Would you start a new inn now, during this pandemic, or wait until next year?

9 replies [Last post]
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06/25/2020
Now
44% (4 votes)
Next Year
56% (5 votes)
Total votes: 9
Morticia's picture
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05/22/2008

Welcome

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What a long, strange trip it’s been.

 

Tdblanchard's picture
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07/04/2020

We’re doing it!!!
Just got our offer accepted for ours and if all goes as planned, we’ll close in September. Planning on laying down all the groundwork for three months and gradually opening up for the Spring/Summer season.

We’re probably crazy but this feels like the right thing to do...

gillumhouse's picture
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Congrats! Welcome to the Club of those working the hardest job they ever loved.

gillumhouse's picture
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05/22/2008

I am going to quality my answer - I made the assumption that the facility had already been acquired and it was simply a question of do we go ahead and open or just wait until next year.

IF the facility is not now in your possession DO NOT DO IT until things open up again. the last thing a new business needs is debt with no business revenue.

Silverspoon's picture
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If this is a business venture as opposed to a life-style change I would wait to take on debt.  This virus is not going away anytime soon and the economic impact on the world is enormous.  If you are not at all risk averse then go for it but I think the risk of taking on big debt in this economic climate is pretty risky. 

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JimBoone's picture
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12/18/2014

Maybe I'm odd, but to me it all depends on what you have in mind for an inn.

Is the new inn adventure  one that takes a huge investment, one from which you must immediately earn a ton of money so as to not "lose your shirt", if so I think I might wait, always enough risk in a new adventure without the virus.

or

Is the new inn adventure an area and home in which you intend to live anyhow, inn or no inn, one that perhaps needs to contribute to you income, but not to the point of breaking you for life if the money doesn't immediately come rushing. I that case I would probably move ahead figuring it can only get better in the future.

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Jim & Maxine

 

Morticia's picture
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05/22/2008

What do you think will be your prime season? More summer than winter? More fall and spring?

 What I’d get going right now is all of your behind the scenes work — regulations, website, knowing who your target market is, figuring out the best places to advertise, etc.

 It really depends where you live. Some sections of the country are still shut down, some never closed. Where will your guests come from? Nearby, far away, by car or plane? How easy is travel for them right now?

 If your area is open and other businesses in your area are flourishing, I’d open now. If everyone is lamenting the lack of guests, I’d wait and do all the background stuff getting your website going and visiting all the places your guests will want to go so you have photos and info on your site that guests want to see.

Arks's picture
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05/22/2010

I agree with Gillum. I gave the same advice to a friend who just opened a new restaurant. Normally new restaurants get swamped the first couple of weeks after opening, and that's when they are new at it and the staff isn't trained, so customers have a long wait and get a bad impression and some don't return. Much better to be able to do a slow opening and work your way up as you learn, and as business picks up.

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gillumhouse's picture
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05/22/2008

I voted now because it will allow you to "get your get wet" slowly.To learn what works for you and what does not - without being slammed. Although you do not say  where you are, if in a tourist area, you might still get slammed the first year which would not be a bad thing either.

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