All about Airbnb like app business: Growth, Revenue model, Features, Development cost

The advent of the on-demand economy and technological advancements has disrupted several industries, including travel and hospitality. They made the lives of everyone involved in the business simply by the use of an on-demand application. With an app onboard, businesses were able to reach a large segment of potential audience and gain high returns.

You can also enter this fledgling industry by launching your on-demand application if you are planning to start your own enterprise. The market is proliferating and is predicted to never seize its growth for the foreseeable future.

In this writeup, we have covered everything you need to know, to develop an Airbnb like app and set up your business in a short period. 

Business growth of Airbnb

• On average, around 2 million guests stay on Airbnb every night.
• The giant offers its service in 191 countries with more than 7 million accommodations listed on its app.
• Airbnb has over 150 million active users from all over the world.
• Around 6 million hosts listed their properties on the Airbnb platform.

Revenue model followed by Airbnb

Upon every booking made through the app, Airbnb receives commissions from two parties – hosts and guests. Airbnb charges 6-12% of the booking fee from the guest and charges the host 3% for every successful transaction.

You can also follow the same strategy to earn revenue through your app. Additionally, you can offer in-app marketing and advertising to generate income from your app, promoting hosts listed on your app as well as companies of similar interest.

The feature-set to include in the app

User App:

Registration: Allow your users to sign up with their phone numbers, email IDs, or their social media accounts.

Advanced search: Once they register with the app, users can now navigate through the app and search for the various accommodations listed on the app, using the advanced search option.

Schedule bookings: Users can book accommodations that are available for the dates that they plan to stay.

Estimated fare details: Users are provided with the fare details before they book the stay.

Favourites: Users can mark their preferred accommodations as favourites for future use.

Multiple payment options: Users can pay the hosts, using any of the various payment options available in the app.

Reviews and ratings: Users can rate and review the accommodations after they check out. It helps other users to make informed decisions.

Host App:

Accommodation listing: Hosts can list all accommodation that is available for guests to stay.

Request handling: Hosts are notified about the user requests, and they can accept or reject the request based on the availability of the accommodation.

Push notifications: Hosts are kept updated about the status of the booking and other related details through real-time notifications.

Manage earnings: Hosts can manage all completed bookings and earnings in one place.

Steps to build an app like Airbnb

Create a business plan: Note down the goals of your business and come up with a business strategy to achieve it. List down both your long-term and short-term goals and achieve them one by one.

Opt for leading developers in town: For your app development, you can either go with building the app from scratch or customize a ready-made Airbnb clone script. While the former demands a considerable sum of money and time, the latter saves you both. Choose the one that is convenient for you and get the app built.

Ensure to integrate all vital features: Features are the essential elements of the app. Ensure to include all necessary and advanced features in the app so that the app can function seamlessly.

Test the app: Before launching the app on the app stores, test your app to make sure it is free from bugs and glitches. That way, it can offer an enhanced experience to your users.

App launch and regular updation: After testing the app, launch it on the available app stores. Update the apps regularly with the latest features and functionalities, so your app can stay ahead of the curve in the long run.

App development cost

You should be aware of the cost involved in developing the app, so you can keep the funds ready. It helps in avoiding budget constraints when you are midway through the project. 

If you wish to develop the app from scratch, the development costs start from USD 10,000. If you go for customization of the clone solution, the price starts from USD 2,000. However, the charges vary from company to company. 

At Appdupe, we offer the best Airbnb clone, along with customization services at prices starting from USD 2,000. You can connect with our developers right away and get a live demo scheduled. If you are pleased with our demo session and previous works, you can start your app development with us instantly.

We ensure to provide you with the best-in-class service in short turnaround time at affordable prices.

Author

Marketing is my soul mate and writing is my side kick. Using my writing skills to share the knowledge of app development and upcoming technologies.