not valued properly, there is the possibility of buying a property you plan on converting into an Inn and then finding…zoning will not allow commercial in your location. Oops. That is just one example of the ‘assume nothing, ask everything’ part of due diligence. How to avoid the pitfalls..we talk about this a great deal in our seminars and we often get comments like, ‘I never thought about that’!
Our seminars offer a comprehensive group of sessions that cover a multitude of steps to guide you towards your goal of becoming an innkeeper.
Innkeeping is a wonderful business that comes with a great lifestyle, but only if you start with the correct knowledge. Only if you learn before you leap.
I will end with a testimonial that illustrates everything I have said here.
“Thank you Peter, Rick and Janet for one of the best seminars I have ever attended! Not only was it professional and informative, it was fun!!! I have never spent so many hours learning something new and enjoyed myself so thoroughly in the process. I can’t imagine anyone taking on such a life changing endeavor without professional guidance and advice. It is very exciting to have a feel for the ‘reality’ behind the dream. I am sure that you have saved us a tremendous amount of time, and we are really looking forward to working with you as we make our dream our reality!”
– Mary from New Hampshire
And yes, we do have fun while we teach and you learn. We eat well, tell stories that make us laugh and even shed a few tears. We have conversations, not lectures. And you leave with your heads full of knowledge. More questions? We always offer follow up time to answer them and guide you towards the next steps. We are here to help you start at 1 and end successfully at 8.
Thanks for Listening,