Your worst day...

[tonysbedandbreakfast]

Greetings all,

I'm in the (very) beginning stages of working towards eventually opening my own bed & breakfast.

As I continue my research, I wanted to ask experienced innkeepers the following question:

What has your worst day as a bed & breakfast owner looked like?

Please be honest with me! It takes a lot to scare me. I'm just curious what the "other" side of the coin looks like. I've read plenty of articles and stories about the benefits and pros!

Thanks,

Tony

 

[Breakfast Diva]

Hi Tony,
If you read through the old threads you will see many stories. Unfortunately, a thread like the title of this one will get media attention in a negative way. We all have stories, but focusing only on the negative is not what is the best for this industry.
Just my 2 cents.

 

[tonysbedandbreakfast]

Thanks. I've been reading through. I don't mean to bring any negative attention to anyone at all.

 

[user 26]

I agree with Breakfast Diva.

 

[tonysbedandbreakfast]

I agree with Breakfast Diva..

I understand. Again, I didn't mean to offend anyone.

 

[Hillbilly]

I also agree with Breakfast Diva. Lets just say "If you can dream it...it has happened!" But then again, you have ups and downs with any job. Just know that running your own Inn is a 7 day a week 24 hour a day job. You never get a day off...EVER! Even when you take time off your still connected. I hear the best part of owning a Inn is the day you buy it and the day you sell it. That said, we are going on 19 years and still enjoy it but its not for everyone. You get the good with the bad!

 

[tonysbedandbreakfast]

I also agree with Breakfast Diva. Lets just say "If you can dream it...it has happened!" But then again, you have ups and downs with any job. Just know that running your own Inn is a 7 day a week 24 hour a day job. You never get a day off...EVER! Even when you take time off your still connected. I hear the best part of owning a Inn is the day you buy it and the day you sell it. That said, we are going on 19 years and still enjoy it but its not for everyone. You get the good with the bad!.

I'm happy to hear you're still enjoying it after 19 years. I'd like this to be what takes me to retirement, which is probably 25-30 years away!

 

[Hillbilly]

I also agree with Breakfast Diva. Lets just say "If you can dream it...it has happened!" But then again, you have ups and downs with any job. Just know that running your own Inn is a 7 day a week 24 hour a day job. You never get a day off...EVER! Even when you take time off your still connected. I hear the best part of owning a Inn is the day you buy it and the day you sell it. That said, we are going on 19 years and still enjoy it but its not for everyone. You get the good with the bad!.

I'm happy to hear you're still enjoying it after 19 years. I'd like this to be what takes me to retirement, which is probably 25-30 years away!
.

Do you already have a place in mind?

 

[tonysbedandbreakfast]

I also agree with Breakfast Diva. Lets just say "If you can dream it...it has happened!" But then again, you have ups and downs with any job. Just know that running your own Inn is a 7 day a week 24 hour a day job. You never get a day off...EVER! Even when you take time off your still connected. I hear the best part of owning a Inn is the day you buy it and the day you sell it. That said, we are going on 19 years and still enjoy it but its not for everyone. You get the good with the bad!.

I'm happy to hear you're still enjoying it after 19 years. I'd like this to be what takes me to retirement, which is probably 25-30 years away!
.

Do you already have a place in mind?
.

I have an area in mind. I'm putting myself on a 3-5 year timeline to get to the point of owning my b&b. Mainly, this is for financial reasons. An entirely different discussion!

Honestly, it isn't the work that scares me. I'm a workaholic at heart and hate sitting still. It's getting the financial approvals necessary to get into a property which is what scares me.

 

[user 26]

I don't think anyone's offended. Not to worry!

 

[Jcam]

with 40 years + experience between DH and I we have seen and lived it all - however don't wish to be cynical but have had people start similar threads in order to mine us for press articles - makes us a little cynical or providing fodder for the papers - I am sure you are genuine but appreciate you don't get all the good stuff right out the gate

 

[tonysbedandbreakfast]

I don't think anyone's offended. Not to worry!.

Thanks

 

[Hillbilly]

I also agree with Breakfast Diva. Lets just say "If you can dream it...it has happened!" But then again, you have ups and downs with any job. Just know that running your own Inn is a 7 day a week 24 hour a day job. You never get a day off...EVER! Even when you take time off your still connected. I hear the best part of owning a Inn is the day you buy it and the day you sell it. That said, we are going on 19 years and still enjoy it but its not for everyone. You get the good with the bad!.

I'm happy to hear you're still enjoying it after 19 years. I'd like this to be what takes me to retirement, which is probably 25-30 years away!
.

Do you already have a place in mind?
.

I have an area in mind. I'm putting myself on a 3-5 year timeline to get to the point of owning my b&b. Mainly, this is for financial reasons. An entirely different discussion!

Honestly, it isn't the work that scares me. I'm a workaholic at heart and hate sitting still. It's getting the financial approvals necessary to get into a property which is what scares me.
.

That was going to be my next comment. Stress is a big factor in this job and money is always at the top of the list. Income has a lot to do with what you choose. Location is the best advice to be able to have income. So make sure your in a great location. Also the amount of rooms you have is where you make your money. I would have no less than 4 with just you running it. You wont be able to hire much help with less than that. Unless your property is paid for. At 5-7 rooms you can afford to hire a little help. It might be easier to get approval from a bank with buying a Inn that is already running. It will also most likely be an instant cash flow.

