Airbnb Business Plan Template

Airbnb Business Plan

You’ve come to the right place to create your Airbnb business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Airbnb businesses.

Below is a template to help you create each section of your Airbnb business plan.

Executive Summary

Business Overview

Fun Family Vacation Rentals is a startup AirBnB company based in Kissimmee, Florida. The company is founded by Mark Martinez, an experienced vacation rental manager who has amassed millions of dollars for other vacation rental owners over ten years while working at Sunny City Vacation Rentals in Orlando, Florida. Now that Mark has garnered a positive reputation of securing high net profits for other rental owners, he is ready to start his AirBnB business renting out properties of his own. Mark is confident that his ability to effectively manage rental properties and customer relationships will help him to quickly acquire new customers who are looking for a fun AirBnB option for their family vacations. Mark plans on recruiting a team of highly qualified professionals to help manage the day to day complexities of AirBnB rentals – marketing, renting, financial reporting, maintenance, and fee collection.

Fun Family Vacation Rentals will provide a comprehensive array of services and amenities for all guests at each of its properties. Fun Family will be a home away from home for families vacationing in the Kissimmee area, with each property being fully equipped with household essentials to ensure every guest’s needs are being met. Fun Family Vacation Rentals will be the ultimate AirBnB choice in Kissimmee for being family and pet friendly, providing top notch customer service, and having management nearby at all times to efficiently handle any issues that come up.

 

Product Offering

The following are the amenities and services that Fun Family Vacation Rentals will provide for each of its AirBnB properties:

  • Guest communication and support
  • Cleaning and maintenance
  • Advice on local attractions
  • Swimming pool
  • WiFi
  • Washer and dryer
  • Basic household essentials:
    • Soap
    • Toilet paper
    • Waste baskets/bags
    • Towels
    • Linens and pillows
  • Kitchen stocked with cookware and utensils
  • Bowls for pet food
  • Extra cleaning supplies
  • Crib and high chair for small children and babies
  • Smart Technology security system

 

Customer Focus

Fun Family Vacation Rentals will target all vacationers in Kissimmee, Florida. Fun Family will target vacationers looking for comfortable and affordable AirBnB options near all of Florida’s best theme parks and tourist attractions. The company will target families with children and people with pets. No matter the guest, Fun Family Vacation Rentals will deliver the best communication, customer service, and amenities.

 

Management Team

Fun Family Vacation Rentals will be owned and operated by Mark Martinez. He recruited an experienced office administrator, Anthony Miller, to be the Office Manager and help run the day-to-day operations of the business.

Mark Martinez is a graduate of the University of Florida with a Bachelor’s degree in Business Administration. He has been working at a local vacation rental company for over a decade as a property manager.

Anthony Miller has been an office administrator at a local AirBnB management company for over eight years. Mark relies strongly on Anthony’s diligence, attention to detail, and focus when organizing the logistics of properties, schedules, and guests’ requirements. Anthony has worked in the vacation rental industry for so long, he understands all aspects required in managing a successful AirBnB.

 

Success Factors

Fun Family Vacation Rentals will be able to achieve success by offering the following competitive advantages:

  • Friendly, knowledgeable, and highly qualified team of property managers and guest relations associates who are able to handle all customer requests with care and efficiency.
  • Comprehensive menu of services and amenities that allow for each guest to enjoy their stay without having to worry about whether they’ve packed everything they need or the hassle of searching for family-friendly accommodations.
  • Fun Family Vacation Rentals offers the best pricing for the value. All of the company’s AirBnB properties are rented at competitive prices.


Financial Highlights

Fun Family Vacation Rentals is seeking $800,000 in debt financing to launch its AirBnB business. The funding will be dedicated towards purchasing a third rental property (the owner already owns two properties that will be used for the business). Funding will also be dedicated towards renovating, cleaning, and stocking each unit with essentials and supplies. Additional funding will go towards insurance, marketing expenses, and three months of overhead costs to include payroll of the staff and rent for the main office. The breakout of the funding is below:

  • Property purchase: $600,000
  • Renovations, cleaning, furnishing, and supplies for three units: $90,000
  • Three months of overhead expenses (payroll, rent, utilities): $90,000
  • Marketing costs: $10,000
  • Working capital: $10,000

 

The following graph below outlines the pro forma financial projections for Fun Family Vacation Rentals.

