Why Strong Moats Aren’t Just for Big Tech: The Boondockers Welcome Growth Story

How Boondockers Welcome Built an Unstoppable Business Moat That Attracted a High-Value Acquisition

By Cheryl Powers

What Sets You Apart in the Market?

Here’s the truth: being “good” isn’t enough. The companies that dominate—those that attract both customers and acquisition offers—are the ones that create something their competitors can’t replicate. Think about it: what keeps customers coming back to you, instead of being lured away by the next shiny offer?

Take Apple as a classic example. Their unbeatable moat is their integrated ecosystem. Once you own an iPhone, the seamless connection with Macs, iPads, Apple Watches, and services like iCloud or Apple Pay creates an experience no other tech company can touch. They’ve built a web of value that traps their competitors on the outside looking in.

But let’s not make the mistake of thinking moats are only for trillion-dollar tech giants. The principles of building a defensible competitive advantage apply to every business. In fact, our data reveals that companies with a strong moat—a kind of “monopoly control”—are 40% more likely to get acquisition offers. Not only that, but these offers are often 25% higher than those made to companies without this edge.

How Boondockers Welcome Became Irreplaceable

To see how this plays out in the real world, look at Boondockers Welcome. Founded by Marianne Edwards and her daughter Anna Maste, this platform is best described as Airbnb for RVers. It connects travelers with hosts who allow them to park their RVs on their land for free. The hosts enjoy meeting like-minded travelers, and RVers get a unique and cost-effective place to stay.

But here’s where things get interesting. Boondockers Welcome didn’t just luck into success. They tackled the classic challenge of a two-sided marketplace: getting enough hosts and guests to build momentum. Here’s the kicker—this very challenge became their moat.

Why? Because achieving critical mass in a two-sided market is notoriously hard. Without a base of quality hosts, guests won’t join. Without guests, hosts lose interest. By solving this chicken-and-egg problem better and faster than anyone else, Boondockers Welcome built a barrier that was nearly impossible for competitors to scale.

Edwards had an ace up her sleeve: her years of writing travel guides and a loyal community of RV enthusiasts who trusted her. Leveraging this audience, she and Maste quickly onboarded top-tier hosts, giving them an early lead that no competitor could replicate. By the time others even considered entering the market, Boondockers Welcome had grown to over 3,500 locations, creating a network so valuable it would take years—and millions of dollars—to challenge.

Why Their Moat Led to a Big Payoff
This stronghold didn’t just attract customers; it also caught the attention of Harvest Host, a complementary membership service for RVers offering unique camping spots at wineries, farms, and more. Recognizing the undeniable synergy between the two platforms, Harvest Host’s CEO, Joel Holland, approached Maste and Edwards about partnering.

At first, the answer was no. But Holland saw what others didn’t: Boondockers Welcome wasn’t just another startup. It was a fortress built on an unbreachable moat. So, he played the long game, asking them to name their price.

Here’s where it gets fun. Edwards and Maste didn’t just come up with a number—they doubled it. After some negotiation, Holland agreed. Just weeks later, the deal closed, marking a successful acquisition that underscored the power of building a defensible position in the marketplace.

The Takeaway
Here’s the challenge for you: what’s your moat? What makes your business so valuable that customers won’t leave and competitors can’t replicate? Don’t settle for incremental improvements. Create something so unique, so defensible, that your company becomes the obvious choice—not just for customers, but for acquirers willing to pay a premium.

Your goal isn’t just to compete. It’s to dominate. Build your moat, and watch your value skyrocket.