me too i agree. have to say some english people very good like a natural talent for business. hes not just talking bullshit like most people do. he shows the numbers. numbers dont lie. oh fun fact i not france just to mention long story. but live in asia met very many people from all over the world what i basing my thoughts on.
how has this dude only got this number of subscribers? finally a coach who can prove what he talks about in his own business. As opposed to most who teach business success and their only success is that of their coaching.
I cut his hair for a good while and honestly one of the very few people who has given me good business advice, who doesn’t just talk fairytales and bull shit. Speaks realistic and honest. Great guy too
Hey James, really good video and thank you for sharing. I run a 70 cover pub and we do very well from it, we turn it 3 or 4 times over on a Saturday and Sunday. I wouldn’t get too obsessed by expanding the covers, our place is cosy and always looks full! We do 80-100k each month depending on month of the year
Also worth mentioning, we have two great chefs. I never know who has cooked what because the quality is so good from either. You can’t have an A and B team if you know what I mean
This is why I could never go into a business. I was pretty good and hard working (averaged 50 to 60 hour weeks as a contractor most of my working life) but you just have to have that additional spark, energy, desire (not really the love of money) to be in business. I am jealous of people who have that and are successful. It must be so fulfilling and fun to be in that place. Great video.
At least you are honest with yourself. Business making is not for everyone - you need a certain drive. Most just don't want to work for anyone else - that it itself can be a key motivator. I would fall into that category and I've made a reasonably successful business in property rentals. Came at a cost though.
Isn't it interesting how billionaires often brainwash people into believing that chasing money isn't the path to happiness? The truth is, while money itself might not bring happiness, it does provide security and freedom. These billionaires are securing wealth for future generations, and one thing they all have in common is that they're investors. It's crucial for people to take their financial literacy seriously and consider investing in the stock market. It really can work for you and help you build the financial future you deserve.
Good video. I am a GM of a high end 15m - year turnover hotel. One thing I found out is that it’s pointless fighting the OTAs. They are a tool to be used to boost ADR. That could be quiet times or busy times depending on your revenue strategy.
James - Watch the videos. Now living in Dubai for last 7 years. You used to do my kids' parties, which were absolutely brilliant. I still tell people about the things you used to do with the parents. Brilliant. Coming back for a few weeks and seeing a friend in maldon, so naturally, I would spend my money at your hotel. Also booked direct, so didn't lose the 15/30% 😂. Good luck to you. James.
@JamesSinclairEntrepreneur Hahaha. I used to enjoy the parties more than the kids. You were absolutely brilliant. Billericay mate. Our little circle of friends always had you over for various venues. And then we used to come to party man world in basildon. Super fun days when kids were young. Lovely to see you have done so well. So refreshing. Wishing you all the best.
Same here. I like listening and learning from him. He is a very smart businessman. I would like to know how much time he spends each day on business rather than other family and hobby persuits. Many successful business people pretty much live business 24 hours a day. You might get financial rewards from this but it comes with heavy costs socially and family wise.
Well done for being open and honest about the key financials. Most people are frightened to reveal those figures but its exactly what your audience wants !
As an ex hotelier I love to see these videos. Maldon has a high street full of restaurants now so it's a very competitive market. The joint venture idea is good but also problematic as you need to make sure the relationship is strong. Also the deal has to be very win win with the deal slightly favouring the other party. They're taking the higher risk and venues that strike to hard a deal lose in the medium term if the restaurant can't make money. Love what you've done with the rooms, keeping it individual is important for this type of property.
@@MrTj145 There is no captured market for a hotel restaurant unless it is in the middle of nowhere or a restaurant with rooms. This hotel is on Maldon High Street with at least 10-12 good eating options with 100 meters of it's front door. The hotel has 15 odd rooms so max 30 people capacity. Let's say there is a sleeper diner ratio of 20% (that would be good for a hotel with this level of restaurant competition) that's 6 covers. So you have to come up with a restaurant concept that will draw in the general public. This is doable but would need a direct entrance to the restaurant and a big investment in fitting out the restaurant along with a successful concept. It is not in any way easy.
I have no interest in hotel business, I am in the software engineering profession. But analysing the business in this way and your points are intriguing.
This is incredible content James, I watch these videos obsessively alongside your podcast. My business has exploded since I started following you a few years ago.