 

Company Overview

Who is Fun Family Vacation Rentals?

Fun Family Vacation Rentals is a newly established AirBnB company in Kissimmee, Florida. Fun Family Vacation Rentals will be the most reliable, cost-effective, and efficient choice for guests in Kissimmee and the surrounding areas. Fun Family will provide a comprehensive menu of vacation rental services and amenities geared towards families and people with pets. The company’s full-service approach includes daily housekeeping and on-call maintenance, personalized amenities and accommodations, and family and pet friendly premises.

Fun Family Vacation Rentals will be able to manage all guest requests and requirements to ensure each customer’s stay is memorable, fun, and free of any hassle. The team of professionals are highly qualified and experienced in customer service, concierge accomodations, and guest relations. Fun Family Vacation Rentals removes all headaches and issues of the guest and ensures all issues are taken care off expeditiously while delivering the best customer service.


Fun Family Vacation Rentals History

Fun Family is owned and operated by Mark Martinez, a former vacation rental manager who has a Business Administration degree from the University of Florida. Mark has worked for a large vacation rental company and managed a large portfolio of AirBnB properties in Florida. Mark’s tenure with the vacation rental company has given him the skills and knowledge required to start his own AirBnB management company. Mark has begun readying his two owned rental properties for the first guests and looking for a third property to purchase.

Since incorporation, Fun Family Vacation Rentals has achieved the following milestones:

  • Registered Fun Family Vacation Rentals, LLC to transact business in the state of Florida.
  • Has a contract in place to lease an office space in a centrally located business park that is walking distance to both of Mark’s rentals.
  • Began recruiting a staff of accountants, maintenance workers, guest relations associates, and office personnel to work at Fun Family Vacation Rentals.
  • Has reached out to local cleaning companies to compare rates for ongoing cleaning services for the properties.

 

Fun Family Vacation Rentals Services

The following are the services and amenities that Fun Family Vacation Rentals will provide for each of its AirBnB properties:

  • Guest communication and support
  • Cleaning and maintenance
  • Advice on local attractions
  • Swimming pool
  • WiFi
  • Washer and dryer
  • Basic household essentials:
    • Soap
    • Toilet paper
    • Waste baskets/bags
    • Towels
    • Linens and pillows
  • Kitchen stocked with cookware and utensils
  • Bowls for pet food
  • Extra cleaning supplies
  • Crib and high chair for small children and babies
  • Smart Technology security system

 

Industry Analysis

The market for vacation rentals is forecasted to grow at a compound annual growth rate (CAGR) of 15.5% from 2021-2016, reaching an estimated USD $168B by the end of 2026. The rebound in tourism after the pandemic combined with the growing popularity of short term rental homes versus hotels or other vacation accommodation options is a driving factor for overall market growth in the United States.

Market trends in the vacation rental industry include business/leisure tourists, longer stays, and an increase in families vacationing together over the holidays. The average number of stays that are between 21-30 days long have increased significantly in 2021 with families staying an average of 68% longer than in previous years. A growing number of families are also looking for pet-friendly options, with 70% being pet owners and 68% traveling with their pets. Industry operators can maintain a competitive advantage by equipping their rental properties with the latest technology, unique amenities, and family/pet-friendly environments.


Customer Analysis

Demographic Profile of Target Market

Fun Family Vacation Rentals will target all vacationers in Kissimmee, Florida. Fun Family will target vacationers looking for comfortable and affordable AirBnB options near all of Florida’s best theme parks and tourist attractions. The company will target families with children and people with pets.

