Potential B&B Owner Cannot Get Loan

A man who wanted to turn a 19th century Italianate home in New London, Connecticut, into a bed and breakfast has been unable to get a $500,000 loan, according to a report at TheDay.com. Emmett L. O'Neill Jr., who planned to buy the building from a local church, also reportedly became concerned about nearby drug dealing. The home, on the National Register of Historic Places, may be torn down to make room for a parking lot.

This is an example of how opening a bed and breakfast can be a much more complicated process than many people realize. In addition to having a good business plan, aspiring innkeepers have to deal with local zoning issues and food service regulations, become expert marketers, and much more. If you're thinking about trying to be an innkeeper, sign up for Aspiring Innkeepers Weekly, our free email series written especially for aspiring innkeepers.