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
.