Description of the business for sale
Here is your chance to live in and operate one of the most prominent bed and breakfast in Central Texas. The buyer has many options to arrange the facilities to blend his living conditions with the business, which can comfortably yield 5 suites and 3 rooms with little modification, resulting in an annual cash flow of $146,040 and owner benefits of $90,000 for a total of $236,040. Located within walking distance of a university, this historic facility includes two lots and three plus buildings nestled among beautiful and peaceful gardens, and offers 8 tastefully decorated guest rooms and a dining area.
GROWTH: The business has used the internet for all marketing efforts. There are numerous avenues to provide growth including, allowance of weddings, pets at a surcharge, and linking to the university boosters club, area events, tours and theme attractions, Historical Bed and Breakfast Associations, International Directories, more in state and out of state Hotels and Bed and Breakfast facilities and joining the Texas Hotel Motel Association. Growth of downtown residential housing may provide guests of small condo's and lofts's a convenient lodging.
ADDITIONAL FINANCIAL INFORMATION
•Financing: The seller will finance $1.6m for 10 yrs @ 9% interest only
REASONS FOR SELLING: Family reasons
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Support / Training provided by seller
Training and support of 2 weeks at 40 hours per week is provided.
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Description of the facilities
The property encompasses two lots with approximately 22,000 sq. ft. of land. One lot includes the main house and a large cottage. The adjacent property contains a breakfast area and two rooms with adjoining common sitting area.
COMPETITION: This business has been operated to coincide with family vacations, events and privacy and enjoys a great reputation. The bed and breakfast industry may benefit from a growing number of retirees and business travelers looking for a more comfortable alternative to hotels. An long term increase in fuel prices may hamper travel and occupancy rates.
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