Pro Tips for Optimizing Supply Inventory in a Short-Term Rental Business

Today’s expert guest is Wendy Doris. Experienced house flipper, host, co-host, and Hosting Business Mastery Method (HBMM) coach, Wendy loves the details, especially when it comes to the operations of her business. We lean into that expertise in this episode, jumping into the deep end on supplies as they relate to short-term rental listings.

Managing more than a dozen properties in the Phoenix area, Wendy set out to reimagine her supply chain operations – where, who, why, when, and how. We won’t spoil her story, but to let you know that she gets very detailed with the specific calculations she ran, hiccups and highlights, and of course, the bottom line financial results of what she’s implemented.

Her approach is a great example of why we run numbers in our industry – and how to avoid being paralyzed by them. 

The funny thing about the work it takes to set up efficient systems is that, if done effectively – they disappear from your to-do list! Wendy explains that she ideated on the program for six months before taking the leap and putting it into action. The results, as they say, speak for themselves. 

Big thanks to Wendy for taking the time to share this super niche but super valuable insight with the community today. We hope inspires you to take a closer look at some of the more mundane, ongoing costs in your business to see if a creative solution like Wendy’s might apply.

(00:01:24) #STRShareSunday: @CandyCabinsofBrokenBow

• Platform teepee – good example of creative differentiation 
• Coffee bar nook with cozy seating 
• Shout out to the legend, Bigfoot

(00:02:51) (Re)Introducing STR Co-Hosting Expert Wendy Doris

• Hosting Business Mastery Method (HBMM)
• Co-hosting website: mostess.host
• Currently responsible for 14 listings 

(00:08:05) Managing Stock of Supplies for an STR Business 

• What are short-term rental supplies?
• Spider web of supply chain complexity 
• Reckoning with the Arizona heat and a lack of storage 
• Wendy previews her new Supply Program 
• We run the numbers on per-guest supply costs 

(00:17:41) Supply Program Results & Reactions: One Year Later 

• Emptying existing stock before starting over 
• Shocking monetary results from her new Supply Program 
• Taking inventory into account
• Restrategizing storage and delivery 
• Added benefits of buying in (super) bulk
• Lowered costs for the owners 
• Other unintended positive outcomes 

(00:38:13) Other Tips & Tools for Your STR Supply Inventory 

• Breezeway’s new per-property tracking features
• Wendy explains her storage unit setup
• Does this concept apply to one or two properties?
• Correctly categorizing your expenses
• How Wendy creatively distributes bonuses to her team
• Co-hosting website: mostess.host
• Hosting Business Mastery Method (HBMM)

Download a transcript of this episode.

Resources:

• Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!
• Video: Airbnb Hosts: A Simple Supply System
• Airbnb Essentials Checklist: hostchecklist.com

#STRShareSunday

@CandyCabinsofBrokenBow

This week’s #STRShareSunday spotlight shines on Broken Bow, Oklahoma. Eye Candy is a beautiful and updated cabin nestled in the mountains boasting a massive deck so guests can enjoy the scenic views. These hosts have thought of everything! There’s shuffleboard, a black jack table, arcade games, a hot tub, an outdoor teepee hangout platform, and so much more. There’s something here for everyone to enjoy.

• Instagram: @CandyCabinsofBrokenBow
• Website: candycabinsofbrokenbow.com/

We would love to feature YOU, so don’t forget to use #STRShareSunday to get your chance!