We can all agreed that taking care of a boat really costs money. So what if there was a way you could offset some of those costs and make a boat pay for itself? Chartering your boat for others to use is the first way that springs to mind for most, and we have already looked at the various ways you can set off down that route.

From bareboat charters to crewed yacht charters, from yacht charter agencies to charter ownership schemes, you have lots of options. The size and age of your boat might dictate which charter options are open to you, and you will need to decide how involved you want to be.

You might decide you want to manage the charters or even captain them, or prefer to hire a skipper and crew, or let a charter agency do all the hard work. 

Chartering isn’t the only way however to bring in some money and enjoy your boat at the same time.

This article takes a look at some creative ways that your boat can earn its keep, or even be a nice little money spinner.

• How Can I Make Money With my Boat?
• Is Boat Rental a Good Business?
• Can You Make Money Chartering Your Boat?
• How Much Money Can You Make Chartering a Sailboat?
• Boat Business Ideas
• How to Make Money With a Fishing Boat
• Boat Charter Business Ideas
• How to Make Money With a Sailboat
• How to Make Money in The Marine Industry
• Make Money From Your Boat
• How to Make Money in The Boating Industry
• How to Make Money as a Boat Captain
• Boat Ride Business
• How Expensive is Living on a Boat?
• Is There Money in Flipping Boats?
• How do I Get Insurance When I Rent a Boat?
• What is The Best Boat For The Money?
• Is Buying a Yacht a Good Investment?

How Can I Make Money With my Boat?

1. Offer Sightseeing or Photography Cruises

Viewing a destination from the water has always been a popular activity, and you can offer private boat tours along the coast for a couple of hours up to a whole day. If it’s a warm destination, full day tours could include beach picnics and swimming in pretty coves, or you could go in search of secret spots, lonely lighthouses or magnificent cliffs as part of a two-hour photography tour.

Read Also: How to Start a Boating Business

This can be a great option if your boat is in an area popular with visitors, as locals are less likely to sign up for these kinds of tours in big enough numbers to make it worth your while. Sunset cruises are also highly sought after, and you could throw in a glass of bubbly and some nibbles to create a really special experience.

If your boat is big enough you could even offer small weddings aboard! Be flexible and creative with the tours you offer and it’s a great way to make money with your boat.

2. Partner with a Dive Centre

If you’re in an area which attracts scuba divers, talk to local dive centres and see if they need an extra dive boat during the peak season. By adding tank holders and the necessary fittings to your boat you could captain divers and their guides to local dive sites.

If you wanted to go a step further you could even run day or overnight dive charters yourself, although keep in mind that you will need certifications from PADI, SSI or other organizations if you want to have a compressor on board. 

3. Run Private Fishing Trips

Fishing is big business the world over and, if your boat has the ability to be used as a fishing vessel, it could be a successful and lucrative business. Whether it’s deep-sea fishing, or coastal forays, beginner’s trips, or a charter for a group of keen anglers, you can tailor your trips accordingly. You can offer half-day, full-day, or even overnight trips if your boat has accommodation space.

Keep in mind that if you’re not already set up for fishing there might be some extra outlay as you get all the equipment installed, but you can make it as simple or as complicated as you choose. Be sure to check local regulations and ensure you and your guests have the right licenses and follow the rules. 

4. Conduct Sailing Lessons

If you’re an experienced sailor you can offer a personalized, hands-on teaching experience on your yacht. Whether your students are completely new to sailing and want to get a feel for it, or preparing for their exams and need to put in some additional sea hours, you can guide them along the way. If teaching isn’t for you, you can offer your boat as a training yacht to qualified instructors. 

5. Run Dolphin and Whale Watching Eco-Excursions

Wildlife watching is always a popular activity, and if you’re lucky enough to live somewhere with regular sightings of dolphins, whales, seals or other marine life than you could run eco-tours for visitors. Wildlife watching tours tend to only be a few hours, especially as they’re popular with families with children, so you could offer a couple a day in peak season.

