Research and Planning
To run a small inn, you need to research the competition in your area to understand the market. Prepare a business plan outlining each step to launch your inn. Key steps include: obtaining financing and insurance, complying with regulations, establishing policies and procedures, hiring and training staff, creating a marketing plan, and managing ongoing operations. Careful planning lays a solid foundation for success.
Providing Exceptional Service
Focus on providing exceptional personalized service – this is a strength of small inns. Communicate effectively with staff and partners. Set aside 30-40% of income to pay quarterly taxes. Success requires hard work, but running a charming small inn can be very rewarding.
Owning an Inn: Is it Profitable?
Is owning a small hotel profitable?
Opening and Managing an Inn
Is it hard to own an inn? Inns offer guests a unique experience hotels can’t. Inns are here to stay.
Operating an Inn
The Stonefire Tavern in Ironforge is owned by the Firebrews.
An innkeeper owns or manages an inn. They check guests in and give room keys.
Tips for Prospective Innkeepers
Running an inn takes more than a cookbook and antiques. Here are 5 tips for prospective innkeepers. Enjoy our free Guide to Buying an Inn for more tips.
Investment and Financial Planning
Inns are seasonal, taking effort to run. You can make a living once steady. Inns give weary travelers a place to stay.
The average inn has 6 rooms. Occupancy is 44% at $150 per room. Revenues before expenses! It’s hard to generalize income because it depends on the owner.
Expect a large upfront investment for an inn. Maybe 2,000 gold, with 5 gp daily expenses?
Seek an agent experienced with inns. Ask about their experience to ensure they meet your needs.