Small Business in Paradise: Working for Yourself in a Place You Love

Table of Contents......Page 9
1. The Dream’s Not Always the Same......Page 13
A Road Map to Turning Your Dream Into Reality......Page 16
2. The Bed and Breakfast Biz......Page 19
Is a B&B Suited to You?......Page 21
Love, Work, and a B&B......Page 22
Buy It, Build It, Flip It......Page 30
Tips for Opening a B&B......Page 34
3. A Tale of Three Wineries......Page 39
David Coffaro: Start by Growing the Best Grapes......Page 42
Talty Vineyards: Make the Best Wine......Page 49
Dutcher Crossing: Buy the Best of Everything......Page 54
Tips for Opening Your Winery......Page 57
4. When Paradise Calls......Page 63
Someone Else’s Dream … Your Paradise......Page 64
Social Marketing as a Career......Page 68
Part-Time Paradise......Page 73
Tips for Would-Be Entrepreneurs......Page 76
5. Taking Passion to Paradise......Page 79
Ginger and Her Garden of Eden......Page 80
A Board, a Wave, a Surf Shop......Page 85
Japanese Art—In a California Fishing Village?......Page 87
A Photographer’s Passion......Page 90
Passion Into Paradise: Key Points......Page 96
6. Turn Your Dream Into Reality: Ten Steps for Getting Started......Page 99
Make Sure the Business Fits You, and You Fit the Business......Page 101
Check With Those Closest to You......Page 104
Scout the Territory......Page 107
Gauge Market Demand and Check Out the Competition......Page 108
Estimate Your Start-Up Costs......Page 110
Do a Break-Even Analysis......Page 113
Write a Business Plan—Really......Page 114
Consider Your Financing......Page 117
Have a “Plan B”......Page 119
Get Your Current House in Order......Page 120
7. Finding the Right Spot in Paradise......Page 123
Pick Your Paradise......Page 124
Should You Own or Lease?......Page 129
Creating a Priorities Checklist......Page 131
Starting the Search......Page 132
Negotiating a Lease......Page 133
8. A Business for All (or Most) Seasons......Page 139
Knowing Your Seasons......Page 140
Creating Your Plan......Page 142
Product and Service Planning......Page 144
Seasonal Promotions......Page 145
Managing Inventory......Page 146
Create an Off-Season Business......Page 147
Make Use of the Off Season......Page 148
9. Staffing Paradise......Page 151
The Seasonal Workforce......Page 154
Hiring and Keeping a Year-Round Staff......Page 159
10. Marketing and Promoting Your Business in Paradise......Page 165
About Marketing and Sales......Page 166
Crafting Your Marketing Plan......Page 167
Building Public Relations......Page 173
Generating Referrals......Page 178
11. Get Involved With the Community......Page 181
From Ski Shop Owner to Community Leader......Page 184
Get Involved With Charities......Page 186
Build Relationships With Local Companies and Their Employees......Page 187
Get Involved in Government and Politics......Page 188
Join Social and Business Clubs......Page 189
Host and Sponsor Events and Seminars......Page 191
Don’t Just Join … Lead!......Page 194
12. Even in Paradise—An Overview of Legal and Tax Issues......Page 197
The Right Attitude......Page 201
Buying a Business Versus Starting From Scratch......Page 202
Decide on Your Business Structure......Page 205
Registrations, Licenses, and Permits......Page 210
Tax Reporting Basics......Page 212
Workplace Laws and Regulations......Page 216
Contracts and Legal Disputes......Page 217
Hiring Professional Help......Page 219
13. A Life Plan, a Financial Plan, and a Small Business in Paradise......Page 221
Your Piece of the Pie......Page 222
Your Financial Plan......Page 224
Managing Risk in Your Overall Financial Plan......Page 225
Managing Specific Business Risks......Page 227
Retirement Planning......Page 232
Boost Your Chance at Happiness......Page 234
14. All Hail Jimmy Buffett......Page 235
Index......Page 239