Let the Games Begin

And so it begins. After several weeks of number crunching and research we have identified an inn we would like to purchase. This doesn't mean we'll get it. And it doesn't mean we won't freak out if we do (because you know we would). The bidding process commences this evening at 7pm, when we have a call with our broker to make the initial offer. I'm sure this will be the beginning of some back and forth with the sellers. Or, perhaps, outright rejection. We'll see. It all depends on whether or not the sellers are ready to acknowledge the pickle they're in. There's some debt involved (theirs) and some cash limitations (ours) that will likely come into play. Cross your fingers (and toes) and we'll keep you updated. You might want to wish us luck too. We'll need it... especially if this all works out.

It's Takes a Village

So. Yesterday we learned something new. It was interesting. It was concerning. It could possibly be a deal breaker. Yesterday we learned that the inn we are considering purchasing sits on the site of a Native American village. While the marketing possibilities for this are quite appealing, the process of having to excavate (yes, you read that correctly) prior to building anything is daunting indeed. Actually, I correct myself. It's more the having to PAY to excavate that is daunting. And so now, in addition to researching construction costs, we find ourselves researching "archeological historical" firms and the cost of excavation. Who knew?

Breakfast

We've noticed that a lot of bed and breakfasts take pride in (and are known for) their elaborate and rather formal breakfast service. This is usually a multi-course affair where everyone sits together and waits to be served by the innkeeper. We've seen a lot of fruit cocktails as starters, followed most likely by an egg dish of some sort. The issue is that you often have to wait for everyone to arrive before being served (or finish before moving on to the next course). In addition, the meal, quite simply, is often too heavy for the day's activities. We were thinking to rather follow in the European tradition of a breakfast buffet. This would include homemade breads and jams. Yogurt, granola, fruit, cereal, cheese. The list could go on, and of course the focus would vary from day to day so that guests would not tire of the same thing day after day. That is our feeling on the matter. But what is yours?

Which is a better breakfast?
	extensive serve-yourself buffet
	multi-course and served
pollcode.com free polls

Business Planning 101

This weekend we spent much of our time creating the business and marketing plan for our possible new venture-to-be. Steve was responsible for the numbers portion of this (thankfully), while I was in charge of creating the presentation and developing some of the marketing ideas that would help grow the business. Regardless, we both needed a crash course in what, exactly, goes into a business plan. Thankfully the Harvard Business Review has a little, handy, pocket-sized guide to this. AND it is well-designed! BONUS! Therefore, I was happy to sit down and read this cute mini book cover to cover Friday night. The whole process sounds so straight-forward until you actually start doing it. Then you quickly realize how many components there are and, oh!, how long it's going to take. The good news, however, is that Steve could not figure out how to make The Numbers NOT work. A good sign indeed.

Day Two : Sonoma

Since Day Two did not officially begin until 12pm, we decided that while we were in Sonoma, we may as well visit a winery during our free morning. I know. It was a tough decision. We limited our choices to wineries within the Sonoma area, since that was where we would be for our appointments. Gloria Ferrer, known for their sparkling wines, was the ultimate winner. And so we spent the morning sipping Rose Cuveé and Carneros Cuveé on the winery terrace. It was beautiful. Hot. But lovely. After this we were ready to view the final two properties on our trip. The first was a block or two off of the main square in Sonoma. We had never been to the heart of Sonoma, and it was adorable. Much like a mini-version of Healdsburg. (Healdsburg being already quite small, Sonoma is even more so. Perhaps that is why it was so sweet?). We couldn't believe we had never been there.

The first inn was also quite small. With only six rooms, it felt quaint. There was some potential here, but the two buildings of the inn felt jumbled and tight. It also needed a fair amount of work, despite the solid furniture and great location. We kept this in our mind as we moved on to the second inn—the last we would see this trip.

Inn number two was a five minute drive from the town center. The location, we lamented, could have been better as it sits off of the main two-lane Sonoma Highway. That said, we were immediately impressed with the scale of the property—which included a (relatively) considerable amount of land. The inn itself, also had a good basis upon which to improve. There was decent furniture and linens. Room for expansion. And, of course, the opportunity to improve the business. This, we thought, could be it.

At this juncture, our next step is to sign a confidentiality agreement so that we can receive the financial documents for the inns we are interested in. Once we are able to review those, we will able to fully assess if this is all possible. Or not.

Day One : Napa

We landed late-ish in the day on Wednesday into the Sonoma County airport. Correction, the Charles M. Schultz Sonoma County airport. With Snoopy to welcome us back to the area, we looked forward to two days of searching for properties to "acquire" (as our broker kept saying). Day one would focus on two inns in the Napa area—one in Napa itself, and the other in Calistoga. Since our first day didn't begin until 1pm, we spent the morning exploring the Oxbow market. This was a very very small version of what you see in Seattle's Public Market and even the Ferry Building in San Francisco. We bought some gifts of olive oil from The Olive Press, and set out to the first inn. This luxury inn, located in the heart of Napa, is rated one of the very best in the area. We loved the thought that clearly went into the operation, and were charmed by the charismatic owner. Unfortunately, we felt that although the inn needed work, it didn't need the TLC we were hoping to give. This lead us to the second property, located further up the valley in Calistoga—a historic inn clearly in need of all the TLC it could get. However, we felt that if there ever was a true life Money Pit, this was it. With zoning and water issues surrounding the town of Calistoga, to the structures sorely in need of rebuilding, this project was not for us. We hoped for better on day two.