Interested in small houseboat business ideas? If YES, here is how to open a boat house rental business with no money and no experience. How much does it cost to start up?
How to Start a Boat House Rental Business
When you live near the water, there are numerous opportunities that will be open to you and one of the many opportunities is owning a boat house rental company. A boat house rental business is a lucrative business one which over time generate a considerable amount of income.
In time past only the rich can enjoy the luxury that comes along this service since they can purchase one themselves. Today, this opportunity is extended to any class of individual.
Families, students and couples who are willing to discharge off stress and get more connected to each other can enjoy this service as long as they have all that it takes!
Since house-boating is becoming a common hobby, this has given rise to the number of house boats owned or rented out every year. Despite the fact that boating experience can be different from one zone to another yet the primary reason for renting out a boat will always be met.
Boat House Market Overview
Presently, there are hundreds of thousand house boat owners, but there is more to that, most people due to the cost of acquisition offers their activities through house boat rental.
Apart from the cost, the maintenance is a point considered for those who resort into owing a boat house rental business. Irrespective of the varying differences in the rental services, anyone willing to enjoy the service can still go ahead within his budget, resulting in a rise in the boat house rental business.
Ways to Own a Boat House Rental Business
Basically, there are two ways in which anyone willing to start a boat house rental can go into the business. The first one is the process of purchasing a boat house and letting it out for rental service. The second way is by contacting people who owns house boats and are willing to rent out and then be the middlemen who will help in renting out.
Initial Cost: $2,000- $10,000
Part Time Availability: Yes; can be operated part-time.
Houseboat Rental Rates: $750- $1000 weekly.
Steps to Take in Starting Boat House Rental Service
Write A Detailed Business Plan
Just like any other business one is intending to venture in, one would need to write a business plan. For starting a boat house rental business, it is recommended that you write a detailed business plan which will analyses the structuring of the organization, the market analysis and the management structure.
The function this business plan will serve is to enhance those who would want to invest financially to do so if they find the business plan attractive and realistic.
Seek for A Permit
Those involved in a house boat charter requires permits which will include the business license and the tax identification number. Additionally, if your house boat renting service will involve food vendor and alcohol, an additional permit must be applied for. Furthermore, state laws differ from country to country, therefore a captain that will be on the houseboat must possess a U.S. Coast license.
Seek for an Insurance
House boat rental is associated with a risk, therefore, getting insured will cover up time and unexpected events. Since those on board can get hurt or even die on boats. You can do this with a broker that is familiar with the boat policies.
Lease or Purchase a Houseboat
After the business plan had been well written and the necessary permits has been granted, the next step is to think of either to lease or purchase a house boats. cost of purchase and of maintenance should be well considered.
Ensure the Houseboat is Properly Equipped
You must ensure the houseboats is fully equipped that is, it has all the necessary things required by clients. For example, it must have a toilet, first aid box, safety gear, vests, life rafts and fire extinguisher. Should there be an emergency, it will be easier to get off the houseboat safe and sound.
Stock The Charter Gear
Apart from the safety precautionary motives mentioned earlier. You must fill the house boats with stuff that will make experience there a thrilling one.
Yes, not everyone has heard about your products and services. You must be heard so that you can maximize profits. How do you carry out the advertisement of the houseboat rental service?
- Discuss with local marine who in turn will link you into the referral system and promote business.
- Create a website where you can regularly upload information regarding your service; the pictures of people who had fun with snorkeling gear.
- Extend the offer to the colleagues who works in the traveling industry
- Create awareness on social media platform.
There is no doubt as to whether starting a boat house rental business would be lucrative or not. Consider the benefit to be derived from a rental house boats.
Let us say you started the house rental business with approximately $10,000 and the number of houseboats owned is 10 in the rental pool. What will be the income?
For an average of 25 weeks in a year, a profit of $50,000 would have been generated, which is 4 times higher than the initial cost for startups.
Are you still contemplating on starting a boat house rental business? The decision is left for you to take!