All Bed & Breakfasts/Inns are unique by design; in fact, it is that special and unique quality that distinguishes one Bed & Breakfast/Inn from the next. Innkeepers invest their creative energy and capital over time to create a welcoming and hospitable environment that is unique to their community and valued guests. While the charm and ambiance of an inn add to a patron’s experience, such intangibles have only an indirect effect on the actual value. So, how can an innkeeper determine a …
Articles
Tips for Innkeepers Preparing for a Sale of a Bed & Breakfast or Inn
Conventional wisdom among B&B/Inn consultants is that an innkeeper should have an exit strategy the day they purchase the inn, in fact, some contend it should be part of the initial business plan. Since it is my job to work with a buyer from an aspiring innkeeper to innkeeper, I thought it might be useful to discuss this issue from a lender’s perspective. If you are planning to market your inn for sale in the near future and had written a business plan prior to buying your b&b/inn, get …
8 Broads in the Kitchen’s Latest Cookbook:Desserts!
The 8 Broads in the Kitchen love to stir up fun in the kitchen! They are on a sugar high, celebrating their 10th anniversary with the publication of their third and sweetest cookbook, Desserts! A dessert cookbook with stunning photos and mouthwatering recipes. Desserts! has a variety of treasures to satisfy any sweet tooth - from cakes, cookies, cobblers, and crisps to pies and puddings; from family favorites and fruit desserts to icy treats and cocktails; from prize winners to family …
Six Myths About Inn Financing
By Rick Newman, Founder of Commercial Capital Network 1. Any bank will finance the purchase of an Inn or Bed & Breakfast. THIS IS A MYTH - Many banks view the hospitality industry as a high-risk property type of business, second only to restaurants. As such, if a borrower is under-capitalized or if the property is under-performing, many bankers may not dedicate the time necessary to understand the whole picture. Banks who portfolio their commercial loans may have limits on property …
Prequalification for a Loan
The Prequalified Buyer™ evaluation and designation provides Aspiring Innkeepers a credible way to quantify how much purchasing power they have as it relates to identifying hospitality properties that best fit their financial qualifications and professional/personal objectives. A Prequalified Buyer™ designation identifies a person or persons as having submitted, the required proofs and documentation for verification and analysis; before identifying or contracting to purchase a specific …
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