Aspiring Martha
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- Joined
- Jun 19, 2013
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Hi everyone!
Just another humble innkeeper wannabe here -- wondering if I can pull this thing off. Over the years, I have read and studied and researched and interviewed and slept around (in a respectable way, of course
) at various bed and breakfasts. I have not yet taken an aspiring class and plan on doing that soon. My thoughts have run the gamut from "of course I can do this" to "what on earth are you thinking?". I have proceeded forward toward the B&B goal when in my positive mindset and now find myself alarmingly close to seriously jumping in with both feet.
My "I can do this" points are:
1. We already own a beautifully furnished and decorated 10,000 sq foot mansion on 5 wooded acres on the side of a hill in an upscale neighborhood with 6 nice-sized ensuite bedrooms, full gym, 2 large living areas, 2 kitchens - a large gourmet kitchen upstairs and another large kitchen (sink, microwave, refrigerator, laundry facilities, tons of cabinetry) downstairs , 2 large dining rooms, a huge game room (could be a conference center) with a huge bar (originally built to be a ballroom), 5000 sq feet of balconies with a breathtaking city view of Tulsa (population around 1 million) and beyond that beautiful hills, a new near-olympic sized swimming pool with diving board, fountains, and hot tub. The home overlooks the campus of a beautiful university and the 2nd largest skyscraper in the state of Oklahoma is centered in most of the homes windows. We are 3 miles from the Arkansas river and the Riverwalk - popular touristy restaurant and shopping area (on the river). There is also a busy mostly general aviation airport there where lots of people fly into Tulsa from Oklahoma City for weekend getaways. We are about 5 miles from downtown Tulsa. As we now have an empty nest, only my husband (who is an orthopedic surgeon) and I live here.
2. We successfully owned and operated a vacation rental in a nearby community which we sold 2 years ago thinking we would rather operate a bed and breakfast. (It was kind of hybrid bed and breakfast/vacation rental as my inner "aspiring" made it luxurious, put out fresh flowers, homemade pastries and a breakfast-stocked kitchen for my guests.) In my years of running the guest home we received only 5-star reviews.
3. I am a people person and with my husband's long hours, I get lonely.
4. We don't HAVE to have the money from a B&B to pay our bills.
5. We can use the tax write-off and the extra money would be nice to go toward improvements to the property that we wouldn't otherwise be doing. Also help paying down the mortgage (we are in our 50's) would be nice.
6. I started and operated (and still own) a successful business in the medical field. I have management that runs it.
7. It would be a fun way to spend our retirement years. (My husband is quite the gourmet cook and in in his happy place when in the kitchen.)
8. I don't mind (even somewhat enjoy) housekeeping chores and I totally enjoy gardening.
9. There are only 4 fairly small bed and breakfasts in Tulsa - about 17 beds total.(Not sure if this should go on my list of positive points or negative points as I am not sure why the other B&B's are no longer in business). Mine would be the most upscale and would probably rate #2 as far as "interesting" inns.
10. I can handle the marketing, website, booking, bookkeeping myself. I have designed several very nice, professional, and profitable websites.
My "what on earth are you thinking" points are:
1. I don't want to work my fanny off ALL the time.
2. I don't want to totally give up ALL of my free time to run the business. I love to sew and we enjoy traveling.
3. I can cook (and do) but I would not say I'm a great or creative cook. I definitely have a hard time cooking and visiting at the same time (and walking and chewing gum?). I tend to get rattled when too many things are going on at the same time in the kitchen. Of all the responsibilities, the breakfast thing scares me the most.
Soooo...
Here are some of my calculations and questions:
Based on a 50% yearly occupancy (yearly room nights 1095) which certainly "seems" feasible to me, a conservative GROSS annual income would be $202,572.00.
1. I don't know how to figure a price per occupied room for consumables (food, toiletries, etc.) Is there a typical number for this taking into account bed and breakfast quality meals?
2. I was thinking that it might be more cost effective to hire a contract labor housekeeper for about 4 hours a day (1460 housekeeping hours/yr. at 10 dollars an hour = 14,600/yr.
3. OK -- here is where I might be wayyy off in left field. Do you think I could hire a chef to come in maybe two hours a day in the mornings and if so - what might one charge for this? Two hours daily for a 365 day year is 730 chef hours. If I pay him/her $30/hr -- that would total 21,900 year. (We have several culinary schools in the city -- perhaps I might find a talented chef right out of school that would be interested in such an arrangement.
