Vacation rentals are becoming increasingly popular in communities around the country. But it’s not always possible for property owners. Luckily, SkyRun Vacation Rentals offers a solution. Read about the company and its services in this week’s Small Business Spotlight.
What the Business Does
Offers a vacation rental franchise.
CEO Lukas Krause told Small Business Trends, “SkyRun Vacation Rentals is a rapidly growing multi-location vacation rental property management franchise with over 1,100 properties based in over 30 destinations nationwide.”
Business Niche
Providing the resources of a national brand with the personal service of local providers.
Krause says, “SkyRun is the best of both worlds when it comes to vacation rental management. With each location locally owned and operated, we deliver the hands-on service of a local mom-and-pop shop coupled with the technology and sophistication of a national brand. Armed with these tools, we alleviate stress and elevate experiences for homeowners and guests–making vacation rental dreams possible for everyone.”
How the Business Got Started
To fill a gap in the vacation rental market.
Krause explains, “??SkyRun was founded in 2004 by Barry Cox and Steve Falk. As second homeowners in Keystone, Colorado, both Barry and Steve found that the existing vacation rental management options at the time left a lot to be desired. Barry had a background in software development. And so, he took a stab at building a software solution that would help better serve his property’s needs.
“Over time, he saw that other property owners like him could greatly benefit from the software he’d created, as many were struggling with similar sentiments of the property management sectors lacking capabilities. Steve had a business and market development background and was able to help Barry sell his solution to other operators. From there, SkyRun Vacation rentals was born and has grown ever since.”
Biggest Win
Building a successful team.
Krause adds, “It’s the talent we’ve added and buildout of the SkyRun team that has been the most impactful success the brand is yet to witness. We have a specific vision for our growth and what it is we want to achieve on a year-by-year basis. However, we would have no chance of realizing that vision if there hadn’t been the recognition that SkyRun didn’t yet have a variety of key team members that would be crucial in getting us there.”
Biggest Risk
Franchising.
Krause says, “The most significant risk SkyRun ever took was in choosing to go the franchise route. This is because none of the men or women operating in the SkyRun Vacation Rentals system had ever signed a franchise agreement of any kind. So, any and all of them could have decided to renege on their involvement with the company, which would have left SkyRun in a financially vulnerable state, to say the absolute least.”
How They’d Spend an Extra $100,000
Rewarding franchisees and the team.
Krause says, “Given the stage of growth that SkyRun is currently moving through, it’s our people who are bearing the brunt of the weight in bettering the brand and helping to get us where we need to be. It’s an incredibly rewarding stage to be in and one that would make all team members well-deserving of some additional compensation, if available.”
Business Perk
Helping people realize their dreams of owning vacation homes.
Krause explains, “SkyRun gives individuals who have always wanted a vacation home the ability to realize that dream for themselves. Typically, the financial pressures of investing in a second property tends to be far too steep for the average person. But benefiting off of that second property through the financial means that SkyRun makes possible can help make the dreams of homeownership a reality for families. That’s what inspired a popular tagline of ours; we make dreams possible – not only for guests, but for the homeowners housing them.”
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Image: SkyRun Vacation Rentals, Lukas Krause
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