Going to show my age now, I loved the series on telly where John Harvey Jones went to businesses and suggested ways they could improve them (80's). More recently, I love Alex Polizzi's Hotel Inspector series (how does she put up with some of the owners). And now, I've found you. I'm retired now, but I find this stuff interesting and you do a good job and hopefully improve others businesses. Great stuff!
Genuinely really interesting video, not anything I’m ever interested in doing but a great insight into the business and your future business strategic thoughts
Fascinating video. I was in restaurants and hotels for many years and I think it's never been a tougher time to run an independent hotel. It would've been interesting to see the occupancy rates and REVPAR numbers. A good booking engine in-house is essential to get rates right well in advance. I can't think of anything more expensive than moving and refitting a commercial kitchen... Is there much garden space? Or Function room? The Wedding business is thriving and is very lucrative particulary if you package together rooms, ceremony, food and beverage.
James you seem like the kind of guy who could sell ice to an Eskimo. Love your positivity and drive. Great video and excellent explanation of the numbers in the hotel business. Subscribed.
The issue with hotels is seasonal demand, unless you happen to be a near a business which needs contractors on a regular basis who need to overnight as this will provide a steady income stream.
That was captivating, and from a young man. Black marker persisted on the hand, so was done in one take. I don't think the director dared to interrupt. All critical aspects well thought through. Loads of energy and intelligence. Might be difficult to work for, but will certainly be very successful; more than he already is. Should stop smoking to longer reap the benefits. I love this thorough well planned approach. But as a middle-manager in a multinational, I am forced to do things in a clearly unproductive client opposed way. I hate it, but I bury the anguish with a side hustle.
Amazing insight, thank you so much for sharing. I am in year 5 of my little business. Made a good little bit of Monday, but I feel I am at 10% capacity and I am trying to find something new to work on/add to my workload. Really struggling to find something new
Really interesting video James. Thanks for being so up-front with the management accounts and how you plan to invest in the hotel. Just subscribed to your channel. I think you you deserve more viewers and subscribers. I would love to own my own hotel. Currently I just own residential BTL properties. Where was your hotel in Maldon advertised for sale? Is it better to start on a smaller scale like a coffee shop or commercial let? I feel I can learn so much from you.
Really a fantastic video so nice to see how other types of businesses work. Had no idea such a big hotel would have such a small monthly profit margin. This guy is great and so attractive.
I have been in the hotel business 40 years. Size is important but also location needs to be good. The aim is to maximize prices and maximise occupancy through the year.
Loving your videos. Every 18yr old should be taught this stuff..how business should work. The brighter ones will take the knowledge and stroll into the world full of inspirstion, eagerness and ideas. If they don't then at least they've understood the nuts and bolts of what theiir future employers are up against, what creates jobs, what the risks are, why teamwork and multiskilling are vital... and why - whatever role they are in - they are a vital part of the business.
Nice to see the numbers, I definitely would like to see an update going forward, surprised by the drink sales, hopefully that will increase threefold with opening the restaurant
£80 a night for a single is a price I would pay. Though not sure I'd have any reason to visit Maldon. Didn't even know where it was until I looked it up. But there are several things that are a priority to me before looking at decoration. 1. Is easy parking available if I arrive by car. 2. Is the room secure. Can I leave my valuables inside without them getting knicked. 3. Peace and quiet. Can I hear the TV from the room above me? When working in London I preferred the cheaper Travelodge to Premier Inn. Travelodge was full of workmen who went to bed early. PI was full of noisy tourists and foreign students up until 3am. The room at one PI overlooked the smoking area of a nightclub. 4. First thing I want at the end of a journey is a few beers.
Sitting in my friend's large Bali home on the Beach. It is a private home and also super-premium high end Air BnB. The challenge of this dream home is the refurbishment cost (and effort) in a tropical climate.
Thanks for sharing the numbers. The purchase price seems low given the turnover - I mean you'd get a little box flat in London for that sum not a successful going concern. Perhaps when you provide an update you can mention the all on costs to refurbish the place to get an understanding on return on investment.
