Value Proposition
The Tracktown Townhome is a place where guests can enjoy a comfortable stay.
The Issue
Hotels and rental properties in Eugene provide comfortable stays but are typically overpriced when sporting events and university functions are taking place. They also lack details and amenities that can educate the guests about the local area and its past.
Solution
Tracktown Townhome Airbnb provides more than just comfortable accommodation. It offers historical, hands-on learning experiences as well as exciting amenities and entertainment that make guests feel like trackstars.
Target Market
The Tracktown Townhome appeals to young couples and families with children who are looking for an interactive vacation experience. The secondary target market is athletes and sports enthusiasts coming to Eugene for vacation or track events.
Families with active children and young couples are the primary target markets:
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These people are physically active and seek to burn energy in the convenience of their Airbnb.
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They enjoy learning through hands on experiences.
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They’re tech-savvy and would love to have the chance to use the unit as a rental.
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A passion for sports and well-known athletes is a common trait.
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They want learning and entertainment to continue beyond the Airbnb.
Competitors & Differentiation
Latest Alternatives
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Other rentals spaces near historic Hayward Field
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There are a few local bed & breakfast
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One boutique hotel near downtown
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Many chain hotels offering standard hotel amenities
Why us?
Tracktown Townhome, an Airbnb, is more than a place to stay in Eugene. It offers unique experiences like gate-analysis treadmills, field history lessons, and fun amenities. Renters will be able to hear the cheers and feel the atmosphere of sporting events from their couch thanks to the Tracktown Townhome’s proximity to the university.
Funding Needs
The target property is priced at $400,000. The property will be purchased with 20% down, plus closing costs. 10,000 in minor renovations is needed. The estimated funding needed for furniture, kitchen outfitting, initial supplies, and initial funding of a “repair” fund is $25,000. The initial funding required is $120,000.
Sales Channels
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Airbnb Website
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Other Rental Websites
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Travel Oregon site
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Zillow
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Insta
Facebook
Market Activities
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Instagram
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Facebook
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TikTok
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Blogs
Financial Projections
Ongoing expenses will include internet, TV & streaming services, utilities, yard maintenance, contributions to a maintenance fund, loan payments, taxes, and insurance. Costs generated by guests will include cleaning, general maintenance, and a welcome gift. With an initial occupancy rate of 60%, we expect to earn $300 per night with moderate growth over the next few years.
Revenue:
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2023: $65,700
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2023: $70,000
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2024: $73,000
Expenses/Costs:
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2023: $50,000
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2023: $52,000
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2024: $54,000
Profit:
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2023: $15,700
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2023: $18,000
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2024: $19,000
Milestones
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Obtain necessary permits and licenses — May 1, 2023
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Finish renovations — June 1, 2023
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Add furnishings and amenities — June 22, 2023
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Take professional pictures of the space — June 30, 20,23
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Create and manage a website, social media accounts, July 1, 2023
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Open to Business — July 15, 2023
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Review forecast — September 1, 20,23
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Incorporate Eugene Marathon event package — April 15, 2023
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Hits 65% or Higher Occupancy Rate — May-August, 2023
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Renovate outdoor patio space — October 10, 2023
Team and Key Roles
Owner/Primary host
Establishes the business and is in charge of overseeing the setup, fees, and long-term upkeep of Airbnb. Responsible for the day-today operation of the business, such as refilling amenities, responding to urgent maintenance requests, and communicating with guests.
Cleaning/Maintenance Service
In charge of thoroughly cleaning and sanitizing the Airbnb between guests and reporting any damages or maintenance issues to the owner or primary host.
Partnerships & Resources
These partnerships are intended to incorporate the historic theme of Tracktown USA throughout Eugene in the Tracktown Townhome experience. Partnering with these businesses will provide a more holistic experience as well as exposure and support for local businesses throughout Eugene. This will also create a more tailored experience for guests.
Video gait analysis, shoe fitting and recommendations available for free
- Tracktown Pizza: Exclusive discount for two medium pizzas
- University of Oregon Track & Field Get discounted tickets for a UO track & field event
- Nike Run Club Tips and insights about running. Also, an exclusive training program that targets specific running areas in Eugene
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