Tiny Houses: How Contractors Can Cash in on Airbnb Growth
An article that appeared in Fortune points out that Airbnb is on target to profit by $3 Billion by 2020. That is a lot of growth and something on which contractors should focus. There are a lot of construction opportunities around hot industries such as the travel industry which Airbnb is driving. How many construction opportunities do you miss?
Do You Have the Skills?
Part of the magic that is helping Airbnb fly to new heights is that fact that the units that they offer are very eclectic. PC Magazine ran an article on the 21 Crazy but Amazing Airbnb Rentals You Should Book Now. The article is a prime example of the oddities that people love, and it shows the range of skill sets that contractors need fully to address this dynamic industry. Do you have the skills?
Those skills range from modernizing a Gypsy wagon or school bus to creating a unit from shipping containers or building a tree house that is complete with electricity. Perhaps that biggest skill needed here is imagination. Not everything in their article is standard, so modification and creativity are handy skills too.
Bridging the Gaps
These types of opportunities are available to contractors in most communities. That is not to say that you should build tiny homes but rather that you should look at what your local market supports.
The Airbnb trend is worldwide, and it does not look like it is slowing down. Globally, cities such as Paris, which has 43,000 Airbnb listing are driving the market. New York City and Los Angeles are the only two American cities to make the top 10 list, and New York was second, while Los Angeles was seventh.
So, what is Airbnb doing in your city and can you cash in on the boom?
Get Paid for Your Pad looked at some of the busiest cities around the world, and at the top of the heap for the number of listing per 1,000 inhabitants is Miami, Florida, which has 21.1 Airbnb listings for every 1000 people.
Two Potential Business Models for Contractors
Already there are two business models swirling around here. One is to build Airbnb units for others and the second is to build them for your own Airbnb empire. Either way, there is a need for construction skills and most places require that these types of endeavors have a contractor’s license, which is doable.
The other consideration is that this is an easy business to start with minimal tools. These opportunities do not seem to require a huge investment, and they make the perfect weekend business ventures. If you find that the market is there to support a large company, you can grow your business to fit those needs. That’s really the beauty of these kinds of opportunities – they let you grow at your own pace, and they don’t require that you take on a ton of debt.
Beyond Tiny Houses
So, we touched on this a little bit earlier, but local opportunities for construction and contractors are not just about building tiny Airbnb units. They exist across many industries and within many cities.
The trick is to look outside of construction to find opportunities that you can turn into a business or a part-time venture. As with the tiny houses, all you really need are some tools and a contractor’s license.
So, let’s ask again; What kind of opportunities are there where you live? Reach out to us for questions about how to become a contractor.
About CSLS:
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Our teaching process prepares you in a step by step manner for everything you need to know to pass the law, business , and trade portion of your exam. Our programs are designed for convenience. We have online programs, home study, crash-course and in-school options, making it easy and affordable for you to become a licensed contractor.
