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gillumhouse

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DH took me to dinner tonight and we priced the tile for the bathroom at Lowe's first. That put him racing down Negativity Street which of course put me in a snit. By the time dinner was finished, things were back to normal. It was then I dropped the bomb!
We have been discussing exit strategies and it got me thinking of mine. Feet first is a very selfish exit. (La-La is even worse.) I also want my place to remain a B & B. I have spent too much of myself building it to see it become just a house and my town NEEDS a quality lodging facility. During the travel with my City Manager I said that if DH dies first I would putthe place on the market as a B & B to be sure it stays a B & B (or leave it to the City to be a B & B).
Tonight I verbalized to DH that one reason I want to get our bathroom done is for the value of the house and decent owners quarters. I told him that once that is done, I want to start getting things in order to put it on the market AS a B & B - which I expect to take a while to sell. I told him my thought is to them get a small one-story house here in town - because I am not leaving here. It will be easier on him to have a one level and no financial worries - selling as a business will pay off all honking loans and buy a small house here - we do not owe as much as he gripes about.
Then he was worried about moving everything and finding a place big enough for all the "stuff". I had to tell him flat out that we will only take our personall belongings and his Mother's dolls. "Oh, you mean the furniture upstairs stays here?" Yesssss!
Needless to say, he was stunned. He NEVER thought I would be able to give up the B & B and be happy. IF the new owners found it acceptable, I could be an on call innsitter - if they called that is. I will still have the other activities I am involved with - at least until I go La-La. Not quite the time yet, but wanted to say thank you for making me think about it rationally. I do not want to be leaving because I am burned out - I truly am not. I really do want all that I have worked so hard for, in the town I want to see thrive, continue to help the town grow. Thank you, Innmates.
 

greyswan

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Was telling DH was easier than you tho't it would be? When we're ready to move on, we won't look back in regret - and we would want to see it as a B&B, too. We have a ways to go yet... we still on the 10 year plan.
 

JunieBJones (JBJ)

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There is a legacy factor. People not running a B&B do not realize how many lives we touch, they think we just serve breakfast and make beds. We want our dreams to live on and prosper.
 

EmptyNest

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Was telling DH was easier than you tho't it would be? When we're ready to move on, we won't look back in regret - and we would want to see it as a B&B, too. We have a ways to go yet... we still on the 10 year plan..
we were on a 10 year plan..but I personally could barely make it to 7...so we closed. We are still living in our house and will continue to until this economy turns around. We keep our eyes out for our retirement property all the time..but we know we can't sell this place and get what we want now...but when the time is right we will. I really don't care if it is a B & B or not. I will just want it sold.:)
 

YellowSocks

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Who knows? Maybe now he'll even be on board for the renovations and make your personal space better!
Ever the optimist...
=)
Kk.
 

gillumhouse

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I started to answer specific to comment but decided a general answer would be better.
He was, as I said, stunned. this morning he is thinking about what we will need in the next house - large area for his drawing, a 4 ft space for matting but a workshop is no longer necessary.... He knows I am not ready YET, but I have him understanding that I am thinking about it. And yes, he now understands why I am pushing for the bathroom. Surprisingly though, he had already almost stopped hassling - perhaps resigned to the fact I was getting it done. We looked at tile last night and I am going tub to ceiling on the tile to make it more watertight. Cream-colored tile to brighten the small space and I have yet to decide on paint color - DH is thinking peach. Hey, on that I do not care!
He also understands that it is because I worked so hard to establish the B & B that I NEED to ensure that it stays as one - at least through the next owner. Our City Manager sees the importance of the B & B to the City enough that after I had told HER my thoughts (which were after DH died) I rambled on a bit and said - heck, I could always leave it to the City and she responded that that was the first thought that ran through her head.
If I did not care what happened to it after me, then I would have to ask why did I spend so much time, energy, passion, and money to make it a B & B? The last 13 years of my life would have had no meaning. It also is the HOME issue for me. Most people will get that far away look in their eye as they think of HOME. For me, I have been given the gift of finding HOME and have been granted the privilege of being able to be part of making it a place others will think of as HOME. The guests who just left have lived elsewhere and do now obviously since they stayed here, but as long as this B & B is here, they CAN come HOME even if it is briefly. I never knew what it was to be content to be someplace until here.
I always had the wanderlust of my family. Mom said we had "sand in our shoes". Now, except for wanting to see my "big brother"/cousin who is in Germany and my son who is planning to move to Finland where they own 4 houses and an island, I have no real desire to leave town. I never would have believed it, but it is true. Dang! we get philosophical when we get old.
Anyway, I figure at least 2 more years before I put it on the market. I want it to be a bit stronger on the numbers before I let it go. My new web site and SEO that is being done need time to build me better - in position to sell for what I will need to sell for and as I get the debt paid down, will have more to use in the next place. Do you think the new owners will want a "built-in" available innstitter who knows how to butt out when not needed?
 

