Cottage Industry 3.0: The Future of Hospitality is Coming Home
Brilliant innovations have come from pandemics in the past: the invention of the toilet, sewer systems, even the paving of roads and urban planning and hygiene. As the vacation rental industry emerges from the coronavirus pandemic, the most thoughtful owners and managers are looking back in time in order to predict and defend our future.
The original cottage industry consisted of family artisans making products such as shoes, locks, and jewelry out of their home, oftentimes on the side of a day job in the fields. These products, they would then sell to a distributor for sales.
But when the industrial revolution came along, machines that could make these same products faster and cheaper in turn made our cottage businesses obsolete.
Cottage Industry 2.0 was and still is, the small-batch movement. The microbrews, soaps, and wines that you know and love: that you prize for their personality and charm.
Then along came vacation rentals: cottages in an eerie sense of the word. Our industry is channelling the greatest features of the original cottage industry but turbocharging them into the future with the use of technology.
VRMB's Cottage Industry 3.0 roadmap is based on five core pillars you must emphasize at all costs (or risk being made obsolete by big box property managers):
In this concept we argue that due to unbridled demand, vacation rental managers must spend all their resources focusing on the things that cannot be mass-produced. And how utilizing technology in a few of these areas is the secret factor bringing the cottage industry into the forefront of hospitality.
Cottage Industry 3.0 critically yet optimistically explores a million dollar question...
Thank you for the opportunity to share with you our vision for Cottage Industry 3.0. As a member of VRMB Communities, access full recordings, case studies, and how-to discussions around the this workshop and more.