Introduction

[Morticia]

ah well you are welcome to come and get some "unpaid training days here!"
No you are wrong, you need to ask for all the help you can get - some people think its just opening up your door and serving breakfasts. First advice: Do not "re-sign" any existing contracts (credit card, pest control, insurance etc) - everything is negotiable and you need to know what you are looking at. Example - you need commercial insurance. The formers owners of this Inn "thought" they had it, but they never did. Credit card fees are NEVER GOOD when you take over a business, go to feefighters.com and see what they can get you, do not LEASE cc equip and make sure you are set up as hospitality. Pest control - anywhere near the south? MONTHLY..

Yes on the pest control. We are known for our bugs and termites will eat a structure before you know it. Fortunately, I have office equipment, etc but have never dealt with credit cards. So, I need to learn about that too.
Current owner has no employees. She uses Webervations, is that a good booking site? Other than her insurance, she has no standing contracts.
Can you point me in the right direction to research insurance companies?
~~g
.

Can you point me in the right direction to research insurance companies?
~~g

Start local where they know what they're talking about. If no one will take you on as a business entity (and keep in mind that in your private space you may be a 'tenant' depending on how you structure your business) you can start looking statewide and then nationally. Luckily for us, this state has a large cohort of B&B's and other very small businesses so there are a few really good banks, insurers, accountants and lawyers who know how these things work.
How about your broker? Are you buying with a broker? That person should be able to give you leads on who does what in the area.
If you do incorporate, make sure if you are a tenant that you have renter's insurance for your stuff.

 

[Samster]

Gingerbread! Best of luck...innkeeping is not for sissies. ;-) There's lots of good advice here though from folks who have been there, done that, and still doing it.

 

[agoodman]

There are VERY few (and getting fewer) insurance companies offering commercial insurance for B&B's ask a local broker but remind them you need COMMERCIAL B&B insurance ... my broker uses UTICA and another one is JAMES WOLF who I don't think you need a broker for ..remember brokers get comm so going direct you should get a discount but I don't think you can with UTICA
I have to admit I MUCH prefer Res Nexus to Webervations it's simple and easy and has all the options and reporting that I need

 

[gillumhouse]

ah well you are welcome to come and get some "unpaid training days here!"
No you are wrong, you need to ask for all the help you can get - some people think its just opening up your door and serving breakfasts. First advice: Do not "re-sign" any existing contracts (credit card, pest control, insurance etc) - everything is negotiable and you need to know what you are looking at. Example - you need commercial insurance. The formers owners of this Inn "thought" they had it, but they never did. Credit card fees are NEVER GOOD when you take over a business, go to feefighters.com and see what they can get you, do not LEASE cc equip and make sure you are set up as hospitality. Pest control - anywhere near the south? MONTHLY..

Yes on the pest control. We are known for our bugs and termites will eat a structure before you know it. Fortunately, I have office equipment, etc but have never dealt with credit cards. So, I need to learn about that too.
Current owner has no employees. She uses Webervations, is that a good booking site? Other than her insurance, she has no standing contracts.
Can you point me in the right direction to research insurance companies?
~~g
.

I had Webervations and liked it (1.0) BUT changed to ReservationKey and love it. Depends on YOUR needs.
Insurance _ I was with james Wolf and the rates went up to where I was in business to pay them. Depends on which side of the age scale you are on. Since my future s roast & toast, I am not worried about what if. I am with Erie as a B & B but just have CYA insurance. If you have a future, Wolf is the Porsche (I only need a Yugo).

 

[muirford]

ah well you are welcome to come and get some "unpaid training days here!"
No you are wrong, you need to ask for all the help you can get - some people think its just opening up your door and serving breakfasts. First advice: Do not "re-sign" any existing contracts (credit card, pest control, insurance etc) - everything is negotiable and you need to know what you are looking at. Example - you need commercial insurance. The formers owners of this Inn "thought" they had it, but they never did. Credit card fees are NEVER GOOD when you take over a business, go to feefighters.com and see what they can get you, do not LEASE cc equip and make sure you are set up as hospitality. Pest control - anywhere near the south? MONTHLY..