JunieBJones (JBJ)

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The main thing is to always have an exit strategy in place should the time come sooner or later. Even if it is just a list on your pc that you can tick off this and that - a little here and there as you go. My 2 cents.
I get mad thought when we finally make every just so when we are thinking of selling, what a shame we didn't do that before. But it is like anticipating company and vacuuming - it is that extra incentive to move beyond our comfort zone to git r done.
 

Samster

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We will not sell as a business. With 2 houses, we will list the smaller one first and then decide what to do next. At this point, I'm looking probably at a maximum of another three years as a biz, depending on the economy. My dh will be 68 at that point and we want to travel and enjoy life while (knock wood) we still can. If my dh was on board more with the work side, and not just the chatting up the guests side of this business, I might be inclined to stay in it longer. Then, there is the matter of where the kids are at that point & if we might relocate.
The other B&Bs here have tried to sell and been unsuccessful. I'm not sure exactly why - price, lack of financial documentation for the biz, prospective buyers don't see this as a place to have this kind of biz as opposed to other locations in our State, or some other reason. I think we would do better in the long run just selling the real estate.
 

swirt

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Wow if more of us keep putting our places up for sale we are going to have to change the tagline for this forum to "where retired innkeepers belong." ;)
 

Morticia

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We will not sell as a business. With 2 houses, we will list the smaller one first and then decide what to do next. At this point, I'm looking probably at a maximum of another three years as a biz, depending on the economy. My dh will be 68 at that point and we want to travel and enjoy life while (knock wood) we still can. If my dh was on board more with the work side, and not just the chatting up the guests side of this business, I might be inclined to stay in it longer. Then, there is the matter of where the kids are at that point & if we might relocate.
The other B&Bs here have tried to sell and been unsuccessful. I'm not sure exactly why - price, lack of financial documentation for the biz, prospective buyers don't see this as a place to have this kind of biz as opposed to other locations in our State, or some other reason. I think we would do better in the long run just selling the real estate..
In one case it may just be the extent of the biz that has made the sale of it unsuccessful. It sounds like you are miles ahead of them now and will have a thriving biz to sell when you decide to do so!
 

Morticia

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Wow if more of us keep putting our places up for sale we are going to have to change the tagline for this forum to "where retired innkeepers belong." ;).
swirt said:
Wow if more of us keep putting our places up for sale we are going to have to change the tagline for this forum to "where retired innkeepers belong." ;)
Holy cow, don't make me the 'grande old dame' for Pete's sake!
 

happykeeper

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Wow if more of us keep putting our places up for sale we are going to have to change the tagline for this forum to "where retired innkeepers belong." ;).
Yikes!
.
knkbnb said:
Okay okay maybe "where innkeepers belong, and their retired friends" ;)
.
So now I have to ask- are you guys done with innkeeping? Looking for a new innkeeping opportunity? On hold until....?
I know we have an exit plan, but I am having a hard time of thinking of something else that I like to do as much that provides this kind of lifestyle and makes this much money.
 

gillumhouse

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Wow if more of us keep putting our places up for sale we are going to have to change the tagline for this forum to "where retired innkeepers belong." ;).
I am at least 2 years from even going on the market. I LOVE this business! I have no desire to do anything else. But I started from scratch, doing something that everyone thought would fail and proving that it would work. I put too much of ME into this to let it just be a house. I know my town needs a nice place to stay to keep people coming here. the economy of the town needs it - as small as I am it has brought money into town. And I did it on my own - without the help of the "town". Some towns are very helpful as in funeral homes recommending the local B & B - not here. Did not kiss the right rump!
I love what I do. But decided feet first really is not a good way to close out my innkeeping career. I cannot be so selfish as to do that. We shall see what happens in the next 2 years, perhaps circumstance will change my plan. But for now, the 16 year anniversary will start the search for a replacement - and who knows how ling that will take. I may end up feet first after all!
 

