Retention rates that withstand hurricanes! 2 vacation property management deals with Mike Harrington - Acquisitions Anonymous Episode 91

Michael Girdley (@Girdley), and Mills Snell (@thegeneralmills) are joined by Mike Harrington (@MHarringtonNC) to talk about vacation rental management businesses, the industry, 2 Deals, the best criteria to choose a market, operation specifics, and more.-----Thanks to our sponsor!Fleetio's suite of cloud-and mobile-based fleet management solutions enables fleets of all sizes to automate fleet operations and manage asset lifecycles. Users can instantly access and update data regarding planned and unplanned maintenance, fuel, inspections, parts, and much more. It also improves communication and streamlines issue resolution with its mobile app, email notifications, and reminders. Fleetio integrates with telematics solutions for automated odometer updates and DTC handling, and pairs with fuel cards to automatically log transaction data. Fully optimize your fleet by giving fleet managers, drivers, technicians, and other personnel access to the tools and information they need anytime, anywhere.Questions? Call us at 1-800-975-5304 or email [email protected]* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.* Do you enjoy our content? Rate our show!* Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.* Great Lakes Region VR Company* Colorado Ski-Market VR Company -----Show Notes:(00:00) - Intro(00:37) - Fleetio(01:55) - Mike’s background, business & vacation rental management(06:59) - Deal 1: 14 y/o Colorado Ski-country vacation rental management (11:17) - Does the reported revenue makes sense? They report 49 employees: what can you tell us about employees in the VR industry? Labor availability, regulations, geographic limitations(17:21) - What’s the correlation between business size and participative ownership?(19:41) - What’s been your experience when acquiring a new business and transitioning from the previous owner in the industry?(21:35) - What’s the implication of short-term rentals on revenue?(25:02) - Do you place your company listings on booking platforms?(28:08) - Deal 2: VR Management Firm(36:18) - Could you add a complementary business?(38:35) - What are the threats that you evaluate in this business?(41:20) - Why are fees in vacation rental companies higher? What is the differential service provided?(47:03) How would you go about Deal 2?-----Additional episodes you might enjoy:#83 Can you grow a business in a shrinking market? Featuring baller @WilsonCompanies as a special guest!#82 How Great Operators Win! How PE does it like pros - with Mark BrooksSubscribe to  weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking hereDo you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.Do you enjoy our content? Rate our show!Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.For inquiries or suggestions, email us at [email protected]