Many areas are, quite rightly, strict when it comes to the numbers of boats offering wildlife tours and how close you can get to them so animals don’t feel crowded and stressed. Do your homework, find out how much competition you have, what the rules are and what your chances of spotting wildlife are. Ultimately, you want happy guests and positive reviews. 

6. Start a Blog

Blogging and vlogging are going nowhere fast and if you can express yourself with words or images then why not start your own one? Once you get a following, the money will start coming in, whether it’s through affiliate links, advertising or even charging a membership.

It’s important to find a unique angle, and tell your story in an engaging, honest and interesting way. Whether you’re good at writing or feel you can better express yourself through video, then go with what suits you and stick to it. There are many bloggers out there who make a good living whilst sailing the world. 

7. Bring Paying Crew on Board

There are more wannabe sailors without boats than the other way around which means people are willing to pay for the experience and adventure of becoming crew on your boat. If you have (or want) to do an extended crossing, connect with crew willing to pay to gain experience. It might just be a share in the fuel and food costs, but it all helps. There are various websites connecting boat owners and sailors with reviews and resumes. 

8. Advertise Your Boat to Film Crews

Make contact with media, advertising or film companies who are often looking for the right location for a photo shoot or as a prop in a movie. While your boat is unlikely going to star in a Hollywood blockbuster, there are smaller, local companies who will pay to use your boat for a day or two.

You’ll need to be flexible and available on short notice but get the word out there are you may very well get some commissions. It’s worth noting that classic-style yachts tend to be more sought after for this type of work. 

9. Deliver Cargo

From the glittering lights of the movie world to delivering cargo might seem a bit of a step-down, but it can also bring in some extra cash. Transporting goods across borders entails a whole host of complicated tax and customs regulations, however, within a country you could offer to move fresh produce, local crafts or spares and parts. Get your name out there and through word of mouth you may find the calls start to pour in. You get to set your own schedule, enjoy cruising.

10. Become a Water Taxi

You could ferry passengers between islands, down rivers or across lakes. You could have a set schedule or offer private pick-ups and drop-offs or even a chauffeur for the day service.

Guests will love being picked up from their hotel and dropped off outside a waterfront marina, or spending a day on a remote beach before being picked up later in the afternoon. This flexible and fun business idea works in most destinations, whether it’s the middle of a city or in more far-flung locations.

Is Boat Rental a Good Business?

Where a business is located and the type of market that business can tap into are two of the key factors that help determine business success. In the boat rental business, these factors can influence the entire operation, including the types of watercraft for rent, the pricing structure, and even the regulatory requirements for the business. It is imperative that business owners carefully assess locations and markets before venturing into business.

Ideally, a personal watercraft rental business should be located within easy navigation of large bodies of water. This can include access to oceans as well as larger lakes or reservoirs. High volumes of tourists visiting the area are beneficial; tourists are the lifeblood of many boat rental companies.

The characteristics of waterways in the area can also help business owners determine what types or styles of watercraft to rent. On larger lakes or oceanfront locations, powerboats and personal watercraft (PWCs) like jet skis are popular choices.

Yachts with overnight or weekend accommodations also make sense for rentals near larger bodies of water. In less open locations, such as on rivers or smaller lakes, small powerboats, paddleboats, and craft like kayaks or canoes may make more sense.

Can You Make Money Chartering Your Boat?

Chartering your boat for others to use is the most common way of earning an income from your boat. The charter market has long been a thriving industry, with charterers willing to pay good money for the private use of a boat, whether it’s a luxury yacht, a weekend sailboat, or a fishing day boat.

Indeed, the COVID-19 pandemic has seen this sector grow hugely, as people seek out socially distanced holidays that they can enjoy with small groups of family and friends. 

There are a  myriad of different ways you can charter your boat, and the best part is that you can stay firmly in the captain’s seat (proverbially or not) as you decide which set-up works best for you.

Choosing to charter your boat yourself is one option, you will need to advertise your boat, liaise with charterers, make bookings, hire a captain and crew (or captain it yourself, once you have a commercially endorsed license, commercially insure the yacht and provision your boat. While this option means you save the commission costs of a charter agent, there is a lot more work involved for you…time you could be spending on your boat yourself. 