Great analysis, James! Hotels are fantastic businesses to own if done under the right structure, just like your freehold, which gives you more control compared to a leasehold AND with the right room count. They do still need to be managed carefully, otherwise CAPEX, staffing costs, utilities, distribution costs, and food supplies will eat your margin, or worse. It's a 24/7 business with high fixed costs and not for the fainthearted, but properly managed can achieve a healthy margin (particularly when occupancy hits over a certain threshold!). Your property must be getting good reviews by customers spending so much on drinks! Would love to learn more about your hotel over a call. Bertran from XpertHost
Hotels confuse me. Why would I pay over £100 for a nights sleep in a bed ? You perhaps spend an hour before going to bed and a couple of hours after getting up. Then you leave the hotel to go and do what you intended doing. So, the hotel may be 'nice' - expensive carpets, furniture, artworks. Well dressed staff etc. So what ? UK hotels are crazy prices.
Would you ever consider converting those rooms into apartments and operate a small aparthotel. Its a rapidly growing segment in the hotel market. Low costs + vat rate is lower in the uk after 30 days I believe
Greetings Mr Sinclair 😃 1st & foremost I hope that you and the family are all fine & well 🙏🏾 As always brilliant video. Keep up the good work, as we all know you totally enjoy it 😉 You & the family have a very blessed weekend whatever you do 🙏🏾
I had a high-class restaurant in 1983 that sold in 2006 and did very well. Those were the hay days of hospitality. Glad I'm out of it now - Good Luck James
@@JamesSinclairEntrepreneur yes which will be a mix of doing it ourselves for the donkey work and a skilled worker on day rate working with us so we can set the pace. This property is lower end though and will be rented out at £75 a night aimed more at builders in the week and stag do types at the weekend. Cheap and cheerful.
Love seeing the numbers! We've handled our Gas & Electricity costs by recording them as a rolling manual journal to smooth out the P&L, so we avoid fluctuations like that. Also, is your other limited company charging the hotel business £800 for rent? Just curious-what would the usual rent roll be?
Some years back I was part of a team working on the economic development plan for an area in the West Highlands. We had a top hotel consultant on the team, and it was an education. According to him, around 80% of the hospitality businesses in the area would never be more than marginal - simply because they were too small. Dozens of owners had invested their savings in a doomed business because they hadn't done their basic due diligence on the hotel business model that James outlines here.
Hi James, I was speaking to a friend of the family earlier this week and they have built up a successful storage company based just around the corner from RollaCity. They are in their early 60s and are considering selling ahead of retiring. Having followed you for a while, I wondered if it might be of interest to you? I don't want to take any more of your time now, but let me know if you'd like further details?
100k revenue with 25k op profit on a capital intensive investment is a low cover. You need 35% .. ...not showing them an estimated net landing position, post taxes etc was a bit naughty.
how do you repair and refurbish a room? I imagine there are all sorts of loud works to be done, also a great number of materials must be put in the room. do you need to close adjacent rooms for booking for that period?
He's probably referring to the fact that you can pass on small business shares IHT-free to your spouse. On CGT he's probably talking about future increases in CGT and if the limited company sells the hotel (assuming it owns it as an asset), the company pays Corporation Tax on the profits from the sale (capped at 25%) vs the potential future higher CGT (33-39%) likely coming in the budget if you sold the asset as one you owned personally/as a sole trader
Upvoted just for showing your numbers.
Most valuable, yet no one does it.
every public company does it
@ No one was talking about them.
Quite like your style, authentic, no hype. And no annoying music
Why thank you.
me too i agree. have to say some english people very good like a natural talent for business. hes not just talking bullshit like most people do. he shows the numbers. numbers dont lie. oh fun fact i not france just to mention long story. but live in asia met very many people from all over the world what i basing my thoughts on.
how has this dude only got this number of subscribers? finally a coach who can prove what he talks about in his own business. As opposed to most who teach business success and their only success is that of their coaching.
I cut his hair for a good while and honestly one of the very few people who has given me good business advice, who doesn’t just talk fairytales and bull shit. Speaks realistic and honest. Great guy too
True !..."Those who can, do. Those who can't, teach"..!!
@@mattclark7700 totally agree, you can tell this content is different to the rest
Hey James, really good video and thank you for sharing. I run a 70 cover pub and we do very well from it, we turn it 3 or 4 times over on a Saturday and Sunday. I wouldn’t get too obsessed by expanding the covers, our place is cosy and always looks full! We do 80-100k each month depending on month of the year
Also worth mentioning, we have two great chefs. I never know who has cooked what because the quality is so good from either. You can’t have an A and B team if you know what I mean
@@cardiomyopathyandme5970sounds great, what’s the name of your pub?
