Taking on the big guys in multiple industries
I know quite a few people who have invested in the vacation rental industry and advertise their properties on big OTA platforms like Airbnb, VRBO, and Booking.com. But a lot of vacation home owners are frustrated by the big guys’ approach to refunds, booking revenues, and fees. There’s room for disruption in this industry, and today we’re talking to someone who’s setting out to shake things up.
Michael Kugler is a software engineer who invented VeeCal automated software back in the late 1990s. The sales he made from that company (which he still owns) allowed him to buy a resort in Branson, Missouri along with short term rental condos. Along the way, he was offered the opportunity to buy a lucrative URL - www.Vacation.Rentals -and jumped at the opportunity.
Michael and I spoke about his experience as a software engineer and how his success has allowed him to pursue quite a few other entrepreneurial opportunities. We also chat about his resort and rental properties, as well as his newest project - Vacation.Rentals - and how it is aiming to improve the vacation home experience for travelers and homeowners alike.
In this episode, we’re discussing…
Michael’s background in IT and programming and how his experience has shaped his entrepreneurial success.
Why he decided to buy a resort and rental properties after the huge sales of his first automated software VeeCal.
How Michael and his partners helped set their resort apart from competitors by making small changes.
The key reasons he and his partners are challenging the big guys in the OTA industry and developing a rental home platform based on fairness.
Why he invested over $500K on the URL Vacation.Rentals and how they’ve optimized the site for searchability.
How he and his partners are building a platform that travelers and homeowners will tell their friends about and grow organically.
Michael’s Top Tips:
You can use the funds from one venture to fund another – if you find success in one industry, you can invest your cash into another entrepreneurial pursuit you’re interested in. This is a great way to diversify your investments and continue learning about the changing industries in your area and beyond.
Look for differentiators in your industry – providing more service and capability at a lower price point is a great way to set yourself apart from your bigger competitors. You can also look for little ways to integrate helpful technologies that make a user’s experience better.
Build a platform that people want to tell their peers about – Michael and his team are building a platform that combines property management software and an online travel agency so they can overwhelm their customers with service and provide travelers with the best experience possible.
Resources:
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Michael Kugler | Vacation.Rentals | sales@vacation.rentals | (417) 230-0717
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ABOUT MICHAEL KUGLER
Michael Kugler is a software engineer who invented VeeCal automated software back in the late 1990s. The sales he made from that company (still in existence and still owned by him) allowed him to buy a resort in Branson, Missouri along with short term rental condos, now in their 17th year.
Along the way, he was offered the opportunity to buy a lucrative URL -www.vacation.rentals - and jumped at the opportunity. It has been a battle, but he is seeing the tide change especially in light of the fees and commissions the largest of the OTAs are charging now.
