During the recession, families are forced to cut back on luxuries in order to keep money in the bank for life's unavoidable expenses. In lieu of taking an expensive, luxury vacation overseas, many families and individuals are opting instead for fake vacations at home which are creating a world of new business opportunities for entrepreneurs.
Staycations, are at the most basic definition, vacations at home. Staycationers can literally turn their own homes into luxury accommodations, or treat themselves to local activities that they would not regularly engage in. Or, staycationers can stay at inexpensive accommodations that aren't far from where they live to get the complete recession-friendly vacation experience.
The staycation business concept, began with literary editor, Bob Porter, who took the initiative last spring to transform his apartment in Oregon into a luxury hotel when he couldn't afford to travel. By placing fresh towels in his bathroom, individually packaged soaps in the shower, and a "Do not Disturb" sign on the door, he recreated the luxury hotel experience without ever leaving home. After his own staycation came to an end, Porter's entrepreneurial light bulb went off, and he realized that during times of recession, people are looking for wallet-friendly vacation alternatives.
Now that he's launched his own staycation small business out of his apartment, for $50 to $60 USD per night, Porter provides a fully-stocked mini bar, delivery from local restaurants, a maid service and a bible in the nightstand. It's just like at every other luxury hotel you've ever stayed at, only for a fraction of the cost, if you can just get over the fact that you're camping at a stranger's apartment in your own home town.
Staycation businesses certainly aren't recession-proof, since any money spent on self-indulgence can be considered an unnecessary luxury; however, it is a cool business idea with the potential for profit for those with the creativity to conceptualize the staycation concept. And, you will get the luxury of knowing you're helping others get a break from the daily grind for a cost much less expensive than a traditional vacation.
Via: The Staycation Vacation Headquarters, The Wall Street Journal