Barliman
Active member
- Joined
- Dec 5, 2008
- Messages
- 27
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Yep. How on Earth are you ever going to pay for all this and recover the costs? The margin for most B&Bs are not that large. 2 viking ovens one viking stove and a viking fridge? ... for 5 guest rooms.....you literally could go 3 or more years before the B&B even begins to pay the cost of those puppies.Anything more I should be thinking about?
There is a caveat to building a new huge, has everything B&B....and that is that very likely you will sell it in under 10 years (its just the typical timeline for a B&B) If you overbuild it, you will never be able to sell it because it is too big to be just a house, and too expensive to be a B&B... the income has to balance the expense or the bank will never finance the purchase..
Point well taken and noted. This may not work for us. That's why we are doing it all on paper first. I have learned a few lessons about business in 50 plus years of working, too. i certainly agree Viking high end appliances are expensive, in fact quality is expensive. The question is, "Is the expense cost effective?" Does a Amish distressed hardwood cherry floor last long enough and be of low enough maintence to be worth the extra cost? Radiant tile bathrooms? A built in vaccuum system? Or should you go cheap and replace often? Or buy a Hoover and use all those extra plug-ins?swirt said:There is a caveat ... the income has to balance the expense or the bank will never finance the purchase.
You ALL are absolutely right.....it boils down to income. Higher than average occupancy and higher than average rates. And your plan and design had better be able to insure the first and command the later.
All of your replies are "Golden". Thanks!