Boat charter agencies are set up to do the hard work for you. In return for a set commission (typically between 10% – 20%), they will ensure all paperwork is in order, liaise with charterers and your crew, source professional skippers, offer a comprehensive contract, and make sure everything goes smoothly.

Whether you’ve got an 80 metre (260 feet) motor yacht to charter or a 12 metre (40 feet) catamaran, there are specialist charter agents the world over, offering everything from bareboat charters to crewed charters

How Much Money Can You Make Chartering a Sailboat?

Bareboat charters are the least expensive option. Yachtico, an international booking platform, has yacht charters in places like the Bahamas, Greece, and Thailand for well under $5,000 a week. Bareboat charters are also popular in the U.S. Pacific Northwest in places like Anacortes, Washington — known as the gateway to the state’s San Juan Islands — where 64-foot boats can be chartered for around $1,600 per night, depending on the season.

Cabin charters can be even less expensive, though these are priced per person. Dream Yacht Charter has week-long cabin charters in places like the British Virgin Islands, Mauritius and Bali for as low as $1,200 per person.

For private crewed yacht charters, rates are generally thought to start around $10,000 but lower prices can be found, albeit on smaller boats. A three-cabin catamaran can be chartered for a seven-night trip around St. Lucia in July for around $7,000, inclusive of a cook and a skipper, through The Moorings.

For luxury superyachts, it’s not uncommon to pay $150,000 per week. The largest and most impressive superyachts in the world — such as the 312-foot megayacht Kismet owned by Jacksonville Jaguar’s owner Shahid Khan, which Beyonce and Jay-Z were spotted on in July 2018 — can command over $1.3 million for a seven-night stay.

Boat Business Ideas

Do you want to start a boat-related business but you want to go niche? If YES, here are 10 best profitable boat business ideas & opportunities for 2021.

1. Sale of Fishing Vessels and Boats 

Sale of fishing vessels and boats is no doubt one profitable boat related business idea that is open to investors. Fishermen usually sail and fish on the high sea and they need fishing vessels and boats to be able to do this. This goes to shows that there is a large market for those who sell fishing vessels and boats.

So, if you are interested in starting a boat-related business, then one of your options is to open a shop that sells fishing vessels and boats.

2. Start Fishing Vessels and Boat Rental Business

There are some fishermen who don’t own their own fishing vessels and what they usually do if they intend fishing is to rent fishing vessels and boats. So, if you live around a fishing community and you intend starting a boat related business, one of your best options is to go into fishing vessels and boat rental business. The truth is that this type of business can thrive in fishing communities.

3. Start Fishing Vessels and Boats Servicing and Repair Business

The fact that fishing vessels and boats are usually subjected to wear and tear makes serving and repair business a viable boat related business that can be started in a fishing community. If you have engineering background and you are looking towards starting a boat related business, then one of your options is to open a business that specifically repair, service and maintain fishing vessels and boats.

4. Fishing Vessels and Boats Production Plant

Another thriving and profitable boat-related business that you can start is to open a fishing vessel and boat production plant. This is one business that can produce and sell its products all across the globe. In order to get your own share of the market, then you must ensure that you follow the trends in the industry when it comes to designing of fishing vessels and boats.

So also, you must ensure that you produce various types of boats to appeals to different types of clients. You can produce sail boats, yacht, motorboat, catamaran, cabin cruiser, ski boats, pontoon boats, lifeboats and house boats et al.

5. Open a Boat Consignment Shop

There are several stuffs that can be sold in a consignment shop and if you are looking towards starting a boat related business that requires minimal startup capital, a business that is thriving and profitable, then you should consider opening a consignment shop that deals in different types of second-hand boats and accessories; a place where people with low income can purchase neatly used boats and accessories.

There is a large market for secondhand stuffs all over the globe. So, if you intend starting a simple boat business, then you can open a boat and accessories consignment shop. It is important to locate this type of business in a riverine area that is densely populated by people of low income.