This is why I could never go into a business. I was pretty good and hard working (averaged 50 to 60 hour weeks as a contractor most of my working life) but you just have to have that additional spark, energy, desire (not really the love of money) to be in business. I am jealous of people who have that and are successful. It must be so fulfilling and fun to be in that place. Great video.
At least you are honest with yourself. Business making is not for everyone - you need a certain drive. Most just don't want to work for anyone else - that it itself can be a key motivator. I would fall into that category and I've made a reasonably successful business in property rentals. Came at a cost though.
A lot of corporate hotels have between 210-250 rooms and once the occupancy rate gets above a certain level then the figures start to stack up.
This video is so incredibly insightful and gives me tonnes of motivation, thanks a lot!
Isn't it interesting how billionaires often brainwash people into believing that chasing money isn't the path to happiness? The truth is, while money itself might not bring happiness, it does provide security and freedom. These billionaires are securing wealth for future generations, and one thing they all have in common is that they're investors. It's crucial for people to take their financial literacy seriously and consider investing in the stock market. It really can work for you and help you build the financial future you deserve.
You get rich by making credit work for you. Nobody ever got rich by saving money.
That's very practical and smart goal, a wise man once said do everything you can to get outta debt, one of his tips to get rich is Investing.
Investing and trading now will be the wisest thing to do especially with the current economic fluctuation and inflations.
Success usually comes to those who are too busy looking for it. If you're willing to do business or become an investor then you will be rich.
The digital market has been good news lately, many people in it are seeing a great return.
Good video. I am a GM of a high end 15m - year turnover hotel. One thing I found out is that it’s pointless fighting the OTAs. They are a tool to be used to boost ADR. That could be quiet times or busy times depending on your revenue strategy.
Hi, what is OTA ADR?
James - Watch the videos. Now living in Dubai for last 7 years. You used to do my kids' parties, which were absolutely brilliant. I still tell people about the things you used to do with the parents. Brilliant. Coming back for a few weeks and seeing a friend in maldon, so naturally, I would spend my money at your hotel. Also booked direct, so didn't lose the 15/30% 😂. Good luck to you. James.
@@JamesBrown-rx8tz best comment ever! Where did I do the parties. Seems a live time ago now!
@JamesSinclairEntrepreneur
Hahaha. I used to enjoy the parties more than the kids. You were absolutely brilliant. Billericay mate. Our little circle of friends always had you over for various venues. And then we used to come to party man world in basildon. Super fun days when kids were young. Lovely to see you have done so well. So refreshing. Wishing you all the best.
Have no interest in business or hotels but could watch you all day very smart man. thumbs up and subbed
Same here. I like listening and learning from him. He is a very smart businessman. I would like to know how much time he spends each day on business rather than other family and hobby persuits. Many successful business people pretty much live business 24 hours a day. You might get financial rewards from this but it comes with heavy costs socially and family wise.
Well done for being open and honest about the key financials. Most people are frightened to reveal those figures but its exactly what your audience wants !
As an ex hotelier I love to see these videos. Maldon has a high street full of restaurants now so it's a very competitive market. The joint venture idea is good but also problematic as you need to make sure the relationship is strong. Also the deal has to be very win win with the deal slightly favouring the other party. They're taking the higher risk and venues that strike to hard a deal lose in the medium term if the restaurant can't make money. Love what you've done with the rooms, keeping it individual is important for this type of property.
where's the higher risk when they would have access to booking numbers, as well as a captured market?
@@MrTj145 There is no captured market for a hotel restaurant unless it is in the middle of nowhere or a restaurant with rooms. This hotel is on Maldon High Street with at least 10-12 good eating options with 100 meters of it's front door. The hotel has 15 odd rooms so max 30 people capacity. Let's say there is a sleeper diner ratio of 20% (that would be good for a hotel with this level of restaurant competition) that's 6 covers. So you have to come up with a restaurant concept that will draw in the general public. This is doable but would need a direct entrance to the restaurant and a big investment in fitting out the restaurant along with a successful concept. It is not in any way easy.