The precise demographics for Kissimmee, Florida are:

 

 TotalPercent
    Total population1,680,988100%
        Male838,67549.9%
        Female842,31350.1%
        20 to 24 years114,8726.8%
        25 to 34 years273,58816.3%
        35 to 44 years235,94614.0%
        45 to 54 years210,25612.5%
        55 to 59 years105,0576.2%
        60 to 64 years87,4845.2%
        65 to 74 years116,8787.0%
        75 to 84 years52,5243.1%

 

Customer Segmentation

Fun Family will primarily target the following customer profiles:

  • Families with children
  • People looking for pet-friendly destinations
  • People looking for affordable rentals close to Florida theme parks and attractions
  • People looking for an Airbnb experience with all of the comforts and conveniences of home


Competitive Analysis

Direct and Indirect Competitors

Fun Family Vacation Rentals will face competition from other companies with similar business profiles. A description of each competitor company is below.

Rent Kissimmee

Rent Kissimmee is a vacation rental business with multiple properties available in Kissimmee, Florida. Located near key tourist attractions and resorts, Rent Kissimmee offers the most conveniently located properties in the area. The company provides transportation to and from the airport, theme parks, water parks, and resorts. The extensive list of services includes concierge, transportation, event tickets, contactless check-in, and daily housekeeping.

Rent Kissimmee’s promise is to deliver the best customer service with honesty and integrity, and 24/7 availability of the management team. Rent Kissimmee’s team of experienced professionals assures the properties are in perfect condition, ensuring each guest’s stay is perfect.

Florida’s Best AirBnB

Florida’s Best AirBnB is a Kissimmee-based vacation rental company that provides outstanding customer service for all of its guests. Florida’s Best AirBnB takes the risk out of renting a vacation home by providing the best properties at the lowest prices. The company provides a full suite of amenities and add-ons like WiFi, housekeeping, swimming pool, board games, full-stocked kitchen and bathrooms, and washer/dryer combos in all homes. The owners of Florida’s Best AirBnB are property management professionals so they understand how vacation rentals should be maintained and managed. Guests can depend on personalized services and knowledgeable concierge staff that can provide expert advice on local attractions, restaurants, and events. By choosing Florida’s Best AirBnB for your next vacation, you can rest assured you will have a fun and relaxing stay without the hassle of dealing with the issues that can come with substandard property management.

Best For Pets Rentals

Best For Pets Rentals is a trusted Kissimmee vacation rental company that provides superior service to tourists and vacationers in Kissimmee and the surrounding areas. Best For Pets Rentals is the number one choice for families looking to bring their pets with them on vacation. Most types of pets are welcome at all of the company’s properties including dogs, cats, rabbits, other small mammals, and birds. Best for Pets Rentals has staff experienced in pet care who can pet-sit for you while you and your family are out at the theme parks.


Competitive Advantage

Fun Family Vacation Rentals will be able to offer the following advantages over their competition:

  • Friendly, knowledgeable, and highly qualified team of guest relations managers who will be able to guarantee all properties are in exceptional condition and all guest requests are met with care and efficiency.
  • Comprehensive menu of services and family-friendly amenities so each guest can enjoy a comfortable and memorable experience without all the hassle associated with planning a vacation.
  • Fun Family Vacation Rentals offers the best prices for the value compared to similar companies in the area.

 

Marketing Plan

Brand & Value Proposition

Fun Family Vacation Rentals will offer the unique value proposition to its guests:

  • Highly-qualified team of skilled employees that is able to provide a comprehensive set of services (housekeeping, advice on local attractions, fully stocked kitchen, family and pet accommodations).
  • Family and pet-friendly vacation homes and amenities (swimming pools, dog park nearby, WiFi, household essentials).

 

Promotions Strategy

The promotions strategy for Fun Family Vacation Rentals is as follows:

Social Media Marketing

The company will maintain an active presence on social media platforms including LinkedIn, YouTube, Twitter, Facebook, TikTok, and Instagram. The goal of the social media marketing strategy will be to grow the company’s customer base through low-cost user engagement.

Professional Associations and Networking

Fun Family Vacation Rentals will become a member of professional associations such as theVacation Rental Management Association (VRMA), Florida Vacation Rental Managers Association, and VRM Intel. The company will focus networking efforts on expanding  its customer network.

