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Liz

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Hello, I need helpful advice, please!! I am interested in managing, hopefully owning, a small Inn or large B&B someday. I need to make a profit as I am not retired and would like to make a relatively decent/good income. From what I read, it appears that only larger B&B or Inns make much profit. Is that the case?
1. What is the average prospective profit for a large B&B or small Inn?Or where do I find research on that?

2. Is it an option not to live on the premises? I may like to live in a separate apartment near the area or in some adjacent space where I can have a small amount of privacy occasionally.

3. What is a good way to find an apprenticeship or positions to gain experience? Websites, email, or cold calling B&B and Inns?

4. What books do you recommend?

5. What type of courses should I take? Are there any good online hospitality programs, etc that offer good courses or internships or apprenticeships? There is Masters program in hospitality management not too far from I live, but I really do not want to spend two years in a program unless it is necessary. I am definitely willing to increase my skill set with courses though. What about small business management courses, etc.?
My background: I have experience in food service, catering server, retail/sales, cleaning condos, massage therapist. I have a degree in social work; performed casework, presentations, reservations, administrative duties. I have worked in tourist destinations, resorts, and in the city and enjoy diverse clientele. Customer service oriented, multitasker, problem solver, interpersonal skills
Please contact about opportunities, apprenticeships, work advice, etc.
Thank you very much for reading my post and any replies!!
Liz
 

Alibi Ike

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You can join PAII and get a lot of the info from their research.
Making money depends on too many things to go into here, so you are better off taking classes. (Search for 'B&B classes' and then pick one near to you. Your state - whatever state you're in- B&B association is a good place to look for reputable classes.) That is also a way to connect with local innkeepers (your state assoc).
I don't think any of us are 'retired' in the sense that we have a full retirement income coming in and don't 'need' the business to pay for itself.
Living off site is totally locality dependent. Some towns will let you, others won't. Some insurance companies will let you, others won't. If you need the biz to pay for itself AND provide you with a place to live off site, that's a bit harder to pull off. In a case like that you either need a pile of money going into it (low mortgage) or you need high rates and high occupancy (again, dependent totally on the area you are in and the need/desire for a B&B).
 

Tom

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You can join PAII and get a lot of the info from their research.
Making money depends on too many things to go into here, so you are better off taking classes. (Search for 'B&B classes' and then pick one near to you. Your state - whatever state you're in- B&B association is a good place to look for reputable classes.) That is also a way to connect with local innkeepers (your state assoc).
I don't think any of us are 'retired' in the sense that we have a full retirement income coming in and don't 'need' the business to pay for itself.
Living off site is totally locality dependent. Some towns will let you, others won't. Some insurance companies will let you, others won't. If you need the biz to pay for itself AND provide you with a place to live off site, that's a bit harder to pull off. In a case like that you either need a pile of money going into it (low mortgage) or you need high rates and high occupancy (again, dependent totally on the area you are in and the need/desire for a B&B)..
Alibi is right, study up the business side.
Note that when you say "would like to make a relatively decent/good income" in the B&B trade you are talking strong revenues which means a fairly large inn, in a good location, and that property will require a substantial capital investment.
 

Joey Camb

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Location, Location Location! it is better to buy a run down property in a busy location and work on condition than buy an amazing property and have no customers.
 

Breakfast Diva

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Your post is filled with wonderful questions, but it tells us that you haven't even started to do your homework. Take an aspiring innkeeper seminar. Look back at the threads here on the forum, there's tons of advice for aspirings.
After getting more info under your belt, then you might be able to focus your questions in a bit and we can help.
 

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