Yes on the pest control. We are known for our bugs and termites will eat a structure before you know it. Fortunately, I have office equipment, etc but have never dealt with credit cards. So, I need to learn about that too.
Current owner has no employees. She uses Webervations, is that a good booking site? Other than her insurance, she has no standing contracts.
Can you point me in the right direction to research insurance companies?
~~g
.

Current owner has no employees. She uses Webervations, is that a good booking site? Other than her insurance, she has no standing contract.

Webervations is a booking engine and relatively cheap; Resnexus, Rezovations and SuperInns have true guest management systems but they are anywhere from 3 to 5 times more expensive (depending on the size of your B&B) than Webervations. Rezstream has a booking engine that is much prettier than Webervations and is about the same price. ReservationKey is another product that many innmates are using.
We strictly use our online reservation system for just that - a customer and reservation database. We don't use the tax reports, occupancy reports, or anything else - we manage our own accounting with Quickbooks. We use Webervations now but looked at our other options during the PAII conference. Since we're not crazy about paying for options we don't need, we are looking most seriously at the Rezstream booking engine. No matter what you choose, be prepared that you will not be able to transfer your Webervations data easily, if at all, to a new system. That is the most daunting problem for us with 8 years of reservations from a profitable high-occupancy business. I really hate losing the data on my repeat guests.
Most of them will allow a 30 day or 60 day free trial - you should take advantage of that. Also check out the comparisons from a fellow innkeepers at the About the Inn blog.

 

[agoodman]

ah well you are welcome to come and get some "unpaid training days here!"
No you are wrong, you need to ask for all the help you can get - some people think its just opening up your door and serving breakfasts. First advice: Do not "re-sign" any existing contracts (credit card, pest control, insurance etc) - everything is negotiable and you need to know what you are looking at. Example - you need commercial insurance. The formers owners of this Inn "thought" they had it, but they never did. Credit card fees are NEVER GOOD when you take over a business, go to feefighters.com and see what they can get you, do not LEASE cc equip and make sure you are set up as hospitality. Pest control - anywhere near the south? MONTHLY..

Yes on the pest control. We are known for our bugs and termites will eat a structure before you know it. Fortunately, I have office equipment, etc but have never dealt with credit cards. So, I need to learn about that too.
Current owner has no employees. She uses Webervations, is that a good booking site? Other than her insurance, she has no standing contracts.
Can you point me in the right direction to research insurance companies?
~~g
.

I had Webervations and liked it (1.0) BUT changed to ReservationKey and love it. Depends on YOUR needs.
Insurance _ I was with james Wolf and the rates went up to where I was in business to pay them. Depends on which side of the age scale you are on. Since my future s roast & toast, I am not worried about what if. I am with Erie as a B & B but just have CYA insurance. If you have a future, Wolf is the Porsche (I only need a Yugo).
.

I had Webervations and liked it (1.0) BUT changed to ReservationKey and love it. Depends on YOUR needs.
Insurance _ I was with james Wolf and the rates went up to where I was in business to pay them. Depends on which side of the age scale you are on. Since my future s roast & toast, I am not worried about what if. I am with Erie as a B & B but just have CYA insurance. If you have a future, Wolf is the Porsche (I only need a Yugo).

wow my morrgage requires me to have FULL commercial insurance !!

 

[gillumhouse]

ah well you are welcome to come and get some "unpaid training days here!"
No you are wrong, you need to ask for all the help you can get - some people think its just opening up your door and serving breakfasts. First advice: Do not "re-sign" any existing contracts (credit card, pest control, insurance etc) - everything is negotiable and you need to know what you are looking at. Example - you need commercial insurance. The formers owners of this Inn "thought" they had it, but they never did. Credit card fees are NEVER GOOD when you take over a business, go to feefighters.com and see what they can get you, do not LEASE cc equip and make sure you are set up as hospitality. Pest control - anywhere near the south? MONTHLY..

