10+ Best & Profitable Airbnb Business Ideas [2023]

Ready to break into the Airbnb business? Discover 10+ creative and demanding Airbnb business ideas that are guaranteed to help you start making money on the side. Find out which of these ideas will work best for you and start building your empire today!
Nick

By Nick Cotter
Updated Feb 07, 2024

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Hey there, future entrepreneur! Have you ever found yourself daydreaming about running your own successful business? Or perhaps you've been bitten by the travel bug and are looking for a way to combine your love for exploring new places with a profitable venture? If so, you've come to the right place. Welcome to the future - 2023 to be precise - where the opportunities are as vast as your imagination.

Now, let's talk Airbnb. You might know it as your go-to platform for finding a cozy place to stay on your travels. But, what if I told you that it could be so much more? That's right! Airbnb isn't just for travelers and hosts; it's a goldmine for savvy entrepreneurs looking to tap into the lucrative sharing economy.

In this article, we're going to dive into the top 10+ best and profitable Airbnb business ideas for 2023. Whether you're a seasoned business owner looking for your next venture, or a newbie dipping your toes into the world of entrepreneurship, there's something here for everyone. So, buckle up and get ready to turn your business dreams into reality. Let's get started!

Private Vacation Home Rentals

Private vacation home rental is becoming increasingly popular among travelers who want more than just a hotel room. It’s a great way to immerse oneself in the destination and feel like a local. A private vacation home offers privacy, space, and freedom to travelers who want to explore a new place on their own terms.

  • Private vacation home rentals provide guests with a homey and comfortable atmosphere, making them feel more relaxed and comfortable.
  • These rentals offer a wider range of amenities that are not typically found in hotels such as a full kitchen, backyard, and private pool.
  • They offer more affordable accommodation options for large families or groups of friends who want to stay in the same place, rather than booking individual hotel rooms.
  • The business model for private vacation home rentals is lucrative for the property owners as they can make a consistent income throughout the year, and the property can appreciate in value over time.
  • With the rise of online booking platforms like Airbnb, VRBO, and HomeAway, private vacation home rental has become more accessible to travelers.
  • Offering a unique and personalized experience to guests allows for repeat business and word-of-mouth recommendations, which can help grow the business.

Overall, private vacation home rentals offer a great opportunity for entrepreneurs looking to start a new venture in the travel industry. It’s a growing market with a high demand for unique and local experiences that cater to a wide range of travelers.

image of a Private Vacation Home Rentals

Luxury Retreats

Have you ever dreamt of owning a business in the hospitality industry but do not know where to start? Consider starting a luxury retreats business!

  • A luxury retreat is a high-end vacation option that provides guests with a luxurious, private, and personalized experience. This type of vacation is popular among people who are willing to pay a premium for unique and exclusive experiences.
  • Here are some reasons why starting a luxury retreats business can be an excellent idea:
  • Lucrative market: The luxury market is growing, and people are willing to spend more on experiences that fulfill their desires for exclusivity and privacy.
  • Low initial investment: You can leverage existing properties to start a luxury retreat business, reducing the cost of purchasing land or constructing new buildings.
  • High-profit margins: Luxury retreats charge a premium, which means that you can make more profit with fewer bookings.
  • Exclusive amenities: Luxury retreats typically offer private chef services, personalized activities, private pools, and spas, among others. Offering these amenities can be a unique selling point to attract more guests.
  • Opportunity for expansion: Once you've established a successful luxury retreat business, you can consider expanding to other locations or offering more amenities.
  • Starting a successful luxury retreat business requires careful planning and execution. Here are some things to consider:
  • Location: Choose a location that is desirable and has a high demand for luxury vacations.
  • Target market: Define your target market, and tailor your services accordingly.
  • Marketing: Develop a marketing strategy that targets your ideal guests and creates awareness for your luxury retreat business.
  • Operations: Manage your operations effectively, ensuring that your guests have a seamless and unforgettable experience.
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Examples of successful businesses:

Some of the most successful companies within the Airbnb business industry include:

  • Airbnb
  • VacationRentals.com
  • HomeAway.com
  • VRBO.com
  • Booking.com
  • Roomorama.com
  • Tripping.com
  • FlipKey.com

Co-living Spaces

Co-living spaces are a trendy concept, especially among millennials, that provides an alternative to traditional living arrangements. A co-living space is a shared living environment where residents rent a private bedroom, while shared spaces such as kitchens, living rooms, and sometimes even bathrooms are shared among residents. This concept is gaining popularity fast, and for good reasons.

