Airbnb Business Plan
Tracktown Townhome
Value Proposition
The Tracktown Townhome provides its guests with not just a comfortable stay, but a cultivated experience that highlights Eugene, Oregon’s rich track and field history through hands-on activities and amenities to infuse education and excitement for the local history.
The Problem
Hotels and rental properties in Eugene provide comfortable stays but are typically overpriced when sporting events and university functions are taking place. They also lack the details and amenities to entertain and educate the guests on the local area and its history.
The Solution
The Tracktown Townhome Airbnb is more than just an affordable and comfortable stay, providing historical hands-on learning experiences and exciting amenities and entertainment to make guests feel like track stars.
Target Market
The primary market for the Tracktown Townhome is young couples and families with active children interested in having an interactive vacation experience. The secondary target market is athletes and sports enthusiasts coming to Eugene for vacation or track events.
Young couples and families with active children are the primary target market:
They are physically active and want the opportunity to burn off some energy in the comfort of their Airbnb.
They have a strong interest in learning through hands-on experiences.
They are technologically savvy and would appreciate the opportunity to play around with devices in the rental unit.
There is an enthusiasm for sports and famous athletes.
They want the experience of learning and entertainment through their vacation to not end when at their Airbnb.
Competitors & Differentiation
Current Alternatives
Other rental spaces close to historic Hayward Field
A few local bed and breakfasts
One boutique hotel close to downtown
Several chain hotels with standard hotel amenities
Why Us?
The Tracktown Townhome Airbnb is not only a cozy stay in track-famous Eugene, Oregon but it offers hands-on experiences by providing gate-analysis treadmills, interactive track and field history lessons, and fun amenities for guests looking for a unique stay. The Tracktown Townhome is close enough to the university that renters can hear the crowd cheering and feel the ambiance of the sporting events while watching them from the comfort of the couch with the included TV and entertainment packages.
Funding Needs
The target property costs $400,000. The property will be purchased with 20% down plus closing costs. $10,000 in minor renovations are required. The estimated funding needed for furniture, kitchen outfitting, initial supplies, and initial funding of a “repair” fund is $25,000. The total initial funding needed is $120,000.
Sales Channels
Airbnb Website
Alternative Rental Websites
Travel Oregon site
Zillow
Instagram
Facebook
Marketing Activities
Instagram
Facebook
TikTok
Blogs
Financial Projections
Ongoing expenses will include internet, TV & streaming services, utilities, yard maintenance, contributions to a maintenance fund, loan payments, taxes, and insurance. Costs generated by guests will include cleaning, general maintenance, and a welcome gift. We estimate an initial 60% occupancy rate with average revenue of $300/night with modest growth in future years.
Revenue:
2022: $65,700
2023: $70,000
2024: $73,000
Expenses/Costs:
2022: $50,000
2023: $52,000
2024: $54,000
Profit:
2022: $15,700
2023: $18,000
2024: $19,000
Milestones
Obtain necessary permits and licenses — May 1, 2022
Finish renovations — June 1, 2022
Add furnishings and amenities — June 22, 2022
Take professional photos of the space — June 30, 2022
Create a website and social media accounts — July 1, 2022
Open for business — July 15, 2022
Review forecast — September 1, 2022
Incorporate Eugene Marathon event package — April 15, 2023
Hit 65% or higher occupancy rate — May-August, 2023
Renovate outdoor patio space — October 10, 2023
Team and Key Roles
Owner/Primary Host
Establishes the business and is in charge of overseeing the setup, fees, and long-term upkeep of Airbnb. Maintains day-to-day operations of the business including refilling amenities, tending to urgent maintenance requests, and handling communication with guests.
Cleaning/Maintenance Service
In charge of thoroughly cleaning and sanitizing the Airbnb between guests and reporting any damages or maintenance issues to the owner or primary host.
Partnerships & Resources
The purpose of these partnerships is to bring the historical theme of Tracktown USA throughout Eugene into the experience of the Tracktown Townhome. Partnering with these businesses will help create a more holistic experience while also providing exposure and support to local businesses throughout Eugene as well as a more curated experience for guests.
Eugene Running Company:Provide free video gait analysis and shoe fitting and recommendations
Tracktown Pizza:Exclusive discount for two medium pizzas
University of Oregon Track & Field:Discounted tickets to a UO track and field event
Nike Run Club:Provide tips and insights on running as well as an exclusive training program specific to running locations throughout Eugene
