For many our Seminar for Future Innkeepers, a distillation of our collective 50 years of experience, is a logical next step. The first need for future Innkeepers is information; solid information about what makes Inns viable (size, location, style, etc.) how you develop business (marketing) and how to establish proper price and terms (valuation). We believe good information about Innkeeping and how to buy an Inn or Bed & Breakfast will make you a better Innkeeper.
Services for Future Innkeepers
Inn Partners works with many fine Inns and Bed and Breakfasts nationwide in the sale process. We also work closely with Inn Buyers to help them to find a property that fits their model. As mentioned above, we encourage prospective Innkeepers to attend our seminar as an early step in the process. The seminar gives an intensive overview of the process of buying an Inn, how to develop your model, understanding financial statements, and the purchase track. Click here for information on our upcoming seminars.
Inn Partners also provides in-depth consulting services to help you to identify and purchase an Inn. Some of the services we provide are:
- Helping you find a property – finding the right match!
- Valuation – A tool to determine the price as well as understand the opportunities to grow the business once you own it.
- Negotiate for purchase – we help you create your offer to purchase, present it and negotiate for its acceptance.
- We work with you to create the financing plan and identify potential banks for financing, we guide you through the process of financing, including SBA financing, guide you on the use of 401K supported investment in your business.
- We work with attorneys helping to guide the process to a mutually agreeable Purchase & Sales Agreement and eventual sale.
- We help you with the timeline of tasks that need to occur from the point of making an offer to closing.
- Our experience of 30 years of Inn Consulting for Inn buyers and sellers provides us with insight and solutions to issues and difficulties that arise in the transfer process.
Just as the internet has changed the transfer process for Innkeepers, it has affected the process for buyers as well. Parallels are many. The internet has intensified the old and unreliable real estate model. Listings on the internet are in the hundreds. Presented for the most part as real estate, these listings are rife with glittery pictures and florid prose,describing in detail every brass hinge and crown molding, telling us of the long departed notables who built or lived there. What is missing is any hint of income, occupancy, and cash flow, or any justification for a price that is likely to be totally unsupported by business activity.
Becoming Inn owners is a wonderful change for many people but difficult to accomplish without help. Inn Partners wants to help you. Please contact Inn Partners. We would love to talk with you – 877-957-2360 toll free or 802-257-2360 local.