I happened across this website while looking for bed and breakfasts for lease, rather than selling. I wished I knew about INNspiring.com 6 years ago. I will be meeting with a local Realtor about selling/leasing my property to the right person. I have a great seasonal business…….a little bit through the Winter months. A revolving door Mid-May through Halloween. I turn away approx. 200 or so inquiries, phone calls, walk-ups during July and August. You can be as busy as you would like. Would there be any recommendations for a reputable organization that has a specialty in leasing or selling B and B's. I am listed on Tripadvisor.com, The Elizabeth House B and B, Niagara Falls, NY. My reviews are listed. Any thoughts or advice would be greatly appreciated. Thank you.
May Sell or Lease!
- Thread starter Deb
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Hillbilly
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Welcome! From way it sounds like, you have a very successful business right now. I'm sure you would like to keep it that way. So here is a few thoughts that come to my mined.
1) Do not lease! Most likely the people you will have interested in leasing your property are people that want to test the waters of being an Innkeeper. If you sign a long term lease you might have to sit back and watch your business run into the ground. They really won't care if it sinks or floats because it's not theirs. It's not their TA reviews or customers, even with a lease it's still your business. I would not recommend this.
2) Hire a person or couple (instead of leasing) to run your property while you take a break. This way you can still be in charge and make sure things are running as they should. If you don't like what's going on then you can let them go.
3) Sell your property out right!
These are just a few thoughts you might want to think about!
1) Do not lease! Most likely the people you will have interested in leasing your property are people that want to test the waters of being an Innkeeper. If you sign a long term lease you might have to sit back and watch your business run into the ground. They really won't care if it sinks or floats because it's not theirs. It's not their TA reviews or customers, even with a lease it's still your business. I would not recommend this.
2) Hire a person or couple (instead of leasing) to run your property while you take a break. This way you can still be in charge and make sure things are running as they should. If you don't like what's going on then you can let them go.
3) Sell your property out right!
These are just a few thoughts you might want to think about!
Most want to lease vs buy. The reason? They don't have the money, and as Bob said, they can walk away...
Case in point for the other option
There is a B&B that was run into the ground by hired innkeepers, not a lease situation, but a long term innkeeping stint. So be careful. Close up shop and take a break yourself. Maybe that will help.
We are for sale, and I understand and feel for you.
Case in point for the other option
There is a B&B that was run into the ground by hired innkeepers, not a lease situation, but a long term innkeeping stint. So be careful. Close up shop and take a break yourself. Maybe that will help.
We are for sale, and I understand and feel for you.
walbertson62
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My BF, son and I are looking for a lease option on a B & B, I have 30 years experience running restaurants and turning them around. Troubleshooter, I am very good at turning around businesses. I am running the properties of my late mother who rents out rooms in all the houses she owned on a cul-de-sac. I hate Florida and looking to move up in the Asheville area of NC or Chattanooga TN area. I want to do a lease option so that I can build up the down payment for a purchase. I don't have a large cash capital that I can right out purchase, plus all the supplies that is needed, therefore a lease option would be perfect for us. I also ran my own wedding business in Florida for 3 years before selling it. We would either continue to make an Inn successful, or would definitely improve it and not run it in the ground. If anyone has such an option, we are open for discussion. Thank you for taking the time to read this.
happykeeper
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You never know what might happen. There may be someone willing to consider a lease option, although you will find the owner's perspective found here would steer your potential match away from such a thing. One of the biggest challenges is that those that want to try will have to put some skin in the game. Not many innkeepers will let you walk into a turn key without a contract that strictly favors their position and some significant kind of security.
An Old Tavernkeeper
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You MUST get a HUGE security deposit and tell the lessees that it will be more than double to get insurance as a lessee than as an owner. They need to budget that in or they will fail.
We are looking to lease and hopefully be able to buy our own bed and breakfast. I have experience running a resort and a few bar/ restaurants. My boyfriend is a general manager of Menards. I an currently employed by Red Lobster. This is something I have dreamed and thought about for years. If you'd be interested in hiring us to manage that is something we would love. Feel free to contact me. 7154091252.
Breakfast Diva
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Hi Becky,
Can I suggest that you remove your phone number from your post:? I'm afraid you might get some strange stuff happening. People can contact you offline from your contact info when they click on your name.
You might want to check out this board of job opportunities Good luck with your search!
Can I suggest that you remove your phone number from your post:? I'm afraid you might get some strange stuff happening. People can contact you offline from your contact info when they click on your name.
You might want to check out this board of job opportunities Good luck with your search!
Welcome
Sorry I thought you were looking to lease a place, not lease yours....this is unusual. I am sure you will get some takers. Check the site link in the other post.
Thank you for your help. Can't delete no edit button under previous post. I guess I'll deal with calls if it happens.
Lee2014
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BeckyT said:
OnTheShore
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Lee2014
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