Boating is a great recreational
activity, however not many people can afford the luxury of owning a
boat. Some people cannot rationalize the purchase of a $15,000 boat
that they will use 5-6 times per year. Others have no place to store
a boat or do not know how to maintain a boat.The same people
would not hesitate to rent a boat for a day when they want to head
for the water. You can rent boats by the hour, half day, whole day
or even by the week.
Hourly rentals can range from $50 - $400 depending on the boat you
are renting. A large boat rented for a full day can cost up to
$1,000!
Your start-up costs for this business will be relatively high,
depending on how many boats you are going to buy to rent out. The
good thing about this business is that a boat purchase can be paid
off in as little as 1-2 months, which after that time will give you
100% profit each time it is rented. If you purchase more boats with
the profits this business yields, you can have a large fleet in no
time. If you want to stop running the business, you can sell your
boats and keep the cash as a nice little retirement nest egg.
To market this type of business, you need to be located near a
body of water (lake or ocean). You should partner with businesses
around the water and have them place posters in their stores for
you. You can even offer a referral commission for people who refer
customers to you. The more people that know about your boat rental
business the better. This is a great word of mouth business.
