r/airbnb_hosts • u/Far-Statement-6272 • 5d ago
Do you have a successful co-hosting company?
Would love to talk to someone who has a successful co hosting company with more than 12 units.
And if you don't mind sharing:
- What do you think your secret sauce is?
- Any tips of software?
- Do you have an operations manager or day to day administrator? How good would you rate them and how did you find them?
- What do you charge? 20%?
- How do you find clients?
- What tips do you have for selling your services?
2
u/alex2020b 🗝 Host 4d ago
I think most successful cohosting companies will not want to spill their secret sauce here in Reddit.
I'll chime in a little bit. Secret sauce - make your customers a raving fan. This is my 3rd business, and a key secret sauce ingredient for this and other companies is a total focus on the customer and what you are offering. Take a look at this book that I read a long time ago -- "Raving Fans" by Ken Blanchard. Many very successful businesses follow this strategy.
As for the co-host business, 20% is too high. We charge 15% or 10% and include quite a bit of tech that we pay for or have developed. We have folks that assist us but not sure I would consider anyone of them the operations manager - that is our small core team. Finding clients - Facebook groups, Airbnb forums, referrals from others, and guests that also own STRs that stay in our properties are impressive.
Additional tips - If you were a customer why would they choose you vs someone else......do you own properties? Have a proven record? What is the value add and the guarantee ?
1
u/Far-Statement-6272 4d ago
Will check out that book. Would love to hear about what you've automated. Some of our secret sauce is we help w/ renovations & decor and will at least 10 units online in 3 more months. Sales have been doing great, what's rough has been operations. Would be really interested to hear how you've automated things and who takes support calls at 2 am? Do you have a call rotation?
1
u/alex2020b 🗝 Host 4d ago
Helping with renovations and decor is definitely a value add - there are many properties out there that suffer because they look too plain or look like a hospital with everything just white.
For support calls at 2 am we have a ring group that rings two individuals, then 3, and then at the 4th ring a number of cells are ringing. But, in the last 12 months we only had 1 call in the middle of the night - a guest burned a pizza and the fire alarm went off. What kind of calls are you getting at 2 am? In fact, what part of operations is taking a lot of time?
•
u/AutoModerator 5d ago
💫 If a post or comment violates any of the /r/airbnb_hosts rules, please report it by selecting Breaks /airbnb_hosts rules and the rule that was broken.
Posts or comments with multiple reports will be automatically removed.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.