Samster

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Wow if more of us keep putting our places up for sale we are going to have to change the tagline for this forum to "where retired innkeepers belong." ;).
I am at least 2 years from even going on the market. I LOVE this business! I have no desire to do anything else. But I started from scratch, doing something that everyone thought would fail and proving that it would work. I put too much of ME into this to let it just be a house. I know my town needs a nice place to stay to keep people coming here. the economy of the town needs it - as small as I am it has brought money into town. And I did it on my own - without the help of the "town". Some towns are very helpful as in funeral homes recommending the local B & B - not here. Did not kiss the right rump!
I love what I do. But decided feet first really is not a good way to close out my innkeeping career. I cannot be so selfish as to do that. We shall see what happens in the next 2 years, perhaps circumstance will change my plan. But for now, the 16 year anniversary will start the search for a replacement - and who knows how ling that will take. I may end up feet first after all!
.
I think how busy you are, how many rooms you have, how much property and facility upkeep you have is directly proportional to how long you want to stay in this business. Larger properties (unless you have staff) require a huge amount of time and dedication just to keep everything going as it should be if you want everything in pristine condition. This alone can be wearing on the proprietors. Add a healthy business with high occupancy and guests coming and going...this can really take it out of you. Not to scare any aspirings but this is the truth of the matter. A large, thriving business can leave little time for anything else which certainly contributes to innkeeper burnout.
 

Morticia

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Wow if more of us keep putting our places up for sale we are going to have to change the tagline for this forum to "where retired innkeepers belong." ;).
I am at least 2 years from even going on the market. I LOVE this business! I have no desire to do anything else. But I started from scratch, doing something that everyone thought would fail and proving that it would work. I put too much of ME into this to let it just be a house. I know my town needs a nice place to stay to keep people coming here. the economy of the town needs it - as small as I am it has brought money into town. And I did it on my own - without the help of the "town". Some towns are very helpful as in funeral homes recommending the local B & B - not here. Did not kiss the right rump!
I love what I do. But decided feet first really is not a good way to close out my innkeeping career. I cannot be so selfish as to do that. We shall see what happens in the next 2 years, perhaps circumstance will change my plan. But for now, the 16 year anniversary will start the search for a replacement - and who knows how ling that will take. I may end up feet first after all!
.
I think how busy you are, how many rooms you have, how much property and facility upkeep you have is directly proportional to how long you want to stay in this business. Larger properties (unless you have staff) require a huge amount of time and dedication just to keep everything going as it should be if you want everything in pristine condition. This alone can be wearing on the proprietors. Add a healthy business with high occupancy and guests coming and going...this can really take it out of you. Not to scare any aspirings but this is the truth of the matter. A large, thriving business can leave little time for anything else which certainly contributes to innkeeper burnout.
.
Samster said:
I think how busy you are, how many rooms you have, how much property and facility upkeep you have is directly proportional to how long you want to stay in this business. Larger properties (unless you have staff) require a huge amount of time and dedication just to keep everything going as it should be if you want everything in pristine condition. This alone can be wearing on the proprietors. Add a healthy business with high occupancy and guests coming and going...this can really take it out of you. Not to scare any aspirings but this is the truth of the matter. A large, thriving business can leave little time for anything else which certainly contributes to innkeeper burnout.
Now I have the opposite feeling...a large, thriving business that allows hiring staff is probably what keeps more innkeepers going for longer. Either a smaller property easily handled alone or one large enough to be able to walk away in the middle of the day and have lunch, go shopping for yourself, hang out, putter, etc, would be a 'lifestye' B&B.
In that case you are 'hosting' the inn, not working yourself into the ground. ALmost every single place we have ever stayed has been that kind of B&B...innkeepers as hosts, not workers. (Not workers in that they have staff to do the grunt work and they do the fun stuff, the creative stuff.)
 

