Boost Your Business with a Vacation Property
By Christopher S. Cain*
Copyright© 2005, Christopher Communications, Inc. All rights reserved.
Low interest rates and baby boomers are fueling the red-hot vacation property market. Consumers in record numbers are buying vacation property to add fun, excitement, enjoyment, and status to their lives and a solid real estate investment to their asset portfolio. Some buyers purchase a vacation property as an eventual retirement home. Others buy as a bottom line investment seeking high appreciation rates.
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There are dozens of buying motives, but if you own a business, you may have additional incentives. A vacation property can be a great business booster.
First, and foremost, a vacation property can serve as a great stress buster for the business owner. Daily doses of long hours at your business, management duties, ultimate responsibility, and daily decisions that affect the viability of your business can take a toll. A vacation home provides the ideal hideaway to get away from it all. Your property is your private retreat where you can rest, recuperate, relax, and recharge.
Besides personal benefits for you and your family, you can use your vacation property to promote your business, increase sales, motivate and reward employees, and develop rapport and relationships with key customers.
Here are a few "business booster" ideas from Chapter 30 of my recent book, "Road Map to Your Vacation Property Dream":
· As an incentive, reward key employees by giving them the use of your vacation property (could be a weekend, a week, or longer).
· Use your property for your "Employee of the Month" program. For example, the monthly winner gets a free weekend at your luxury condo at the beach.
· Hold staff meetings at your seaside property or at your a-frame on the ski slopes. Get out of the office and into a more relaxed and private environment. Employees will welcome a business trip that breaks the routine. After your meeting and breakout session, get everyone to participate in a two-mile walk down the beach and back. Prepare a special seaside luncheon or on your deck to add to this memorable, productive, and morale boosting business outing.
· Take your top management to your property review the strategic business plan for next year. You can accomplish a lot without the interruptions of a busy office.
· Reward your staff with a Super Bowl Party at your property. Hold your Holiday Party at your vacation property.
· Use the venue for a customer meeting, or provide a weekend at your retreat for key customers.
· You have delayed writing your speech for the upcoming industry trade show annual convention. Plan a day or two by yourself to focus on the task. You can write and rehearse your speech. Your vacation property gives you the privacy, serenity, and comfort to get the job done.
A final thought -- many vacation property owners appreciate the rental income from their property because it helps pay property expenses. Many business owners have a customer base that translates into potential renters for their vacation property. For example, one of my real estate clients recently purchased a vacation town house in Orlando. He owns a lawn service company with 15,000 customers. Periodically, he can include a flier describing his Orlando vacation property, to his customers with their bill for lawn service. He might include a discount on his rental rate to keep his customers satisfied and keep his town house fully occupied.
Learn more about Chris Cain and his properties for sale
*About the Author -- Chris Cain wrote "Maximize Your Resort Property Investment" (1984), and "Road Map to Your Vacation Property Dream" (1998). He has written dozens of articles on vacation property and speaks on the topic. Chris is an EscapeHomes agent and sells luxury vacation property in Orlando, FL. Chris bases his writings and counsel on his 16 year ownership experience of a seaside villa at Kiawah Island, SC. His recent book, "Road Map to Your Vacation Property Dream," is available for $9.95 plus $4 S&H when ordered direct by calling toll-free 1-888-822-6657. Contact Chris Cain at vacvalue@aol.com.