The first thing potential purchasers of hospitality properties should know before looking for businesses in Vermont or New Hampshire is that there are only a handful of brokerage and consulting firms that specialize in only the sale of hospitality properties--Country Inns, Bed & Breakfast Inns, Lodges, Motels and Restaurants. The Hearthside Group is the most highly recommended and sought after firm in this category in Vermont and New Hampshire because of our expertise in handling these types of transactions and because we respect and enjoy taking good care of people who are making huge lifetime changes and financial “leaps of faith” to pursue the dream of owning a hospitality business.
The transfer of an Inn from one person or persons to the next is much more than a “sale.” If handled with care and expertise, it is a good “match.” The Hearthside Group is a small, intimate firm of four brokers who are dedicated to putting together good “matches” as opposed to “sales.” Our goal is to guide both Sellers and Purchasers through the acquisition process as smoothly as possible. We have a genuine interest in helping aspiring Innkeepers find a property that fits their budget and their lifestyle. We are not “sales oriented,” therefore, we will be forthright in telling you if you are going down the “wrong path.” We are good listeners and will help you to develop a business model that is realistic and we will operate creatively to find a business that meets that model often soliciting businesses that are not actively on the market.
Whether we represent the Seller of a hospitality property or you as a Purchaser you will find us tremendously helpful. Unfortunately, residential brokers often take hospitality listings without knowing anything about the financial aspects of selling a business. This can mean months of wasted time and money for prospective purchasers who find themselves unable to obtain the financial information needed to evaluate a business for potential purchase. Such residential brokers also typically have an inflated idea of what a hospitality property is worth and therefore are unable to advise their Seller Clients accurately. This can create a serious obstacle for a purchaser trying to negotiate a realistic purchase price. Contrarily, the Hearthside Group brokers have an in depth understanding of hospitality businesses. We do our homework before listing a business for sale. We collect and closely analyze all relevant financial documents and advise Seller Clients of the market value of their business based on solid financial information and comparable market sales data. We are diligent in providing financial data to Purchaser Customers in a timely fashion appropriate to each transaction. We have a vast network of professionals who have experience in hospitality transactions, such as attorneys, accountants, structural engineers, permit specialists, bankers, etc. to whom we regularly refer our clients and customers. Hiring professionals with direct experience with hospitality business transactions will save purchasers time, money and aggravation.
The Hearthside Group brokers have sold close to 100 hospitality businesses in the last 7 years. Every transaction is different and we learn something new with each one. The experience we have gained working through these transactions enables us to be invaluable “hand holders” in helping future Sellers and Purchasers navigate through this intricate and sometimes daunting process.