Taking a break from work and resting, or going on a brief vacation to break up the monotony of daily living, might help you feel more refreshed, invigorated, and productive at work. Many investigations and studies have demonstrated the fantastic advantages that even a brief break may have on one's intellect and productivity. Sadly, we are unable to take sufficient vacations due to time or financial constraints. But happily, we now have a remedy. This company helps you with all those problems so let's delve into this article to read their story.
Kipstay Startup - Key Highlights
- Startup Name - Kipstay
- Founded - 2015
- Founders - Achintya Dayal & Arjun Raghunandan
- Sector - Travel
- Headquarter - Bangalore
- Website – www.kipstay.com
- Parent Organization - Poshmiles Online Solutions Pvt. Ltd.
Kipstay Startup – Staycation Startup
Kipstay manages a network of homestays within a 2–5-hour drive of major cities, outfitting them with amenities and renting them out at night. Kipstay got created to change the way people think about short getaways. The Kipstay homestays' experience, location, and designed to let guests unplug, detox, and recuperate from the stresses of everyday life.
Kipstay transforms existing/abandoned housing stock within a short drive of the city into something more functional for the current generation while still being environmentally conscious. Unlike holidays, which can be costly and far away, Kipstay is reasonable (beginning at INR 1500/night), far enough to feel remote yet close enough that you don't spend all of your time are traveling there.
Kipstay Founders - Achintya Dayal & Arjun Raghunandan
Kipstay got founded by Achintya Dayal and Arjun Raghunandan. Achintya and Arjun had been friends since elementary school, and in their final year of college, they founded Pyxis Networks, an event management company. They co-founded Kipstay after Achintya graduated from Manipal University and Arjun from Ramaiah Institute of Technology.
The founders placed a strong emphasis on assembling the right team from the start, bringing in top talent to join Kipstay's core staff. Kipstay's workplace culture prioritizes individuals over processes.
Kipstay Startup – Brand Name and Logo
- Brand Name – Kipstay is derived from 'Kip' and 'Homestay.' 'Kip' is slang for sleeping over at someone else's place in the city. Homestay is a private house that rents out rooms to paying visitors for brief periods.
- Logo – The Company’s logo is in catchy shades of blue.
Kipstay Startup - USP
Vacations are desired by 8/10 people to relax, de-stress, and reconnect with family and friends. However, holiday preparation takes 4-7 days every trip, is costly (avg. INR 1 to 2 lakhs), and is limited to once a year due to a hectic lifestyle. Therefore, Kipstay's main selling point is that it allows you to take a much-needed getaway without spending a fortune, and because it got located near cities, you may plan frequent short trips.
Booking homestays as an alternative to hotels in India is also irritating on many levels: the experience is unpredictable, pricing is opaque, listing information and images are wrong, and trust difficulties abound. Kipstay is an answer to these issues.
Kipstay - User Acquisition Strategy
Kipstay began as a marketplace for people to find and book homestays and they later added tools (Kiplist) to help owners manage their properties. It featured almost 300 homestays in 30 different areas, but bookings were extremely low. When chatting with consumers and receiving direct feedback, the Kipstay team realized that they were not looking for cookie-cutter experiences when they booked with them. Instead, travelers looked for retreats that provided a genuine experience, reliable customer service, and basic facilities.
In Chikmagalur, Kipstay opened its first property, which customers well accepted. They sold three months of weekends in the first week of the opening, with winter bookings being made four months in advance.
Kipstay - Startup Challenges
The most challenging problem the Kipstay team encountered was persuading the landowners to rebrand their property and allow Kipstay to handle the technology and operations while they focused on hospitality. However, considering the financial benefits that Kipstay provides to property owners, many house owners quickly stepped forward to partner with Kipstay.
Kipstay - Competitors
Similar companies in this area include.
- Airbnb
- HomeAway
- Sykes Cottages
- AvantStay
- misterb&b
Kipstay - Awards & Recognitions
- Top 30 startups at the Amrita TBI Pitchfest
- 2018 Y Combinator Startup School (Graduate)
Kipstay Startup – Growth
- Since its start, Kipstay has serviced over 10,000+ tourists, with an average occupancy rate of 70%.
- In the next six months, Kipstay plans to open ten new locations.
Kipstay – Business and Revenue Model
Kipstay began as a marketplace for finding and booking homestays and tools (Kiplist) to assist owners in managing their properties. To provide a better experience, the company then switched to a network of branded getaway homes.
Kipstay has a straightforward revenue model. It aids homeowners with the management of their brand, operations such as guest communications and marketing, distribution through their website and app, and other third-party channels. Kipstay charges a portion of the overall booking it creates for all of these services.
