iTrip logo

iTrip

Short-term rental property management
Investment
$111,500
Initial Franchise Fee
$10,000 - $30,000
Units
117
Growth Rate
+28.6%

Overview

Industry
Business Services
Founded
2008
Franchising Since
2015
Parent Company
Inhabit
Leadership
Vickie Storm, GM/CEO
# of Employees at HQ
20

Units and Growth Chart

About iTrip

Founded in 2008, iTrip is a rental property management company. Vacation property owners founded the company because they were unsatisfied with obsolete ways of managing their properties. The company began franchising in 2015 and its headquarters are located in Brentwood, Tennessee.

iTrip gives franchisees the chance to build a lifestyle business at a location of their choice. Preferably, this will be a place where many people like to visit and spend their holidays. Each franchisee may earn a commission on rental bookings and income generated from rental fees charged to the guests.

As a franchisee, you'll provide a full-service rental management program to guests and homeowners on vacation. You'll manage the entire process, including adjusting pricing, preparing and listing properties, handling guest requests, and supervising cleaning and maintenance. You may also acquire more properties to grow your business. This entails presentations and meetings with homeowner associations, local real estate agents, and more in order to gain more clients.

Why You May Want to Start an iTrip Franchise

With over 80 franchises across the U.S., iTrip has a proven business model. Members of the iTrip headquarters' team will visit your market when you first open to help with operations, sales, and networking. You will not be left without support and guidance from the company. 

There's no equipment or inventory to buy when franchising. All you need is a smartphone and a computer. The company's structure is virtual with automation and efficiencies that allow you to operate your business right from home without many expenses. With low startup costs, you may be in good shape to begin your own iTrip franchise. The vacation rental market has ignited, and iTrip is there to help you grow your franchise. 

What Might Make an iTrip Franchise a Good Choice?

iTrip total investment includes a franchise fee and other startup costs. You will also need to meet a minimum net worth and have liquid capital. Be prepared to pay a monthly franchise royalty fee, as well. It would be wise to speak with your financial planner when you are ready to buy a franchise.. 

With many Americans wishing to take vacations, iTrip offers franchisees a chance to enter a growing business. 

How Do You Open an iTrip Franchise?

An ideal franchisee is someone who has previous business experience, a strong work ethic, a desire to follow the iTrip model, and financial stability. 

As you  progress through the iTrip franchise process, you may receive an invitation for an interactive training program. Here, you will discuss the business model and what an investment may entail,among other aspects of the iTrip business model.

Franchisees will be assigned a support consultant who will guide them through the startup of the franchise location. Before franchisees open a franchise, they must also attend mandatory training in Brentwood, Tennessee. This will give franchisees an in-depth knowledge of managing the franchise's daily operations. 

Investment Details

Initial Franchise Fee
$10,000 - $30,000
Initial Investment
$111,500 - $153,000
Net Worth Requirement
$200,000
Cash Requirement
$130,000
Royalty Fee
4%-6.1%
Ad Royalty Fee
to 1%
Technology Fee
$540/mo.
Term of Agreement
10 years
Is Franchise Term Renewable?
Yes
Financing
Third Party
Veterans Incentive
10% off franchise fee

Available Territories

Franchising opportunities available in the following regions

United States

Training & Support Programs

Comprehensive training and ongoing support to help you succeed

Training

On the Job Training
28 hours
Classroom Training
21 hours

Ongoing Support

Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Proprietary Software
Franchisee Intranet Platform

Marketing Support

Co-op Advertising
Ad Templates
Regional Advertising
Social Media
SEO
Website Development
Email Marketing

Operations & Requirements

Key operational details and requirements for running this franchise

Is absentee ownership allowed?
No
Can this franchise be run from home/mobile unit?
Yes
Can this franchise be run part time?
No
# of employees required to run
0
Are exclusive territories available?
Yes

Ranking History

iTrip performance in the Franchise rankings over recent years

Additional Rankings

Curious to know where iTrip ranked on other franchise lists? Find out below.

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022