Airbnb for x or Airbnbforx is a generalized form of the fundamental Airbnb model, which is a peer-to-peer extension of the traditional online marketplace model for not selling but renting stuff.
Once we stayed away from the strangers. Never give out our personal information to strangers, and hardly went inside someone’s house whom we don’t know. However, today, we all connect with people we don’t know, get their address, and sleep in their homes. All thanks to the way Airbnb changed our perspective and the way we travel across the planet these days.
Airbnb is one of the biggest disruptive businesses in the modern world, creating a sharing economy centered on renting out rooms or homes to strangers.
In this article, let’s explore how it all happened, and how did Airbnb become a $38 billion company with more rooms than all the major hotel chains combined. Even more remarkable, how Airbnb gave birth to a global sharing economy that went from investors saying, “Do people even use this platform?” to “Let’s Airbnb for our next trip”.
We will understand the fundamental business model of Airbnb to find out how the same model is rising in many more market segments than housing and accommodation alone. The concept of sharing economy that gave birth to an entirely new segment called Airbnb for x model.
Airbnb for X –The ultimate business model
Letting a stranger crashing in your house would have been the most awkward thing before Airbnb was a thing. Even the initial investors did not believe if something like this would work, even in a first-world economy like the US.
Well, we all know what happened and how Airbnb went from ‘Airbed and Breakfast’ to a multi-billion giant. Although it was not a breezy road for the founders, the eventual success of Airbnb is a clear indication that sharing economy has now become a great place for investment.
This is what Airbnb for X stands for. Airbnb for x or Airbnbforx is a generalized form of the fundamental Airbnb model, which is a peer-to-peer extension of the traditional online marketplace model for not selling but renting stuff. Where Airbnb disrupted the market with accommodation sharing, Airbnb for x model uses the same concept to establish the same kind of ecosystem to share many other things.
The same business model can allow entrepreneurs to build a website like Airbnb for cars, bikes, boats, cruise ships, storage space, parking space, party lawns, equipment, books, co-working space, and much more.
In fact, Airbnb’s home-sharing business itself can allow the consumption of other shared services such as car rentals and other vacation and booking needs. For example, when travelers book an Airbnb in a tourist destination, it is more likely they would be interested in booking a car or a bike rental either. If you are wondering how to use this idea to make a profit, you are in the right place.
Why does Airbnb for x work well?
To be precise, Airbnb for x is a white-labeled peer-to-peer renting marketplace model. It has an immense potential to port its fundamental, P2P sharing model to almost every business vertical and allow new ventures to develop the sharing economy further from all corners.
However, the biggest reason why this business model works well is the value to every stakeholder. There is something for all three major stakeholders: Marketplace Owner, Asset Owner, and the Customer. Take car rentals for instance:
The customer can rent a car and return it after use, which otherwise would cost a fortune to purchase at once or rent from traditional rental services.
The car owner makes money sharing something that otherwise would have given no return on personal use, or would have stayed in the garage.
The marketplace owner makes money by charging a commission from both the customers and owners, interestingly without owning a single car of his/her own.
What makes it more interesting is none of the stakeholders go out of the way to make money or rent stuff. The model makes perfect use of private assets that people already possess without getting any returns on the investment.
Take a ‘car parking space’ business idea in urban areas for instance. Often, while commuting or on a road trip, we struggle to find a place to park the car or camping van. Of course, there are commercial parking spaces, but they might not be available everywhere, might be full, or excessively expensive depending on the region.
In such a situation, if you can start a P2P parking space rental marketplace allowing local people to list their personal spaces, you would be giving them a reason to make money from something that wasn’t returning anything until now. Win-win for everyone.
Benefits of P2P Rental Marketplace with Airbnb for X
The success of the P2P renting model is the sole result of Airbnb’s impeccable strategies. They changed not only the consumer behavior towards traditional hotel bookings but also the perspective of letting in a stranger into your house.
Going form cottage industry to the biggest accommodation chain in the world and Airbeds to Private Island on Fiji, Airbnb now lists any kind of accommodation one can think of. They have done a great job cracking the code by marketing the following benefits efficiently:
You can make money from something you bought for yourself but don’t use it very often. Moreover, customers can avoid purchasing stuff at once while also getting the same on rent for comparatively lower prices than renting the same from branded businesses.
Customers get a secure platform that guarantees not only the safety of their transactions but also the assured services. Both owners and the customers can be assured of their respective values, as they are dealing with a trustworthy platform. Besides, the platform protects the interests of all the stakeholders by providing damage protection and insurance
You can find stuff to rent in the places where traditional chains or any other renting business can’t reach. For example, you can find an Airbnb in the jungles of India where even the big hotel chains lack a presence. That’s the power of peer-to-peer collaboration.
Ease of Use
Since the model has the potential to run globally with local collaboration, simple enhancement in the user experience with location filters can help the customer find renters very easily. Besides, online transactions enable services like Airbnb to offer independent properties easily without any necessary human intervention.
What started with Airbeds is now a fundamental business model for several ideas. The P2P rental marketplace is a futuristic model with values propagating across the stakeholders. As a cherry on top, Airbnb clone scripts are making the adoption easy by offering ready-made solutions. One can simply use an Airbnb clone to start renting a lot more than just vacation accommodations. You just have to look for a valuable product or service with potential for P2P sharing and customize the script accordingly. It doesn’t have to be a 5-star property; we saw how simple ideas could turn into multi-billion setups. It’s time you take Airbnb as your inspiration and start your rental marketplace platform today with Airbnb for x.
About the author
Jessica Bruce is a professional blogger, guest writer, Influencer & an eCommerce expert. Currently associated with ShopyGen as a content marketing strategist. She also report on the latest happenings and trends associated with the eCommerce industry. Read also Luxury 4.0: A new concept that is secretly reshaping luxury marketing!