6. Start Recreational Boats Rental Services

Another thriving and easy to start boat related business idea that can be started in a beach area is recreational boat rental services. If you have been to a beach area or resort, you will agree that fun seekers usually rent different types of recreational boats. This business can generate income steadily especially if the business is located around a beach that welcomes loads of visitors and tourists.

All you need to do is to ensure you have different types of recreational boats. Recreational boats include ski boats, pontoon boats, and sailboats, lifeboats, flatboat, Halkett boat, inflatable boat, kayak and house boats et al. House boats may be used for vacationing or long-term residence. Lighters are used to convey cargo to and from large ships that are unable to get close to shore.

To easily get the kayak to and from the water you need a kayak carts.

7. Production of Boat Propellers

If you don’t have the financial capacity to start a boat production company and you are interested in starting a boat related business, then one of your best options is to start the production of boats component parts and boat propellers readily comes to mind.

The fact that boats can be propelled by manpower (e.g. rowboats and paddle boats), wind (e.g. sailboats), and motor (including gasoline, diesel, and electric) shows that there is indeed a pretty large market for boat propellers. Boat propellers usually get damaged and will require replacement. You can even go into business agreement with boat production companies so as to be a supplier of boat propellers to them.

8. Boat Cleaning Business

Have you ever thought of how boats get cleaned? Of course, there are cleaning companies that are specialized in cleaning boats. The truth is that boat cleaning is an easy business to set up in the United States of America, and it is indeed a profitable business venture especially if you locate the business in a riverine area where residents make use of boats.

A boat cleaning business requires low startup capital, and you can be rest assured to attract loads of customers if you know how to deliver excellent jobs. The amount you can make per day is largely dependent on your ability to market your service to ship owners, water transportation companies, ferry operators, fishermen and other boat owners.

9. Start Fishing Boat Charter Company

If you are interested in the fishing industry and tinkering with launching a business as an aspiring entrepreneur, one of your best bets is to launch a fishing boat charter business. The right time to start such business is now because this business concept is presently at its growing stage.

Fishing boat charter businesses engage in Inshore/coastal fishing, offshore fishing, tournament fishing and commercial fishing; they provide charter boat fishing services for individuals, parties and companies. Please note that fishing boat companies may vary greatly in size, ranging from large operators with a fleet of vessels to single boat owner-operators and part-time charter companies.

10. Start Boat Storage Business

Another thriving boat related business idea that an aspiring entrepreneur can successfully start is a boat storage business. If you live near a popular body of water, boat storage is a must and offers a lucrative opportunity for you. Because so many communities discourage on-street parking of RVs and boat trailers, storage facilities for these vehicles are always in demand.

As the economy recovers, the American public enjoys more disposable income, and many have taken to the road and water for recreation, thereby providing an excellent opportunity for self–storage owners to meet the resulting need.

How to Make Money With a Fishing Boat

If you’re an exceptionally good angler and you have or are willing to get a USCG Captain’s license, as well as any guide’s licenses your state or locality may require, you can offer out your services on your boat and potentially make a bundle. In fact, this is one of the ways some folks make a full-time living on their boat.

You do need to remember that your income will be at the mercy of the weather, how well the fish bite, and mechanical break-downs, and truth be told many charter fishing captains have seasonal work or backup income of one form or another. But speak to any charter fishing captain and they’ll likely all tell you the same thing—that they absolutely love their job.

If you’re really serious about making money with your boat and you want to turn it into a career, you could consider providing specialized services on the water.

Some examples of successful waterborne businesses include:

• Parasailing services;
• Dinner cruises;
• Scuba diving and snorkeling excursions;
• Whale-watching

In all of these cases, of course, you can’t just own any old boat. You’ll need to have a vessel that’s purpose-built for the service you want to provide, and licensing and insuring requirements are likely to be significant.

Boat Charter Business Ideas

Startup Costs: $10,000 – $50,000
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No

Owning and operating a boat charter business can make you the envy of any burned-out corporate employee. The requirements for a boat charter business are very straightforward. You must own a suitable boat and have a certificate that allows you to operate the charter boat.

