How to Make a Hosting Business Plan | How to Host | Airbnb

How to Make a Hosting Business Plan | How to Host | Airbnb

(upbeat music) – Hi I’m Nick. – And I’m Sarah. – We’re nestrs. – And we’re hosts in Columbus, Ohio. – Since 2012, we’ve been building, renovating, designing, redesigning, organizing, investing,
and developing our way to a sustainable Airbnb business. We’re sharing our tips with you to help turn your listing into profit. – Here’s how to make an
Airbnb business plan. – [Nick] You wanna treat
hosting like a small business which means starting with
a simple mission statement. (paper crumpling) Your mission statement
will shape how you operate and the experiences you deliver to your guests.
(bell dinging) (otherwordly beeping) – [Sarah] For us, we
wanna transform spaces that transform lives.
(angelic notes echoing) (bubbles popping) – [Nick] Anything you can
do to elevate your listing or make it unique is a chance to charge more in your market. Search real estate sites. Explore what other Airbnb
hosts, comparable homes, and local hotels have to offer. (air whooshing) Do they use dynamic pricing
to change their rates on weekends versus weekdays? – The initial research will help you make the right decisions. (happy video game beeping) – [Nick] Tally your costs
by creating a spreadsheet of expenses which can be
divided into three categories. One, upfront costs, which are the things you’d
invest into your space before anyone experienced it. (air whooshing) Renovations, decor,
furniture, photography. – [Sarah] Two. Ongoing costs, which
includes the items consumable by the guests that
you’ll need to replenish. Toilet paper, towels, light bulbs, cleaning supplies, et cetera. – [Nick] Three. Management and maintenance costs. (air whooshing) Think cleaning fees, management fees or exterior and lawn upkeep. Add up your numbers and make
sure they make sense to you. (beeping)
(clicking) – [Sarah] This is my favorite tip. I always tell people to
invite a blunt, honest friend or family member
to pack an overnight bag and stay at your listing
to get honest feedback. (hinge squeaking) You’re so close to your space, day in and day out.
(clicking) You don’t want a paying guest
to tell you about the thing you’re missing or the quirk
that you don’t think about. – [Nick] Enlisting a friend
will help you anticipate guest needs they may forget, whether that’s an extra
toothbrush, soap, extra pillow. How can you make them feel
as welcome as possible? (bell dinging) (robotic whirring) (upbeat music)
When you’re just starting out, it’s important that you
learn all the ins and outs of the hosting process. (broom scratching) – Do the cleaning yourself, do the turn around so you understand it. Then, you can automate the process.
(laughing) For example, there are apps that allow you to create event triggers. (bell dinging) When you get an Airbnb
booking confirmation email it’ll trigger a calendar event to whoever is cleaning your place. – [Nick] There are smart locks
which are really wonderful. Guests can check in on their own and they’ll automatically be sent a code that lasts until the end of their stay. We hope these tips help you and your Airbnb business flourish. – If you need more advice,
you can always find us. – [Nick] I’m Nick. – [Sarah] I’m Sarah, and
we’re hosts in Columbus, Ohio. Happy hosting.
– Happy nesting. (laughing)

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About the Author: Oren Garnes


  1. Nice. As for the 'inviting a straight talking friend', I think you can be your own worst critic easily. So pack that overnight bag yourself and stay in your own place, it's quite amazing (and sometimes a little silly) what things you can forget about unless you actually stay in a place. A bottle opener, a trash bin in the bathroom, those kinds of things. BTW, I'm not a fan of number locks to let guests self-check in. Yes that's useful when someone shows up at 3am, but for most people it's good to greet them in person, if you can. Just saying hello, answering some questions, recommend some places a guest is looking for, book a trip or tour for them, etc. People are very likely to rate you 5 stars if they met you and like you. (Unless they don't understand the star system; it often helps to explain that 4 stars is not good at all and will hurt your standing. In fact if listings drop to 4 stars on average then AirBnB will start disabling a listing until improvements are made. Many guests don't realize and think they're being fair and nice with a 4 star review. They just go 'well this place was about the same experience as a nice 4 star hotel, we had a great stay, you were super helpful, here are 4 stars.' They think they're being nice but actually they're ruining your day and it's because the AirBnB site doesn't make this clear to guests at all. This is why it helps to meet them at check-out too: Because you can get useful feedback they might not write in a review, plus if they've already told you about an inconvenience in person they're less likely to also write it in the review, plus you can tell them "wow you were great guests, I'll leave you a 5 star review!" (when people know they're getting 5 stars they'll feel inclined to reciprocate) and in some cases you can just bluntly tell them that listings with 4 star averages get closed down, so every 5 star review helps.

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