I have no interest in hotel business, I am in the software engineering profession. But analysing the business in this way and your points are intriguing.
This is incredible content James, I watch these videos obsessively alongside your podcast. My business has exploded since I started following you a few years ago.
@@WintuhLiving well you’ve made my day. Hopefully I’ll see you at one of my seminars in the future!
@@JamesSinclairEntrepreneur sporadic comment replying I see😀
Going to show my age now, I loved the series on telly where John Harvey Jones went to businesses and suggested ways they could improve them (80's). More recently, I love Alex Polizzi's Hotel Inspector series (how does she put up with some of the owners). And now, I've found you. I'm retired now, but I find this stuff interesting and you do a good job and hopefully improve others businesses. Great stuff!
Thank you for the breakdown. Excellent work on the hotel and the industry details.
Genuinely really interesting video, not anything I’m ever interested in doing but a great insight into the business and your future business strategic thoughts
Fascinating video. I was in restaurants and hotels for many years and I think it's never been a tougher time to run an independent hotel. It would've been interesting to see the occupancy rates and REVPAR numbers. A good booking engine in-house is essential to get rates right well in advance. I can't think of anything more expensive than moving and refitting a commercial kitchen...
Is there much garden space? Or Function room? The Wedding business is thriving and is very lucrative particulary if you package together rooms, ceremony, food and beverage.
James you seem like the kind of guy who could sell ice to an Eskimo. Love your positivity and drive. Great video and excellent explanation of the numbers in the hotel business. Subscribed.
Very interesting. I wasn't looking for it, but I enjoyed it a lot. Subscribed.
The issue with hotels is seasonal demand, unless you happen to be a near a business which needs contractors on a regular basis who need to overnight as this will provide a steady income stream.
That was captivating, and from a young man. Black marker persisted on the hand, so was done in one take. I don't think the director dared to interrupt. All critical aspects well thought through. Loads of energy and intelligence. Might be difficult to work for, but will certainly be very successful; more than he already is. Should stop smoking to longer reap the benefits. I love this thorough well planned approach. But as a middle-manager in a multinational, I am forced to do things in a clearly unproductive client opposed way. I hate it, but I bury the anguish with a side hustle.
Didn’t even search for this video but glad it popped up, Very enjoyable watch
Amazing insight, thank you so much for sharing.
I am in year 5 of my little business. Made a good little bit of Monday, but I feel I am at 10% capacity and I am trying to find something new to work on/add to my workload.
Really struggling to find something new
Came across video, really informative
Clearly 13:45 , you are a successful businessman, but a lovely personality, not a show off or arrogant 😊
As someone who’s seen the behind the scenes on this from a marketing view, happy to see this video out 🎉
Really interesting video James. Thanks for being so up-front with the management accounts and how you plan to invest in the hotel. Just subscribed to your channel. I think you you deserve more viewers and subscribers. I would love to own my own hotel. Currently I just own residential BTL properties. Where was your hotel in Maldon advertised for sale? Is it better to start on a smaller scale like a coffee shop or commercial let? I feel I can learn so much from you.
Really a fantastic video so nice to see how other types of businesses work. Had no idea such a big hotel would have such a small monthly profit margin. This guy is great and so attractive.
Thanks for the insight James - have stayed in this hotel a few times, great to see it being shown some love.
I have been in the hotel business 40 years. Size is important but also location needs to be good. The aim is to maximize prices and maximise occupancy through the year.
Great video, thanks for the transparency
Thoroughly enjoyable and informative video - I have to admire your transparency
I like these videos very transparent. You should do a tv series
Appreciate how open you are to figures. Keep up the good work.
Loving your videos. Every 18yr old should be taught this stuff..how business should work. The brighter ones will take the knowledge and stroll into the world full of inspirstion, eagerness and ideas. If they don't then at least they've understood the nuts and bolts of what theiir future employers are up against, what creates jobs, what the risks are, why teamwork and multiskilling are vital... and why - whatever role they are in - they are a vital part of the business.
Great video !! Literally looking at buying a hotel and this was the video I needed, appreciate it James.
