EP08: The Limited Edition Episode

The vacation rental industry has exploded in the last few years with big players. Big players like AirBnB, HomeAway & Booking.com have been rapidly consolidating the industry, creating an industry with more familiarity that’s palatable to the average consumer. But what does this mean for the “mom-and-pop” style businesses who don’t want to grow? Those who would rather create a small limited edition business infused with personality. In this round-table episode, we discuss the big picture history of the hospitality industry Andrew McConnell. We’ll learn how Kristie Wolfe creates and operates a boutique tiny home vacation rental business, and how Tara & Josh Conger walk the fine line of creating a scalable business while preserving their unique experiences.   Show Notes   Andrew McConnell Understanding the differences between commodity and limited edition vacation rentals How fragmented the vacation rental industry is Andrew McConnell discusses the history of the “cottage industry” How fragmented industries tend to consolidate What the “big players” in the hospitality industry did that the “small players” didn’t Building a lifestyle business versus a major venture backed business How the nature of vacation rentals is designed not to scale The hazards of being “stuck-in-the-middle” of a boutique personality based business versus a growing commodity business Discussing the potential winners and losers in the future of the industry Being unique versus pretending to be unique Being something to everyone, versus being everything to someone Kristie Wolfe On building and designing tiny-home vacation rentals Why Kristie prefers to not meet guests at her unique homes How Kristie designs unique experiences for her guests (that sometimes involve trespassing) Kristie’s unique advantage when building tiny homes Kristie’s advice on doing vacation rental projects that get you excited Tara & Josh Conger Creating a limited edition vacation rental company that can scale Having a private island as a vacation rental Building custom homes to be vacation rentals How Tara & Josh leverage concierge services Building a new website for the business Balancing the scaling of a business while maintaining a boutique personal touch Using CRM systems to improve guest experiences   Resources   Rent Responsibly (Sponsor) Andrew McConnell With Rented.com Steve Milo, Vacasa, Turnkey Kristie Wolfe - Tiny House on the Prairie Kristie Wolfe’s Hobbit Home Kristie Wolfe’s Tree House Conger Collection & Conger Brokerage Services   Lastly….   If you enjoyed this episode and would like to support us, please leave us a review and subscribe to us on iTunes (or whichever podcast platform you use). It makes a world of difference.     Learn more about the host, visit https://mattlandau.com/ Get marketing strategies for vacation rentals, visit https://www.vrmb.com/ Collaborate with other professionals in https://community.vrmb.com/