With larger property management companies looking to add to their portfolios, we're seeing more Airbnb entrepreneurs selling their businesses.
But what can you do to structure your business to ensure it's an attractive acquisition target?
Julie George discovered the world of Airbnb in 2016 when she listed her one-bedroom unit on the platform. In November 2016, she established Host My Home, one of Australia's largest Airbnb property management companies. In 2019, Julie sold her lucrative business to a larger company to concentrate on mentoring and consulting other budding entrepreneurs to build a business in the sharing economy.
On this episode of Get Paid for Your Pad, Julie joins me to explain the process she went through as she prepared her business for sale and how you can structure your business, so it's attractive to buyers.
Julie says, "If you've got ten or more properties that you are managing in a property management portfolio, get ready! You're going to get a knock on the door. I can almost guarantee it."
Listen in for Julie's insight into why NOW is the time to be sure you've structured your business so it's attractive to buyers—even if you're not currently thinking of selling.
Topics Covered
- The one thing you need to determine before you decide to sell your Airbnb business
- What can you do to structure your business to make sure it's an attractive acquisition target
- Where do you find the company that will buy your Airbnb business
- How to make your profit margin as strong as possible
- How asking the right questions can help you determine your best business moves
- 3 ways to find a suitable STR business buyer
- What was Julie's biggest mistake when she decided she wanted to sell her Airbnb business
- When can't you sell your Airbnb business
- What comes after the sale
Connect with Julie George
Million Dollar Host
Resources
Vacasa
Million Dollar Host by Julie George
The Million Dollar Host (EP 300) with Julie George
How to Work ON instead of IN Your STR Business (EP 346) with Julie George
Julie George's Takeaways Coaching 52 Airbnb Hosts Through Legends (EP 397)
Get Paid for Your Pad Newsletter
Email jasper@getpaidforyourpad.com
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