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Elevator Pitch

We know the short term rental business is booming, have you struggled to keep up with demand? CheKin automates all your repetitive manual government compliance work while streamlining you guest check-in process. We've got your back while you focus on meeting demand.​

Understand your Product

​CheKin provides clients with the ability to automate their check-in for their short term rental properties. This is accomplished via a web UI that is shared with the guest that allows them to complete an online check-in process. CheKin also uses this platform to provide guests any important information and ensure all compliance/terms and conditions are communicated effectively. Finally, CheKin has an extensive integration marketplace with many government entities and various WiFi connected smart locks to automate property access and ensure compliance is meant from the authorities.​

Problem statement:

Different geographies have different compliance requirements in order to legally operate a short term rental business. This tends to lead to tedious back and forth with guests hindering their experience and adding repetitive manual work for clients creating friction for growth. ​

What does the product do for the client:

• Visibility on all bookings & check-ins across their properties
• Automated compliance management for guest data to the authorities
• • Includes integrations with required government entities
  • Includes ID verification
• Platform for other legal documentation management to protect clients
• Basic software to support guest experience optimizations

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What does the product do for the client's guests:

• Easy web online check-in to get remote access to the property
• • Depending on the lock, access can be provided via the web link
• Access to some value added services (if provided by client)
• Clear access to all relevant and required information for the booking

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Product alignment with problem statement

The main problem statement surrounds the entire automation of legal compliance. The features that allow the user to do this that exist are the following:

• Integration with government authorities
• • Direct data push to relevant authorities
  • Visibility on compliance and regulations are also automatic. A property manager does not actually need to know what documents they have to send as CheKin does it automatically.
• Guest experience - collecting documents and relevant data from the guests staying at the property
• Online signatures and legal compliance
• • Allowing clients to create legal documents and have them virtually signed by guests and shared with any authority.
• Data visibility and reporting of all check-ins.
• • This allows property managers to have validation of their compliance and ensure everything is above board.
  • Creates trust and ease of mind

Supplementary features that are not relevant to main value prop:

• Value added services on the product
• • Ability to sell some services to the guests while using the check-in feature
• Collecting demographic data for personalization and marketing use
• Payments management
• • Checkin allows property managers to collect deposits and manage other payments for value added services and damages
• ID verification during check-in to ensure safety for guests and property managers
• Performance analytics to show property managers how well they are performing over the month
• • This is highly dependent on what features the property manager is using from CheKin.
  • Also collects data from any PMS integrations that are available

Performance

Yearly revenue of $4.7 million with 80K active properties. CheKin has completed more than 15 million check-ins across 45 different countries.While these numbers seem quite large, the interesting caveat is that the real value proposition that CheKin brings to the table (discussed in the next section) is the legal compliance element. This tends to require integrations with the government authorities - CheKin only has these integrations across 15 countries. The other properties use the other supplementary features that CheKin has showcasing a bit of a premature market across the globe. Lack of aggressive competition globally and very simple onboarding have allowed CheKin to enter markets easily. This also makes it easier for CheKin to understand which market to go into next. Its for this reason CheKin would be defined in the arl

Understanding Core Value Proposition

While there are many softwares that handle check-in/out process for short term rental companies, CheKin's unique core value proposition is its focus on automating the legal compliance of each property with local authorities.

The value is realized during the time of the booking, when the manual work of sending all the required data to the authorities is automated. CheKin knows from the country & city exactly what data and to who it needs to be sent to. Specific information is provided by the client to the account number with the government (as seen in the image above). Due to the sensitive nature of the data and this process it is important that CheKin establishes a form of trust and visibility with clients and guests alike which is seen in the dashboard showing the status of all automations. ​

Understanding the Users

Interviewed five different people from four companies that are clients/ex-clients of Chekin. The focus of the interview was to quickly understand what their main problems were and how Chekin plays a role in solving them. ​

Understanding your ICP

B2B

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Based on the criteria the preferred ICP would be ICP 1 due to their overall willingness to solve the specific problem that CheKin focuses on. With ICP 2 there is the thought process that it can be potentially handled manually if scale isn't a larger priority or if the founders are not tech savvy.

The main issue that can be seen with ICP 1 is that they usually have other softwares in place and integrations are vital in order to easily adopt those clients. This could cause friction. Furthermore, these clients may have already used similar products that offer features that overlap with CheKin's offering. Even though the focus is different, there still could be a challenge with adoption and changing existing solutions.

