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Here's To Your Profitable
Bed And Breakfast
B&B for Sale
There are plenty of things to examine when looking at a B&B for sale. Don’t be in such a rush to jump into the industry that you don’t take the necessary time to guarantee your purchase. One of the first questions you should be asking the current owner is why they are selling. There is any number of reasons why. It may be as simple as wanting to move on in life or to travel. A bed and breakfast takes a lot of time and some owners are looking to get some of their time back by selling. Of course there could be serious reasons also that they may not want you to know about until it is too late.
An inspection of the physical structure should be done before ever offering money on a B&B for sale. There could be a mold problem or a flaw in the foundation. These types of things can go unseen until after you buy if you don’t make sure they are non-existent first. Don’t take unnecessary risks where your time and money is concerned. Health code violations are a serious issue and you don’t want to end up paying for someone else’s mistake.
A B&B for sale means that it is already established. Ask the owner to let you take a look at the books. All accounting and tax information should be in order. Be sure that any outstanding debts will not become your own. If the current owner has nothing to hide then they should have no problem showing you the books. If they completely refuse then that isn’t the B&B for sale that you want to invest in. In all business dealings be sure to protect yourself first.
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