Business 101 teaches that the basis of successful entrepreneurship is to find a need and fill it. That’s why I enjoyed reading this USA Today piece, which focuses on homeowners seeking to rent their homes to convention-goers in Tampa and Charlotte who may not be satisfied with a traditional hotel room. It’s an interesting look at the markets in each city and what happens when self interested parties put out feelers to see if a market exists for their product/service. How successful – or unsuccessful – these folks are remains to be seen. With any business endeavor, some succeed and some don’t. Regardless, this piece illustrates market forces at work and why an unfettered marketplace is a fascinating place where anyone can succeed if they’re willing to be creative and flexible.
Charlotte and Tampa officials say they have enough hotel and motel rooms to handle the crowds. But some listed their homes just in case people wanted an alternative to hotels. They’re banking on landing visitors who didn’t plan ahead and need a place to stay and also targeting big groups with deep pockets, such as lobbyists who want more space to entertain.