Yes on the pest control. We are known for our bugs and termites will eat a structure before you know it. Fortunately, I have office equipment, etc but have never dealt with credit cards. So, I need to learn about that too.
Current owner has no employees. She uses Webervations, is that a good booking site? Other than her insurance, she has no standing contracts.
Can you point me in the right direction to research insurance companies?
~~g
.

I had Webervations and liked it (1.0) BUT changed to ReservationKey and love it. Depends on YOUR needs.
Insurance _ I was with james Wolf and the rates went up to where I was in business to pay them. Depends on which side of the age scale you are on. Since my future s roast & toast, I am not worried about what if. I am with Erie as a B & B but just have CYA insurance. If you have a future, Wolf is the Porsche (I only need a Yugo).
.

I had Webervations and liked it (1.0) BUT changed to ReservationKey and love it. Depends on YOUR needs.
Insurance _ I was with james Wolf and the rates went up to where I was in business to pay them. Depends on which side of the age scale you are on. Since my future s roast & toast, I am not worried about what if. I am with Erie as a B & B but just have CYA insurance. If you have a future, Wolf is the Porsche (I only need a Yugo).

wow my morrgage requires me to have FULL commercial insurance !!
.

I have honking loans - no mortgage although the house is the collateral, the loan is nowhere near the value of the house. Bank gets copy of the insurance policy.

 

[bbinnsitters]

Louisiana and NO, I haven't had a single day's experience. Current owner is leaving town, but has offered to help me as much as possible before that. I have a few friends who own B&Bs, but I only ask them major legal questions. (I don't want to ruin the friendship and that's probably the fastest way to do it.)
This is totally new to me, I'm starting at zero. (Maybe I could turn it into a reality TV show.... )
~~g.

Georgia, I met an owner from Rayne, LA-very nice-if you are close to that area I am sure she wouldn't mind talking with you. Let me know if you'd like her information.

 

[Gingerbread Latte]

Louisiana and NO, I haven't had a single day's experience. Current owner is leaving town, but has offered to help me as much as possible before that. I have a few friends who own B&Bs, but I only ask them major legal questions. (I don't want to ruin the friendship and that's probably the fastest way to do it.)
This is totally new to me, I'm starting at zero. (Maybe I could turn it into a reality TV show.... )
~~g.

Georgia, I met an owner from Rayne, LA-very nice-if you are close to that area I am sure she wouldn't mind talking with you. Let me know if you'd like her information.
.

Thanks! I'm about 2 and a half hours from there. I'm in Central Louisiana, but would love to talk to anyone who is willing. Actually, I just listen right now. I don't even know enough to ask the right questions!

 

[Sunshine]

Welcome! Keep the positive attitude and you'll do well! Even when you get the bad guests... a positive attitude helps pull you out of it faster!

 

[birdwatcher]

I don't know how many of us here have had "formal" experience being Innkeepers-hubbie and I had none, but knew that we liked people and that we were ready to jump right into it. Its a learning and growing process and no its not for sissies or people that think its instant gratification unless of course you have so much $$ that it bills dont matter!
When things get harried and you get to the point you wanna bash your head against the wall-just come in here and LET IT ALL OUT ! thats what is so great about this site-you can let your hair down and get great advise sometimes its brutally honest because so many of us have either been were you are or are going that way.

 

[Gingerbread Latte]

I don't know how many of us here have had "formal" experience being Innkeepers-hubbie and I had none, but knew that we liked people and that we were ready to jump right into it. Its a learning and growing process and no its not for sissies or people that think its instant gratification unless of course you have so much $$ that it bills dont matter!
When things get harried and you get to the point you wanna bash your head against the wall-just come in here and LET IT ALL OUT ! thats what is so great about this site-you can let your hair down and get great advise sometimes its brutally honest because so many of us have either been were you are or are going that way..

Thank you! I'm ready to jump in. I'm comfortable with people, I just need to get up to speed on the actual operations. I have rental property, so I know how contracts work, marketing, EVICTIONS.... I have a good team of handymen, bankers and yes, attorneys.
What made you decide to become innkeepers?

