Aspiring Innkeeper Seminar at Iris Inn is a Hit!

One of the things we at The B&B Team enjoy most in our work is introducing enthusiastic aspiring innkeepers to the myriad aspects of this wonderful lifestyle and business. This past weekend we had a terrific group that came from as far away as Arizona and as close as a couple of miles from Iris Inn in Waynesboro, Virginia where we gathered from Friday to Sunday. With Delaware, South Carolina, New York, and Florida also represented, it was a diverse group, and, I think all agreed, we had a great time.

Key to our seminars is bringing a strong dose of reality to the table. We know future innkeepers have dreams and aspirations, and we love to support those ideals with facts, figures, and experience gained from many years on the ground as innkeepers, consultants, and brokers.

A core focus of our seminars is the process of building a model. It's both so easy and so hard to simply take a stab in the dark trying to find a B&B, but a focused idea of what business model, location, style, and income needs comprise makes the process of searching for an inn much more efficient and enjoyable.

In our last post here we wrote about The Basics of Inn Valuation, and our attendees got a (mind swirling!) dose of information on what the difference is between commercial and residential real estate and financing as it applies to the Innkeeping world and acquiring or starting an inn. They learned about the role of cash flow in valuation and how the marketplace assesses the different components of inn value.

We also talked about current marketing trends, the importance of branding by creating a unique and memorable experience, and the basics of hospitality as well as some tricks of the trade.

It's gratifying for us to read comments like this: "Fantastic! Current, cutting edge, frank and honest, not sugar-coated to give a false or misleading impression of all the nuts and bolts of running a successful B&B," or "It took some of the intimidation edge off, as far as feeling capable of running a B&B."

As the seminar leaders, Rick, Janet and I especially enjoy dinners with our attendees, where we all have a chance to relax with a glass of wine, get to know each other a little better, and delve into some of the questions and concerns we don't or can't cover in a weekend-long seminar.

Our thanks to all who attended this weekend and to Dave and Heidi Lanford for being such great hosts! We thoroughly enjoyed ourselves and hope it was a rewarding experience for you! With our next seminars coming up in October at Candlelight Inn in North Wildwood, New Jersey, and November at the English Meadows Inn in Kennebunk, Maine, we'll continue with our practice of refining our program thanks to the thoughful feedback from our graduates.

Peter

Comments

[Christine Hasbrouck]

Your seminars are so worth attending! Jim & I attended the one you presented 3 years ago in Lambertville, NJ - we received a lot of great tools which helped us carry out a plan of action in finding the right inn. We will be celebrating 2 years as innkeepers on Sept 1, 2009!

[Rick Wolf]

Thanks Christine! We enjoy doing the Seminars, but really love it when folks like you and Jim go on to realize your dreams...and have fun and are successful in the process!

[Gale Ray]

We enjoyed the seminar and it is certainly an eye-opener to the B&B business. Now that we feel we have a true picture of what it takes to become an innkeeper all we need to do is make the incredible decision to do it or not. "An Innkeepers Journal" and "Inn Keeping for Dummies" are great reads and have helped balance the pros and cons of being in the business. An after seminar check list of things to prepare would be helpful as our minds are swirling with information. Thanks so much to Peter, Rick and Janet for a wonderful seminar.

[Rick Wolf and Peter Scherman]

Thank you for your comments, Gale. We'll take your suggestion for a post-seminar "Where To Go From Here" list on board.

[Eve Lenhart]

We came into this telling ourselves "if nothing else we will have a great weekend together at a great B & B"! Well for us it has taken on a life of its own. We learned so much and as so many there stated they were in transition (as we are), it has helped to lay out our path for the future (not forgetting the exist strategy)for the next few years! Tom and I continue to research and are currently making sure personal finances etc are where they need to be. I can't wait till the day comes and I can along with Tom welcome people to our Home/Bed and Breakfast!!! Tom and I both felt the sincerity from Peter, Rick and Jan that when the time is right they will support and guide us to reach our goals. I highly recommend this reality check for anyone thinking of Innkeeping as a possibility for their future!! For us it was money well spent and verification as to where our passions lie!! Thanks