Market Analysis of the Shepherd's Retreat, an airbnb business
The Shepherd's Retreat
The Shepherd's Retreat is a family-owned business, located in Livingston, MT. Judson Gilbert, his wife Nicole Gilbert, and his brother list their family-inherited home on Airbnb and VRBO to customers looking to explore Montana and the tranquility of rural life. With the vast amount of future potential for the property, the owners are excited to begin to expand their business venture with creative and unique ideas to continue to increase the attractiveness of the property to would-be guests. Judson and Nicole are keen on keeping the land as original as possible to maintain the natural beauty that their property boasts, and adding to that in subtle ways for people to enjoy their experience even more.
The property is positioned to solve problems for VRBO or Airbnb guests. It provides visitors with a vacation stay or event venue that transcends the average property. Not only does it provide views for days of the Montana wilderness as well as the driving distance of the Yellowstone Park entrance, but the property is also located on 20 acres. This provides guests with room to roam and explore on the property, which makes it invaluable to people looking to do some hunting or scouting for the vast amount of wildlife that the area offers. In addition to Yellowstone Park, Chico Hot Springs is also a must-do when visiting the area. Shepherd's Retreat also provides an authentic Montana experience filled with decades of history.
Shepherd's Retreat is a property for leisure activities and serves large groups for family reunions, weddings, birthday parties, or vacations. Due to the outdoor opportunities such as hiking, hunting, or even skiing this location would be great for the outdoorsy guest. As there is a one-dog-only policy this would be great for dog owners that need the opportunity for long walks. Also, by being so secluded, this type of rental property is great for people looking to disconnect from society and enjoy what the Montana wilderness has to offer.
The competitive advantages include quality size and price, as the 4500 sq ft home sits on 20 acres of land, allowing room for up to 11 guests for around $200-$500 a night. The location is secluded, where the only neighbors are the local wildlife. With the use of Airbnb and VRBO, the owners are able to increase their chances of having their homes booked, along with providing more and better reviews on each site. The Shepherd's Retreat also has a large advantage over the competition due to having the room to expand on their property, by adding more buildings to house guests or increasing the number of attractive amenities on the property, they will likely be able to increase their price for booking as well as hosting different groups at the same time without them ever coming into contact with one another. Also, by owning the property outright, the owners are able to increase their profit margins and have the extra income needed to make improvements to the property that will attract more diverse groups of people looking for somewhere to stay.
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