Those days are gone when we don’t even think about sharing our space with any strangers. In today’s sharing world, we all are looking for affordable and budget-friendly sources. When we visit any place for official purpose or holidays, the first thing that comes to our mind is the accommodation that comes in our budget and provides a healthy environment to stay. A number of startups are working hard to solve these issues related to making customer’s life easier by using sharing economy.When it comes to accommodation or houses for rent, the first service provider name that comes to our mind is Airbnb. Nowadays, people prefer sharing economy platforms more than any other platforms because they are cost-effective and easy to use.
We all love to read business success stories if we’re also struggling to make our own startup successful. We got so many ideas and inspiration from other successful startup stories. We learn about their business turning points, challenges, reasons for success or failures and what they did to survive in the market. How to get your business on the right track? What to know before starting any startup? And many more. One of these success stories is the Airbnb case.
When was Airbnb launched?
In 2008, Airbnb was a simple idea and started with a mission to solve problems of the people to share or rent homes or flats in any area. This simple idea of founders turned into a successful business. It’s a surprise for everyone, no doubt they gave their best efforts to turn their simple idea into a super money making business.
Reason to launch Airbnb
As we all know, Airbnb was founded by Brian and Joe in San Francisco. They didn’t have much money to pay the rent of their flat in San Francisco. Here, Airbnb idea comes to their mind. They bought three air mattresses and put them in their living room. After that, they built a website named “Air Bed and Breakfast”. They started inviting people to live in their home in sharing.
Surprisingly, they would never get the opportunity to run a profit-making business like Airbnd, if they did not find 3 people to stay in their home at the beginning of the business. At last, they found those three people to stay at their home and later they even became friends.
This was the turning point of their life, they understood the importance of leasing and renting homes and flats. After the first successful order, they took this small business idea seriously. After that, they started working on the website to make it look good and rich with advanced features.
Airbnb business founders always gave the importance to customer feedback. When any person stayed at their home, they took their reviews so they could make their services better. The same thing came with the website, they were taking the reviews from the customers to improve their website and its features to make the browsing experience much better.
Why do people love the idea of Airbnb?
It’s a good idea and innovative too. People love it and Airbnb offers all the amenities, such as a microwave, hair dryer, washing machine, kitchen and many more, while it’s a very affordable option for everyone. Besides, Airbnb gives the wonderful opportunity for both guests and hosts to meet new people.
What are the reason of success of sharing economy-based startups?
Sharing economy-based startups are getting successful because people’s mindset is changing. Nowadays, people want to live on their own in a sustainable environment. Sharing is the best way to use your stuff in a more efficient way. When it comes to affordability, sharing is at the top. Nothing can beat the affordability of sharing platform.
Why do people share?
There are so many reasons for sharing, but here give the top 4 reasons. Sharing is:
It has not only the economic side, but the social one too. So people can share their belongings or home to reach efficiency and meet new people. This creates a win-win situation as both people get value.
Success factors of sharing economy business like Airbnb
- Using the newest technology optimally
- Extreme focus on solving issues
- Trust and safety
- Better services for less money
There are so many reasons for Airbnb success. In this article, we have discussed some of the important reasons of Airbnb popularity and success.
Starting a business is easy, but managing it becomes very difficult. Whenever you start any on-demand business, keep and eye on your competitors, do enough market research, learn from others’ failures, know the challenges that businesses face and more.