When I first meet/talk to potential buyers of Bed and Breakfasts here in Niagara, one of my first questions: is how many people will be living in the Bed & Breakfast? Owner's quarters are a major factor when choosing which property to buy. Remember when you are buying a Bed and Breakfast you are buying three things:
1) a home,
2) a business and
3) a lifestyle.
All this in one home - a lot to ask for!
Owner's quarters in a Bed and breakfast, where you personally will be living should be as important as the business decision of Location.
When I look at the various Bed and Breakfasts that are for sale, it is interesting to look at how the owners live. The most successful Bed & Breakfasts are run by owners that figured out what they needed to by happy first.
When Bed and Breakfasts first came to Canada many owners often lived in sub-standard conditions. It was common for owners to give up their room for a guest, if that meant renting an extra room some night. More rooms equal more money, and everyone scrambled for as much as they could get. Too often innkeepers spent more money on renovating the Bed and Breakfast area than they could really justify, making them cash-strapped, forcing them to live is substandard conditions.
But the inadequate living conditions started changing as marriages were threatened and selling the Bed and Breakfast was challenged because buyers wanted something better than an unfinished basement. New Owners want more than a guestroom in their own home! They needed more to attract future buyers. Thank goodness for that!!
Bed and Breakfast owners have gotten smarter through the years, they are moving out of the basement and into their own areas by building extensions on the house. In Niagara on the Lake many homes were built as bed and breakfasts - these properties have private owners quarters that includes: small eating area, family room, bedroom.
There are basically 2 categories of Bed and Breakfasts here in Niagara, those that were renovated to become a Bed & Breakfast and those that were built as one. Both have advantages and disadvantages from a lifestyle and business decision. This is one of the topic we will need to discuss to find you the Bed and breakfast that suits your needs.
When you are ready to look at the Bed and breakfasts that are for sale - I will take you to both and let you decide what your needs are.