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Fueled by growing consumer demand for travel options beyond the typical hotel, car rental, and touring companies and more convenient and affordable ways to travel, the business of travel hosting is taking off at full speed. This step-by-step guide tells travel enthusiasts and aspiring entrepreneurs how to make sure they’re not left behind.
Armed with a detailed overview of the travel hosting industry including how it differs from other travel businesses, today's and tomorrow’s trends, important research and statistics, and more, entrepreneurial globetrotters gain insight into industry growth drivers and opportunities.
Covering behind-the-scenes business models of businesses like Air Bnb, VRBO, and Homeaway, the experts of Entrepreneur help new entrepreneurs determine their best business approach assessing what they need to startup, expected expenses, the market, and competition.
Coached by practicing entrepreneurs, aspiring business owners are also given first-hand insight with tales from the trenches including advice and tips on unique considerations within the travel business, and important lessons in planning for the long term.
The how-to provided is supported with worksheets, samples, and resource lists.
For more than 30 years, Entrepreneur Media, Inc. has set the course for success for millions of entrepreneurs and small business owners. Based in Irvine, CA, Entrepreneur teaches readers the secrets of the winners and gives them exactly what they need to lay the groundwork for success.
Table of Contents
Chapter 1 Airbnb Has Changed the Way People Travel What is Airbnb and other businesses like it? How the service works. What is a travel host, and how can someone generate an income from it? What you need to get started. Consider the safety and comfort of your family, pets, and property. Overcome the biggest misconceptions travelers and potential hosts have about Airbnb and other hosting businesses. Benefits of becoming a travel host.
Chapter 2 Get Started as a Host Deciding what you’ll offer. Creating an account and listing. Tips for composing an attention getting listing. How to attract the type of guests you want to interact with, and who share a similar lifestyle. Strategies for adding photography to your listing. Top 10 amenities you should offer that will allow you to increase your nightly rate. Promoting your listing and differentiating yourself from other hosts. Taxes and legal considerations relating to becoming a host. Insurance and security considerations. Expert tips for composing and publishing a property listing, as well as insurance and security tips will be provided.
Chapter 3 Preparing Your Property Decorating and furnishing your property. Creating a clean and comfortable living space. Setting limits as to what areas guests can use. Selecting the best selection of amenities to offer. Cleaning and preparing for guests. Choosing key entry door locks versus digital door locks with programmable codes. Other home security technologies worth investing in. Setting your nightly price, plus how and when you’ll be paid. Experts tips for preparing your property, decorating, choosing amenities to offer, and getting ready for guests.
Chapter 4 Establishing the Rules for Your Guests Creating a list of rules and expectations for guests staying at your property. Sample rules, and how to politely present them to your guests. Why rules and important, and how to enforce them. What to do when rules are broken or trust is tarnished.
Chapter 5 Best Practices for Communicating with Guests Managing reservations. Initial communications with potential guests via text messaging or email. An in-person welcome. Interacting with guests during their stay. Strategies for improving your interpersonal and social skills. How to offer additional customer service and amenities Offering advice or serving as a tour guide for guests Offering restaurant recommendations Spending social time with your guests Becoming knowledgeable about your city and what it offers to guests Expert tips and strategies from experienced travel hosts.
Chapter 6 How to Use the Airbnb Website and Mobile App as a Host Step-by-step directions for navigating the Airbnb.com website and how to utilize the online-based tools available for hosts. Step-by-step directions for using the Airbnb, Homeaway, or VRBO mobile app on a smartphone or tablet. How and where to obtain the assistance you need.
Chapter 7 How to Generate Extremely Positive Reviews and Repeat Guests How to generate the best possible reviews from your guests. Ways to generate repeat guests and positive word-of-mouth referrals. Pitfalls to avoid when dealing with complaints and problems with guests. Expert tips for avoiding the top pitfalls and problems many hosts encounter.
Chapter 8 Managing Your Money and Reinvesting in Your Hosting Business Additional tips for setting your nightly rate. Additional tips for maximizing your nightly rate, based on amenities provided, location, earned reviews, and demand. When and why it makes sense to reinvest income into your hosting business in order to acquire nicer furniture, higher-quality bedding, and improved guest amenities, so you can ultimately charge higher rates. Additional tax tips from a Certified Public Accountant.
Chapter 9 Other Related Services You Should Be Aware Of Information about Airbnb competitors and similar services, as well as the pros and cons of using them. Appendix A Directory of Resources