happykeeper

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Wow if more of us keep putting our places up for sale we are going to have to change the tagline for this forum to "where retired innkeepers belong." ;).
I am at least 2 years from even going on the market. I LOVE this business! I have no desire to do anything else. But I started from scratch, doing something that everyone thought would fail and proving that it would work. I put too much of ME into this to let it just be a house. I know my town needs a nice place to stay to keep people coming here. the economy of the town needs it - as small as I am it has brought money into town. And I did it on my own - without the help of the "town". Some towns are very helpful as in funeral homes recommending the local B & B - not here. Did not kiss the right rump!
I love what I do. But decided feet first really is not a good way to close out my innkeeping career. I cannot be so selfish as to do that. We shall see what happens in the next 2 years, perhaps circumstance will change my plan. But for now, the 16 year anniversary will start the search for a replacement - and who knows how ling that will take. I may end up feet first after all!
.
I think how busy you are, how many rooms you have, how much property and facility upkeep you have is directly proportional to how long you want to stay in this business. Larger properties (unless you have staff) require a huge amount of time and dedication just to keep everything going as it should be if you want everything in pristine condition. This alone can be wearing on the proprietors. Add a healthy business with high occupancy and guests coming and going...this can really take it out of you. Not to scare any aspirings but this is the truth of the matter. A large, thriving business can leave little time for anything else which certainly contributes to innkeeper burnout.
.
Samster said:
I think how busy you are, how many rooms you have, how much property and facility upkeep you have is directly proportional to how long you want to stay in this business. Larger properties (unless you have staff) require a huge amount of time and dedication just to keep everything going as it should be if you want everything in pristine condition. This alone can be wearing on the proprietors. Add a healthy business with high occupancy and guests coming and going...this can really take it out of you. Not to scare any aspirings but this is the truth of the matter. A large, thriving business can leave little time for anything else which certainly contributes to innkeeper burnout.
Now I have the opposite feeling...a large, thriving business that allows hiring staff is probably what keeps more innkeepers going for longer. Either a smaller property easily handled alone or one large enough to be able to walk away in the middle of the day and have lunch, go shopping for yourself, hang out, putter, etc, would be a 'lifestye' B&B.
In that case you are 'hosting' the inn, not working yourself into the ground. ALmost every single place we have ever stayed has been that kind of B&B...innkeepers as hosts, not workers. (Not workers in that they have staff to do the grunt work and they do the fun stuff, the creative stuff.)
.
YES YES YES More of the fun stuff please!
 

Morticia

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Wow if more of us keep putting our places up for sale we are going to have to change the tagline for this forum to "where retired innkeepers belong." ;).
I am at least 2 years from even going on the market. I LOVE this business! I have no desire to do anything else. But I started from scratch, doing something that everyone thought would fail and proving that it would work. I put too much of ME into this to let it just be a house. I know my town needs a nice place to stay to keep people coming here. the economy of the town needs it - as small as I am it has brought money into town. And I did it on my own - without the help of the "town". Some towns are very helpful as in funeral homes recommending the local B & B - not here. Did not kiss the right rump!
I love what I do. But decided feet first really is not a good way to close out my innkeeping career. I cannot be so selfish as to do that. We shall see what happens in the next 2 years, perhaps circumstance will change my plan. But for now, the 16 year anniversary will start the search for a replacement - and who knows how ling that will take. I may end up feet first after all!
.
I think how busy you are, how many rooms you have, how much property and facility upkeep you have is directly proportional to how long you want to stay in this business. Larger properties (unless you have staff) require a huge amount of time and dedication just to keep everything going as it should be if you want everything in pristine condition. This alone can be wearing on the proprietors. Add a healthy business with high occupancy and guests coming and going...this can really take it out of you. Not to scare any aspirings but this is the truth of the matter. A large, thriving business can leave little time for anything else which certainly contributes to innkeeper burnout.
.
Samster said:
I think how busy you are, how many rooms you have, how much property and facility upkeep you have is directly proportional to how long you want to stay in this business. Larger properties (unless you have staff) require a huge amount of time and dedication just to keep everything going as it should be if you want everything in pristine condition. This alone can be wearing on the proprietors. Add a healthy business with high occupancy and guests coming and going...this can really take it out of you. Not to scare any aspirings but this is the truth of the matter. A large, thriving business can leave little time for anything else which certainly contributes to innkeeper burnout.
Now I have the opposite feeling...a large, thriving business that allows hiring staff is probably what keeps more innkeepers going for longer. Either a smaller property easily handled alone or one large enough to be able to walk away in the middle of the day and have lunch, go shopping for yourself, hang out, putter, etc, would be a 'lifestye' B&B.
In that case you are 'hosting' the inn, not working yourself into the ground. ALmost every single place we have ever stayed has been that kind of B&B...innkeepers as hosts, not workers. (Not workers in that they have staff to do the grunt work and they do the fun stuff, the creative stuff.)
.
YES YES YES More of the fun stuff please!
.
knkbnb said:
YES YES YES More of the fun stuff please!
As my son likes to put it...'Are you running the business or is the business running you?'
Speaking of which, back to scraping paint while the sun shines...
 