 

[birdwatcher]

We kind of just took the chance-quit our corporate jobs and lunged right in...made mistakes and one that the economy, large resorts and more and we closed the B & B. Now we are employed Innkeepers at another B & B actually not too far from you-about 6 hours away. My son lives in LA Ft Polk-we are gonna visit him soon we hope.
Its a great career or lets just say a Lifestyle and a commitment and love of the job, no its not all the time that would be a foolish thing to say.

 

[Alibi Ike]

I don't know how many of us here have had "formal" experience being Innkeepers-hubbie and I had none, but knew that we liked people and that we were ready to jump right into it. Its a learning and growing process and no its not for sissies or people that think its instant gratification unless of course you have so much $$ that it bills dont matter!
When things get harried and you get to the point you wanna bash your head against the wall-just come in here and LET IT ALL OUT ! thats what is so great about this site-you can let your hair down and get great advise sometimes its brutally honest because so many of us have either been were you are or are going that way..

Thank you! I'm ready to jump in. I'm comfortable with people, I just need to get up to speed on the actual operations. I have rental property, so I know how contracts work, marketing, EVICTIONS.... I have a good team of handymen, bankers and yes, attorneys.
What made you decide to become innkeepers?
.

Thank you! I'm ready to jump in. I'm comfortable with people, I just need to get up to speed on the actual operations. I have rental property, so I know how contracts work, marketing, EVICTIONS.... I have a good team of handymen, bankers and yes, attorneys.
What made you decide to become innkeepers?

Will you be having a lot of long-term stays that evictions would come into play?

 

[Gingerbread Latte]

I don't know how many of us here have had "formal" experience being Innkeepers-hubbie and I had none, but knew that we liked people and that we were ready to jump right into it. Its a learning and growing process and no its not for sissies or people that think its instant gratification unless of course you have so much $$ that it bills dont matter!
When things get harried and you get to the point you wanna bash your head against the wall-just come in here and LET IT ALL OUT ! thats what is so great about this site-you can let your hair down and get great advise sometimes its brutally honest because so many of us have either been were you are or are going that way..

Thank you! I'm ready to jump in. I'm comfortable with people, I just need to get up to speed on the actual operations. I have rental property, so I know how contracts work, marketing, EVICTIONS.... I have a good team of handymen, bankers and yes, attorneys.
What made you decide to become innkeepers?
.

Thank you! I'm ready to jump in. I'm comfortable with people, I just need to get up to speed on the actual operations. I have rental property, so I know how contracts work, marketing, EVICTIONS.... I have a good team of handymen, bankers and yes, attorneys.
What made you decide to become innkeepers?

Will you be having a lot of long-term stays that evictions would come into play?
.

Oh, I hope not! I just meant that in my rental business I've had to evict tenants before, so I'm not opposed to confrontation. Fortunately, I've only had 2 evicts in 8 years.
But, I get to interview and screen my tenants and I'm the boss. B&B guests are random and think THEY are the boss. It will require an adjustment in mind set.

 

[agoodman]

ah well confrontation is something we very rarely deal with and you really have to start off with the idea of the customer is always right and i know some people with jump on me here but note the words "start of with"
You are opening your home to guests who will become friends, very very different from rental properties (you never slept in the same house as your tenanats and neither did one tenant from one rental sleep in the same house as another .. well not that you know of...)
I had mentioned it earlier and please don't take it the wrong pay, Innkeeping is not just opening up your home because you are a people person, it is a real business and really understanding THAT business
If you have some time try to stay at some B&B's before you open, just as a "guest", you don't need to say anything. Note the things you liked and those you did not and have some general conversations with the Innkeepers, it will be a good investment of your time and $$

 

[Alibi Ike]

I don't know how many of us here have had "formal" experience being Innkeepers-hubbie and I had none, but knew that we liked people and that we were ready to jump right into it. Its a learning and growing process and no its not for sissies or people that think its instant gratification unless of course you have so much $$ that it bills dont matter!
When things get harried and you get to the point you wanna bash your head against the wall-just come in here and LET IT ALL OUT ! thats what is so great about this site-you can let your hair down and get great advise sometimes its brutally honest because so many of us have either been were you are or are going that way..

