The gig economy is coming for your backyard pool.
Swimply, an app founded in 2018, has grown to include about 15,000 pools in the US, Canada, and Australia, CEO Bunim Laskin told Business Insider. Last month, the company said it raised $10 million in a funding round led by Norwest Venture Partners.
The app lets owners list their pools, where potential users can then book them by the hour. It’s a common concept in an economy where people are used to catching an Uber ride in someone else’s car or finding a vacation home on Airbnb.
“For a long time, the American dream was to be able to have that level of privacy,” that a private pool offers, he said. “Right now, we’re seeing consumers go toward experiences more, but still valuing the perks of having your own assets” — without the costs, he added.
For homeowners, renting out their pool can provide much-needed cash at a time when owning a home has become pricier than ever. Homes are selling for more than ever, mortgage rates are still high compared to their early-pandemic lows, and other costs, such as homeowners association fees, can also add up.
Laskin says that Swimply’s model benefits from the high cost of building and maintaining pools.
In-ground pools cost $65,000 to build on average and between $3,000 and $6,000 a year in electricity, chemical treatments, water, and other inputs, according to pool accessory company Pool Guard.
“There’s a lot of ongoing maintenance,” Laskin said. Many owners ask “why they’re paying for something that’s not being used,” all the time, he added.
Most people who list their pools on Swimply are what Laskin calls “casual hosts” who tend to put their income toward pool maintenance. Others, Laskin said, build businesses around their pools, offering additional services and facilities for parties, for example.
“We’ve seen owners offer barbecue packages, date-night packages, and poolside masseuses for additional costs,” he said.
Some of those users then use their profits to reinvest in their backyard. “Now, they have a more epic backyard, and start charging more and gaining more traction for their pool,” Laskin said.
Hot tubs and other venues are part of Swimply’s growth plans
Laskin said that Swimply has room to grow. There are about 10.7 million pools in the US, according to the US Pool and Hot Tub Alliance, which represents more stock to add to Swimply’s app, Laskin said.
Swimply still relies mostly on word of mouth to recruit new pool owners to its platform, Laskin said. To attract new customers, though, it’s getting a little more creative: This year, he said, Swimply is launching a summer pass to give its most frequent users a discount.
The company is also eying new verticals. Last year, for instance, Swimply started listing hot tubs on its platform. Laskin said the company is also working to offer swimming lessons by listing swim instructors who can provide private lessons in pools on the app.
There’s also potential to add more types of facilities to Swimply, Laskin said, from basketball courts to music studios.
“Our vision is to expand this to all spaces that bring people joy and let them activate their passions,” he said.
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