Benefits of Co-Living Spaces:

  • Affordable: Co-living spaces offer a more affordable way to live in urban areas, which is an attractive sell for people living in big cities with skyrocketing rents.
  • Community: Co-living spaces provide an instant community for residents that share collective interests and desires for social and professional relationships.
  • Amenities: Many co-living spaces come equipped with amenities such as communal kitchens, social spaces, gyms, and even coworking spaces.
  • Flexibility: Co-living spaces offer flexible arrangements that make it easy for residents who are new to a city or looking for a temporary living situation while they figure out the next steps.
  • No Hidden Costs: Unlike traditional apartments, co-living spaces typically include utilities, internet, and other amenities in the rent price, eliminating hidden costs that could be incurred in traditional living arrangements.

Co-living spaces make a perfect business idea today, catering to the needs and preferences of a growing demographic. These spaces tend to be popular with millennials, who favor experiences over ownership, as they look for more affordable, flexible, and communal living arrangements. Entrepreneurs can tap into this demand and create profitable businesses, providing affordable and comfortable co-living spaces that cater to the needs of modern urbanites.

Outdoor Adventure Tours

Outdoor adventure tours are trips designed to explore the outdoors and experience different types of exciting activities. These adventures can include hiking, camping, rock climbing, kayaking, mountain biking, skiing, and more. They are typically led by experienced guides who provide knowledge and guidance to ensure participants have a safe and enjoyable experience.

  • Outdoor adventure tours are becoming increasingly popular as people seek to escape the hustle and bustle of everyday life and connect with nature.
  • They provide opportunities for individuals and groups to challenge themselves, conquer their fears, and push their boundaries beyond what they thought possible.
  • Outdoor adventure tours can be customized to fit the needs of a wide range of customers, from families with small children to groups of experienced adventurers.
  • These tours also offer unique opportunities to learn about the environment and wildlife in different regions, providing educational benefits to participants.
  • Outdoor adventure tours can be operated as a seasonal or year-round business and have the potential to generate significant revenue through tour fees, merchandise sales, and additional add-on services.
  • With the increasing focus on sustainable and responsible tourism, outdoor adventure tours can also offer a chance to promote and practice eco-friendly practices, such as Leave No Trace principles and responsible wildlife viewing.

Local Experiences And Activities

Are you tired of the same touristy destinations and generic experiences? Why not explore the hidden gems and authentic culture in your own backyard through local experiences and activities? A local experience business can offer travelers or even locals unique and personalized adventures that you won't find in a guidebook or typical tour package. Here's why it can be a great business idea:

  • Locals know best: By tapping into the expertise of locals, your business can offer customized and unique experiences tailored to the interests and preferences of your customers.
  • Opportunity for authentic cultural exchange: Local experience businesses provide a platform for travelers to connect with locals and gain insights into their culture, traditions, and way of life.
  • Differentiation in a crowded market: In the age of tourism saturation, standing out from the competition requires offering something different, unique and special. Local experiences check all those boxes.
  • Year-round business potential: Unlike typical tourism seasons or destinations, local experiences can be offered year-round, tapping into the demand of Adventure seekers or exploring a new kind of tourism.
  • Fostering a sense of community: Local experience businesses can create opportunities for locals to share their neighborhood or interest in a mutually beneficial way, stimulating a sense of pride and involvement with their neighborhoods

Boutique Bed And Breakfasts

Have you ever walked into a hotel, and felt like you were just a number in a sea of guests, with no personal touch or warmth? A boutique bed and breakfast offers a refreshing change, where guests can experience a unique, personalized and authentic stay. But what exactly is a boutique bed and breakfast, and why would it make a good business idea? Let's explore.

  • Purpose: A boutique bed and breakfast is a small-scale accommodation that offers a high-quality, personalized and often luxurious experience for guests. Unlike traditional hotels or motels, boutique bed and breakfasts are designed to provide guests with an immersive and memorable experience that is tailored to their individual tastes and preferences.
  • Differentiation: One of the key features of a boutique bed and breakfast is its uniqueness. Unlike chain hotels, which often have the same layout and interiors, boutique bed and breakfasts are designed to reflect the local culture, environment and history of their location. This provides guests with a sense of immersion and creates a memorable and authentic experience.
  • Personalization: Boutique bed and breakfasts offer a personalized experience to guests, from the way the rooms are decorated, to the food served at breakfast, and the advisory services for activities in and around their destination.
  • Location: Boutique bed and breakfasts are usually located in intimate picturesque places, which provide guests with a unique view of the city or town that they are exploring. Popular locations are coastal areas or rural settings with activities such as hiking, amusement parks, local wineries, and breweries.
  • Guest Experience: In a boutique bed and breakfast, guests can expect a unique, cozy atmosphere with amenities such as comfortable furnishings, curated art exhibits, naturalistic or themed decors, ambient lighting, and spa indulgences such as massages.
  • Revenue: Boutique bed and breakfasts offer an experience-based business model, charging on average $150 per night per guest with amenities such as personalization and exceptional experiences.

