Introduction
How will a housewife make money from a homestay business? You can only know some things to make money from this business. Eventually, you will learn and improve your business. Having the option to stay at home has many benefits, but missing a regular cash flow is not one of them. Being a housewife does not imply that you will make little or no money.
I started a homestay business managed by my wife. I don’t interfere in the business at all. She handles well and makes money from this business while taking care of our children. She wrote this article for your benefit.
If you plan to venture into a homestay business, this article will provide you with a complete guide. I started my homestay business in early 2020 with zero knowledge. Due to the pandemic, I struggled to sell the property. I recovered my investment within six months of starting the business.
A homestay business is a short-term rental where a property owner rents out a room or their entire home to guests. It’s an alternative accommodation option for travelers. It is also a way for homeowners to earn an extra income. This blog post will provide valuable information and guidance on successful homestay nosiness. The post covers such as:
- setting up the homestay
- marketing
- managing reservations
- and, maximizing income potential
Setting up your homestay business
Right location
Choosing the right location for your homestay business is crucial to its success. A few key factors to consider when selecting a location include:
Tourism
Is the area a popular tourist destination? If so, there will likely be a high demand for lodging and your homestay may be able to command higher prices.
Accessibility
Is the area accessible by public transportation or major roads? This will make it easier for guests to reach your homestay.
Amenities
Are there nearby restaurants, shops, and other attractions that guests can enjoy? This can make your homestay more desirable to potential guests.
Local laws and regulations
Are there any laws or regulations that may affect your business? Check the local rules.
Competition
Is there already a large number of homestays in the area? If so, it may be harder to stand out and attract guests.
Safety and Security
Is the area considered safe and secure? It concerns guests and should consider when choosing a location.
the above factors will help you to select the right location for your homestay.
Preparing your home for guests
Preparing your home for guests is important in setting up your homestay business. Here are a few things to consider when preparing your home:
Cleanliness
Make sure your home is clean and well-maintained before guests arrive.
Amenities
Provide guests with the amenities they need to make their stay comfortable. This includes fresh linens, towels, toiletries, and kitchen supplies.
Safety
Ensure that your home is safe for guests. Ensure that smoke detectors and fire extinguishers are working.
Comfort
Ensure your home is comfortable for guests. Provide adequate heating and cooling, good lighting, and comfortable furniture.
Privacy
Provide guests with a certain level of privacy such as a private entrance.
Decor and art
Make your home appealing and interesting to guests. You can provide the decor, art, and personal touch in the guest rooms or common areas.
Communication
Leave clear instructions and information for guests. You can provide information on appliances, access to Wi-Fi, and local recommendations.
In this way, you can ensure that your guests have a comfortable and pleasant stay in your home. This also helps to attract future guests and positive reviews.
Setting prices and creating a listing
Here are a few things to consider when setting prices and creating a listing:
Research comparable listings
Look at similar homestays in your area to get an idea of what prices are being charged. This will help you to set prices that are competitive and will attract guests.
Consider your costs
Take into account your expenses when setting your prices. You will want to set prices that will allow you to make a profit while still being competitive.
Seasonality
Prices can fluctuate depending on the season and demand.
Extra services
you can offer services such as meals or transportation.
Listing
Include clear and detailed information about your property such as:
- the number of rooms
- amenities
- photographs
Be honest about your property and what guests can expect from their stay.
Flexibility
Be flexible with your prices, you can offer discounts for more extended stays or special events.
Review and update
Review and update your prices based on the following:
- local demand
- costs
- improvements to your property.
Competitive prices and accurate and detailed listings will attract more guests.
Marketing your homestay business
Social media and online platforms
A few ways to use social media and online platforms to promote your homestay:
Create a social media presence
Share photos and information about your homestay on social media platforms as follows:
Online booking platforms
Many travelers use online booking platforms to find lodging as follows:
- Airbnb
- Booking.com
- Vrbo
- Agoda
Make sure you have registered with the above platforms. They increase your homestay visibility and attract potential guests.
Create a website
Create a website for your homestay that includes:
- photos
- reviews
- contact information
Use your website to promote your homestay and connect with potential guests.
Hashtags and keywords
Use relevant hashtags and keywords on social media and your website. This will make it easy for potential guests to find your homestay.
