I Bought a Hotel for £2,250,000

I bought this 500 year old hotel for £2.2 million and in this video I wanted to share behind the scenes, how and why I decided to buy this business.

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Who am I?
My name is James Sinclair and I'm the founder and CEO of The Partyman Group of Companies. I started building my business when I was just 16 as a family entertainer after that I built up an entertainment agency, then moved into building a leisure and day nursery businesses. Today we operate a £30 million business which includes leisure, childcare, outdoor attractions, commercial property, arts and crafts manufacturing as well as one of the UK’s oldest Ice cream companies; The Rossi Ice Cream Company.

⌚️Timestamps:
00:00 I bought a hotel
00:12 The hotel myth
01:00 The pros of owning a hotel
01:30 Why I bought a hotel
03:00 The hotel restaurant
03:50 The management team
05:00 Buying Business Experience
05:54 How I bought the hotel
10:35 My plans with the hotel

#businessowner #business #entrepreneur

[callumdean]

Sounds like you need an experienced revenue manager to fill your bedrooms, James! Experienced hotelier here; ~10 years in the industry, experienced deputy & general manager. I'd love to work for you!

[Philxxxxxx]

This is just the best channel on YouTube, I love it. I do prefer these shows with just James presenting rather than the new podcast format with the co host.

[bartoni]

I’d like to see a biography of what you started doing then how you grew with some numbers thrown in for good measure and mistakes / great decisions that cost/ transformed your business. Maybe a chart showing profitability of each business over the years..

[garethg]

I’m gonna be completely honest. I love this channel more than the podcast. I love seeing graphics, enaction and physical business going ons. I tried a few episodes of the podcasts but I personally think I get more value for me personally from this channel. Love you’re stuff awesomeness

[niterider]

Really good vid. Couple of suggestions. You're not using your kitchen & Restaurant at night. Have you looked at the local food truck scene around you. If you approach a few good, innovative ones and see if they want to host nights in your hotel. It'll cost you nothing, they bring the food, staff & customers. You can make a cover charge & take the booze revenue. More importantly it brings footfall into your hotel, you can gauge what cuisine is popular. It works for the food truck as most of them see it as a stop off to having their own restaurant. If you source, say 5, who agree to 2 a month it helps utilise free space. If one is really successful they could be your new restaurant. Second suggestion is you're running sandwich / toastie lunches. Get your manager to check out Diners, Drive-ins & Dives on the food channel. That show will give you lots of ideas for standing out from the crowd. Best of luck reviving this fab hotel. Iain

[Bussellification]

My business supplies restaurants in Essex so I can see Maldon is really growing at the moment. Lots of development etc. The blue boar is in a great location just off the main area on the high street. I have been in several times over the years looking for business and always been surprised there wasn't a propper restaurant operating there so I'm glad that's the plan, theres lots of great restaurants and bars all around that area now so I'm sure it'll do well. I'll get in touch to see if we can become a supplier.

[phonixq]

Videos have been spot on. Enjoy this format with a specific. Or the ones that show a week of activity. Or the podcast. There's a lot of great content coming out just now

[Paul-cfnm]

One of the best videos you've done. Absolutely love these types of videos!

[paulyork]

James, 'thank you' for your incredibly informative ongoing advice... its truly appreciated. The financing option you describe for the hotel is perfect for being able to establish those 3 year accounting records, which the banks generally require. If all goes to plan, it sounds an exceptional project for you 🤞. Can you offer any valuable insights for us, of your plan B... ie, if things went wrong or perhaps another black swan event occurs like Covid... knowing how you'd navigate these times of stress, whilst managing the finances would be invaluable... Thanks James and I wish you all the success my friend, you deserve it.

[tomb]

Great video as always James! Would love to learn more about your childcare businesses, especially understanding the government funding hours impacts the business. Keep up the great work 🧡

[MarioGarcia-rgbh]

Cheers James, great video. Thanks for keeping this format on here and look forward to visiting the Blue Boar tomorrow for your event!! ❤👍👍👍

[steliosphilippides]

very informative video James, giving us the structure and the whole process of owning a business. Will love to see more with the day to day business of the hotel, how the bookings come in, how the progress of the hotel, the seasonality struggle etc. thank you for the video,

[BenjaminMazs]

Hi James! Love your videos. Thanks for always continuing to upload and provide so much in-depth information.

My video ideas/requests - interviewing other business owners (not necessarily same line of work) and what a day off for you looks like (would be a nice one-off!).

Thanks again, much love.

[ssbomber]

This is so good James. Keep doing this stuff.

[lettermoney]

Well done James, nice to see they way you’ve set up the deal, would be nice to see the planning and work that goes into renovating the rooms and making the kitchen profitable again

[johnsingleton]

I started my first business from scratch and am currently buying my second. This is good isht.

[andrewchart]

Thank you James. I enjoyed watching this.

[LearntolinedancewithRichard]

Great video. Lovely seeing the hotel and James plans for it

[godwinsgaming]

Well done. Congratulations. I really appreciate you explaining everything. Even more appreciation goes to your statement that seven years in a business life is when things get interesting, not two or three as many have us believe or even teach us.

[TheChodax]

Best of luck with the new venture, be interesting to see it develop.