A Brooklyn-based company that offers small, very small, cabins in quiet spots not far from big cities is drawing significant equity investor interest in these days of the pandemic.
Getaway just announced that it just raised another $41.7 million, giving it more than $81 million in private equity interest since it was launched by a pair of Harvard students (post-graduate business and law) in 2015.
CEO Jon Staff told TechCrunch in an article published this week that it will use the money to add at least 17 more Outposts to the 21 it had at the end of 2020.
A simple business model for the simple life
The business model is simple. Getaway offers small clusters of tiny cabins within a two-hour drive of 11 major metro areas, from Portland, Oregon, to Boston to Dallas to D.C. The cabins are spaced 50 to 150 feet apart and feature contactless check-in (in fact, no personal interaction with staff at all), individual fire pits, and no common areas.
The cabins also don’t come with Wi-Fi but they do have lockboxes visitors can use to distance themselves from their phones during their stay.
Getaway predates COVID-19 by five years, but business is now booming. Staff, the CEO, told TechCrunch that bookings up are up 150% year over year and that the Outposts are operating at nearly 100% capacity.
The Millionacres bottom line
Getaway -- whose founders made their mark on Shark Tank -- is marketing its Outposts as a way to disconnect from the incessant demands of a digital world, and the market appears to be responding. There appears to be opportunity for copycats here, too, if so inclined.
For instance, there are a plethora of options for similar accommodations in the world of tiny houses for those ambitious enough to try it themselves. And there's a lot to be had in the way of rural areas and open land an hour or two from even the largest metro areas.
The company’s website makes plain its strategies, too, and they look smart and straightforward. Nothing on there about franchising, but there is a link for folks "who work for a brand" and believe there’s a good opportunity to work together.
Interesting possibilities for ambitious real estate entrepreneurs to contemplate. In fact, Getaway makes it quite easy to reserve a weekend and get away from it all to think about it, so that may be a good way to start!