Samster

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Wow if more of us keep putting our places up for sale we are going to have to change the tagline for this forum to "where retired innkeepers belong." ;).
I am at least 2 years from even going on the market. I LOVE this business! I have no desire to do anything else. But I started from scratch, doing something that everyone thought would fail and proving that it would work. I put too much of ME into this to let it just be a house. I know my town needs a nice place to stay to keep people coming here. the economy of the town needs it - as small as I am it has brought money into town. And I did it on my own - without the help of the "town". Some towns are very helpful as in funeral homes recommending the local B & B - not here. Did not kiss the right rump!
I love what I do. But decided feet first really is not a good way to close out my innkeeping career. I cannot be so selfish as to do that. We shall see what happens in the next 2 years, perhaps circumstance will change my plan. But for now, the 16 year anniversary will start the search for a replacement - and who knows how ling that will take. I may end up feet first after all!
.
I think how busy you are, how many rooms you have, how much property and facility upkeep you have is directly proportional to how long you want to stay in this business. Larger properties (unless you have staff) require a huge amount of time and dedication just to keep everything going as it should be if you want everything in pristine condition. This alone can be wearing on the proprietors. Add a healthy business with high occupancy and guests coming and going...this can really take it out of you. Not to scare any aspirings but this is the truth of the matter. A large, thriving business can leave little time for anything else which certainly contributes to innkeeper burnout.
.
Samster said:
I think how busy you are, how many rooms you have, how much property and facility upkeep you have is directly proportional to how long you want to stay in this business. Larger properties (unless you have staff) require a huge amount of time and dedication just to keep everything going as it should be if you want everything in pristine condition. This alone can be wearing on the proprietors. Add a healthy business with high occupancy and guests coming and going...this can really take it out of you. Not to scare any aspirings but this is the truth of the matter. A large, thriving business can leave little time for anything else which certainly contributes to innkeeper burnout.
Now I have the opposite feeling...a large, thriving business that allows hiring staff is probably what keeps more innkeepers going for longer. Either a smaller property easily handled alone or one large enough to be able to walk away in the middle of the day and have lunch, go shopping for yourself, hang out, putter, etc, would be a 'lifestye' B&B.
In that case you are 'hosting' the inn, not working yourself into the ground. ALmost every single place we have ever stayed has been that kind of B&B...innkeepers as hosts, not workers. (Not workers in that they have staff to do the grunt work and they do the fun stuff, the creative stuff.)
.
I guess you didn't focus on the part where I said "unless you have staff"! Absolutely, that is the critical difference - trained, competent staff where you can have someone there 24/7 and walk away to do whatever you want. We are saying the same thing :)
I have had the opposite experience - most places where we have stayed over the years, the innkeepers work and work HARD to keep the busy strong and thriving!! Most do almost all of the work themselves too and they were 6-8 rooms.
 

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