Nice to see the numbers, I definitely would like to see an update going forward, surprised by the drink sales, hopefully that will increase threefold with opening the restaurant
Very interesting and honest video packed with useful insights
The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance
Grammar and punctuation is a god send, when people use it
@@jeztickles4361what does this guy mean
I love how you mentioned SWOT withy Maslow hierarchy of needs
I like your energy and motivation, it's infectious ⚡
£80 a night for a single is a price I would pay. Though not sure I'd have any reason to visit Maldon. Didn't even know where it was until I looked it up. But there are several things that are a priority to me before looking at decoration. 1. Is easy parking available if I arrive by car. 2. Is the room secure. Can I leave my valuables inside without them getting knicked. 3. Peace and quiet. Can I hear the TV from the room above me? When working in London I preferred the cheaper Travelodge to Premier Inn. Travelodge was full of workmen who went to bed early. PI was full of noisy tourists and foreign students up until 3am. The room at one PI overlooked the smoking area of a nightclub. 4. First thing I want at the end of a journey is a few beers.
If I was a hotel owner, I would be taking this comment and using it to better my business, this is gold for anyone in hotels, especially number 3.
Sitting in my friend's large Bali home on the Beach. It is a private home and also super-premium high end Air BnB. The challenge of this dream home is the refurbishment cost (and effort) in a tropical climate.
Thanks James, I appreciate the transparency.
thanks for this, have no interest in owning a Hotel but have a finance background so this is extremeley iteresting. cheers.
Another excellent video James. Thank you for the transparency of your content and the quality of your delivery. Brilliant stuff!
Looking very dapper Mr Sinclair!! Great video, love the content on here and on the podcast.
Thanks for sharing the numbers. The purchase price seems low given the turnover - I mean you'd get a little box flat in London for that sum not a successful going concern. Perhaps when you provide an update you can mention the all on costs to refurbish the place to get an understanding on return on investment.
Great analysis, James!
Hotels are fantastic businesses to own if done under the right structure, just like your freehold, which gives you more control compared to a leasehold AND with the right room count.
They do still need to be managed carefully, otherwise CAPEX, staffing costs, utilities, distribution costs, and food supplies will eat your margin, or worse.
It's a 24/7 business with high fixed costs and not for the fainthearted, but properly managed can achieve a healthy margin (particularly when occupancy hits over a certain threshold!).
Your property must be getting good reviews by customers spending so much on drinks! Would love to learn more about your hotel over a call.
Bertran from XpertHost
You should do a numbers video on party pieces, i’m in online retail so that would be helpful.
Hotels confuse me. Why would I pay over £100 for a nights sleep in a bed ? You perhaps spend an hour before going to bed and a couple of hours after getting up. Then you leave the hotel to go and do what you intended doing. So, the hotel may be 'nice' - expensive carpets, furniture, artworks. Well dressed staff etc. So what ? UK hotels are crazy prices.
Ya I agree. I like staying in a nice place but there such a waste of money when you think about it
and can only check in at 1600hrs plus !
Like business class because the "company" is paying for it 🤷
@@serenityinside1 and gotta leave before 12:00hrs!
Well is there an alternative? If you go to a foreign place you need a place to spend your night
Great to see some real numbers. Not just the old “I’m making 60k a month” guru talk.
Would you ever consider converting those rooms into apartments and operate a small aparthotel.
Its a rapidly growing segment in the hotel market. Low costs + vat rate is lower in the uk after 30 days I believe
well done James! Love honest clear open vids
Fair play for showing the profit and loss - eye opener always knew drinks are the money maker but wow
Just came across your channel- punchy and to the point - love your adrenaline!
Greetings Mr Sinclair 😃 1st & foremost I hope that you and the family are all fine & well 🙏🏾 As always brilliant video. Keep up the good work, as we all know you totally enjoy it 😉 You & the family have a very blessed weekend whatever you do 🙏🏾
I had a high-class restaurant in 1983 that sold in 2006 and did very well. Those were the hay days of hospitality. Glad I'm out of it now - Good Luck James
Wow 20k a room! We are just doing a pub and converting upstairs into 7 letting rooms and have budgeted 5k per room, ours isn’t the ritz though
Are you including Labour?
@@JamesSinclairEntrepreneur yes which will be a mix of doing it ourselves for the donkey work and a skilled worker on day rate working with us so we can set the pace. This property is lower end though and will be rented out at £75 a night aimed more at builders in the week and stag do types at the weekend. Cheap and cheerful.
