Why The Boat Rental Business Is Highly Profitable Yet Still Underrated
Boat hiring and boat rental services are tapping into the booming market of the experience economy. The consumers of the future prioritise experience rather than material items and want picturesque worthy experiences. This makes the maritime business highly attractive, and with the right knowledge, concept and boat design, boat rental can be a highly profitable business idea to start. This guide is based on the experiences that the GoBoat® License concept has had from opening and operating in countries like Denmark, Sweden, the United Kingdom, Australia, Croatia and many other countries to come. Having served more than 500,000 guests around the world and millions to come it is fair to say that we have become experts in opening and operating boat rental services. We hope that our guide will be beneficial to you when starting a new boat rental, purchasing an existing boat rental or considering to buy into a franchise business.
Where should you invest money to get good returns? Careful planning and execution ensure that your new boat rental business is well worth your time and investment. At GoBoat, license partners usually earn back the initial invested capital within the first four years of operating. However, this is only possible with a proven concept, a strong support system and a strong franchise model.
Before Buying This Yacht Dolman Owned A Boat For The Better Part Of Two Decades
This, combined with his background as a yacht skipper and a stint as a sailing instructor, means it is particularly meaningful for him to see clients find the same happiness in sailing that he has long felt.
“It’s actually quite enjoyable to be able to set that up,” Dolman said, noting that he loves interacting with clients and helping them see “a different side to things” out on the water.
What Are Vacation Boats Like
Many vacation boats to rent in the USA fall into the category of houseboats these floating vacation home rentals offering ample living and sleeping spaces, along with sun-drenched decks, full kitchens, and a water slide, of course. If you decide to go a little more upmarket, youll be able to enjoy amenities like hot tubs and jet skis, too. Floating homes and yacht charters can also be considered when planning a getaway on the water.
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What Should I Consider When Hiring A Yacht
The main points to consider are what is your budget, have you got the necessary sailing experience and qualifications to manage the boat if it’s not going to have a skipper, whom you are taking sailing, where exactly you wish to go and what will the weather be like on the proposed dates of your trip.
You Don’t Need To Own A Boatto Be A Boater
Before youre ready to buy your own boat, you can rent or charter boats of every size and type, for an afternoon, a weekend or even an entire summer. This way you can see which type of vessel and boating experience best suits your lifestyle before you buy.
Boat rentals are typically short term an afternoon or a day at the most the exception are house boats, which are often rented for up to a week. Most rental boats are small and easy to operate such as outboard power boats, personal watercraft, kayaks and stand up paddle boards.
Transport Canada does not require a PCOCfor boat rentals. Each rental operator has their own competency requirements and will provide on board and dock side safety training. This ensures that rentals are accessible to everyone and remain an easy, fun way to get on the water and start boating.
CHARTERING A BOAT
Chartering a vessel is more advanced than an afternoon rental. Chartered boats are typically larger and demand some level of training and experience to operate. People who charter a boat are expected to have their PCOCplus additional training and experience as determined by the charter company. Make sure you clarify their expectations before you book as most will ask you to demonstrate your competency and provide proof of training or your hours on board.
MORE BOATING OPTIONS
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Why Borrow A Boat
All boats on Borrow A Boat meet the stringent safety and insurance codes, standards and regulations for yacht chartering in their respective locations.
Widest Selection of boats
We act as a yacht broker for most of the boats which are available to hire globally. You can be sure that you will get maximum choice and the best prices.
We only work with boat owners and charter companies who meet our eligibility criteria. Boaters benefit from peace of mind when booking boating trips and holidays through Borrow A Boat.
Everything A Boater Needs To Know About Listing Their Boat On An Online Rental App
Boatsetters rental marketplace allows you to make money off your boats idle time with you in control.
Is your boat catching more dust than waves nowadays, but youre just not ready to part with her yet? We have a solution if youve ever thought How can I rent my boat? but never knew where to begin.
Boatsetter is the worlds largest peer-to-peer marketplace that provides a platform for boat owners and experience seekers to connect with one another. When you list on Boatsetters rental marketplace youre given the opportunity to make money off your boats idle time with you in control. Set your price, availability, rules and which renters you accept bookings from. Have we mentioned its completely free to list?
Below, weve provided you with enough information and plenty of tips to get your Boatsetter profile started today!
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Do Some Business Planning
Pretend to be a customer and browse the web for boat rentals near you. Figure out what you would have to pay, and what sorts of boats are available. If youre the only game in town, you will have more leeway than if there is a lot of competition.
