Knowing your financial goals is the ‘long-term goal. With any business venture, the first question that you hope to answer is, “Is it a viable option?” Simply meaning, will this work financially? I don’t want you to get discouraged when you outline your financial ‘goals’ and they can’t be supported by market research. Related: 7 Crucial Steps to Planning a Successful Kitchen Renovation Consider your (financial) goals

I’ll provide you with some of the resources that I use when I’m hired to develop such a business plan or a client. Just like anything else it takes time, patience, and some investment. Airbnbs are not a ‘get rich quick’ revenue stream.

I would say that if your hopes are to replace your current income from your job or to eventually hire a Co-host, then yes you should definitely have a business plan. People get into hosting on Airbnb for many reasons, some right, some wrong, and some are completely personal preferences. Do you need a business plan for an Airbnb? Well, you definitely need a plan, that’s for sure!

Airbnb co hosting business