Brent212 said:
... 1) What do you know now that you wish you knew when you started? 2)Do you love it? 3) If so/not, Why?
Hello, Brent. Shelley and I are brand new innkeepers. We just bought our property on the 1st of June. I still work full time as a consultant, so I am gone half of the time. Shelley runs it almost by herself when I'm at work.
1) What do you know now that you wish you knew when you started?
Shelley would probably have a different answer to number one, but I wish we would have known more about how things worked and what things needed replacing. For example, we found that the dishwasher was horribly inefficient, so we had to replace that. Shelley found she really needs a double oven, so that is a purchase coming up. We found out the hard way that we can't plug the toaster oven in the same outlet circuit as anything else. Luckily, the PO's were staying with us, and they came and helped out during a busy breakfast morning when breakers started tripping.
2) Do you love it?
Absolutely. I was originally thinking that I would retire within 5 years, but I hate being away. I love our town, our great guests, the music, the relationships and partnerships with other business owners, even the work is fun (well, some of it, anyway). I am seriously reconsidering turning our 5 year plan into a 2 to 3 year plan.
3) If so/not, Why?
From a business perspective, almost everything we do and buy is a tax write off. The business pays for our lives, almost. Also, there is just something free about owning your own business. It's like having a child: some days are good, some days are bad, but it's those really special moments that make you really really glad you are a parent/B&B owner.
Personally, it is something that my wife and I do together. Although we have pretty distinct roles, we collaborate on most everything (which means she usually gets her way.
Even though you will read many horror stories on here or hear about them from other innkeepers, they are the exception and not the rule. The main type of people that frequent Bed & Breakfasts are social people who are interesting and are looking to meet other interesting people.
Another reason why is the endless possibilities for creativity. You have the freedom to try any marketing idea and you will get different people every time. Have a jigsaw puzzle contest weekend (this was a great story from our B&B mentors). Hold a craft or music workshop. Use your creativity to solve your marketing challenges. We are constantly thinking of ideas to get people to stay with us during the slower times, like mid-week and winter. If something doesn't work, try something else.
I suggest attending the PAII conference in January as an aspiring Innkeeper. We went last year and we learned A LOT, and not just from the classes but from veteran innkeepers. I hope to see you there.
Sorry for the long post, but I could actually write about another page on this subject. Truthfully, for Shelley and I, it is a dream come true. Good luck with your venture..