There are various types of boat charter businesses that can be started, and providing you meet the requirements, they include dive charters, sightseeing, business functions, weddings, whale watching and fishing charters. Typically, a boat charter will include catering, an itinerary, and often some form of entertainment or social activity.

Generally, boat charter rates are calculated and charged on a per-person basis, and the rate will vary depending on the type of boat charter business you’re operating and the services or activities that are included. The startup costs for a boat charter business are high, in the $50,000+ range. However, the business can be profitable and afford you a rewarding lifestyle that money sometimes can’t buy.

How to Make Money With a Sailboat

1. Peer-to-Peer Boat Rentals

Boat sharing and peer-to-peer rental services are probably the fastest, easiest, most realistic way to bring in a few bucks with your boat asap. Like other peer-to-peer services (like Airbnb, for example), those designed for boats like Boatsetter, GetMyBoat, SamBoat, or RentABoat, are platforms you interact with via an app or webpage, where you can sign up to rent your boat to a fellow mariner who’s boatless.

How it Works

• You set the pricing and then the service takes a cut to cover their expenses and insurance.
• When someone applies to rent your boat, you get to choose whether to accept or reject the rental. So you always maintain control of who takes out your pride and joy.
• Then when the appointed date and time arrive, you meet the renters at the dock, show them the boat, hand off the keys, and watch your bank account balance go up.

“Boats need to be utilized in order to keep them in good working order,” notes Jackie Baumgarten, CEO and co-founder of Boatsetter. “Most owners come to us because it allows them to offset the cost of ownership and keep their boats in good working condition. The average owner will book $15,400 over a two-year period, and our top owners make several hundred thousand dollars a year.”

2. Operating Sight Seeing Tours

This is another venture you’ll need to have a captain’s license for, and since the local population already sees the sights this sort of operation only works in tourist towns. If you happen to live in a hot vacation spot, however, this could be great way to make a few bucks while introducing people to your local waterways.

In some areas eco-tours are a good bet, and in cities built on the waterfront, you may find sightseers who are willing to pay extra to check out the scene from a unique point of view. Washington D.C. alone, for example, has about a dozen different boat tour services. The down-side? Like several of these opportunities, seasonality is likely to play a role in just how many months you can operate profitably.

How to Make Money in The Marine Industry

If you are looking for jobs in marine, you should definitely check out the options below.

1. Marine Engineer – The career of marine engineers deals with maintenance and repair of ship’s machinery. This is an exciting career branch for those interested in the technical aspect of the ships.

2. Naval Architect – The profession of naval architecture involves planning and designing of ships and sea going vessels. The Career Option in Naval Architecture has several rewarding opportunities.

3. Shipping Broker – The profession of a ship broker deals with buying and selling of ships and shipping cargo. More than theoretical knowledge, this field is more about being in the market and learning different the ropes of the game. This is one highly competitive yet rewarding field. As a Ship Broker the person would act as a link between the ship owners and charterers.

4. Bosun – The job of bosun falls under the deck department of careers on ships. Bosun helps in carrying out various operations of the ship and also leads the crew department of the ship.

5. Oil Driller – As an oil driller the person is involved with drilling activities on oil rigs or offshore vessels. This job asks for great mental and physical strength, but also provides good returns.

6. Ordinary Seaman (OS) – This job involves performing work in the deck department of the ships. Career as an ordinary seaman is the stepping stone for a promising career at the sea.

7. Ship Fitter – The job of the ship fitter involves repairing and maintenance of the ship under the guidance of the ship officer. Find out more about ship fitter inside the article.

8. Tool Pusher – A tool pusher is a person who is in-charge of maintaining a continuous supply of necessary equipment on an oil rig.

9. Tugboat Jobs – Jobs on tugboats are for those people who love sea but want to stay connected with the shore as well. Surprisingly, there are various jobs available tugboats. If you want to find out more about them, then this is the perfect place.

10. Shipbuilding Engineer – Shipbuilding engineer deals with the engineering aspect of design and construction of ships and marine vessels. Just like any conventional engineering field, a shipbuilding engineer has to go through four years of training to be eligible to work in a shipbuilding yard.

