Snippet: in this post we look at Airbnb, how it makes money and how much it costs to build an Airbnb clone script.
What is Airbnb
We all know that Airbnb is a peer to peer service sharing platform. It allows people list their assets (homes or properties) and allow others to pay for such temporary living accommodation. All this is carried out online – via both web and mobile apps. Airbnb has turned the hospitality industry upside down ever since it broke through the market in 2008.
Not only the rooms and homes are affordable (some are expensive, we agree), but the whole transaction happens so seamlessly as well. We have a very interesting account of how transparent and open Airbnb is, and what entrepreneurs in the sharing economy can learn from Airbnb – check this detailed post – we are sure you will like it.
How Airbnb makes money
So, how does Airbnb make money? It brings service providers (property owners) and travelers (who seek temporary accommodation) on their platform, and collect a fee from both parties. Easy, right? Yes and no.
Much like Uber, if there weren’t enough taxis on the road, people won’t use Uber. And the other way round is true as well. If people don’t know about what Uber is, then drivers simply won’t sign up. This dilemma was the crux of Airbnb (long before Uber’s).
Airbnb had to bring a lot of properties on its platform – for that, it had to develop trust with property owners. Only then 1000s could come on-board. At the other end of the spectrum, Airbnb had to market itself so that you and I knew what Airbnb is. With effective marketing and a breakthrough value proposition – it won over both suppliers and consumers.
Today, Airbnb charges a nominal fee to hosts – for generating business for them, and levy booking or transactional charge fee to guests. With well over 4 million listings, and 150 million plus users, Airbnb has long achieved the economies of scale and is operating more efficiently than ever. Today, Airbnb faces challenges from its competitors who are successfully replicating its USP, and local governments who are getting tough with regulations. Even so, the company is well equipped with a great team lead by an intuitive leadership.
Is there room for more Airbnb like platforms?
Even in a global world, local challenges need localized solutions. This peer to peer platform, just like Airbnb, is disrupting markets in many developing economies – such as South East Asia. And it won’t stop there. If we just look at the hospitality industry alone, there is tremendous opportunity to serve new wave of first time travelers in the developing and the developed economies.
Air travel is getting more affordable as airlines need not pay the middle men to sell tickets. Today, most airline ticket booking happens on airline flagship sites. A platform like Airbnb creates a clutter free solution to rent anything, not just accommodations.
There are many companies who use the Airbnb clone scripts to rent parking spaces, coworking spaces, storage spaces, cars etc. The possibilities are endless.
What are the most important features an Airbnb clone script should contain?
A perfect Airbnb clone script should possess all the features necessary to build a successful platform. Let us look at the features which are needed for a modern day peer to peer lodging platform.
When you look through the internet to find the best Airbnb clone, there are five main segments which you need to pay attention to. The platform should be built with you (the entrepreneur), the service providers (the property owners), and users (travelers) in mind from the ground up. Let us look at five main aspects of a successful Airbnb clone script.
1 – Design
- SEO built in: The script (both the website and the app) should infuse SEO standards from the ground-up. This helps you to attract more, regular traffic from search engines such as Google. You do not have to hire a digital marketing agency to tweak your site’s SEO.
- Customization: What’s the use of a script which doesn’t allow you to put your own logo, change the color scheme or font? The clone script should be customizable – both on web and mobile platforms.
- API integration: say if you want to use a local payment app and integrate it on your platform. The script should allow you to integrate any API and customize your service delivery.
2 – Secure and quick transactions
- Payments: A clone script built on a strong technology stack makes it extremely secure and easy to transact on. Allowing users to pay via multiple payment modes securely on both the web and mobile platforms.
3 – Top notch user experience – UX
- Responsive design: The platform should be responsive. This means users can seamlessly experience your platform on any device and any layout. Most of us use multiple devices during the day. So, if a user is checking for properties on a desktop PC at work, and on the phone at the end of the day, your platform will deliver similar experience without causing interruptions or asking the user to click a few more times.
- Advance filter: Users should be able to select specific features such as properties with breakfast (or more) and get the desired results.
- Host details: Host details with property features and ratings should be accessible easily. Allowing users to choose the best hosts.
- Booking calendar: Users should be able to select dates using a calendar with minimal clicks. Just like on Airbnb.
- Enable guest chat: The clone script should allow users to chat directly with the host with a clean UI.
- Mange disputes: Managing dispute tickets and assigning them to staff to resolve should be enabled on the platform.
4 – Performance analytics
- Revenue model: The platform should have a built-in Revenue Management System, allowing users (property owners or hosts) to analyze past performance and gain complete control in setting dynamic pricing to stay ahead of their competition.
5 – What about after sales service and upgrades?
- Knowledgebase and Documentation: This is to offer you all the help in customizing your platform once you buy or subscribe to the clone script.
- Tech support: The moment you buy the full version, you should be eligible for round-the-clock tech support till you go live.
- Free upgrades for life: What about software upgrades? You should negotiate and get FREE software upgrades for LIFE. Once the platform is built, it wouldn’t take too many man hours for the developer to provide free software upgrades.
How much does it cost to build a clone script from scratch
A robust, modern clone script needs to be built on the latest technology stack. And add to it the resources you need to design, build, test, and launch the platform. In today’s demanding market, where it is a challenge to hire experienced developers, it will cost you anywhere close to USD 60,000 to develop an Airbnb clone script from scratch.
The best Airbnb clone script is already here for you
Instead of creating a clone script from scratch, why not buy it for far less?
- A clone script which is 100% customizable
- A clone script which has superior tech support
- A clone script which has all the features of Airbnb
- And that you receive FREE VERSION UPGRADES FOR LIFE
You don’t have to look any further than – RentRoom. RentRoom is a bespoke Airbnb clone script designed to be customized and comes with tremendous customer support and free software updates for life.
Ping us on WhatsApp with any query – we are available anytime and are more than happy to help you. At Rentcubo – everything we do, begins with you.