Print Advertising

Fun Family Vacation Rentals will invest in professionally designed print ads to display in programs or flyers at industry networking events, and tourism publications.

Website/SEO Marketing

Fun Family Vacation Rentals will create and maintain an attractive website that will be well organized, informative, and list all services and amenities available at each property.

The company’s in-house marketing director will manage Fun Family’s website presence with SEO marketing tactics so that when someone searches for “Kissimmee vacation homes” or “vacation homes near me”, Fun Family Vacation Rentals will be listed at the top of the search results.

 

Pricing

The pricing of Fun Family Vacation Rentals will be moderate and on par with competitors so customers feel they receive value when choosing the company for their vacation.


Operations Plan

The following will be the operations plan for Fun Family Vacation Rentals.

Operation Functions:

  • Mark Martinez will be the Owner and President of the company. He will oversee all staff and manage client relations. Mark has spent the past year recruiting the following staff:
  • Anthony Miller – Office Manager who will manage the office administration, guest files, and accounts payable.
  • Sandra Smith – Staff Accountant will provide all accounting, tax payments, and monthly financial reporting for the company.
  • Christopher Rodriguez – Marketing Director who will carry out all marketing and sales activities.
  • Michaela Williams – Maintenance Director who will oversee all maintenance and housekeeping at the properties.


Milestones:

Fun Family Vacation Rentals will have the following milestones complete in the next six months.

9/1/2022 – Finalize contract to lease office space

9/15/2022 – Finalize personnel and staff employment contracts for the management team

10/1/2022 – Purchase third property to add to the small inventory of homes

10/15/2022 – Begin networking at industry events and implement the marketing plan

10/22/2022 – Begin moving into Fun Family Vacation Rentals office

11/1/2022 – Fun Family Vacation Rentals opens for business

 

Management Team

Fun Family Vacation Rentals will be owned and operated by Mark Martinez. He has recruited an experienced office administrator, Anthony Miller, to be the Office Manager and help run the day-to-day operations of the business.

Mark Martinez is a graduate of the University of Florida with a Bachelor’s degree in Business Administration. He has been working at a local vacation rental company for over a decade as a property manager.

Anthony Miller has been an office administrator at a local AirBnB management company for over eight years. Mark relies strongly on Anthony’s diligence, attention to detail, and focus when organizing the logistics of properties, schedules, and guests’ requirements. Anthony has worked in the vacation rental industry for so long, he understands all aspects required in managing a successful AirBnB.


Financial Plan

Key Revenue & Costs

The revenue drivers for Fun Family Vacation Rentals are the vacation rental fees they will charge to the guests for their AirBnB rentals and fees for additional services and add-ons. Fun Family will charge an average of $150 per night for each of its units. This price will vary depending on the season, increasing during high demand periods and decreasing during slow periods.

The cost drivers will be the overhead costs required in order to staff a vacation rental office. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

 

Funding Requirements and Use of Funds

Fun Family Vacation Rentals is seeking $800,000 in debt financing to launch its AirBnB business. The funding will be dedicated towards purchasing a third rental property (the owner already owns two properties that will be used for the business). Funding will also be dedicated towards renovating, cleaning, and stocking each unit with essentials and supplies. Additional funding will go towards insurance, marketing expenses, and three months of overhead costs to include payroll of the staff and rent for the main office. The breakout of the funding is below:

  • Property purchase: $600,000
  • Renovations, cleaning, furnishing, and supplies for three units: $90,000
  • Three months of overhead expenses (payroll, rent, utilities): $90,000
  • Marketing costs: $10,000
  • Working capital: $10,000


Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Average occupancy rate of each unit per month: 62%
  • Average fees per month: $9,000
  • Office lease per year: $100,000

 

Airbnb Business Plan FAQs

An Airbnb business plan is a plan to start and/or grow your Airbnb business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Airbnb business plan using our Airbnb Business Plan Template here.

There are a number of different kinds of Airbnb businesses, some examples include: Home Rentals, Shared Rooms, and Attached Properties.

Airbnb businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

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