Bed & Breakfast Blooms With U of A Small Business Development Center Support
When Pennsylvanians Anthony and David Price Riccadonna pondered a major life change, they never imagined how quickly their dreams would materialize. Following an informative seminar on the business of running a bed & breakfast, the couple began exploring options for either a B&B or an upscale campground. Their search spanned several states, but one opportunity in particular caught their attention — The Woods Cabins in Eureka Springs.
Neither Anthony nor David had ever set foot in "The Natural State" or visited Eureka Springs before. Taking a leap of faith, they traveled to Arkansas, stayed on the property and quickly realized they had found their perfect match. The Woods Cabins checked all their important boxes, especially regarding the business' accounting practices with detailed financial data.
The couple wasn't navigating this major life transition alone. Having previously worked with the Small Business Development Center at Duquesne University in Pittsburgh, they knew the value of expert guidance. They reached out to the Arkansas Small Business and Technology Development Center (ASBTDC) at the U of A, where center Director Mary Beth Brooks provided invaluable assistance.
"Mary Beth's extensive knowledge has been a huge asset to me in understanding the proper process moving forward with acquiring an existing business," David explained. "Her knowledge of financial information, the B&B industry, as well as the location has been extremely helpful."
Brooks assisted the couple with comprehensive market research and analysis on the business valuation, helped them develop financial projections, craft a business plan and inventory the property's assets. She also connected the entrepreneurs with Cornerstone Bank in Eureka Springs, facilitating a successful loan transaction.
"Her help was amazing in getting to each step," David remarked. "Mary Beth helped us get there quicker, in six weeks!"
The timeline accelerated even further when their Pittsburgh home sold in just one day, with the new owners requiring almost immediate occupancy. Suddenly, Anthony and David found themselves on an unexpectedly fast-paced timeline for their move to Eureka Springs. Both agree they couldn't have navigated the process as smoothly or quickly without Brooks and the ASBTDC team.
The couple brought complementary skills to their new venture: Anthony's background in hospitality paired perfectly with David's expertise in technology. They immediately implemented various improvements, including an upgraded website, new logo and refreshed signage.
The Woods Cabins offer a unique getaway experience. The property is private and secluded yet conveniently close to town. Each mountaintop cabin has its own distinctive characteristics, featuring comfortable porches, cozy gas fireplaces and private parking. A tumbling 15-foot waterfall adds a touch of natural splendor to the property.
Guests at The Woods Cabins enjoy premium amenities, including high-speed internet, Natura Green bath products and special check-in and check-out treats. The owners prioritize cleanliness and healthy spaces throughout the property.
As dog lovers themselves, Anthony and David have made The Woods Cabins pet-friendly, welcoming dogs up to 50 pounds. Each canine guest receives a special treat dish filled with locally crafted dog treats.
The new owners take pride in creating personalized experiences for their guests, offering special packages for weekday getaways, anniversaries and even weddings, ensuring every stay becomes a cherished memory.
For Anthony and David Price Riccadonna, what began as a tentative exploration of a new business venture quickly transformed into a life-changing journey from Pennsylvania to Arkansas — proof that sometimes the most rewarding adventures begin with a single seminar and the courage to embrace the unexpected.
The Woods Cabins are located at 50 Wall St., Eureka Springs.
Contacts
Julie Preddy, director of communications & events
Small Business Development Center
479-575-5148, jpreddy@uark.edu