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North Carolina ranks #10 in both grape production and wine production.

North Carolina has more than doubled the amount of land used to grow grapes to 1,300 acres since 2000, enabling the state to become the 10th largest producer of both grapes and wine in the United States.

North Carolina is home to 400+ vineyards and more than 80 wineries in 30+ counties.  The number of wineries in the state has grown tremendously this decade, quadrupling from 21 in 2000 to 84 wineries today. A report released in January 2007 by our department indicates that statewide, the wine and grape industries account for more than 5,700 jobs with an associated payroll north of $159 million.

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What would saving 20-25% on your insurance line item mean to you every month? Probably alot of money, when you think about it. Insurance costs has to be a top 5 cost for every B&B/Inn each year. And to have that type of a savings might mean the difference between making it or not! Give us your thoughts about insurance, and let us know how we can help you. We can give you testimonials of several proerties that have saved a tremendous amount of money just by giving us a call.

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This is not, I will repeat NOT!, a dirty word. You see it all the time, the great fun everyone is having, cooking up a storm on the food network and such. We all love to go out to eat, and get all giddy and happy when those beautiful plates of culinary creations hit your table. Match a good meal with a great wine, or even a local micro-brew, and you cant get much happier then that. Well, we are here to tell you that serving food at your B&B/Inn, if allowed, is really not that hard and can be very rewarding, to your bottom line and your mind. We will be conducting seminars to help all those who may have an interest in doing this, so just go to our web site at www.innspiredinns.com and send in your information or send us an email at mike@innspiredinns.com

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We love what we do since we always seem to be involved with really cool projects. They are fun because of the people that we get to meet, the areas of the country we get to see, and the neat buildings and homes we get to go in. One that is incredible, and if you are ever in Texas, North of San Antonio and West of Austin, you must go stay at, is the Riven Rock Ranch in Comfort Texas. The owners, Chris and Elaine Havens, are some of the most down to earth and friendly souls you will find. Their property is beautiful, and there is so much to do in that area of Texas you will never be bored. Go to their web site at www.rivenrockranch.com to see more about what I am talking about!

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We are blessed to have farmers/growers in the area that are so committed and devoted to their trade. They love their community and the god given resources that North Carolina has to offer. They put in a tremendous effort to grow and offer the very best products they can produce, and more often than not these products are not just some of the best items you can find in NC, but in the entire Southeast!

One other interesting part of searching out these local providers is how much $$$$ you save on food cost. Depending on how many meals you serve, these savings can add up fast and in our business every Quarter we save helps the bottom line. You many say that these small farmers and markets usually have higher prices, and you are probably correct. But, we would quickly point out that you buy only what you need, so you don’t have to get a case of something that will take you forever to use up. And, the quality of the products that you buy will last much longer then the store bought products that have been sitting on the shelves.

So not only are you getting the freshest products possible, but your guests will be thrilled to know that the eggs they are eating are from down the street at Mr. Jackson’s hatchery, or the goat cheese from our local farm! The area offers plentiful products that can be used for all meal times, so take the time to search these local markets out and do your part to support our farmers! Go to the web site below to find the local growers markets in your area! http://www.buyappalachian.org/

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Of the five different properties we visited, one was actually above last year in sales because for many years they have had the attitude of lower prices to keep people coming in. Three of the properties are doing everything in their power to keep their properties open over the next several months until season kicks in. And one is about a year away from facing difficult decisions, but wanted to make sure they are positioned to do the best they can during the economic slowdown.

This leads us to strongly suggest to anyone who is seeing dwindling funds in reserve to not wait until they are days away from having to “go dark”. As anyone knows, closing your doors and trying to sell your property in this condition will make it almost impossible to market your property to potential buyers.

If you missed our last newsletter, our project in Comfort, Texas is gathering rave reviews! This fabulous 250 acre ranch is providing the perfect setting for weddings, corporate meetings, special events and weekend getaways. Check out Riven Rock Ranch at http://www.rivenrockranch.com.

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Our client called us wanting our analysis on properties he was considering buying. All the properties were very diverse and had a huge price differential. He hired us and we began to compile our analysis. This inexpensive analysis gave him an unbiased, unemotional look at a potential multi-million dollar investment. As consultants we have no emotional or business investment. We can say it like we see it! As we delved into the properties we experienced the following:

1. Incomplete or misleading information on the marketing pieces for the properties.
2. Minimal or no financial data.
3. Realtors that did not or would not return our calls for information. How stupid is that when you can befriend someone that could help you sell your listing.
4. Really unattractive or unprofessional pictures of the properties.
5. Inexperienced or unqualified brokers.
6. Confusing websites and outdated or no online reservation systems.
7. No forethought on ways to increase business to justify sales prices. Who knows the property better then the owner?

So that got us thinking….how do you tell a savvy B&B/Inn owner who has built a great business how to sell their property? Even if it is not on your radar now, will it be in 1-3 years? If the answer is yes, here is the reality! Someone buying a B&B/Inn with little down payment and experience, and someone selling their property without solid financials and staging is just not going to happen in today’s world!

Some owners bought their property emotionally, or have run it as a “hobby”, or perhaps for many different reasons realized they just cannot make ends meet and need to move on with their lives. The problem is there are few to no buyers out there with 50% down payments that are emotionally tied to buying any property, let alone yours. So how do you combat this reality? That’s where fresh eyes and ears, unattached and unemotional professionals can do you a world of good.

Buyers, let one of these professionals that are not financially tied to the property take a look for you. It’s the best $500-$1,000 you can spend to keep the purchase in perspective. As professionals, we see things and have thoughts of what you can do with the properties that only experience can offer. I know it sounds funny, but as you buy a property you must embrace how to sell it! Also, by working with experienced consultants you gain the needed experience factor that many lenders are looking for.

Sellers, the bottom line is THE BOTTOM LINE! So how do you improve it? Don’t spend your valuable time inventing a wheel that is already exists. Qualified professionals have created systems that can be adapted to your business. Properties that have multiple sustainable sources of revenue are the ones that sell and sell closest to their asking price. Cash flow is the #1 qualifier for bank loans. Our company specializes in thinking “outside the box” and embraces grass-roots marketing and current technology.

If you are currently listed for sale or are thinking of listing, there are musts you have to have:

1. Fresh eyes to look at your property from a perspective you can’t emotionally see. Staging an operating inn is as important as staging a home for sale.
2. Current financials, cash flow and tax returns.
3. Maximize your revenue streams and profitability. You can’t start this when you decide to sell!
4. Employ a real estate professional that completely understands Inns and B&B’s. Hire one that can walk you through the ups and downs. We cannot emphasize enough; this is not like selling any other type property. It is a unique combination of home and business.
5. Time, Time, Time.

So now that we have you thinking you probably want to know what our client did! Well, we are still helping him look, just completing another analysis of another property he was interested in. He completely threw out his # 2 choice, he is looking at a similar, less expensive alternative to the # 3 choice and he is contemplating his #1 choice to see if he really wants to bite off the work it will take him to see a return on his investment. It cost him $500 to get the information he needed to assess a multi-million $ investment and he’s a client tht we will be working with in the future.

So, if you are thinking about how we can help you, give us a call or send us an email. They’re both free! Michael & Rhonda Horton

Ph. 828-329-5544 (RH)/5543 (MH)            Email: mike@innspiredinns.com
Web: innspiredinns.com                 Fax 828-693-3793

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Best regards,

Carl

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