In this technology-driven world, entrepreneurs can quickly launch their business and can easily reach their audience with a RentALL marketplace. But Choosing the right RentALL marketplace idea will lead to a successful business.
There are many RentALL marketplace platforms available in the market. But still, Airbnb ranks top because of its constant feature update which benefits both host and guest. Most of the entrepreneurs are showing a huge interest in Airbnb because of its success. By seeing the successful business model for all RentALL platforms, many entrepreneurs are wishing to start an Airbnb as a business. I would advise them that doesn’t just compete with Airbnb. Instead, you should create your own target market with the best Airbnb clone RentALL.
Table of Contents
Now let us see the reason for success.
- Live like a local
- More space for less money
- One on one interaction
- Priceless amenities
What is Airbnb?
Airbnb is an online RentALL business platform that stands for air, bed and breakfast. It connects people who want to rent out their homes, bike, car, equipment, event venue, boat, etc. it currently covers more than 81,000 cities and 191 countries worldwide.
Airbnb acts as an intermediary for host and guest. By using this platform, the host can list their space and make money from it. It also empowers the guest to decide according to their needs and requirements.
Airbnb provides many business opportunities in today’s world. Just Have a look,
Lucrative business ideas
Past, present and future, there is a space for RentALLs. A simple move of sharing unused space, bike, car, boat, equipment, event venue, etc. By using business ideas, one can be benefited by rental service and others can be benefitted by money.
The scope of the RentALL business is widespread with its flexible business model. let me share with you some lucrative business ideas,
- Vacation RentALL business
- Boat RentALL business
- Bike RentALL business
- Car RentALL business
- Equipment RentALL business
- Event venue business
This is the apt time to see in detail how these business ideas are helping in business and earning revenue,
Airbnb for Car rental
The technology has enormous growth and people are preferring car rentals nowadays. So the future of car rental is digitized.
Now let us see the working model,
Businesses like Airbnb offer a platform where you can easily rent your vehicle. The implicit of online business of car is made from a car owner who charges a fee to rent out their vehicle using this platform.
Car renting platform helps people to connect with car owners across the globe.
- Finding a car for the ride
- Contacting car owner or lister
- Booking the ride
- Paying for the ride
Airbnb for Boat
Business on boat renting is a profitable business because of its demand and reach to the audience.
How does it work?
- It offers an easy way for boat owners to rent out their boat and for boat renters to find the best boat in a great location.
- Boat owners can list their boats for free and control all terms of the rentals with an easy to manage the online system.
- Boat renters can easily search by location for the perfect boat in their preferred location and book online in just a few clicks.
Airbnb for Equipment rental
In our day to day life, people do use various tools for every different chore. So it is essential to use many kinds of stuff but it is impossible to own all kinds of equipment. This business yields a high profit to many people. Hence it is emerged into the online market and conquering as one of the rapidly growing businesses in the industry.
The equipment rental involves three types of users,
- Equipment owner
- Equipment rentals
- The verified owners can list their equipment rentals with the specification of the given criteria. The owner should fix the rental rate and can also use any premium options.
- The renters can search their tools according to their requirements. They can get it by sending the rent request to the owners and can check the availability of tools in that area
- The rent booking and payment transaction can be regulated by the admin.
How Airbnb earns revenue?
It involves three types of users like host, guest and admin. It charges both host and guest. This business model earns revenue only by two following method,
Commission from hosts/owner
Whenever the booking is happening through the platform, they will receive 10% commission from the host. The host will also be charged 3% commission to cover the cost of things like processing payments, running the site.
Exchange charge from travellers/guest
For each booking, 6-12% of booking sum is charged from traveller spending on the booking. This is non-refundable. Guest get the benefits of 24hour support in return of that charge.
As we have reached the end of the article, I hope you have found how Airbnb business model is used up in different industries.
Leave your comments below if you have any queries.