Houses on The Lake will establish a viable business model to rent vacation houses on Lake Shasta. Instead of buying houseboats, the company will rent out small housesboats to young couples and families (up to six persons) from their existing owners. To compete with luxury vacation houseboat operators, the business will provide vacationers with other services. It will also offer moorage and revenue sharing to existing owners. The loan financing is required for the launch of the business.
Robert Hopkins, the founder and owner of the business, will make it profitable within its second year. The company will also be very profitable in its third year. Rent rates will be very low for the market and start at about $600 for three days in an off season.
Objectives
Three vacation houseboats will be the first to go on Houses On The Lake’s business. Houses On The Lake will achieve the following goals in the first three years:
- Marina and marina rental land
- A pool of eight houseboats can be created by current owners who are interested to rent them out.
- Steadily growing revenues each year
- Achieve a 50% retention rate of customers from year 2 to year 3
Mission
Houses On Lake will offer affordable vacation houseboat rental options for couples and families looking to enjoy Lake Shasta. Families and couples will find the right balance of excitement and relaxation in this business. There are many options available for activities that can be tailored to each person or group.
Keys for Success
The following are key factors to your success in the business of vacation houseboats:
- For the comfort and luxury of the accommodations, the boat rental must be maintained at a high standard.
- Many activities and services available to suggest and promote family involvement
- Seasonal pricing to encourage year-round utilization of the boats
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