Value Position
The Tracktown Townhome provides its guests with not just a comfortable stay, but a cultivated experience that highlights Eugene, Oregon’s rich track and field history through hands-on activities and amenities to infuse education and excitement for the local history.
The Problem
While Eugene’s hotels and rentals offer comfortable accommodation, they are often too expensive when university functions and sporting events are being held. They also lack the details and amenities that are needed to educate and entertain the guests about the area’s history and local attractions.
The 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. Eugene is a popular destination for athletes and other sports enthusiasts, who come to Eugene to track events and vacation.
Families with active children and young couples are the primary target markets:
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They are physically active and want the opportunity to burn off some energy in the comfort of their Airbnb.
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They are passionate about learning by doing.
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They know technology well and would like to experiment with the units.
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There is an enthusiasm for sports and famous athletes.
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They want learning and entertainment to continue beyond the Airbnb.
Competitors & Differentiation
Current Alternatives
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Additional rental spaces in the vicinity of historic Hayward Field
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A few local bed and breakfasts
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One boutiquehotel close to downtown
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Several chain hotels with standard hotel amenities
Why Use 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. The Tracktown Townhome is located close to the university so renters can hear and feel the excitement of sporting events.
Funding Needs
The target property costs $400,000. The property can be bought with 20% down and closing costs. Minor renovations will require $10,000. The estimated funding needed for furniture, kitchen outfitting, initial supplies, and initial funding of a “repair” fund is $25,000. The total cost of the initial funding 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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Instagram
Facebook
Marketing Activities
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Instagram
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Facebook
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TikTok
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Websites
Financial Plans
Ongoing expenses will include internet, TV & streaming services, utilities, yard maintenance, contributions to a maintenance fund, loan payments, taxes, and insurance. In addition to the cost of cleaning, general maintenance, and welcome gifts, guests also have to pay for their own expenses. Our initial occupancy rate is 60% with $300/night average revenue. We expect modest growth in the future.
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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Apply for necessary permits and licenses by May 1, 2023
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Finish renovations — June 1, 2023
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Add furnishings, amenities — June 22, 2023
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Take professional pictures of the space — June 30, 20,23
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Create a site and social media accounts — July 1, 20,23
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Business open — July 15, 2023
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Review Forecast — September 1, 2023
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Incorporate Eugene Marathon event package — April 15, 2023
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Hit 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
In charge of the establishment of the business, as well as the management of the fees and long-term upkeep of the Airbnb, Assists with day-to-day operations, including refilling amenities and responding to emergency maintenance requests.
Cleaning/Maintenance Service
Responsible for cleaning up after guests, and reporting any maintenance or damages to the owner.
Partnerships & Resources
These partnerships aim to integrate the Tracktown USA history throughout Eugene into the Tracktown Townhome experience. Partnering with these businesses will help create a more holistic experience while also providing exposure and support to local businesses throughout Eugene as well as a more curated experience for guests.
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