As an entrepreneur, a boutique bed and breakfast can be a good business idea as it not only provides guests with a personalized and intimate experience, but can also be profitable. By catering to guests seeking unique experiences and personalized services, you can differentiate from traditional hospitality options and build a loyal customer base.

Corporate Event Spaces

A corporate event space is a venue that is specifically designed to accommodate corporate events such as conferences, seminars, product launches, employee meetings, and annual general meetings.

  • Corporate event spaces come in different shapes and sizes; some are small and intimate, perfect for small business meetings, while others are large enough to house thousands of attendees.
  • They often offer various amenities such as audio and visual equipment, stage and lighting set-ups, catering options, and Wi-Fi connectivity to ensure that your event runs smoothly and professionally.
  • With the rise of remote employees and virtual teams, corporate event spaces provide a perfect opportunity for teams to come together and collaborate, network, and strengthen company culture.
  • Corporate event spaces also make great business ideas because they can be versatile and profitable ventures.
  • They can be used to host a variety of corporate events, as well as social events, such as weddings and birthday parties, during off-peak business hours.
  • Additionally, corporate event spaces can act as spaces for lease, allowing businesses to make money even when they are not hosting events.

In conclusion, owning or managing a corporate event space can be a lucrative and fulfilling business venture.

Pop-up Hotels

Have you heard of pop-up hotels? You might be wondering what it is exactly. Well, it's just what it sounds like: a hotel that "pops up" temporarily in a location, providing a unique and often luxurious experience for guests.

  • Pop-up hotels offer a new and exciting way to travel. Instead of staying in a traditional hotel, guests get to experience something different and memorable.
  • These hotels are often located in areas with limited or no hotel options, such as rural areas or at special events.
  • Many pop-up hotels are environmentally friendly, using sustainable materials and leaving little impact on the local community.
  • They can also be a great business idea for entrepreneurs. Here's why:
  • Low start-up costs - since the hotels are temporary, there's no need to invest in a permanent building.
  • Flexibility - pop-up hotels can be set up in any location for any length of time.
  • Opportunities for creativity - since pop-up hotels are often themed or designed around a specific event, there's room for unique and creative concepts.
  • Potential for high profits - with the right marketing and pricing, pop-up hotels can be a lucrative business.

Overall, pop-up hotels offer a fresh and exciting option for travelers and a potentially profitable business opportunity for entrepreneurs willing to think outside the box.

Food Tours

If you love food and exploring different cultures, a food tour might just be perfect for you. A food tour is an experiential activity where individuals visit various food destinations, tasting local and traditional dishes along the way. These tours can be designed for tourists or locals, and can highlight different types of cuisine, such as street food, wine, or desserts.

  • Food tours can be a great opportunity for tourists to experience local cultures and foods.
  • It is an ideal way to connect locals with visitors and share the love of food with others.
  • Food tours support local food businesses and can contribute to the local economy.
  • There are many different types of food tours available, from walking tours to bike tours or even food crawls.
  • Food tours offer a unique and memorable experience for individuals or groups, making them great for special events or celebrations.
  • Food tours can integrate storytelling and history, making the experience not only delicious but also educational.
  • A food tour business can be relatively inexpensive to start-up, and has potential for high revenue with the right marketing and partnerships with local businesses.

Wedding Venues

Wedding venues are rented spaces where couples can host their wedding ceremonies and receptions. These venues can range from a simple backyard to an elegant ballroom, and are usually chosen based on the couple's preferences and taste.

  • Wedding venues can offer a picturesque setting for ceremonies and receptions, creating a memorable experience for the bride and groom.
  • Many couples are searching for unique and customizable options, which can lead to a variety of creative opportunities for venue owners.
  • Weddings are a huge industry and couples are willing to spend money on creating a special day, making it a profitable business idea.
  • Venue owners can also offer additional services such as catering, decor, and event planning, further increasing revenue.
  • By establishing relationships with vendors and industry professionals, wedding venue owners can build a reputation and become a go-to location for events.

Starting a wedding venue business requires careful planning, market research, and attention to detail. However, with the right location and services, it can be a lucrative and fulfilling venture.

Nick

Founder and CEO

I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.