Cutting costs

[Elisabeth1341]

Hello everyone, i am looking into ways to cut costs without changing the quality of my services any ideas??

[Bhumika]

These are fantastic tips @Greystone0 ! I really like the way you think about finding used but well maintained items in thrift stores or other market places 💯 I do the same. I recently bought a lot of books from marketplace (Lord of the rings book set - lesser price and almost new 😍)

Since buying second hand items can also be tricky depending on what you are looking for , how do you decide what to buy new and what to buy used?

[Greystone0]

hi @Bhumika ! 

thanks for asking, this is a great subject! Books are a fantastic find! love that.

How do I decide? I don't really decide, I sort of let the assortment available give me ideas.

For example, I really had no intention of buying more sleds at that particular moment, but there they were, 2 'new' sleds for $3 each, same model I had purchased for $45 each. These tend to break or crack over time with use, and so I would anticipate needing to replace in the future, so now I have the replacements!  These were in our local thrift store, which I visit regularly just to 'see' what is available.

I keep my eyes peeled for anything interesting, unique, useful, etc. 

[Bhumika]

Same here and sleds for just 3$ are indeed a great find 😍 ! @Greystone0 , are there any other items that you look forward to buy in future or something that you've got on your list and awaiting a good deal? 

[Bec3748]

Hi @Elisabeth1341 ... you have a super gorgeous listing! Wow.... I'm happy to share some ideas, but it really depends on where your biggest costs are sitting.

Would you mind sharing your main expense categories ie cleaning, consumables, linen, platform fees, energy (electricity/gas) etc? Once we know what's fixed versus variable, it's much easier to spot where you can reduce costs without impacting guest experience. The easiest wins come from trimming variable costs 🙂

regards, Bec

[Bhumika]

Hi @Bec3748 , thank you so much for chiming in! I agree with you, figuring out those expense categories is a place to start 💯 

While we wait to hear back from @Elisabeth1341 , do you use a spreadsheet or an app to track your expenses? Is there any preferred method, that works the best for you?

[Bec3748]

Hi @Bhumika thsts a great question… 

I keep it fairly simple with a spreadsheet so I can see both annual costs and cost per night. I separate fixed costs (rates, insurance, internet, etc.) from variable ones like cleaning, laundry and consumables.

That’s helped me understand what it truly costs to run the property per night, and where small changes can make a difference without impacting the guest experience 👍

[Bhumika]

Great insights @Bec3748 , I am sure it will be helpful for host @Elisabeth1341 and many others referring to this thread 🌻 Thanks so much for sharing!

[Bec3748]

You’re very welcome @Bhumika 👍😁

[Bhumika]

Hi @Elisabeth1341 , hosts have shared interesting ideas to cut costs while maintaining quality service. Did you get a chance to have a look at their ideas? I'd love to hear what you think about them and whether it will help manage the budget for your listing! 

Thank you so much @Bec3748 @爱彼迎旅行家32 @Greystone0 @Karen114 @Donna19 for these wonderful ideas and tips 💡

Regards,

[Bec3748]

… hi @Elisabeth1341 … 

one thing that’s made a noticeable difference for us was reducing our ongoing utility costs.

Last year we installed a solar system (as large as we were permitted), which was about a $6,000 outlay. It now comfortably covers both the main house and our Airbnb cabin even with both air conditioners running so our electricity costs are essentially neutral day-to-day. Plenty of sun in Greece, like Australia.

Guest consumables can be a bit trickier to optimise, as they’re tied closely to experience as you’ve stated. 

Looking forward to hearing more about your main cost area, there may be a few easy wins once those are clearer.