Understand Market

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Market Size

​Total number of holiday homes for short term rentals = ~10 million via https://vacationmasters.com/the-2024-short-term-rental-market-outlook/

Total number of hotel rooms globally = ~17million https://www.minut.com/blog/short-term-rental-statistics

Average revenue per property will be $15 a month; $180 a year - assuming all teirs and number of properties per client change the price per property​

TAM = $4.05 billion

Target market includes short term rentals managed by property managers not individual hosts (approx 45% of the market based on Airbnb https://www.buildupbookings.com/vacation-rental-statistics/)​

SAM = $4.86 billion x 45% = $2.18 billion

Branded hotels will be low penetration compared to short term rentals due to long sales cycles and red tape. 40% are branded hotels. Now focusing on western markets with actual legal compliance that focuses on the value prop approx. 30%​

SOM = $2.18 billion x 30% = $654 million​

Current Acquisition Channel Analysis

Focused Google SEO​

CheKin currently has optimized SEO for inbound searching where it is fulfilling intent. This is mainly prominent around specific & focused search keywords. The first one being around integration with authorities.

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The second really prominent use case is searching the main value proposition from the perspective of the ICP's problem. This is more of a high level intent search that CheKin is fulfilling that scores very well on Google.

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Integration Partners

CheKin is integrated with PMS softwares that allow for easy data transfer from the OTAs (Online travel agencies like Airbnb & booking.com) to the CheKin software. This encourages easy adoption of clients and has been one of the more successful forms of acquisition. Some examples:

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Authority Partnerships

In order to acquire clients, the main value proposition states that CheKin should be able to automate the compliance with the governing authority. In order to do this CheKin integrates with these sytems. The issue with this channel is that in order to get those integrations, usually CheKin requires volumes of clients in that region to already have adopted the solution. While the brand name does help supplement this, it isn't enough to guarantee a partnership

Designing Acquisition Channel​

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Detailing your Acquisition Channel

Paid Ads

Currently CheKin is not running any paid ads. All of the search intent is coming organically and through partner integrations.​

In order to calculate the feasibility of Paid ads, first some assumptions need to be maid. Considering the ICP priority list, the clients that would be targeted with paid ads would have more than 100 properties. A private quote by CheKin has stated that for 120 properties the per property per month value would be $3 with the enterprise deal.

On average considering SaaS within this space the assumption is that clients will stay on average 2 years.

Average LTV = $3 x 120 x 12 x 2= $8,640

This LTV is substantial enough to consider paid ads as an option. The ICP prioritised for this acquisition channel are larger entities who tend to have teams focused on software solutions and operational efficiencies. Based on this CheKin's existing organic SEO is quite good in fulfilling the intent however, their other channels are non-existent. Based on this the Linkedin can be utilized to generate value where the ICP decision makers and influencers would be:

Linkedin holds easy access to many decision makers who are actively in the market for new solutions for their operational issues. This is true for both ICPs.

The pitch ICP1

1. Struggling to scale? Operational inefficiencies hurting your margins? Automate your check-ins and give your guests a great experience while give you the time to focus on what really matters.

2. Struggling with legal compliance for your holiday home business? We've got you covered. CheKin provides fully automated systems to automate your entire check-in process and allow you to give your guest the focus they truly need.

​The pitch ICP2

1. Its time for you to grow your business! Time spent dealing with operational inefficiencies are likely the reason you're spending more time with guests and less time getting more properties to your portfolio. CheKin automates all your legal compliance and guest check-ins to allow you to focus on where your business need to go, rather stuck where its at.

Ad format

The best Linkedin format would be targeted messages to relevant companies in the field. Expertly crafted messaged based on the client profiles and the pitches above would encourage businesses to interact.

Another great form of ad content is the Listicle format shown to be 31% more effective than other forms on Linkedin specifically.

Message Structure:

1. Greetings

2. Relate to problem statement based on the pitch

- Struggling to scale?

- Struggling with compliance?

- Struggling with margins?

3. The solution - what does CheKin do?

- Showcasing some success data points

4. The sell; Free two week trial period

5. The call to action

- Calendly link to sales exec

- Link to 14 day free demo

Budget

The average cost per send is around $1.

Assuming 1K messages sent, the target audience can include the decision makers and other influencers for each business. This is more relevant for ICP1, for ICP2 the budget can be much lower as usually the number of influencers is smaller and therefore there are less people to reach out to per client. Assuming for ICP1 65% of messages are sent to unique clients and assuming a 1% conversion rate. This results in a CAC of $153.

