How to start an Event Venue Rental Business Using Airbnb Clone Script ?
What is an event venue booking? and how it came as a successful business? well, a warm to all, here I am gonna discuss event venue business using Airbnb...
A few years back, Airbnb was New concept for tourists to rent out spaces. For the personal use of renting spaces from the internet, it took a long time to adapt to people. After the success of Airbnb's growth, everyone started booking spaces for their use. Today, Airbnb operates more than 82,000 cities and 193 countries in the world.
AIRBNB USERS IN UNITED STATES:
In the US, the number of Airbnb users (in millions) from 2016 to 2021. Statistical says, number of adults using Airbnb in the US was 29 million in the previous year and it increased by 35.9 million amount in 2017. The below figure represents the forecast of Airbnb's extends to about 46.9 million users in 2022.
Normally, the host has to take care of all tasks which guests assigned list for event decoration within a particular amount and time. That is really a stressful right?.. to conquer this problem, the event venue website is a solution that reduces host anxiety.
As an entrepreneur, you may have the following questions while starting an event venue rental business.
What is the event venue and does it make money?
The business model of event venue rental business?
Participator in event venue rental business
Top 5 events that make a huge profit
Source revenue of event venue rental business
5 Features of the event venue booking website that skyrocket your sales
Marketing strategies for successful event venue rental business
WHAT IS EVENT VENUE BUSINESS? AND DOES IT MAKE MONEY?
In short, the event venue is the rental business where the event like a meeting, shows and so on were takes place. For such popular events, a renter can rent their spaces on the website to earn a profit. In this business, the website owner takes a commission from the total amount and the rest of the amount can be transferred to the renter.
According to the report, the event industry producing $900 billion in business. Undoubtedly, the event venue business earning huge money in the market
THE BUSINESS MODEL OF EVENT VENUE RENTAL BUSINESS:
The host lists their event space for a specific period of time. It is easier for guests to find out space in online portals of basic business models. The major advantage of the business model is low investment, less peril, and profitable business.
The below flowchart represents the business model of the event venue booking website.
PARTICIPATOR IN EVENT VENUE RENTAL BUSINESS :
Participation in event venue booking website are Renter, customer, Admin
The online website portal helps the customer to apply space for a rental by using filters like location, sq ft design and so on.
According to customer preference, the website shows the result of spaces after filters did.
The customers can check the selected space of images, facilities, ratings, reviews, and videos from the search results.
Customers can book the space immediately or can fix the date of booking if the venue is available at the time.
In-venue page, the venue owner's contact information might be listed. In that, you can chat or call for any quires
The customer can pay an amount to the venue owner once the decision and quires are completed.
A renter can create a profile with venue information after sign up and also venue owner can add the details like location, capacity, model, name of the venue.
To make a decision with a customer, the owner can add image and videos for their renting venue
Customer response, booking request, reject, stock of product management by a renter
Website admin can manage the participation in marketing like creating coupons and offers for customer engagements
Manage reviews and ratings of a customer in the website and respond to hand over the remaining amount to Renter after taking a commission from the total money
TOP 5 EVENTS THAT MAKE A HUGE PROFIT :
1.Pet, modeling, parties and crafts shows
4.Conference venue for an entrepreneur
SOURCE REVENUE OF EVENT VENUE RENTAL BUSINESS :
Once the customer making a payment on the website. The website owner takes a commission from the total amount and the rest of the amount is transfer to the venue owner
Monthly and yearly fees can be asked by the website owner and the package can be modified according to website owner requirements.
When the website customer trying to book a venue at that time owner can sell the particular product in the website
The owner can include running ads in the website portal, but it shouldn’t affect the conversation rate of product
5.Rent your space for non- tradition events
6.Provide more offer and services for your loyal customers that would bring the third party as a customer
The below video explains How to Start Your Event Planning Business with No Money
5 FEATURES OF THE EVENT VENUE BOOKING WEBSITE THAT SKYROCKET YOUR SALES:
Integration of Google map:
User can know the exact location of the venue to book using Google map in the website portal
According to user preference, they can choose the filters option for best results before starting the searching venue on the website.
Multi-language and Multi-currency :
To host an event, customers might book in different countries so providing multi-language and currency is an added advantage for your website.
For an instant response, live chat is the best tool to communicate with the user. where new customers have a lot of quires regarding the venue so that they wanna communicate with the venue owner. This tool provides more conversion rate
Rating and Reviews :
Gather ratings and reviews from loyal customers which would build trust and comfortable for potential customers
HOW TO MARKET YOUR EVENT VENUE RENTAL FOR ULTIMATE BUSINESS SUCCESS:
1. In social media presence, can share the live videos of events in the event venue booking website
2. Venue owner can share venue details with high-quality image, caption and website link on Instagram
3. As I mentioned before, make a partnership with business people like an entrepreneur who are looking space for their meetings so that stay connect with professionals in Linkedin
4. In Google, a website owner can list their business in the first ranking of SEO which generates more leads from target customers
5. By making google ads and facebook ads, you can easily obtain attention from your targeted audience in a market
6.Create your business video for best engagements in youtube
Hence, the event venue website booking helps the user to book venues in an easier way without annoyance. Through this platform, users can gain more facilities like live chat, payment mode and so on.
After knowing these business models, instant revenue growth, target customers and features then why are you waiting for?
Interested? start your own event venue rental business using our exclusive Airbnb clone script or wanna development rental website with an application? Feel free to contact us
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