Listing ID: 76581
The 1899 Inn Bed & Breakfast, La Veta, Colorado. This stunning traditional style sandstone building listed in the National Register of Historic Places as La Veta Hospital, has been the center of La Veta hospitality for the last 40 years. The seller and her family of artists have lovingly curated every bit of the property, from the thoughtful additions, custom leaded and stained glass pieces, to each antique and piece of local art. The original building offers 5 guestrooms, each with in room sinks, 2 with their own full bath, 3 which share a common bath. The stately living room and parlor show off the beautiful woodwork, architectural accents and original fixtures. The sunroom dining area was added in 1994 with custom stained glass windows and period style lights; this room glows with the light from the beautiful landscaped yard. The inviting kitchen with window seat, offers full commercial capacity appliances and includes laundry, bringing charm to the working hub of the Inn. The north side of the first floor is currently used as the innkeepers office and apartment. It includes the original front room/office, a 6th bedroom with sink, which leads into the second addition done in 2009 adding a living area with separate entrance, a bathroom with clawfoot tub and laundry, and a bright eat in kitchen which opens onto the back patio and yard. An additional 1bed/1bath detached cottage built in 1985 includes kitchen, patio and it’s own charm. The large parcel includes off street parking, and an original stone building now used as garage and storage. Located in the center of the La Veta Creative District adjacent to the Francisco Fort townsite and museum, off the Scenic Highway of Legends, between Denver, Santa Fe and Taos, this incredible home and Inn is a turn-key property ready for your dreams of Southern Colorado hospitality!
- Asking Price: $1,079,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1909
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
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- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
The original building offers 5 guest rooms, each with in room sinks, 2 with their own full bath, 3 which share a common bath. a 6th bedroom with sink, which leads into the second addition done in 2009 adding a living area with separate entrance, a bathroom with clawfoot tub and laundry, and a bright eat in kitchen which opens onto the back patio and yard. An additional 1bed/1bath detached cottage built in 1985 includes kitchen, patio and it's own charm.
The venture was started in 1909, making the business 113 years old.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals choose to sell businesses. Nevertheless, the true reason and the one they tell you might be 2 totally different things. For instance, they may claim "I have too many various obligations" or "I am retiring". For numerous sellers, these factors are valid. But, for some, these may simply be reasons to attempt to hide the reality of transforming demographics, increased competitors, current decrease in earnings, or an array of other reasons. This is why it is extremely vital that you not count completely on a seller's word, but rather, make use of the seller's response combined with your overall due diligence. This will repaint an extra practical picture of the business's present situation.
Existing Debts and Future Obligations
If the current company is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your deal. Lots of businesses borrow money in order to cover things like inventory, payroll, accounts payable, etc. Bear in mind that sometimes this can mean that revenue margins are too thin. Many businesses come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may additionally be future obligations to think about. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with suppliers that should be satisfied or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location bring in brand-new clients? Many times, businesses have repeat consumers, which develop the core of their daily revenues. Particular elements such as brand-new competition sprouting up around the area, roadway construction, and also staff turn over can impact repeat consumers as well as adversely affect future incomes. One crucial point to think about is the location of the business. Is it in a highly trafficked shopping center, or is it hidden from the highway? Undoubtedly, the more people that see the business on a regular basis, the higher the opportunity to build a returning consumer base. A final idea is the general location demographics. Is the business placed in a largely inhabited city, or is it situated on the edge of town? Exactly how might the local average family earnings influence future earnings potential?