@@mrjamesmay354875 isn't cheap unless you're talking city centres. Travelodge until 2020 used to be £29 a night at many hotels during weekdays.
Good look with any bathroom in it 😅
This is so informative and inspiring, wow.
Excellent useful video. I thank you for your valuable time and effort in making this knowledgeable video.
Cheers mate
Just the best videos - thank you so much!
Hi James, Karen and I stayed there on our wedding night, I expect it’s going to be a lot better in your hands👍🤓
Great video James and what a great business this looks like being especially in your capable hands.
Nice video, very informative, no fluff.!
Excellent reporting
🎉🎉🎉🎉
Good luck
Good management
🎉🎉🎉🎉
I do like Rossi's ice cream parlour. The best reason for visiting Southend!
We love having you!
Excellent video! Thank you!
Probably my favourite video yet. It's great to see the numbers!
Glad you enjoyed it!
Incredible and informative video. Thank you very much sir.
The fella Comes off as honest.
James, get the reception staff to give out direct bookings details/cards.
Just stumbled on this video. Surprisingly a well pleasant guy.
Just found your channel. Very entertaining
This was really informative and entertaining. Followed!
These videos are brilliant. Very eye opening. Thanks for making them.
Excellent content as always thanks James
Glad you enjoyed it
Business gold. Expect to be business student famous
Superb video! Very informative - well done!
A great insight into running a hotel and the associated costs. 👏🏿👏🏿
Love seeing the numbers! We've handled our Gas & Electricity costs by recording them as a rolling manual journal to smooth out the P&L, so we avoid fluctuations like that. Also, is your other limited company charging the hotel business £800 for rent? Just curious-what would the usual rent roll be?
I don’t understand what you mean about the £800 ?
@@JamesSinclairEntrepreneur You have 800 down as the cost of rent on your Pnl
Some years back I was part of a team working on the economic development plan for an area in the West Highlands. We had a top hotel consultant on the team, and it was an education. According to him, around 80% of the hospitality businesses in the area would never be more than marginal - simply because they were too small. Dozens of owners had invested their savings in a doomed business because they hadn't done their basic due diligence on the hotel business model that James outlines here.
Hi James, I was speaking to a friend of the family earlier this week and they have built up a successful storage company based just around the corner from RollaCity.
They are in their early 60s and are considering selling ahead of retiring. Having followed you for a while, I wondered if it might be of interest to you?
I don't want to take any more of your time now, but let me know if you'd like further details?
Yes please can you drop me a line on LinkedIn or Twitter - I’d certainly look at it.
Interested to see how the employer NI and inheritance tax and CGT changes in the most recent budget will affect your business
100k revenue with 25k op profit on a capital intensive investment is a low cover. You need 35% ..
...not showing them an estimated net landing position, post taxes etc was a bit naughty.
This was great. Really valuable information. Subscribed :)
Welcome aboard!
Very engaging video! Will go watch some more now👍🏻👍🏻
Would you rent out the "join venture" restaurant, or profit split with the operator?
how do you repair and refurbish a room? I imagine there are all sorts of loud works to be done, also a great number of materials must be put in the room. do you need to close adjacent rooms for booking for that period?
Inspirational video. New Subscriber 😊
A lot of medium sized towns, a decent local hotel has the local nightclub in it. Particularly if the town is overlooked by the big national players
Your videos make me want to start a business immediately! I have the drive but lack a good idea 😂
check out his videos mate - he looks into various business models that he believes are good/bad.
How did you finance this deal James? How was the deal structured? Just a few quick figures would be great
We created a whole video about this! Check it out on the channel
Now this is the kind of adult entertainment I like! And with numbers... nice
Really enjoyed seeing the management accounts
Couple of questions… why is this business good for IHT & CGT (trading business) purposes?
Ps great video as always James
He's probably referring to the fact that you can pass on small business shares IHT-free to your spouse. On CGT he's probably talking about future increases in CGT and if the limited company sells the hotel (assuming it owns it as an asset), the company pays Corporation Tax on the profits from the sale (capped at 25%) vs the potential future higher CGT (33-39%) likely coming in the budget if you sold the asset as one you owned personally/as a sole trader
Amazing, loved this!
Glad you enjoyed it!
You sir should be a Dragon. Great energy and knowledge, you would be brilliant.
superb video....really clever man