Businesses are seeing a new phase in their business. Among all, the rental business is flourishing with the advancement in technology.

Have you ever thought that the rental business would be at the reach of your hand?

I know the answer is no. Renting was not accessible to all back then. If we need to rent a home, car, venue, and more, we can only find through third-person.

Now, finding sellers is not a big problem. With the rental app, you can find whichever you want to rent easily.

In this article, we are going to see the popular renting platform, Airbnb Clone. We are going to see business models, features, and with all, what revenue strategies to follow to increase income.

Let’s get in!

The Market Value Of Airbnb Clone

• The total size of the platform is 150 million. The number is expected to grow in the future.
• So far, the listing that is made is 100,000 worldwide.
• Airbnb has made a record by increasing its revenue to $8.4 billion.

From the statistics, you can see that Airbnb is a huge renting platform worldwide. Let’s see other factors and revenue strategies.

Business Model Of The Airbnb Clone App

Airbnb’s business model is a major highlight of their success. The correct business model for your renting business is as follows:

App Structure

The platform has three main stakeholders: hosts, users, and the admin. Hosts’ and users’ workflows are the same. Let’s look at them.

Workflow For Hosts And Users

• Hosts and users log in using either social media accounts or email IDs.
• Upon logging into the platform, users search for a home using the advanced filter option, while hosts list their properties using the listing option.
• Once users find a property, they proceed to the payment option.
• Hosts receive a notification of the booking after payment is made.
• After the visit is complete, guests can leave reviews on the hosts’ profiles. Similarly, hosts can also write reviews on guest profiles.

Workflow For Admin

The admin can manage all activities such as managing history, inboxes, reviews, home page settings, and more. Moreover, they can manage currencies, languages, and more. With a dynamic admin panel, they can easily control.

Development Process Of Airbnb Clone App

Here’s a revised version with some grammar improvements:

The process of developing an Airbnb clone script doesn’t take much time. You may have heard assumptions that developing a pre-made app takes a long time, is less efficient, and more.

Let’s look at the simple step-by-step guide.

• The first step is to study the market. From the market value to the trends in your market, you need to analyze it thoroughly. If you don’t follow the algorithm, you can follow your competitors’ path to achieve your market insights easily.
• The next step is choosing a business plan. Here, you focus on market research, finances, employees, and more. It is a crucial part as it is where you need to sketch everything within your budget.
• Find your business goal and legalize your business with the local government. This step differs based on the location. Find the right way in your area and move accordingly.
• You must finalize your renting business’s UI/UX design, features, technology, and equipment. As Airbnb holds 100% customization, optimizing designs to your business requirements is easy. Pick the Airbnb PHP script and gain a good impression!
• Once you complete all the steps, you need to start marketing your business. You will market your business with third-party companies like Facebook, Twitter, Instagram, and more. Also, you can use traditional methods like pamphlets and others.

Now, Let’s see the revenue strategies to follow and how they generate with all the factors that are seen.

How The Airbnb Clone Generates Revenue?

Revenues are the pillar for a business to uplift in identity and growth. Let’s find the core revenue strategies of the Airbnb clone software!

Host Service Fees

Host service fee is a pay that hosts pay to the admin. Whenever a transaction is made between hosts and users, half an amount is shared with the admin. In other words, hosts need to pay a fixed amount to the admin.

The admin fixes the service fee. It is one of the ways the platform earns income. If you are looking for Airbnb like app development for renting, make sure you use this option wisely.

Hosts can earn a great income, making it an important source of revenue for their business. As the platform can not run without profit, they will take an amount from hosts for using the platform.

Guest Service Fees

It is similar to host service fees. The platform takes an amount from the guests when they make bookings. The fee is added to the total booking cost.

This fee differs based on the factors and the time of checkout. Another revenue strategy that you need to give importance to when developing the Airbnb clone.

Advertisement And Partnership

Most platforms use this revenue model for their additional income. Airbnb’s other revenue model is advertising and partnerships. They increase their revenue by advertising third-party products or services.

The advertising should be similar to the platform. You can promote transportation companies, tour guides, and more with your business. For instance, if you include transportation with yours, it will be helpful for you to earn and for travellers to easily find cabs or other modes.

As you partner with many highly-fledged companies like Instagram, Facebook, and Twitter to streamline your platform’s experience, this will be your ultimate success. Make sure you use it wisely and smartly.

Tying Up,

In a competitive landscape, it’s crucial to employ strategies that set your business apart. This involves implementing a suitable revenue strategy, a profitable revenue model, and the appropriate development approach.

These attributes are readily available in the best Airbnb clone app. By embracing its features and functionalities tailored for rental businesses, you can establish a thriving enterprise.

For further insights into its operation or comprehensive details, seek assistance from experts or explore my additional blogs.