On Thursday, March 28, Bill and Lynne Keiper became the new owners of the Bed & Breakfast at Oliver Phelps, a 5 guest room B&B in the popular Finger Lakes region of New York. The former innkeepers, Jack and Donna Delehanty, plan to retire to the Pacific Northwest and pursue their passions for biking and travel.
Why the applause? It’s not just for the celebratory occasion of the purchase of the inn (which is deserving applause in itself!), but also the process the Keipers used to pursue their dream. They followed the classic model of investigation and discovery that Bushnell & Bushnell urges each aspiring innkeeper to consider:
- They attended The B&B Team aspiring innkeeper seminar conducted by Bushnell & Bushnell in Eagles Mere, PA., in the fall of 2011 to discover whether the dream of inn ownership was for them. And it was!
- They worked with Bushnell & Bushnell to develop the profile of the inn that would meet their personal goals… in location, size and business strength and potential
- Shortly thereafter they retired from their careers
- They put their home in Piqua, Ohio, up for sale and completed the sale in the fall of 2012, moving into a short term apartment in the interim. They were now jobless and homeless!
- The search for their inn with Bushnell & Bushnell then kicked into overdrive identifying candidate inns that fit the previously developed profile
- They traveled to the Pacific Northwest to visit this region of interest and visited a half a dozen inns and then prioritized them on their “short list“
- Their second region of interest was the Finger Lakes region of New York…a region of childhood memories of family visits
- Using their prioritized goals developed in their profile, they narrowed their short list to the Bed & Breakfast of Oliver Phelps due to its favorable location to attract guests, its immaculate condition, and friendly atmosphere developed by Jack and Donna.
- With help from Bushnell & Bushnell, the twists and turns of the acquisition process were successfully managed and each step of the process (financing, inspection, insurance, regulatory preparations) were carefully investigated and managed.
- Both the buyers and sellers kept their eyes focused on the ultimate goal…getting to the settlement table.
- Settlement was an exciting moment as both Bill & Lynne and Jack & Donna began the adventures of new lifestyles.
Many innkeepers do not follow this classic path to inn ownership…and many discover the pains and discouraging consequences of an ill-thought out plan and decisions.
So kudos to Lynne and Bill as they begin an undoubtedly rewarding and satisfying new career in the lifestyle of their dreams. Scott