Furthermore, look at how your boat stacks up. Are there are other similar vessels already available to renters? How much do they rent them for, and how booked up are they?
Another critical part of setting up your rental business will be figuring out what costs you are going to incur. Chances are, you will have to do some things to get ready for customers, and those things are going to cost you money. If the engine is running more often, it will need maintenance like oil changes more frequently. You may also need to upgrade your insurance policy. You might need to invest in a regular detailing service.
The most important reason to do all of this is to set your own expectations. While its impossible to get a real idea for how much demand there will be, knowing your businesss potential will make it easier to manage in the long run.
The Happiest Days In The Life Of A Boat Owner Might Be The Day You Buy It And The Day You Rent It Out See If Peer
If you want the joy of boating without owning one, peer-to-peer rental may be for you.
As boat owners, we all know that even when we’re not using our boats, they still cost us money. Slip fees, insurance, and maintenance don’t stop just because our boats are sitting at the dock. At the same time, there are lots of people who aren’t ready to invest in a boat, but who still want to get out on the water. To bridge these two boating groups, a new concept called peer-to-peer boat rental has emerged. Let’s take a look at how it works, and what to consider before you jump in.
For a few years now, people with underused assets, such as cars, bicycles, rooms, and even entire houses, have been connecting via P2P websites to others who want to rent them for a few hours, a day, or a week. Companies such as Airbnb, which allow people to rent out unused rooms on a daily basis, have been around for a few years, and the concept has now migrated to boats. With P2P rental, boat owners can collect some money on days their boats would otherwise sit at the dock or on the trailer. Non-boat owners can get on the water when they want, and let someone else handle the costs of ownership. Vacationers can rent boats far from their normal cruising area, opening up new waters to explore.
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Is There An Airbnb For Boats
To provide boat owners with tenants and aspiring boaters with seaworthy vessels, peer-to-peer boat rental companies have emerged.
The concept is similar to Airbnb in real estate which does not own any of its listings but receive a commission for renting out rooms to people only this is for the boating market.
With P2P boating services, people with underused vessels can rent them out for a few hours or days which would otherwise be gathering dusts in the marina.
For non-boat owners, this is also a great opportunity as all they need to do is to hop on board and let someone else handle the costs associated with the ownership of a boat. The best Airbnb for boats is BoatSetters.
Here, potential renters can browse boats of all types and size and find the one that suits their needs. Once they decide on a vessel, the company can handle all aspects of transactions for them.
Boat owners can set their own prices based on the market price as well as the deposit. This deposit cover contingencies like missing equipment like life jackets, minor damage, or not refueling the boat.
Insurance charges are also included in the price along with the deductible, which is around $1000. Many boat owners set the deposit in a way that it covers the deductible.
Of course, since your boat is a significant investment and your pride and joy, you also dont want it to fall into the wrong hands.
Smooth Sailing Ahead With Peer To Peer Boat Rentals On Boatsetter
Most boat owners only use their boat for a total of 14 days out of the entire year, which is why our services were created to give everyone the opportunity to create memories on the water with their loved ones. In partnership with BoatUS and GEICO Marine, Boatsetter has you covered. The rental program keeps your boat protected by providing peer-to-peer insurance coverage and towing during all rentals.This policy is customized just for Boatsetter and is only activated when you have a booking! This means our custom Peer to Peer policy will cover your existing recreational boating insurance for the duration of the rental.
Trusted captains are available through Boatsetter. Select captains from our large database of over 600 USCG licensed captains that will keep your boat in good hands. Are you an active USCG Captain? You can add your own captain credentials if youd like to find jobs in your area or captain your own vessel.
Boatsetter handles all payments, security deposits and user verification, so earning through our payment system is easy and secure. Our platform is easy to use and is supported by an around-the-clock team that assists every step of the way to support 1000+ listed boats.
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How To Rent Or List A Boat On Boatsetter The Airbnb Of Boats
Theres an old adage that your two best days with a boat are the day you buy it and the day you sell it. Its a joke about the pains of owning a boat theyre expensive to maintain and store, they break down at inconvenient times, and you never use them as often as…
Theres an old adage that your two best days with a boat are the day you buy it and the day you sell it. Its a joke about the pains of owning a boat theyre expensive to maintain and store, they break down at inconvenient times, and you never use them as often as youd like. But we think the fun of boating is worth the effort.
