...would it be better to buy land and build a new one? Also where are the hottest destinations for travel and tourism in the U.S. currently, where a small B & B would prosper?
2006-10-05 16:14:43 · 4 answers · asked by blkcat1969 2 in Business & Finance ➔ Small Business
I don't know about prospering B&B's I say research the B&B's in your area and around the world to see where a lot are located, look on travel sites. But I do beleive that as long as the current one is making money and is in good shape buy it, since it already has a customer base and you don't have to do much but move in and begin working. Good Luck
2006-10-05 16:17:23 · answer #1 · answered by Barbara C 6 · 0⤊ 0⤋
Are you looking for a B&B as a job allternative , as a business, as a vocation , as a retirement option?
Please contact local , state , regional B&B associations to find out much much much more info. Now go to class to learn about running a B&B, talk with a multitude of B&B owners, offer to work FREE for them to learn the in and outs.
As for Prosper how would you feel about investing 3 -5 yrs of labor (real work) 60 - 80 hrs+ week before you could report an actual Profit to the IRS?
Is this your real dream - go for it.
If not just enjoy the weeekends at B&Bs.
Go with knowledge.
2006-10-05 16:25:29 · answer #2 · answered by Anonymous · 1⤊ 0⤋
define "profitable".
If you take the same money and put it into conservative investments, would you make more money? That is the basic argument behind the "cost of money" argument.
If you mean, "would it make more money right away than the safe investment" the answer is "probably no." If you buy a place that is already profitable then you'll pay top dollar. If you buy a place that isnt' profitable then you'll have to change things and fix them up, and you don't seem to be experienced enough to do it quickly (if at all).
Never, EVER invest into something you don't understand, unless you're willing and able to pay for the lessons you'll learn the hard way.
2006-10-05 16:24:42 · answer #3 · answered by geek49203 6 · 1⤊ 0⤋
Its achievable yet you will choose a company own loan and a company plan superb element - bypass and see the financial institution with a depiction of what you decide directly to do they might desire to have the skill to signify a thank you to coach the appliance for a company own loan (it would probable be extra helpful in case you went alongside with your companion and deliberate to purchase it at the same time as she is already working there - she has the journey of ways the salon company runs and what needs to be executed to maintain it working.)
2016-12-16 03:03:41 · answer #4 · answered by ? 3 · 0⤊ 0⤋