How to Buy a Bed and Breakfast
Expert Guidance, from Search to Settlement
Welcome! Does your interest in becoming an Innkeeper include personal goals as well as business goals? It makes sense, then, that the process of buying a bed and breakfast is very personal. Whatever your level of interest, Eliot Dalton would like to discuss your Innkeeping plans and ideas. He can offer you valuable guidance as you search for the bed and breakfast for sale that’s right for you.
A good way to begin the process is by attending an innkeeping seminar where you will learn solid information about starting or buying a bed and breakfast or other lodging property. Eliot and his colleagues are experienced innkeepers and consultants whose combined knowledge is the foundation of the “Better Way To Buy an Inn™” seminars.
How do you narrow your search when there are hundreds of listings of independent lodging properties and bed and breakfast inns for sale? How do you evaluate (sometimes scanty) information? Eliot will help you narrow your search and target your ideal inn. Understanding the economics of innkeeping – becoming informed about what makes an inn financially successful – is an important first principle of bed and breakfast ownership. Eliot will help you evaluate critically important financial information.
When you find the inn that is right for you, the process of negotiating the sale begins. From offer to final settlement, Eliot will work closely with you to assure a smooth transaction. He will give you the expert guidance you deserve.
Ready to Start the Journey?
Get the 9 Essential Things Every Inn Buyer Should Know
About the Financial Status of Inns for Sale
Understanding the financial status and future potential of a bed and breakfast for sale is critically important. Every hospitality property that Eliot Dalton represents is financially evaluated. We use the following definitions to describe the financial strength of lodging properties:
“Independent Business” refers to a hospitality property that generates sufficient income to cover operating expenses, debt service (mortgage), and owner’s compensation, or has the realistic potential of doing so.
“Investment Level” refers to a hospitality property that generates sufficient income to cover operating expenses, debt service (mortgage), full time management and a profit to owners or investors. Typically, larger size properties.
“Lifestyle” refers to B&B’s that produce enough income to offset some, but not all, operating expenses and debt service (mortgage). Typically, these properties are smaller in size and are priced primarily on real estate value.
With years of firsthand experience in the innkeeping trade, Eliot has a thorough knowledge of the innkeeping business. Buyers who choose Eliot Dalton to represent them get the benefit of his broad knowledge of the market for lodging property and his association with reputable bed and breakfast brokers.
Purchasing a hospitality business can be the most rewarding decision you will ever make. Contact Eliot Dalton and let him tell you how he can help you.
Eliot has a unique approach to marketing your B&B. His background in both innkeeping and inn sales provides a detailed and thorough checklist. He adds value and confidence to the relationship and the transaction. I was very pleased with his knowledge, work ethic and attention to detail.
Both the sellers and the buyers in this case benefited from your consultation on the inn’s operations from a historical and pro-forma perspective. Having run an inn for 15 years, you lend a perspective that can only be accumulated from years of “hands on” experience.
I want to acknowledge how wonderful it is to have the cooperation of an inn broker who shares our commitment to the industry and dedicates his career to serving others in the friendly, conscientious way you do.
I just wanted to say “Thank You” for all the help you provided over the past years…. your inn consulting and the advice that you gave me was extremely valuable and always right on the money. Without implementing your recommendations, I don’t think we would have sold our inn at the price we did