2008 June 16 | money news blog

Archive for June 16th, 2008

16 06 2008

Big problems in store for small businesses - Daily Telegraph

Posted by: admin in Latest News

Big problems in store for small businesses - Daily Telegraph
“I have never run a small, struggling enterprise - unless you count my presidential campaign last year,” Senator John McCain joked to a group of business owners last week. “But I do know that, more than anything else, small businesses are what make

Retired executives in SCORE offer mentoring, advice to business owners - Sfvbj.com
Chef Jimmy Wu mastered the art of the sushi roll and the delicate simplicity of sashimi, but when it came time to open his own restaurant, it was as if asking a novice the difference between red tuna and pink snapper. So Wu took some good advice and

A dose of subsidy is bad business - Boston Herald
C all it the tale of two taxpayers. Right now, there’s a guy - let’s call him Henry - rolling down I-93, trying to keep his small construction business afloat. Unscrupulous competitors using illegal immigrants are undercutting his price. State

Temecula Valley Bank Announces the Appointment of Timothy L. McLain - PR Inside
“Tim is an outstanding addition to our SBA team of lending professionals who are committed to providing small business owners with personalized service and competitive financing options,” stated Stephen H. Wacknitz, Chairman of the Board, President and

Coffee Break: Author to hold free workshop - Memphis Commercial Appeal
Author and entrepreneur Jay Myers will offer a free small business workshop from 3:30 to 5 p.m. this day at InSouth Bank, 5299 Poplar in East Memphis. Myers is the founder and CEO of Interactive Solutions, Inc., a Memphis-based firm that specializes in

What to do - Memphis Commercial Appeal
The Small Business Chamber “Small Biz Workshop”: 3:30-5 p.m., InSouth Bank, 5299 Poplar. Speaker: Jay B. Myers, founder and CEO of Interactive Solutions. Preregistration is required. Call Robert Staub at 870-6934. OptimaCare seminar: 11 a.m., Ryan’s

Intel puts solar technology into new company - Network World Fusion
Broadband Services Ethernet Switches Metro Ethernet MPLS Routers WAN Optimization Clear Choice Tests IT Buyer’s Guides Whitepapers Webcasts Value of WDS Intel plans to establish a new company called SpectraWatt to develop solar energy technology and

Small Businesses Struggling to Stay Afloat — Rising Costs Have Some - Blackenterprise.com
PITTSBURGH - Small business is risky business these days. Costs are rising, profits are shrinking and the ability of the big guys to keep prices relatively lower is drawing away customers. Things are so bad that many small enterprises, which account

Four held in Dutch hostage drama - Guardian Unlimited
Four people are believed to have been taken hostage in a Dutch town hall this day by an armed man in dispute with the local authorities. A cafe owner in Almelo, around 100 miles east of Amsterdam, started a fire at his own business before driving to the

Check’s not in mail: Clients slow to pay - Miami Herald
Many small-business owners are contending with some painful fallout from the economic slowdown: customers and clients who are taking longer to pay. Often, slow payers are also struggling with receivables that aren’t coming in, and so they can’t pay

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16 06 2008

Interview with Boomer B&B Owner - Part 1

Posted by: in Your Business

My husband and I just left our favorite B&B - Olde World Bed and Breakfast in Dover, Ohio after a wonderful weekend. As I promised in my previous blog posts (one, two, and three) I interviewed the owner. I’ll share this interview with you in two parts:

Linda and Ronnie Stroup (young baby boomers) became proud owners of Olde World Bed and Breakfast in June of last year (I was there and met her during the transition this same week in 2007). Their journey to ownership actually goes back many years, as Linda had a dream of owning a B&B for many years. There were two ‘trigger’ events that made them decide to make the change and buy a B&B:

First, Linda went to a leadership seminar in Cleveland, and the seminar director gave each participant an assignment to answer these questions: 1. What is your passion? 2. What are you doing to get to it? These questions really got her to thinking about making a change

Second, Linda and Ronnie stayed in a B&B in December 2007. This was the first time he had ever stayed in one, and he loved it! He stated, “If this is your passion, what are we waiting for?”

They started immediately looking all over the country for B&B’s to purchase. They focused on ones they could afford, and they also looked for two main locations: tourist areas and major university towns. Linda said cities with these qualifications have the best potential for success.

The Stroups found Olde World from a B&B “for sale” listing online, and they were excited because they both loved the Tuscarawas valley and the B&B was in a great tourist area - the Amish country of Holmes County, Ohio. They went to visit, Linda states when she walked in the door, she knew this was the one.

Then came the difficult part - negotiating a price and finding funding. They were buying a “turn-key” operation, since all the furnishings were going with the business. The massive banks turned them down, but they were able to find funding from a local bank, but had to pay for a consultant to process the SBA paperwork. (I’ve never heard of this; I thought the SBA would help with this if the bank wasn’t comfortable doing it. I will find out about this from my local SBA person and let you know….). It was also difficult for the bank to estimate the value of “goodwill” (the number of loyal returning customers, like me and my family). Finally, they’d the negotiations done and were ready to begin the business.

Tomorrow: The first year, and the 3 things you need to start a Bed a Breakfast. Stay tuned….

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16 06 2008

Teton Pines, Estate of the Day

Posted by: in Real Estate News

Filed under: Estates

Today’s home in Teton Pines, Wyoming isn’t the most high-priced or largest in the region but it has a great open style. I love the homes that take the Jackson Hole style of making log cabins on steroids and turn it into something lavish but also modern and intimate. The home sits on the fourth hole of the Teton Pines Golf Course. It measures 6512 square feet and has four bedrooms. The open floor plan features high pitched ceilings and a juxtaposition of stone walls and light wood for an airy feel. I’m not sure what the upholstered chairs are doing in the kitchen, it looks a tiny like an office but overall the use of white oak and and big windows facing the mountain views have me sold on this home. Also worthy of note is the master suite which features a fireplace, a dry sauna and a steam shower. This home is listed at $4.95 million.

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