For episode #12 of the Frictionless Innkeeper podcast series, we speak with Tim Piper, a renowned B&B expert and Partner with The Hearthside Group, who provides insights into his services and key trends in the innkeeping arena.
When getting into the B&B business, it’s all too easy to get caught up into the romantic vision of being an innkeeper in a bucolic place far away from the hectic pace that dominates life in major urban areas.
To be an aspiring innkeeper, the key is understanding if this business model actually works for you, and if so, develop the right strategies for ensuring long-term success. By taking off the “rose-colored” glasses, prospective innkeepers understand the realities behind running a successful inn or B&B.
Tim Piper offers in-depth business valuation and processes that help both B&B buyers and sellers either find, or sell, their properties. He also offers his popular Aspiring Innkeeper seminar series to help prospective buyers to fully understand how to succeed in this business.
In this podcast, Tim provides detailed insights into the consultancy services he offers for both B&B buyers and sellers:
· Tim’s background in the hospitality business. (1:04)
· Insights into The Hearthside Group’s offerings. (1:43)
· The services that Tim offers for prospective innkeepers, versus traditional real estate brokering services. (2:35)
· How the buying process works for Tim’s clients. (8:01)
· More about the services that Tim offers for B&B sellers. (11:01)
· Tim’s perspective on achieving long-term success as a B&B owner. (18:00)
· How Tim structures the payment for the services he provides for buyers. (20:44)
· Why it is important that buyers use consultants like Tim to help them find the right property. (25:34)
We would like to thank Tim for sharing his insights. You can learn more about The Hearthside Group by visiting their website.