Houses on the Lake
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The ideal customer is a husband and wife, with or without young children. What they share is the desire for a certain element of seclusion on their family vacation. Staying in a hotel, with others all around then, would not meet this need. They want to be in the seclusion that nature offers without giving up the comforts of modern living. Having both elements proves to this customer that they have earned the ability to get what they want out of a vacation and find the comfort of a hotel along with the joys of camping on a lake. The customer does not have unlimited means to pay for such a vacation, but has enough means that they feel that they should not have to sacrifice comfort for the joys of camping or vice versa.
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The U.S. vacation houseboat market includes vacationers who are both local and from afar, including other countries. Renters are interested in rental periods of up to a week and use the houseboat to travel within inland lakes for activities both on the boat and in the surrounding area.
The market is primarily segmented by age and family status, as these different groups have different preferences when looking at vacation houseboats. These groups are broken into younger couples, older couples, and families. Single individuals are generally not interested in renting houseboats. The most economical houseboat rentals sleep 14 to 18 or more individuals and are rented by 2, 3, or 4 families at a time (or up to 9 pairs of couples). Generally, these families organize themselves into groups and plan vacations together, although some services assist with matching groups to share rentals.
Research and Markets writes that "vacation rentals represent a more than $24 billion opportunity in the US - that's more than one fifth of all hotel room revenue and 8% of the total US travel market. And vacation rental consumers are a market to covet. They're well-off, well-educated, and they travel - a lot. Nine in 10 take at least four leisure trips a year."
The market discussed is based on vacationers to Northern California. However, vacationers who do not travel to Northern California or consider houseboats an option can be converted through exposure to Houses On The Lake's marketing and collective marketing for the industry. The estimated growth rates given show this expected growth in Northern California vacationers over the next few years. Due to an aging population, the market for older couples is expected to grow faster than other segments.
The key market segments for houseboat rentals are described more fully below:
Young Couples: Aged 21 to 39, young couples without children look for romantic getaways as well as high-energy activities (ski boats, hiking, diving, etc.). While some may be wealthy enough to rent a luxurious houseboat with all the extras, many have to stretch to rent a basic houseboat. It is more difficult for these young couples to put together a group large enough to afford a large houseboat, but they may be able to use smaller houseboats with fewer amenities.
Older Couples: Aged 40 and up, although some within this age bracket will still be very active and self-identify with young couples, older couples without children look for romance and relaxation. They seek quieter activities such as fishing, light hiking, etc. Some cannot use a boat that requires a great deal of physical exertion to operate.
Families: Couples or individuals with children. They require a mix of relaxation for parents and high-energy activities for children. They may also require creature comforts for the children, such as entertainment centers, which couples can do without on a vacation. Sometimes a few large families band together to rent a large houseboat. Other families are less inclined to do this and more interested in being alone with their nuclear unit.
Houses On The Lake will focus specifically on families with children and young couples at the lower end of the market. With each boat sleeping up to 6, a couple or family will be very comfortable on these boats. By avoiding the market for older couples, there is more leeway as to the type of boat that can be rented and marketing can be more focused. Also, by offering only houseboats on the smaller side (compared to those that sleep 14 to 18) the business can better stand out among the options for houseboat rentals on Lake Shasta. Offering lower price rentals without luxurious accommodations means that costs can be limited as well.
Families and couples we seek will generally:
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