Startup Model – Home Swapping

THE MODEL: A platform where users can find different homes in their destination of choice and swap them with their own. Users can either swap directly with other users or can use points earned to find houses they can stay in.

STARTUP: LoveHomeSwap (British startup)

WHAT I LIKE

Core Idea – Home-swapping is a great way to travel on a budget and also get an authentic experience of the place you wish to visit.

Swapping Protection- The startup also provides users protection against accidental damage and booking cancellations. This is able to create trust, which probably is the main bottleneck in users using a service like this.

Encouraging Travel – One of the biggest constraints in travel is the budget. Home swapping is able to address that quite reasonably.

CONCERNS

Safety – I feel safety of users and properties is a crucial factor in the transaction. The startup, in addition to providing insurance, should also vet their users well before adding them into the community.

Startup Model – Home Swapping Community

THE MODEL: A home swapping community platform for members. Members can share their homes to other members looking for a place to stay in exchange for points. These points can then be used by that member for staying at another member’s property. Hence the swapping is non-mutual and flexible.  

STARTUP: Trampolinn (French startup)

WHAT I LIKE

Core Idea – Home swapping between users helps build a strong community and saves money for them.

Benefits to Users – Members of the community can share their homes to earn points which can be redeemed when they require a place to stay. This saves money on accommodation, which is a major expense during any travel plan. Also a member can travel like a local with the help of the host.

Ease of Use – Members looking to share their homes can simply create a profile for it and start sharing to earn points. Members looking for a place can browse through the different options and make contact and finalise on the platform itself.

Influencer Marketing – The startup is looking for people from all over the world to become ‘Ambassadors’. Their responsibility will be to spread word about the concept, get coverage, organize events and so on. The startup is offering them special points and access to the most popular properties on the platform.

Trust & Security – This is a big problem in the house swapping business. The startup uses online security for its website and also does multiple security checks of its members to address security issues during any home stay. Users are also advised to by a insurance plan, specifically designed for the housing exchange market.

CONCERNS

Competition – Housing exchange has emerged as a big market with some well established startups in it. For them to develop a points system may not be that difficult to execute.