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Boat

Owning a Profitable Boat Rental Company

Living in Wisconsin means there are plenty of opportunities for boating. After all, there are more than 15,000 lakes waiting to be explored. As such, having access to a boat is a great thing. However, not everyone want the responsibility that goes with a boat. As a result, this makes owning a boat rental company a great career or side hustle. Not sure? Consider this, according to Boating Basics, the boat rental market is expected to become a $280.02 million industry by 2028. Yes, there will be unexpected costs, but the bottom line is projected to be in the black.

As with any business venture, there are some behind-the-scenes tasks to be successful. From paperwork to repairs, there is always something to do.

Tips for a Successful Boat Rental Company

BoatDo your homework.

Look for a way to stand out from the rest. Consider partnering with a golf club or team up with a bait and tackle shop. Maybe, you can offer fishing camps or one-on-one instruction. Talk to a local deli about doing picnic lunches. Be creative and look for something that will make you get noticed.

Do the paperwork.

From tax forms to licenses and permits to registrations there is a plethora of paperwork. Getting it done and be sure you understand everything as this will make it easier to focus on your business later.

Choose boats for rent with care.

Your boat rental fleet doesn’t have to be the newest boats on the market, but you do want boats in top condition. It is vital the boats you rent are safe with no concern of motor stalling or sputtering. They should be free of leaks, and ride as good as they look.

Keep them maintained.

After every boat rental, be sure to clean the inside and outside of the boat. Consider having a checklist to be sure nothing is overlooked.

Safety first.

To have a successful boat rental business your clients must know that they will be safe while on the water. Be sure to have plenty of life jackets, throwable floatation devices, signaling devices, first aid kits, and other necessities for each boat.

Have common mechanical supplies available.

Boats need specific marine grade fluids and oils to run smoothly. Contact your local AMSOIL dealer The House of Syn to purchase lubes, oils, and other products in bulk.

Know the best spots.

While locals renting a boat may know the best place to fish, your out-of-town guests may not. Having charts, maps, etc. to share with them will make their experience more fun. Plus, it will earn you brownie points.

Owning a boat rental company is profitable business. Don’t put off pursuing a dream of being your own boss and doing something you love. Whether it becomes a full-time business or just something to do on the weekends, you will be glad you took the step to indulge a dream.