Successful Boutique Vacation Rental Management Firm with Prime Opportunities for Midwest Expansion Currently Serving the Great Lakes Region
Strong Revenues; Solid & Scalable Systems Position Firm for Dynamic Growth.
The company, established in 2014, is a boutique, premier short-term rental leader in the Great Lakes Region.
The founder set out to create a lean and bootstrapped property management firm that would grow in a sustainable fashion with no outside/investor opinions funding its own growth. Because the Company has been managed responsibly and conservatively, revenue for the Company rebounded to more than $2 million in 2021, a 74% increase over COVID-impacted 2020 levels and just short of 2019 figures. Net income increased by 77% to $175,187 when compared to ($226,373) in 2020 which was during the height of the pandemic, regaining much ground almost equaling its pre-pandemic 2019 level of $200,071.
Many marketing opportunities exist but the firm has chosen to scale responsibly by limiting their growth to high quality clients/properties, with a “focus on those who are within their networks.” The company utilizes best-in-class technology partners and tools to scale operations and deliver high quality and high touch service. They are able to do this while maintaining a lean headcount and delivering unparalleled property revenues with high consistency and low cost thus positioning the firm for continued growth. Industry reports suggest pent-up demand that will lead to strong growth in future years in the vacation rental industry. The market is expected to expand at a compound annual growth rate of 3.4% through 2027 (Grandview Research).
Certain Principals of Raincatcher are registered representatives offering securities and investment banking services through Britehorn Securities, a registered broker-dealer (member FINRA/SIPC). Britehorn Securities and Raincatcher are not affiliated entities.
Purchase Considerations
~ $2.0 million in revenue in 2021. While the Company’s revenue dipped sharply during the COVID 19 pandemic, 2021 revenues rebounded strongly to near-2019 levels.
~ With headquarters in The Great Lakes Region, the Company is the area’s only professional and reliable vacation rental (VR) property management company.
~ The firm is a process-oriented organization, following defined operating procedures, flows and timing. Clients value working with a company that operates like a much larger organization, rather than someone’s side hustle.
~ The Company has been in operation since 2014. Its website has been live since that time.
~ The business has two leased physical locations (offices, plus operations and storage) totaling 3,994 square feet, plus six parking spaces.
~ Revenue is strongest from May through October, lower in November, December and April, and lowest in Q1.
~ As the STR (short term rental) market continues to grow, the Company’s solid and readily-scaled systems position it for dynamic growth in the hands of new ownership.
This company is for sale with an open bid.
Negotiable