The service that started with two friends trying to make their ends meet by lending out their mattresses to other people has today become a brand that is now a multi-billion venture.
Airbnb, the global brand has brought the concept of peer-to-peer vacation accommodation to every corner of the world, irrespective of how small a city or town is.
The market or rather the industry that Airbnb has created for itself, as we will see in a while in the article, is one that is not just expanding at a wide rate across the globe but is also the one that is witnessing new entrants on a real-time basis – something that has led to the rise in demand for the answer for: How much does it costs to build an Airbnb clone?
The aim of this article is to find just that.
So, let us start with taking a sneak peek into how big the Airbnb market is and the potential it comes with.
The State of Airbnb Market
Seeing what you just saw – a rising Airbnb market – a number of entrepreneurs have entered the space with their idea of Airbnb clone app.
Now before we move on to looking at the factors that come together to estimate the cost of making an app – features that should be present in your Airbnb like app and the tech stack that will be used before coming on to the development cost of apps like Airbnb, let us look into a set of competitors who have emerged as the top market players in the industry created by the tech giant .
Now irrespective of what the competitor outlook of Airbnb is and how many new entrants the industry witnesses, the list of features that are commonly present in all the Airbnb like software are common on multiple levels –
1. Registration
The second and most important screen of any application holds its importance equally in case of Airbnb like app development. To make it easy on your end-users you should give them the facility to sign-up or log in the application through social media.
2. Profiles
As we just saw now, when you invest in the process to build an Airbnb clone, you don’t invest in one but three versions of the application – host, guest, and admin.
Now, profile wise, although all three versions will have them, the Host and Guest versions will be the ones that have the most extensive profiles. At the profile creation stage, you will have to fetch answers regarding users’ name, email id, date of birth, phone number, payment mode etc. and then connect it to your robust backend structure so that the information is all safe.
3. Wide Filter Options
One of the best things about Airbnb is its filtration facility. The app gives users a very wide variety of filtering options ranging from property type and cost range to date and exactness of the location.
They even give the users to put in their specific interest and then finalize on basis that.
4. Room Details
There are a number of the basis on which users decide on a room. They might look at the uploaded images, the view visible from the room, reviews and ratings, room description, location of the property room rent, TnCs, etc. They also often make the decision on the basis of the host reviews, along with several other factors like the period of stay, type of services offered and the facility to pay at the property.
And thus, it is of absolute importance that you have a room detail interface ready.
5. Translation
With the help of google translator, users are given the option to translate all the description in the property listing in their mother language. With this apt use of localization, your Airbnb like the app cannot just reach more local language users but also increase the engagement levels by manifold.
6. Map Incorporation
Maps are the foundation of Airbnb app development. The facility is your only way to enable the users to choose the exact location where they wish to spend their vacation in. The idea is to have the map integration so strong that even the remotest of the locations get fetched in the application.
7. Backend Implementation
Server-side part of the application is one of the most difficult ones to develop, especially when the application deals with multiple users interacting and making payments in a real-time note.
The backend development on this note has to be extremely rigorous and proper to ensure that the Airbnb clone app works exactly it is supposed to.
8. Messaging
Sending and receiving messages is a very important element of apps similar to Airbnb. In addition to giving the hosts and visitors an option to remain connected through messages, you will also have to give a push notification functionality to update the hosts and visitors/guests of the reply on their messages.
9. Add to Favorites
The option gives the guests the facility to save the property for booking later or simply for the purpose of shortlisting from all the different options.
10. Invitation to Friends
Airbnb like apps gives users the option to send an invitation to their friends, which in turn can act as a profitable mode of promotion for your business.
The idea is that you should users the facility to send an invitation to their friends over social media, messages, and/or email.
11. Multiple Settings Option
The settings option that you offer to the users should have multiple options – profile edit, acceptance on whether or not to send push notifications, the chosen payment methods, and the facility to modify the wishlist.
The more you give options to your end-users, the more they will feel at home when working around your application.
While these are those features that are most commonly present in all clone apps and play a role in deciding how much does it cost to develop Airbnb app clone, the technology stack is also more or less the same in the case in all varieties of Airbnb clone apps and so is their contribution in the final Airbnb app cost.
Now that we have looked at almost all the factors that would be of interest to your partnered Airbnb app developers – the market of Airbnb, the feature set that usually goes into the Airbnb like app development, and the technology stack, it is time to look at something that would be of direct interest to you as an entrepreneur investing in one – The Monetization Model or a direct answer to How does Airbnb Makes Money? Something that is an important part of the answer to how to make an app like Airbnb
Let us look at it in the next section before we summarize the estimate of Development Cost of apps like Airbnb.
How Does Airbnb Make Money?
A.K.A. What Should Be Your Airbnb Clone App’s Revenue Model
The Airbnb revenue model runs on the listings and the stays. Airbnb offers a platform where these listings and bookings are made and this is where Airbnb earns from. Airbnb revenue comes from two major sources:
Commission from hosts:
Everytime someone chooses a host’s property and makes payment, Airbnb takes 10% of the payment amount as commission. This is one of the components of the Airbnb fee structure.
Transaction fee from travelers:
When travelers make payment for stay they are charged a 3% fee for the transaction. This amount adds to the Airbnb revenue.
So, if you wish to go by the Airbnb model, here were the two revenue sources. But, in case you wish to take a different route, you can plan revenue inflow around sponsored properties, making hosts super hosts as part of your premium model, among other ways.
Well now that we have looked at almost everything that concerns you and the Airbnb app developers directly, it is time to look into the answer to – how much does it cost to create an app like Airbnb.
How Much Does it Cost to Develop Airbnb App Clone?
The answer to how much would it cost you to develop each Airbnb-like feature, while is a glorious and wide It Depends, if you are going with the must-have features that we shared developed using the technology stack detailed and count in the hourly resource charges, the amount of Airbnb app development cost will come somewhere around the range of – USD 54,800 to USD 56,500.
But then again, it depends entirely on what your exact peculiar requirements are before we can answer the question with an utmost guarantee.
Well, with this we have officially prepared you to get onboard with Airbnb app development and now let’s part ways by giving you a look into the pointers you will have to attend to have a smooth running business.
Here we go, the last parting section.
Pointers to Consider For Making Your Airbnb Like Business Model a Success
A. Cancellations Policy
More often than not, your hosts and guests will have to face the situation of cancellations wherein booking might get canceled from both ends – something that not just harms them but also your business.
To handle situations like these, you should have proper cancellation policies in place. You can keep a fixed amount in name of cancellation charges according to the property types.
And to promote hosts from not canceling the booking, you should them incentives and badges to motivate them.
B. Currency Exchange
Usually, people use Airbnb like applications for cross country travel and in a situation like that, it helps in having a proper currency exchange program in place.
What you should do is have a currency exchange in place wherein you automatically convert the amount in the currency type accepted by the host’s nation and charge a fixed percent on the transaction as conversion and exchange risk fees.
C. Property Price Fixation
While the nightly charges of the property, the cleaning fees, and the extra guest charges are something that is dependent entirely on the host, you will have complete autonomy on the service fees that you charge from the host and visitor alike.
Other than these, ensure that you are including the following in the process of booking from Airbnb app cost in every listing –
- Currency Exchange Fees
- Value Added Tax
- Any Location based Taxes
So here was the last section with the three-pointers that you should consider to ensure a smooth and profitable running of your Airbnb business. Now that you have seen it all, there is just thing left to do – Getting started!
Get in touch with our mobile app developers today and start on your Airbnb like a multi-billion journey.
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