I'm beginning to realise that not being within walking distance of a restaurant or shop isn't going to be ideal, but not a deal breaker for lots of people.vacancesthezan wrote:In truth the most important is location location location.EricaT wrote:Dear folks,
It's me and my never ending stream of questions again!
I've posted some things in another forum and there is a terrible sense of gloom and doom around gites and their potential to earn an income. I am being told flat out, don't do it! I appreciate the frankness and the advice that people have been giving me but I can't help but wonder if there is another side to the story too.
So, I'm going to be very cheeky and ask the following questions.
1- Do you run gites and earn/gros £15'000 + per annum?
It was our only income for many years
2 - Do you have a pool?
NOPE
3 - Are you within walking distance of a shop/bar/restaurant?
Yes
4 - How many gites do you have?
4 apartments which can also be split into B&B - flexibility being the key
5 - What percentage of your guests are British?
about 30 to 40 % but depends upon the year. We are fairly fluent but inaccurate French speakers.
6 - Have you been established 3 years +
More than 15 years. This has been a full time job for one person (8 to 10 hours a day, 6 days a week out of season and 7 days a week in season). 3 to 5 days holiday a year (with computer in tow just in case!)
7 - Do you have an another income besides the gites or are the gites your sole income? (i.e. rental property back in uk or partner working away).
Now we have a retirement pension but prior to this only the business.
Erica
If you are in the middle of nowhere what are people going to do? If you are offering crafting then what are the other people in the party who dont do crafting going to do?
The keys are (LMHers may have more to add):
being somewhere (or having something) that people want to see and do
extending the season with careful pricing
doing as much yourself as you can
keeping a ruthless control over costs.
Plus having sufficient funds behind you as a cushion.
Why have you chosen £15,000pa ? Do you think that this would be enough?
We dont have children but would not (and could not) have done this with them.
What you are proposing is a tall order but possible with the right property in the right area. There are lots of people out there failing. It doesnt mean that you will.
Good luck
Thank-you for pointing out about the partners of the crafters, or the "non-crafters" as I'd call them I had considered pricing for them, and how to re-shuffle bedroom furniture but not what they would actually do...I was hoping they would be happy just relaxing in the gite, or they would have a car and would go and visit local towns.
Where we are planning on buying is very touristy with lots to do.
No, £15'000 wouldn't be enough but on top of my income from the children books it would be more than enough, especially as we would be mortgage free.
Why would you not have considered doing it with children? Is it simply because of the work load?
Lots of helpful stuff here, thank-you!!