11. Shipping Fright Broker – Shipping fright broker acts as a link between those who want to ship cargo and those who have ships to transport that cargo. The career of shipping fright broker is a highly competitive and rewarding field.

12. Cruise Ship Designer – Ever wondered how those massive cruise ships are designed? If you have a penchant for designing things, then this can be an exciting career for you.

13. Quitting sea life to settle ashore ← Recommended – Some people may not want to go to sea but would still want a career in the marine industry. If you are one of them, then find out about how to settle ashore in the marine industry.

14. Shipwright – A shipwright is a person who is involved with designing and construction of ships. A highly specialized field, shipwright is all about making of ships and marine vessels.

15. Pump man – The job of a pump man deals with pipelines on ships and offshore vessels. This is an extremely responsible job that requires both physical and mental strength.

Make Money From Your Boat

Whether you own a boat or already have an established tour or charter business, here are ten of the best strategies we know to offset running costs and develop additional revenue streams.

1. Get a license and run charters and trips

If you have a well-equipped boat in good condition, why not share your boat with keen seafarers who do not? Once you have the required licenses , a whole host of options open up to you, be it chartering your boat or running tours. If you’ve already ticked this off the list, read on for ways to make money from your boat…

2. Be imaginative and find your niche

With your boat you could run fishing charters, whale and dolphin watching trips, oreco-tours… or develop your own niche. Nurture your creative entrepreneurial streak and provide your local tourism industry with what it needs!

3. Provide personalized cruises

Boat trips in popular destinations sometimes get a reputation of being packed with tourists, meaning you have to jostle for the best photo angle and, well, feel like a bit of a sardine. If your business offers personalised cruises for small groups, you can provide a welcome alternative.

4. Run photography tours

If your customers take loads of photos on your boat tours, why not offer a dedicated photography trip? Take your boat by the most scenic spots in your region, and offer plenty of time for photo stops.

If you’re a talented photographer, you could even provide a quick masterclass at the start of the trip and provide tailored advice for guests as you go.

5. Partner up with diving companies

Is your region popular for diving as well? You could think about cross-selling your tours with diving companies, partnering up for trips, or offering package deals.

6. Host special events such as wedding cruises

Another option is to offer your boat or yacht as a special venue for events that deserve a bit of celebration. For instance, you could host an afternoon wedding cruise with a few canapes on offer from your local catering company: a luxury option for your inventory!

7. Offer sailing lessons

Are you an exceptional sailor? Do you have a teaching qualification, or could that be a goal for you? Happy customers of your boat trips might be intrigued by the option, especially if they want a gift for a friend or to tick off a bucket list goal. It can be a lucrative revenue stream for you too.

8. Your customers expect to book online

Once you’ve found your niche and created your business plan (our blog can help you with that), TrekkSoft provides the booking, rental, and payment software to take your boat or yacht business to the next level.

You can also cross-sell your activities with local companies on the Partner Network, and build a transactional website from scratch using our Website Builder.

9. Consider peer-to-peer (P2P) rentals

If you own a boat or yacht, there are now a range of P2P boat rental websites you can sign up for, such as Boatsetter.com. You have the boat, they have the distribution platform, insurance and marketing.

10. Partner up with Airbnb hosts 

Increasing numbers of travellers are opting to stay in alternative accommodations using platforms such as Airbnb and HomeAway on their vacation. Since this trend shows no signs of stopping, tourism companies shouldn’t ignore its potential!

How to Make Money in The Boating Industry

An adventurous boat owner might cast off his lines for a relaxing day sail, a weekend powerboat cruise or a longer vacation aboard his cruising trawler. Although he derives great enjoyment from his time on the water, he might also seek a boat-based business income stream to offset his ownership expenses.

After he analyzes his market and obtains business start-up information, he can explore creative options for turning his boat into a business platform.

Charter Business

A boat owner who plans to conduct small-group sightseeing tours or who wants to pick up income from guided fishing trips can often enjoy his boat while he generates revenue. Before he can legally carry paying passengers, however, he must obtain a United States Coast Guard Operator of Uninspected Passenger Vessel, or OUPV License. Also known as a “Six-Pack” License, this credential permits the captain to take six or fewer paying passengers for trips less than 100 miles from shore.

