Wednesday, December 21, 2016

New Price! Inn at Bath, offered at $799,000!

Great location, great historic home, great condition, great business, great kitchen, comfortable elegance, 8 guest rooms with private baths, several fireplaces, a couple two person jetted tubs, beautiful historic tree-lined street just steps from downtown! Bath is a lovely year round community with a nice art and foodie scene. Contact me for more details or visit the listing page on my website. This is a great property at a great price!

Friday, November 18, 2016

Innkeeper: "How Was Your Stay? Guest: It was FINE". Uh-oh...

This was a screen capture during a  presentation from a recent hospitality conference.

Until I saw this picture, the word "FINE", to me, had another meaning. From the movie The Italian Job: freaked out, insecure, neurotic and emotional!

Check out is a great time to make sure your guests enjoyed their stay. You have that wonderful opportunity to recap their stay, validate their experience (and your innkeeping efforts) and ask "did you enjoy your stay with us?" If you hear "it was fine"?  That's not good!

But it's a way to be proactive about feedback and the dreaded negative criticism if there is any coming. Looking at the positive, if there was an 'issue', it's your opportunity to try and address it at the time and NOT later on TripAdvisor. Being proactive at this point takes a bit of effort, but it can really preserve your reputation in the end. It may prevent a less than favorable review!

Tuesday, November 15, 2016

New Prominent Rockland B&B Listing!

This lovely Rockland landmark was built in 1893 and offers 8 guest rooms, a beautifully landscaped lot, detached owner's cottage and a strong business! Great for weddings and events, and open year round. Fully sprinklered, high ceilings, beautiful original woodwork. Rooms are spacious and well appointed. There are two parlors, a lovely dining room, a large wrap around porch which is quite popular with guests! Walking distance to the heart of town and surrounded by lovely historic homes and buildings. This is a postcard B&B!

For more information, please visit the listing page on my website. And feel free to contact me with any questions.

Sunday, November 13, 2016

Buyers Ask: How did the seller come up with the price?

🏡 Offered at $1,500,000 🏨

A very common question I seem to get regularly from buyers is "how did you come up with the price?". That's a very good question.

I don't come up with a price, my sellers do. A listing agent advises, the client decides.

What we do at The B&B Team is a very thorough assessment of the profit and loss statements, tax returns, and occupancy. We analyze the business that exists within the piece of real estate, not just the real estate (like the residential market). And then we back into a price that's defensible and financeable. We advise our clients of this price range, and they ultimately decide.

Do we ever list a property at a price well above the range we've suggested to a seller? SURE! And there are often legitimate reasons for doing so.

Is the property more marketable than another with similar net operating income?  Is it in an ideal location? Does it have detached and private owner's quarters? Does it have larger than typical owner's quarters? Is there still room to increase revenue and occupancy? (thus leaving room for a buyer to grow the business), does it have an ideal lot for tented wedding and events? Does it have more than adequate parking? Is it within walking distance to town, yet on a desirable residential street? Does it have remarkable or historic features that buyers and guests are drawn to? Does it have really fabulous outdoor space for you and your guests to enjoy? Does it have a killer ocean view? Or a killer kitchen? Does it check off all the boxes on your list?

The point I'm trying to make is that we always start with a valuation of the numbers, because that's an important part what you are looking for in this lifestyle business. Are there sometimes reasons why you'd be willing to pay more? The answer to that is also SURE! You'll understand as you start to look at inns.

When we represent buyers and sellers, we know the numbers, we know Maine and its tourism industry. And we know how to help you evaluate everything that you'll need to in order to make an informed decision.

Thursday, October 20, 2016

Drone Photos by Penobscot Bay in Lincolnville, Maine

I decided to test out drone photos on a listing of mine yesterday. Being a hobby photographer, I've thought about buying a drone. But there's quite a bit of coordination involved in setting up the drone, setting up the shot, moving it around, and watching both the drone in the sky, the screen and controls in your hand. I think for now I'll hire someone to do my drone photos!

These are a few from Glenmoor By the Sea.

Enjoy the view and the foliage from the coast of Maine!

Thursday, October 13, 2016

The Maine Thing Is You...

Thank you Maine Office of Tourism I couldn't agree more!

Idyllic Autumn in Maine Postcard!

I snapped this while driving through Damariscotta toward Pemaquid Point - not a bad capture, and fabulous subject matter! If this doesn't exude New England in the fall, I'm not sure what does!

The Importance of Owner's Quarters in a Bed and Breakfast

Jan Wolf of our Team just wrote a blog post on the increasing importance of nice owner's quarters space. Worth a quick read.

More and more buyers today are placing a great deal of emphasis on finding just the right space.  And some buyers are families with a need for more than one bedroom.

After all, this is a lifestyle 'job change' and buyers aren't looking to completely sacrifice living space.

This is a basement!
Basements can be quite nice, it's all in the finishes...
(this is not my listing)

And these are photos of owner's quarters space from some of my listings........

The photos I've shown here are not what we typically find. They are exceptional. However, don't get discouraged if an inn has a basement apartment. My inn was a basement apartment, with hardwood floors and completely finished drywall ceiling, etc. It's really all in the finishes. If you have plenty of windows for natural light, even better. But let's remember something, you aren't going to be spending the majority of your time IN your quarters. You're going to be spending your time in the INN and on your business!

Contact me to discuss anything on your mind. I'm here to help!

Wednesday, October 5, 2016

Ah, yes, autumn in Maine!

I just saw this posted on Facebook by one of my beautiful listings, Greenville Inn. They do such a great job with social media. They share some amazing area photos showing the natural beauty of Maine. Check out their Facebook page. Nice job, Terry and Jeff!

The View from Greenville Inn

Friday, September 30, 2016

New Sports Bar and Lodging Property For Sale!

This fun and newly renovated pub offers great food and service and has been a landmark in Maine's River Valley for many years. Strong food and beverage revenue, with the lodging side of the business just beginning. There are 11 guest rooms with private baths and 3 rooms currently used for storage which could be converted to the owner's suite. A great opportunity and cash flow for this price! See the listing page on my website for more details. Offered at $599,000