iTrip
| Cash Investment: | $9,500 | Investment Range: | $9,500 - $50,000 |
| Franchise Fees: | $9,500 | Training & Support: | Yes |
| Franchise Units: | 50 | Financing Available: | Yes |
How Our Program Works
- We list and manage your vacation property using the leading Internet rental websites. These sites are the most searched, with proven results.
- Write flattering property descriptions highlighting features that set your property apart from the rest
- Determine appropriate photos to best represent your property
- Do market analysis to determine competitive rental rates for different seasonal periods (rates are owner approved prior to publication)
- List your property on 6 different internet rental sites to reach the maximum number of tenants
- Respond to all rental inquiries received by phone and/or email usually within hours
- Obtain signed rental agreement from renter
- Obtain certified funds from renter including booking and security deposits
- Arrange for easy check in and check out
- Arrange for turnover cleaning services & any other special cleaning services needed (e.g. carpet cleaning)
- Update each website monthly recommending competitive specials for slow periods
- Issue you a check monthly or transfer funds directly to your account if preferred
- Return security deposit to renters 7 to 10 days following checkout inspection
- Follow up with renters to secure future repeat bookings
Frequently Asked Questions
Is this a Franchise?
No, this is not a Franchise opportunity. This is a Licensee / Licensor agreement offering you an exclusive territory, training and complete access to our software and internet systems.
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My area already has a large supply of local rental management companies, how will I compete with them?
Because of the efficiencies built into our system, and the large volume of traffic generated by the internet, you will be able to offer a value to Vacation Rental Property Owners in your market with lower Commissions in most cases.
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What unique advantages do you have over other rental management companies?
The primary advantage is that we are structured as a virtual company with efficiencies and automation that allow you to operate your business without many of the traditional expenses associated with typical Vacation Rental Management Companies.
What Marketing strategies do you employ to reach the prospective Tenants / Guests?
Our Internet Marketing Strategy is multi-faceted and includes Geo-Targeted search engine traffic, Organic search engine traffic, High Traffic portals, PPC or pay per click internet advertising and repeat business from our vast existing database of repeat customers.
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Which properties work best in this program?
We find that the Very Finest properties in the market work the best in our system. We provide the rental guest with professional photographs, videos and descriptions that allow the very best properties to reach their full potential. This is a real advantage for Licensees in our system as the finest properties are also the highest grossing properties. |
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How will I reach prospective unit owners?
We have a 5-Star program for reaching Vacation Property Owners in your area. In addition to the traditional direct mail campaigns, we include innovative internet marketing strategies and local affiliate programs that have proven effective at penetrating the Vacation Property Owner Base.
As a Licensee, what ongoing support will I receive?
You will receive ongoing training through various methods including Conference Calls, Webinars, Software Updates, New marketing programs and annual conventions.
What initial fees are involved?
There are initial Territory Licensing Fees and Training Fees. These fees will vary based on your territory size and location.
What are the ongoing fees?
There is a monthly commission on gross sales as well as an annual software license fee.
How will my exclusive territory be defined?
We will clearly define your exclusive territory with GPS coordinates and a visual map overlay created in Google Earth to be included as an additional exhibit in your contract.
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What kind of training will I receive?
Your Licensing agreement will include a defined amount of on-site training. This training includes 1 or more of the founders of the company working with you hands on in your territory. In addition to the on-site training package, you will receive one on one phone training and personal webinar training. In addition to this comprehensive training package, you will receive Full Access to iTrip University. iTrip University is full of excellent online training content including professional Video training modules covering Marketing, Software, Photography, Property setup etc. |
Will I need a Real Estate License?
In most areas, we have discovered that you will only need a Real Estate License if you are offering Long Term Rentals.
Are we at the Peak of the Vacation Rental Industry?
No, we are only entering the infancy of this incredible industry. The shift from hotels to Vacation Rental Properties is just beginning to reach main stream. As the largest group of Baby Boomers reach their peak travel years over the next decade, you will be ideally positioned to take full advantage of the massive growth heading our way.
Does this business require leasing or buying commercial retail
space?
No, this is a major advantage to our system. Many traditional Franchise opportunities require you to sign long term leases or purchase expensive commercial property. On top of the lease and property expenses, you are also required make large capital investments in property build out and furnishings.
Does this business require a large Inventory or Equipment expense?
No, you will only need basic office equipment in the form of a computer, printer, fax machine etc. The only specialized items you will need are a digital SLR camera with special wide-angle lens and a digital video camera with wide-angle capabilities.
Will I be responsible for collecting accounts receivable or bad checks?
No, this is one of the great benefits of our system. With the gust paying the total balance due in advance, there are no collections involved.
Do I have to pay the Cleaning Companies out of my commissions?
No, in most markets the cleaning fee is passed through to the rental guest as an additional fee.
Do I have to pay for property maintenance out of my commissions?
No, the maintenance fees are passed through at actual cost to the Vacation Property Owner.
Will I have to manage a large group of employees?
Typically you will not have employees in a medium sized market (based on your direct involvement in running the business). Your cleaning crews and maintenance professionals will be independent contractors.
Do I have to live inside my territory?
Obviously, it is a best case scenario for you to live in your market but we have proven that as long as you have the commitment to travel monthly to your market and do not live more than 8 hours away, you can run this business from a remote location.
Think about this for a minute, when an on-site property management company receives a phone call late at night concerning a broken Air Conditioning unit etc... What do they do? They pick up the phone and dispatch a qualified technician to the property. They do not get in their car and fix the unit themselves. We have discovered that the same phone call can be made from down the street or hours away.
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"... a step-by-step guide to help you make the transition from the employee culture to that of the entrepreneurial world. This book is a complete toolkit and user's guide for success for everyone who dreams of starting his or her own business."About iTrip