For the listicle, the cost per click on average is around $7. With an average CTR of 30% and a conversion of 3%. Assuming 1000 impressions, that means $2,100 dollars spent to acquire 9 clients creating a CAC of $233.

Regardless of the form, the CAC:LTV ratio is 37:1. These are extremely favorable odds and will change depending on the actual conversion of the ads. In the case these number are accurate, then the budget should be increased drastically due to the great value of this channel.

A separate note is that the cost of the ads will also differ based on the targeting of the ads with the Listicle costing closer to $10 per click - CPS usually wont exceed $1 as that is on average the higher side of the spectrum.

Message example

Subject: Struggling with manual operations for your legal compliance?

Hi <insert name>,

Are you facing challenges with compliance and guest registration at your properties? If so, you're not alone—many property managers find these tasks time-consuming and complex.

That’s where CheKin comes in. Our software automates guest data collection, secures digital signatures, and ensures seamless compliance with local regulations. We’re integrated with major PMS systems, making the entire process smoother and more efficient.

In fact, our clients have reported up to a 70% reduction in administrative workload and a 30% increase in overall efficiency since implementing CheKin.

Would you be interested in a brief conversation to see how CheKin can help you achieve similar results?

Looking forward to connecting!

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Creative example for Listicle

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Are you facing challenges with compliance and guest registration at your properties? If so, you're not alone—many property managers find these tasks time-consuming and complex.

Here are 5 reasons why property managers love CheKin for compliance and guest registration:

1. Effortless Compliance: CheKin ensures your properties are always compliant with local regulations, automating guest data collection and digital signatures.

2. Seamless Integration: Our software integrates with major PMS systems, so you can manage everything from one platform without the hassle.

3. Time-Saving Automation: Save hours on administrative tasks. CheKin’s automation reduces your workload by up to 70%, freeing you to focus on what matters most.

4. Enhanced Guest Experience: Provide your guests with a smooth and professional check-in process, making their stay even more enjoyable.

5. Proven Results: Our clients have seen a 30% increase in efficiency since implementing CheKin, leading to happier guests and streamlined operations.

Check out the free 14 day trial today! Click here!

Product Integrations

As discussed earlier in the report CheKin has established strong integration partners with government/police entities that allows them to fully automate the check-in process for the guest and for their clients seamlessly. The problem with this is in general it is difficult to land those integrations making the main value proposition diluted and vulnerable to competition in regions where it doesn't exist.

As part of their offering CheKin talks about the full seamless guest experience, including added value services. Based on user interviews, 40% of ICP1 companies on average have stays that last at least 10 days. Out of those, a staggering 80% ask hosts for on demand housekeeping services.

Another sought after request is airport transfer. This is common for international guests and is requested by about 60% of international guests. Some property managers also suggest that it would be even more if it was proactively given as an option. Booking.com has even incorporated it into its value proposition considering the demand.

The experiment

In order to penetrate new markets and acquire clients enough to make a convincing argument for government authority it would make sense to integrate with tech companies that supply these services.

Airport pick up:

Welcome pick up has open APIs that allow for companies to integrate with them and offer airport pick ups. This solves a strong need for the clients as it allows them to improve the guest experience and even capture some of that revenue (rev share model). Currently CheKin only provides the software to make internal services available, elements that the host may offer themselves. The infrastructure is ready, just a matter of creating direct bookings.

https://www.welcomepickups.com/

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Housekeeping:

Some housekeeping companies have internal ERP systems that have open APIs, this would be a very simple integration where jobs can be shared. An example in the UAE is FAB cleaning. FAB cleaning also manages 4,000 properties which provides direct access to them.

These services will allow clients to provide very easy and required services to their guests. It enhances CheKin's offering by simple integrations and optimizing its value prop until government integrations can be made to fully capture the client.

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Both these integrations also provides access to their own clients considering there is a win-win partnership. They get CheKin's clients and vice versa.

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Referral Program/Partner Program

Types of referrals for CheKin:

• Personal referral
• Distributor

Personal referral

As a client, a personal URL can be shared with other clients that has their personal tag. Once that tag is used for a conversion then both parties would get a discount. The amount discount would depend on the budget but ideally it should be discounting the first 3 months for the new client and adding around a 10% discount to the yearly fee for the referrer.

Referral link location:​

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Distributor: ​

This form of referral is disassociated with current clients but focused on more industry experts. The idea here is to allow for people to apply to be distributors in places where CheKin does not have a strong presence. The reward here would be commission on the sales.

Approval process would be in place to ensure this person has the required expertise to represent CheKin at trade shows and other events.