 

[Jcam]

I also agree with Breakfast Diva. Lets just say "If you can dream it...it has happened!" But then again, you have ups and downs with any job. Just know that running your own Inn is a 7 day a week 24 hour a day job. You never get a day off...EVER! Even when you take time off your still connected. I hear the best part of owning a Inn is the day you buy it and the day you sell it. That said, we are going on 19 years and still enjoy it but its not for everyone. You get the good with the bad!.

I'm happy to hear you're still enjoying it after 19 years. I'd like this to be what takes me to retirement, which is probably 25-30 years away!
.

Also really work hard on your business plan and get any experience you can - watch episodes of \Dragons den and be prepared for those key questions!
ie mortgage - how much and how much payments every month
HOw many rooms? average room rate in the area and average occupancy levels.
If buying existing would it cover what you will have to pay? and if not why not? and with good enough reasons to convince the bank.

 

[tonysbedandbreakfast]

with 40 years + experience between DH and I we have seen and lived it all - however don't wish to be cynical but have had people start similar threads in order to mine us for press articles - makes us a little cynical or providing fodder for the papers - I am sure you are genuine but appreciate you don't get all the good stuff right out the gate.

Totally understand. Truthfully, I had no idea the media would snoop around like that here. But I joined this forum to learn from everyone's experience and I'm 100% okay deferring to everyone on this thread who has said that can (has?) happen(ed).

True story: I am not a member of the press.
I'll keep reading the old threads...

 

[tonysbedandbreakfast]

I also agree with Breakfast Diva. Lets just say "If you can dream it...it has happened!" But then again, you have ups and downs with any job. Just know that running your own Inn is a 7 day a week 24 hour a day job. You never get a day off...EVER! Even when you take time off your still connected. I hear the best part of owning a Inn is the day you buy it and the day you sell it. That said, we are going on 19 years and still enjoy it but its not for everyone. You get the good with the bad!.

I'm happy to hear you're still enjoying it after 19 years. I'd like this to be what takes me to retirement, which is probably 25-30 years away!
.

Do you already have a place in mind?
.

I have an area in mind. I'm putting myself on a 3-5 year timeline to get to the point of owning my b&b. Mainly, this is for financial reasons. An entirely different discussion!

Honestly, it isn't the work that scares me. I'm a workaholic at heart and hate sitting still. It's getting the financial approvals necessary to get into a property which is what scares me.
.

That was going to be my next comment. Stress is a big factor in this job and money is always at the top of the list. Income has a lot to do with what you choose. Location is the best advice to be able to have income. So make sure your in a great location. Also the amount of rooms you have is where you make your money. I would have no less than 4 with just you running it. You wont be able to hire much help with less than that. Unless your property is paid for. At 5-7 rooms you can afford to hire a little help. It might be easier to get approval from a bank with buying a Inn that is already running. It will also most likely be an instant cash flow.
.

Thanks! I took a mini online course to help narrow down what I'd like my B&B to look like, help me determine where, and analyze the area to get an idea of how big existing B&Bs are and what they charge, what their season is, etc. I have a good idea of what I *think* I can handle and would need to have to earn the money I want.

The hard part will be getting myself to the point of affording it and having a convincing enough business plan for a bank!

Where there's a will, there's a way. And anyone who'd love to discuss/shed light on how they bought/financed/started their first b&B...I'd love to talk to you. I've read a few stories on here but one day I'd love to go through the specifics with someone who has recently lived this same experience. #goals

 

[happykeeper]

Haven't read the other replies yet... this is so not going to get an answer. First, they are rare occasions and second, they will do you no good. Lastly, there have been trolls in the past that are only looking to damage our brand. Now I'll see what everyone else has to say.

 

[gillumhouse]

Worst day - Full house coming in, Himself is scheduled for a stress test, doing dinner for the guests, and a City Council meeting that evening (as City Clerk I am THERE). That happened this month. And I am in my 21st year (we come of age at my start-up in July) and still truckin' with my 3 rooms - still enjoying it.

 

[tonysbedandbreakfast]

Haven't read the other replies yet... this is so not going to get an answer. First, they are rare occasions and second, they will do you no good. Lastly, there have been trolls in the past that are only looking to damage our brand. Now I'll see what everyone else has to say..

Yes, I've heard about the "trolls." Honestly, I had no idea! I'm simply just trying to learn as much as I can All in due time.

 

[JBloggs]

I also agree with Breakfast Diva. Lets just say "If you can dream it...it has happened!" But then again, you have ups and downs with any job. Just know that running your own Inn is a 7 day a week 24 hour a day job. You never get a day off...EVER! Even when you take time off your still connected. I hear the best part of owning a Inn is the day you buy it and the day you sell it. That said, we are going on 19 years and still enjoy it but its not for everyone. You get the good with the bad!.

I'm happy to hear you're still enjoying it after 19 years. I'd like this to be what takes me to retirement, which is probably 25-30 years away!
.

Do you already have a place in mind?
.

I have an area in mind. I'm putting myself on a 3-5 year timeline to get to the point of owning my b&b. Mainly, this is for financial reasons. An entirely different discussion!

Honestly, it isn't the work that scares me. I'm a workaholic at heart and hate sitting still. It's getting the financial approvals necessary to get into a property which is what scares me.
.

I have an area in mind. I'm putting myself on a 3-5 year timeline to get to the point of owning my b&b. Mainly, this is for financial reasons. An entirely different discussion!

Honestly, it isn't the work that scares me. I'm a workaholic at heart and hate sitting still. It's getting the financial approvals necessary to get into a property which is what scares me.

Most people don't really go about it this way, they jump in with both feet. Planning and asking horror stories? An odd combination. This forum has a decade of stories embedded throughout, I would just peruse the forum til you find what you are looking for.