2008 June 14 | money news blog

Archive for June 14th, 2008

14 06 2008

Starting a Bed and Breakfast: Do you’ve what it takes?

Posted by: in Your Business

I have been writing about bed and breakfasts as places to stay on a boomer vacation and as a business for baby boomers. Today, I’ll talk about how to start one and your odds of succeeding.

HomeBizNotes wrote about bed and breakfasts a few months ago and listed 21 “brainsparks” for you to consider if you’re thinking a B&B might be a great business. I agree with their list and would add that the key ingredient seems to be your location. If you’re in a tourist location, even if it’s seasonal, you have a superior shot at making a success of your busienss.

HomePowerBiz states you’ll need enough money to purchase or renovate the house, and that you’ll be working full-time in “season.”

Does a B&B sound like a business you might be interested in starting? This weekend, I’ll be reporting from my favorite B&B, and I’ll interview the owner. What questions would you like me to ask her?

Tags: baby boomers, bed and breakfasts, businesses, home-based businesses, HomeBizNotes

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14 06 2008

Storing small business data online: Good idea or bad?

Posted by: in Your Business

For a year or so, I used an on the web data storage system. I uploaded copies of all my writing (books, articles, blog posts) and all my financial data faithfully. But in the back of my mind, I always wondered if that was a good idea or a bad one.

The advantage is your capability to retrieve data online in the event of a hard drive crash or other computer malfunction.

The disadvantage is your inability to retrieve data on the web in the event of a hard drive crash or other computer malfunction. The other disadvantage is the possibility that other people might be able to get to your data.

Internet connections are becoming much faster and more reliable. And yet… even the ideal ISP might fail or (heaven forbid!) go out of business, and you know Murphy’s Law….

Several times of services are available:

ConsumerSearch reviewed several backup services in November, and more recently PCWorld reviewed a number of services. I’m thinking of getting back into an on the internet service because my trusty laptop has seen superior days. (It’s over 3 years old.) What do you think?

Don’t forget my “50 things to do at 50-something” contest - comment and put yourself in the running for a $30 book gift certificate. Final comments must be posted by June 21.

Tags: , mozy

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14 06 2008

Britney’s Old NYC Pad, Estate of the Day

Posted by: in Real Estate News

Filed under: Estates

I know this is the second day in a row we are featuring a furniture-less New York apartment but this one offers something different, the chance to see a before and after. This apartment in the Silk Building at t East Fourth Street and Broadway and it took her forever and a day to unload it, dropping the list price from nearly $6 million to $4 million before selling it. The couple who purchased the apartment in 2006 have now put the home on the market for $6.595 million. The current owners, Jessica Klein, a television writer and producer, and her husband, Isaac Levenbrown,spent several hundred thousand dollars sprucing up the home. And since we have some before pics from Britney’s old listing we have the ability to see some of the changes. The floors have been darkened, the master bath has been changed and the kitchen has had a really beautiful upgrade.

The apartment, which has three bedrooms and a 24-foot-long terrace, was also once owned by Russell Simmons and before that by Keith Richards. I’m not quite sure what makes this apartment so attractive to the rich and famous but for $6.595 million you can get yourself a heap of celebrity provenance.

[via the NY Times Huge Deal]

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14 06 2008

Bed and Breakfast Businesses: Part 2

Posted by: in Your Business

A couple of days ago, I wrote about Bed and Breakfasts as great businesses for baby boomers .

Bed and breakfasts have been around for a long time. They started out many years ago in the U.K, spread around the world. B&B’s might have been called ‘guest houses’ in earlier times. They’re not really “inns” since most are in private homes. Nearly all provide breakfast (hence the name), but no other meals.

My sister has stayed in B&B’s in Ireland and Australia, and she states they are a great way to meet local people and learn more about the country. She often tells about the charming woman in Kilvara, near Galway, Ireland, who ran a B&B that looked care about it was right out of a movie.

A bed and breakfast is a wonderful way to experience an area or a country, talking to people who know the sights and most of whom are willing to talk to you. My husband and I were in a B&B in Portland, Oregon, for just one night. We were at breakfast alone and disappointed that we hadn’t met anyone interesting. Just as we were about to leave, another couple appeared. Turns out they were from New Zealand, and we spent a lovely hour speaking to them about our countries, our discovery that their daughter and mine both were runners in college, and their suggestions on cruises and sightseeing in NZ. Now, where else could you find such fantastic, interesting discussions on a trip?

I don’t think I would have been comfortable staying in a B&B when I was in my 20s or 30s, but as a baby boomer, I’m comfortable with meeting new people and experiencing new things, and I’m not afraid to strike up a conversation with someone.

Have you stayed in a B&B? What kind of experiences (good and bad) did you have?

Don’t forget my “50 things to do at 50-something” contest - comment and put yourself in the running for a $30 book gift certificate. Final comments must be posted by June 20.

Image: B&B sign in West Cork, Ireland. Source: www.newscom.com

Tags: Australia, baby boomers, bed and breakfasts, Ireland, New Zealand

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