Common Mistakes When Buying a Bed & Breakfast
When buying a Bed and Breakfast there is much to learn, especially during the first year. We have seen new Innkeepers purchase their Inns and think that they completely understand innkeeping, even when they have never experienced it. Add a restaurant at the Inn on top of this, and it is even more complicated. As a past Innkeeper with a dining room, I completely understand the dining room concept and the complications. It usually takes about five years for Innkeepers to reach out and ask for help, and unfortunately in many cases it is just too late. Maybe our Innkeeper friends can help us in stopping this trend, and that is just what I am asking for.
So let me set the stage. Most buyers do not have previous experience and if so it is usually minimal, as in a part-time job. Add to this equation, a dining room. How can they be successful without any education of running a dining or Inn especially if the previous owner does not participate in the transition? What would you suggest that they do to make sure they are successful?
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