Use Influencers
Collaborate with local influencers or travel bloggers. This will help to showcase your property and reach a wider audience.
Use review platforms
Encourage guests to leave reviews on online platforms and social media. Positive reviews can be a powerful tool for attracting future guests.
Building relationships with local businesses
Building relationships is an effective way to promote your homestay business. A few ways to build relationships with local businesses and organizations:
Partner with local businesses
Partner with local businesses such as restaurants, shops, and tour operators. Provide discounts or special offers to attract potential guests. This will create a sense of community around your homestay.
Attend local events:
Attend local events such as festivals, fairs, and farmers’ markets. This will connect you with potential guests and promote your homestay.
Join local organizations
Join local organizations such as chambers of commerce, tourism boards, and neighborhood associations.
Use local media
Advertise your homestay in local media such as newspapers, magazines, and radio stations.
Create a referral program
Create referral programs with local businesses and organizations. They will earn a commission for every guest they refer to your homestay.
Offer a package deal
Create a package deal with local businesses and organizations for guests.
Creating a website or blog for your homestay
A website or blog can promote your business and attract potential guests. Here are a few things to consider when creating a website or blog for your homestay:
Make it informative and appealing
Make it easy to book – include a call to action such as a “Book Now” button. Potential guests will find it easier to make a reservation.
Showcase your local area
Use a booking plugin to allow guests to book from your website.
Use a blog
Share your local knowledge and give guests a sense of the local culture and community. Use it to share tips, local recommendations, and personal stories about your area.
Optimize for search engines
Use relevant keywords and meta tags to optimize your website or blog for search engines. Potential guests will find your homestay when searching for lodging in your area.
Make it mobile friendly
Make sure your website or blog is mobile-friendly and responsive. Many people use their smartphones to book travel accommodations
Managing your homestay business
Setting house rules and expectations for guests
A few things to consider when setting house rules and expectations for guests:
- Be clear and specific
- Communicate with the guests in person
- Provide a guidebook
- Respect for privacy
- Be flexible
- Enforce your house rules and expectations
Reservations and payments
Here are a few things to consider when handling reservations and payments:
- Use online booking platforms such as Airbnb, Booking.com, Vrbo, and Agoda. These platforms provide guests with an easy and secure way to book and pay for their stay.
- Have a cancellation policy
- Accept many forms of payment
- Use a payment gateway
- Communicate with guests
- Have a confirmation process
- Keep accurate records
Providing excellent customer service
Here are a few things to consider when providing excellent customer service:
- Timely response to guests’ inquiries and messages.
- Be friendly and welcoming
- Be attentive to guests’ needs
- Provide local knowledge and recommendations
- Follow up after guests’ stay
- Be flexible
- Be professional
Maximizing your income with your homestay business
Offer more services such as meals or transportation
A few things to consider when offering more services such as meals or transportation:
- Research local demand
- Consider your capabilities
- Set a fair price
- Communicate with guests
- Make it easy for guests to book
- Offer package deals
- Follow local laws and regulations
Renting out the space for events
Factors to consider:
- Research local demand:
- Consider your space
- Set a fair price
- Communicate with potential clients
- Provide more service
- Insure your property
Generate passive income from your homestay
A few ways to generate passive income from your homestay include:
- Rent out your space on a long-term basis
- Rent out your unused space for storage
- Rent out your parking space
- Rent out your garden
- Invest in smart-home technology such as smart locks. It’s easy to manage your homestay allowing you to generate passive income even when you are away.
- Offer a concierge service
passive income can supplement your income and make your business more sustainable. It allows you to make the most out of your property and resources. In this way, it can help to attract future guests and have positive reviews.
Conclusion
Starting a homestay business can be a great way to earn extra income. It allows you to be your boss and manage your own business. Here are a few reasons why starting a homestay business might be right for you:
- Flexibility
- Extra income
- Meet new people
- Learning opportunity
- Sense of accomplishment
- Be a host
But keep in mind that running a homestay business requires effort and dedication. It also requires compliance with local laws, regulations, taxes, and insurance. To start a homestay business, it is essential to do your research.
It is a perfect venture for housewives to start a homestay business as it is rewarding and brings in exciting experiences. High potential to provide more income.
