It takes money to make money, but how much is too much and are you spending effectively? Yes, dear hosts, in today’s show we’re talking: Numbers that Matter: Is that Welcome Basket Worth It?
The Importance of Numbers
Flint Gardner is joining me to discuss the very important topic of numbers and return on investment. We don’t get all jargony in this episode, so don’t panic!
We do talk about some important cost questions, like whether you are spending too much money on your welcome basket? Is it better to buy a king size or queen size bed? We also talk about the fact that sometimes you need to spend money to make money. That being said, Flint started Airbnbing without spending a dime.
Flint Gardner is a member of the Facebook Group, The Hosting Journey, and he commented on my post when I said that I was working on my numbers.
You check your numbers on occasion, right? Do you have a credit card just for your expenses? To make life easier? Well, lots of hosts don’t check numbers.
The reality is, this is a business. Yes, I’m sorry to tell you. As much as you might love your guests maybe not the mystery stains, but making breakfast for your guests), you have to think, “Am I making or losing money?”
Ok, back to Flint.
Who is Flint Gardner?
Flint knows his numbers inside and out, and before he even buys a bed he figures out if this is the best way to spend his money. Will it provide more bookings? Will it bring better reviews, which means more money?
How does he figure this out?
Well…Flint loves real estate and found his interest in property management before he bought his first home, which he now rents and manages. Look, in his early 20’s he convinced his wife to buy a house instead of living large. He oversees the business operations for Peaceful Property Management in Utah. Flint and his wife, Sarah, have one son, Atlas, and one daughter, Everest.
But Flint is also an Airbnb host. He shares a suite in his house, and we talk all about how he undercut his competition and has taken over the small but mighty market. We do a breakdown of fixed and variable costs. If you feel inspired and want to go even deeper, listen to Episode 7: How Much is Your Airbnb Guest Costing You?
We Talk About:
In this current Episode: Numbers that matter: Is that welcome basket worth it?, Flint and I talk about:
- Do you talk to your customers? Do you get to know them?
- When you buy something, do you know if it’s going to increase your bottom line or give you a 5-stars?
- Most important perception is a reality, guests want to feel like you thought of them.
We went deep… You want to listen
Flint and I could talk until the cows come home, believe me. But I want to first say, I hope all goes well with Sara’s health. You’re all in my thoughts. Second, thank you for taking the time to share your passion of numbers with The Hosting Journey community.
If you want to see Flint’s amazing home:
I know we all want to create an amazing experience for our guests and provide the best of the best. Nonetheless, those numbers need to add up. Yes, my dear hosts, it’s a business after all.
Your Host,
Evelyn
Links:
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