Managing staff, marketing your company, and keeping guests and homeowners happy—you know the ins and outs of the vacation rental business better than anyone. But sometimes, it can seem impossible to keep up with it all and still meet your personal and professional goals.
Selling your business may be the solution you’ve been looking for.
As of late 2017, we have successfully partnered with over 60 vacation rental companies stretching from Sunriver, Oregon to Key West, Florida. Through our acquisition experience, we’ve identified five common trends that influence vacation rental owners who decide it’s time to sell.
1. Cares About the Community
The connections you’ve built with your homeowners, employees, and business partners is much deeper than a business relationship. The company you have grown is now embedded in your community, and so are you. Because of this, the thought of letting go of your business also comes with a fear of losing these relationships.
Maribeth Clark, former owner of Chelan Vacation Properties, was looking for a work-life balance when she and her husband Lew Clark sold their company to Vacasa in 2015. Maribeth is now a Vacasa business development community manager in Lake Chelan, her local market. Maribeth’s knowledge and connections within her own community make her the ideal candidate for this position, while ensuring she has more time to spend with friends and family.
2. Looking for the Next Big Thing
You’re invested in your vacation rental business, but you don’t see it as your lifelong dream. Right now, you’re looking for your next big opportunity. However, there are only so many hours in the day, and either your future business or current business is not getting the time it needs.
Selling your current business can create more free time to focus on your new passion and give your future business endeavors the capital they need to get started.
Most importantly, the name you have worked so hard to build will not be put to shame when selling to a company with state-of-the-art booking, pricing, and customer service software.
3. Ready to Retire
You’ve spent years building your vacation rental business from the ground up. With the vacation rental industry changing at a rapid pace, you find yourself constantly playing catch-up with no time for yourself. Dreams of retirement and wanting more time for your family and friends are at the forefront of your mind.
Selling can give you the freedom to meet those personal goals, knowing that the company you’ve worked so hard to grow is in good hands.
4. Passionate About Real Estate
You entered the vacation rental industry by happenstance as a business opportunity. While your business has been successful, you’re ready to give up the headaches that come along with it. Being a part of the real estate industry, you’re motivated by the deal, and want to get the most for your business while still growing your real estate portfolio.
Our unique ambassador and referral programs help preserve client relationships and lead generation. We also offer agents the ability to give income projections based off of our data. With our long-term partnerships and global business possibilities, partnering with us could be the next big opportunity you’ve been searching for.
5. Passionate About Vacation Rentals
The vacation rental industry has become your professional passion. You have spent countless hours researching the industry’s changes and trying to grow your business to keep up with industry leaders. While owning a vacation rental company is not your dream, growing within the industry is.
Just because you decide to step away from your business doesn’t mean you have to leave the industry. In fact, this can let you focus on an area in the business you fully enjoy—many previous owners have taken general manager, local operations manager, and corporate positions with Vacasa.
If you’d like to learn more about the acquisition process, questions to ask, and how to prep, we encourage you to read The Acquisition Survival Guide by Vacasa Director of Integrations Zac Monahan.
Vacasa’s Corporate Development team has helped more than 60 business owners navigate the sales process in national and international vacation rental markets. With these partnerships, our team has gained invaluable experience and knowledge that we want to share with you. If you have any questions about how to prepare to sell—or would like a free, confidential valuation of your company’s value—we’d love to hear from you! Please call us at 844-333-3789 or email email@example.com.
Contributed by Leslie Irwin.