I understand there are a lot of other expenses involved (many we already pay) - but these are the ones I need to get a handle on before I go any further.
I appreciate any input, advice, or slaps upside the head that you might think that I need.
Looking forward to getting to know you all!
Martha
Just another humble innkeeper wannabe here -- wondering if I can pull this thing off. Over the years, I have read and studied and researched and interviewed and slept around (in a respectable way, of course

My "I can do this" points are:
1. We already own a beautifully furnished and decorated 10,000 sq foot mansion on 5 wooded acres on the side of a hill in an upscale neighborhood with 6 nice-sized ensuite bedrooms, full gym, 2 large living areas, 2 kitchens - a large gourmet kitchen upstairs and another large kitchen (sink, microwave, refrigerator, laundry facilities, tons of cabinetry) downstairs , 2 large dining rooms, a huge game room (could be a conference center) with a huge bar (originally built to be a ballroom), 5000 sq feet of balconies with a breathtaking city view of Tulsa (population around 1 million) and beyond that beautiful hills, a new near-olympic sized swimming pool with diving board, fountains, and hot tub. The home overlooks the campus of a beautiful university and the 2nd largest skyscraper in the state of Oklahoma is centered in most of the homes windows. We are 3 miles from the Arkansas river and the Riverwalk - popular touristy restaurant and shopping area (on the river). There is also a busy mostly general aviation airport there where lots of people fly into Tulsa from Oklahoma City for weekend getaways. We are about 5 miles from downtown Tulsa. As we now have an empty nest, only my husband (who is an orthopedic surgeon) and I live here.
2. We successfully owned and operated a vacation rental in a nearby community which we sold 2 years ago thinking we would rather operate a bed and breakfast. (It was kind of hybrid bed and breakfast/vacation rental as my inner "aspiring" made it luxurious, put out fresh flowers, homemade pastries and a breakfast-stocked kitchen for my guests.) In my years of running the guest home we received only 5-star reviews.
3. I am a people person and with my husband's long hours, I get lonely.
4. We don't HAVE to have the money from a B&B to pay our bills.
5. We can use the tax write-off and the extra money would be nice to go toward improvements to the property that we wouldn't otherwise be doing. Also help paying down the mortgage (we are in our 50's) would be nice.
6. I started and operated (and still own) a successful business in the medical field. I have management that runs it.
7. It would be a fun way to spend our retirement years. (My husband is quite the gourmet cook and in in his happy place when in the kitchen.)
8. I don't mind (even somewhat enjoy) housekeeping chores and I totally enjoy gardening.
9. There are only 4 fairly small bed and breakfasts in Tulsa - about 17 beds total.(Not sure if this should go on my list of positive points or negative points as I am not sure why the other B&B's are no longer in business). Mine would be the most upscale and would probably rate #2 as far as "interesting" inns.
10. I can handle the marketing, website, booking, bookkeeping myself. I have designed several very nice, professional, and profitable websites.
My "what on earth are you thinking" points are:
1. I don't want to work my fanny off ALL the time.
2. I don't want to totally give up ALL of my free time to run the business. I love to sew and we enjoy traveling.
3. I can cook (and do) but I would not say I'm a great or creative cook. I definitely have a hard time cooking and visiting at the same time (and walking and chewing gum?). I tend to get rattled when too many things are going on at the same time in the kitchen. Of all the responsibilities, the breakfast thing scares me the most.
Soooo...
Here are some of my calculations and questions:
Based on a 50% yearly occupancy (yearly room nights 1095) which certainly "seems" feasible to me, a conservative GROSS annual income would be $202,572.00.
1. I don't know how to figure a price per occupied room for consumables (food, toiletries, etc.) Is there a typical number for this taking into account bed and breakfast quality meals?
2. I was thinking that it might be more cost effective to hire a contract labor housekeeper for about 4 hours a day (1460 housekeeping hours/yr. at 10 dollars an hour = 14,600/yr.
3. OK -- here is where I might be wayyy off in left field. Do you think I could hire a chef to come in maybe two hours a day in the mornings and if so - what might one charge for this? Two hours daily for a 365 day year is 730 chef hours. If I pay him/her $30/hr -- that would total 21,900 year. (We have several culinary schools in the city -- perhaps I might find a talented chef right out of school that would be interested in such an arrangement.
I understand there are a lot of other expenses involved (many we already pay) - but these are the ones I need to get a handle on before I go any further.
I appreciate any input, advice, or slaps upside the head that you might think that I need.
Looking forward to getting to know you all!
Martha