The boat business itself isΒ funΒ and, like renting a car or RV, is a great way to earnΒ passive income. You can make money through peer to peer boat rentals, boat lessons, boat sales, etc.
How much money can you make from Boat Businesses?
Average people make $50,000 to 100,000 per year and good business men make more than $1 Million per year.
Fortunately, there are dozens of boat business ideas out there. Weβve compiled a list of 15 profitable boat business ideas to get you started today!
Here they are:
1. Start a fishing vessels and boats business
π° Average Annual Income: $50,000 /year
A fishing boat is a boatΒ used toΒ fish in the sea, lake or river. According to statistics, the increasing demand for fishing equipment in fishing technology will drive the global fishing boat market. Starting a fishing boat business can be a profitable endeavor. First, research the market and identifyΒ potential markets to focus on. Options in this business include building fishing boats, reselling fishing boats, renting fishing boats or repairing damaged fishing boats.
Before starting the business, research the required permits and licenses and targetΒ markets with high demand for your services.
2. Start a recreational boat rental service
π° Average Annual Income: $70,000 to 100,000 /year
Boat charter andΒ rental services are tapping into the burgeoning experience economy market. Today, most consumers prioritize the experience over the physical. Boat rental is necessary not only for tourists, but also for families, couples, friends and even solo travelers. Investing in the right recreational boat rental company can have a significant return on investment. Below are the steps to start a leisure boat rentalΒ business.
- Register your business name
- Licenses and Permit to operate
- Get equipment for the operation
- Hire staffs
- Organize your business
- Market your business
3. Start a kayak store
π° Average Annual Income: $60,000 to $80,000 /year
Kayaking has shown steady growth over the past decade. Based on the data, touring kayaks are expecting sales growth for the coming year. The demand for kayaks is attributed to increasedΒ fitnessΒ and health awareness. People around the world are becoming more and more interested in these sports. If you love water sports, you can open a kayak shop.
Your business can focus on renting kayaks for water sports tourists or manufacturing and selling kayaks at wholesale and retail prices.
4. Start a kayak rental business
π° Average Annual Income: $35,000 to $40,000 /year
If youΒ live near a lake or body of water, consider opening a kayak rental business. Kayak rental is an inexpensive, easy-to-use businessΒ without as much personal involvement. If you want to keep the business passive, you may want to do it by appointment only.
5. Start a boat cleaning service
π° Average Annual Income: $30,000 /year
Ship cleaning is a low barrier to entry for the high-margin, low-competitive business. If you enjoy working on boats and would like to start a boat business, this could be the best time to start a boat cleaning business. To start a boat cleaning business, targetΒ regions where boats are a popular mode of transportation and fishing. Promote your business and focus on providing superior service to keep customers coming back and referring others to your services.
6. Start a boat repair business
π° Average Annual Income: $27,000 to $66,000 /year
Ships break down just like cars, trains and planes. In the event of a breakdown, boat owners will contact a nearby technician for assistance withΒ repair service. According to reports, the global ship repair market will grow at a CARG rate of 7.6%. The growth is mainly due to the increasing acceptance of boats as a means of transport.
So starting your own boat repair business can be profitable. First, identify the boat repair services that you can offer in your area. Focus on providingΒ services to achieve customer satisfaction and get referrals.
7. Start a fishing boat charter business
π° Average Annual Income: $34,000 /year
Fishing charters are offered by board owners for professional or recreational anglers for a fixed time-limited fee or a custom fee to suit the needs of the group. Many people like to fish but only a few people have fishing equipment and their own boat. Also, owning a fishing boat may not be economical for recreational anglers. Therefore they prefer a fishing boat rental.
If you own a fishing boat, you can start the charter service and profit from your business. Appeal to those traveling on recreational fishing expeditions and even professional anglers who prefer to rent fishing gear rather than own it.
8. Start a boat equipment shop
π° Average Annual Income: $42,000 /year
Boat owners need different equipment to keep their boats safe andΒ comply with maritime laws and regulations. Basic boat gear includes:
- Basic first aid kits
- Safety accessories
- Fenders and docking equipment
- Personal floatation devices
- Visual and sound signaling devices
- Water skis, etc.
You can open an online shop for boating equipment and supplies, or open a physical store in the coastal area or where canoeing is popular.
9. Start a boat propeller business
π° Average Annual Income: $60,000 /year
A propeller serves as the boatβs drive train and is an important link between the boat and the water. The right boat shop focuses on selling new propellers to boat builders and boat technicians or repairing damaged boat propellers.
If you are starting a boat propeller business, do your research properly to find out where the customers are and who they are. Then set them up and focus on making quality propellers.
10. Start a boat storage business
π° Average Annual Income: $37,000 /year
Statistics show that recreational boat salesΒ have hit a new high, as has demand for boat storage. Hence starting your own boat storage business is an awesome business idea. Your target market is boat rental companies. and owner. The best place to start a boat storage business is along the coast where the use of boatsΒ is widespread.
11. Start a boat racing tournament
π° Average Annual Income: $100,000 /year
During the past few decades, boat racing has become popular in various parts of the world. Boat racing is a sport in which boats or other types of jet skis compete on the water. Boat racing tournaments make money from sponsorship money. You can work with a popular brand in your area.
Work on popularizing the tournamentΒ and other brands will want to participate as it is a way to promote their business.
12. Boat training business
π° Average Annual Income: $40,000 /year
Sailing instruction can focus on a variety of areas, including introductory sailing, advanced sailing instruction for those wishing to sail the high seas, and general ship safety and environmental protection for boaters. First, identify a target market and purchase the device your business requires.
Broadly promote sailing courses and focus on growing your business.
13. Start a boat sports blog
π° Average Annual Income: $35,000 to $40,000 /year
The water sports blog provides news and opinions on boating related topics and activities. To start a water sports blog, decide on the stories you want to cover, choose a blog name and buy a domain. You can make money by promoting boating gear and supplies on a water sports blog.
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