Consider these factors in order of importance.
- Know your purchase price limit
- Popularity of town to visitors
- Location within the town - is paramount
- Pull up appeal
- Number of repeat customers
- Condition - reflects the true existing business and what yield you will pay
- Compliance of property to current regulations & ordinances
- Competition - sets your room rate
- Main website booking agents eg Wotif etc.
- Existing marketing in place
- Restaurant and hours it opens
- Size of residence - don't forget this - it probably should be near the top of the list
Download Software Worksheet Assistance:
- All Areas Overview
- 2nd Inspection worksheet - general items of awareness
- Acquisition information worksheet - in preparation for purchase
- Physical Due Diligence worksheet
- Room configuration (sleeping spaces) worksheet
- Inventory worksheet - active worksheet in members area
- Countdown to settlement worksheet - active worksheet in members area
This free software will assist you to in assess if the Motel Industry is for you.
However, we strongly suggest if you are serious about purchasing a motel consider using our specialised Priority Software.