Thank you! I'm ready to jump in. I'm comfortable with people, I just need to get up to speed on the actual operations. I have rental property, so I know how contracts work, marketing, EVICTIONS.... I have a good team of handymen, bankers and yes, attorneys.
What made you decide to become innkeepers?
.

Thank you! I'm ready to jump in. I'm comfortable with people, I just need to get up to speed on the actual operations. I have rental property, so I know how contracts work, marketing, EVICTIONS.... I have a good team of handymen, bankers and yes, attorneys.
What made you decide to become innkeepers?

Will you be having a lot of long-term stays that evictions would come into play?
.

Oh, I hope not! I just meant that in my rental business I've had to evict tenants before, so I'm not opposed to confrontation. Fortunately, I've only had 2 evicts in 8 years.
But, I get to interview and screen my tenants and I'm the boss. B&B guests are random and think THEY are the boss. It will require an adjustment in mind set.
.

It will require an adjustment in mind set.

By whom?

 

[agoodman]

I don't know how many of us here have had "formal" experience being Innkeepers-hubbie and I had none, but knew that we liked people and that we were ready to jump right into it. Its a learning and growing process and no its not for sissies or people that think its instant gratification unless of course you have so much $$ that it bills dont matter!
When things get harried and you get to the point you wanna bash your head against the wall-just come in here and LET IT ALL OUT ! thats what is so great about this site-you can let your hair down and get great advise sometimes its brutally honest because so many of us have either been were you are or are going that way..

Thank you! I'm ready to jump in. I'm comfortable with people, I just need to get up to speed on the actual operations. I have rental property, so I know how contracts work, marketing, EVICTIONS.... I have a good team of handymen, bankers and yes, attorneys.
What made you decide to become innkeepers?
.

Thank you! I'm ready to jump in. I'm comfortable with people, I just need to get up to speed on the actual operations. I have rental property, so I know how contracts work, marketing, EVICTIONS.... I have a good team of handymen, bankers and yes, attorneys.
What made you decide to become innkeepers?

Will you be having a lot of long-term stays that evictions would come into play?
.

Oh, I hope not! I just meant that in my rental business I've had to evict tenants before, so I'm not opposed to confrontation. Fortunately, I've only had 2 evicts in 8 years.
But, I get to interview and screen my tenants and I'm the boss. B&B guests are random and think THEY are the boss. It will require an adjustment in mind set.
.

Oh, I hope not! I just meant that in my rental business I've had to evict tenants before, so I'm not opposed to confrontation. Fortunately, I've only had 2 evicts in 8 years.
But, I get to interview and screen my tenants and I'm the boss. B&B guests are random and think THEY are the boss. It will require an adjustment in mind set.

Gingerbread I don't want to say they are the BOSS but we are certainly there for THEM not the other way around. ... and yes you should ABSOLUTELY be opposed to confrontation, that is NOT the way to deal with "guest issues" because as so many people will tell you, one bad review can be a killer.

 

[Karen1NH]

You will get a lot of great information from the folks on here! Innkeeping is hard work but it can be rewarding. You will meet guests who warm your heart and who stay in touch forever!
I had a small b&b (Cutter's Loft) until a few years ago (maybe some of you remember me from the About forum?). I really enjoyed it and miss many aspects of it. B&B guests will run the gamut, but in my experience, most were great! I still keep in contact with some of our guests.
Good luck to you!

 

[Samster]

You will get a lot of great information from the folks on here! Innkeeping is hard work but it can be rewarding. You will meet guests who warm your heart and who stay in touch forever!
I had a small b&b (Cutter's Loft) until a few years ago (maybe some of you remember me from the About forum?). I really enjoyed it and miss many aspects of it. B&B guests will run the gamut, but in my experience, most were great! I still keep in contact with some of our guests.
Good luck to you!.

back, Karen! How's retirement? (formerly AspireTX)