If you dream of buying an Inn or Bed and Breakfast but are struggling with knowing how to finance a bed and breakfast with no money, we’re here to help set the record straight so you have the knowledge required to execute a purchase. Financing the purchase of any new business can be demanding and […]
Financial Tips for Success: How to Buy a Bed and Breakfast Read More »
The phone rings, and we answer… How may I help you? “Well…I would like some information on the So ‘n So Inn you have listed on The B&B Team website”. Thus the conversation starts and the journey begins. “For would-be entrepreneurs, sometimes the hardest part about starting a business is taking that first step.”
2016 The Year of the Entrepreneur/Innkeeper Read More »
Marilyn and I had the good fortune this past weekend to work with 9 excited aspiring innkeepers at our A Better Way to Learn InnkeepingTM seminar held at the Wayside Inn B&B in Ellicott City, Maryland. What a great group! We laughed and networked with Bill and Charlotte Schmickle of the Flag House in Annapolis but
K is for the 5 Keys to a Strong Business at your Bed and Breakfast Read More »
Just yesterday I received a call from an innkeeper with whom I have had a relationship who was considering selling his inn, a 7 room bed and breakfast inn in a nearby state. Just what we do! Thanks for the call! We opened up a dialog about the inn, its size, its location, discussed the process,
T is for Trust…Especially Between an Inn Seller and Buyer Read More »
Countless inns are participating in the Living Social and Groupon craze (not sure if I should use the word “fad” there, which implies a short-term shelf life) and, as seen in previous postings from Janet and me, there are a number of “rules of thumb” that can make participation worthwhile. One thing that is happening,
Is Living Social or Groupon Confusing Your Performance Indicators? Read More »
The Lakehouse Inn & Winery in Geneva-on-the-Lake, Ohio is the subject of our second interview with innkeepers who have used Living Social or another of the social commerce sites available. The opportunity for innkeepers to take advantage of these sites to pump up the volume of their business in the off seasons have become more
Living Social Interview II Read More »
Living Social and Groupon have offered an alternative avenue for filling off-season and mid-week rooms. But plan carefully. Here’s how…
What’s All this Stuff about Living Social and Groupon? Read More »
Occupancy rates are used throughout the bed and breakfast industry to indicate how often rooms are occupied. How occupancy is calculated is a mystery to many current and aspiring innkeepers, but it’s really very simple if you know what the rules are. The first rule is that a year always has 365 days except for
Calculating Occupancy for a Bed & Breakfast Read More »
by Peter Scherman Innkeepers are the best when it comes to delivering a great experience for their guests. Smiles come easily, breakfast is delicious, and the world just looks, well, rosy. Or does it? On the best of days even the best inns, as we well know, aren’t perfect. But if perfection is what you
An Inn Tune-up for Your Bed and Breakfast Read More »
by Peter Scherman of The B&B Team When you’re thinking of refinancing to make capital improvements to your inn, there are many questions to ask. In the analysis of finance and construction costs, anticipated revenues, and future value of the tangible assets, one question that is often overlooked is this: How will improving the physical
Refinancing Your Inn — Food For Thought Read More »
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