Plus, the sharing economy is here to cushion the cost of boat-owning. Boatsetter is a platform that is making boat sharing a reality. Like an Airbnb for boats, Boatsetter connects boat owners with boat renters. Owners get some cash from owning a boat and running it regularly. Renters get to spend a day or more on a boat and usually pay much less than they would from typical boat rental places. They also offer a special perk the option to book a captain with your boat.
In this article, well look into Boatsetter and how to rent a boat through the platform. Then, well dive into boat ownership and how to list your boat on the site. Finally, well answer some frequently asked questions.
Set Sail With Boatsetter
Just about everyone enjoys boats, but they are often too cumbersome to own. In that way, theyre perfect for this modern sharing economy through Boatsetter, boat owners can earn side-income when they rent out their boat on off days, and wannabe boaters get to ride the waves without making a massive investment.
Boatsetter lets renters find the perfect boat for their next trip and decide whether to captain it. Prices are easy to compare, and with instant book, you can find and rent the perfect boat in mere minutes.
Boatsetter gives owners an easy platform to create a free listing and connect with renters who want to take your boat out for a half-day, full-day, or longer. It also lets you set parameters on when, and to whom, you rent.
Boats shouldnt go unused. Let them free on the high seas with Boatsetter.
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Tips To Save Money On A Rental
If you are anything like me, you probably believe that saving money is a good thing and there are ways that you can save money on your boat rentals as well.
One way to save money on your boat rental is to try to avoid renting on the weekend. Weekend rates are more expensive because there is more of a demand.
If you want to have more time out on the water you can even save money by doing a multi-day rental. If you book for more than one day in advance it is likely they will give you a deal that you would not overwise receive if you book multiple single-day rentals.
Renting a boat for longer will give you a better rate per hour. If you only rent for a short period of time, you will likely have to pay a higher hourly rate than if you rent for a full day or longer period of time.
Another way to save some money would be to split the cost with the other passengers who are going with you if that is an option.
Vacation Boat Rentals In Kentucky
Heading to the Bluegrass State for your next boating vacation? The double delight served up by Kentucky Lake and Lake Barkley ensures you wont be disappointed. The former is known for its rewarding sports fishing and exciting lineup of water sports, while the water park in the latter makes it an equally popular pick for summer rentals. In between the two, the Land Between the Lakes Recreation Area offers plenty of reasons to explore on land too.
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Important Tips When Renting A Boat
If you dont have a boat, but you want to experience a fun-filled day out on the water, renting a boat might be exactly what you need.
Renting a boat is a great way to get the enjoyment out of the boat without all the care, upkeep, and cost that comes with owning a boat.
If you do not want to buy a boat and incur all the work and cost that comes with it, you can still rent a boat for you and your group to enjoy a sunny day out on the water.
Before you rent a boat, there are a few things you should know so I have compiled a list of tips for anyone considering renting a boat.
Be Prepared For A Deposit
Companies will often ask for a deposit before you check-out the boat.
This should not be a surprise as they will likely tell you what is expected up front when you make your reservation or this cost will be listed somewhere. Make sure if the marina expects a deposit you bring the amount in full.
You also will want to be prepared that the company could keep some or all of this deposit if they determine that you were negligent or somehow damaged the boat.
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It Is Probably Your Most Expensive But Least
The sharing economy is becoming a popular phrase. In essence it means that people with resources, like boats, share and trade those goods and services with people who do not. Airbnb, where homeowners rent out their spare bedrooms or whole houses, is probably the most visible example.
Many yacht owners will find that they have a valuable asset that sits idle for far more time than it gets used. And, even though its idle, it is still costing money moorings, maintenance, insurance.
But there are ways to turn it around so that your yacht starts to pay for itself.
In all cases we present here, ensure you have a conversation with your insurance company about what youre doing and check with the MCA or relevant local authority whether your boat needs to be coded for commercial use . If you keep your yacht in a marina, talk to the office there, too, to discuss what to do about parking, access fobs, keys and so on.
Rent your boat directly to other sailors via what is called peer-to-peer lending.There are several websites around where you can list your boat, including new company Plain Sailing .
A 30ft yacht rented out for day trips from Southampton could fetch £250 a day, for example. Of that, 15 per cent goes to Shareboat.
Owners worried about what happens to their yacht when its out of their hands can choose to hire it out as a skippered charter, with either themselves or a captain they trust on board with the guests.