The Coast Guard’s National Maritime Center requires applicants to pass a physical exam and comprehensive written test. Applicants must also document a specified number of sea service days, must show proof of recent drug test compliance, and must submit three recommendation letters.

Finally, the captain should have a Coast Guard Auxiliary member conduct a free courtesy exam of the boat’s navigation, safety and pollution prevention gear. The Coast Guard does not require a formal inspection of OUPV vessels.

Advertising Wraps

A business owner with a boating-friendly target market might propose a mutually beneficial arrangement to an income-seeking boat owner. The business owner pays for the installation of a computer-created advertising wrap, often used on land-based vehicles but adaptable to boats as well.

A professional contractor applies this colorful laminated vinyl wrap to the boat, which serves as the business’s traveling advertisement. The boat owner receives payment for allowing his boat to be used as an advertising platform. Because vehicle wraps are designed for longer-term use, typically three years or more, a boat owner should consider this option carefully before he makes a commitment.

Floating Bed and Breakfast

A gently rocking hotel room might appeal to travelers desiring an alternative to cookie-cutter accommodations. A nicely appointed “boat and breakfast” might also provide an enticing getaway destination for local residents ready for a change of scenery. Partner with a local eatery that can prepare the guests’ breakfasts for delivery to the boat.

Obtain permit information, along with operating cost figures, and realistically evaluate your profit margin. If you decide to move ahead, list your “boat and breakfast” in your city’s lodging database. Work with a graphic designer to create a striking rack card for your Chamber of Commerce or visitors’ bureau.

Refreshment Delivery Service

Ports considered boating vacation destinations, along with often-visited cruising yacht anchorages, can provide viable markets for boat-based refreshment delivery services. These businesses often use smaller vessels, such as runabouts or small sailboats, to sell morning coffee and pastries, sandwiches and other refreshments to anchored boaters.

Delivery service staff can also ferry groceries and boating supplies to customers who cannot easily get ashore. Before a boat owner adopts this business idea, he should evaluate the potential demand, identify reliable suppliers and obtain realistic income and expense projections.

If he proceeds, he can help reach his market with promotional fliers at nearby marinas and boating supply stores. He can also spread the word through boaters’ social media outlets.

How to Make Money as a Boat Captain

As you learn how to make money as a captain, you’ll realize that you can easily make around $4500 a month, which is over and above the experience of traveling worldwide and meeting so many new boaters. As you become more experienced, you’ll find that your salary expectations can soon multiply up to over $100,000 per year, depending on which state you live in.

For example, Delaware and Tennessee are currently offering the best growth potential for a captain’s salary. For being a boat captain, this kind of salary is extremely good, especially if you can save a large portion of the money every year.

1. Eco-tours

These are a perfect way to attract a new group of adventurous, nature-loving passengers. Plus, you’ll get to put your boat to work during typically quieter times; make your boat available for early morning trips on HOBA and you’re guaranteed to catch views of coastal animals waking and feeding.

Let customers know that your boat comes equipped with binoculars and wildlife books and map out a couple of itinerary options that include well-known (or secret!) dolphin, bird, or gator-spotting coves. Just don’t get too close.

2. Photoshoots

Local and travel photographers are always looking for the best views of a city, and more often than not, those views are from the water. As a boat captain, you probably already know all of the most picturesque spots, how to get there, and exactly when the sun rises, sets, or hits that iconic building just right.

List your boat on HOBA as a vessel for creativity, allowing photographers to book customized trips for their next assignment. Who knows…you might even get Instagram famous.

3. Booze cruises

Sunshine and warm temperatures call for a day on the water with a cooler of beer. Perhaps you’ve booked a couple of BYOB tourist charters in the past, but why not turn them into a more regular stream of income? Think beyond just listing your boat for “booze cruises.”

On HOBA, you can offer all kinds of unique, customized bookings like bachelor or bachelorette parties, wedding guest day trips, birthday parties, or even Sunday Funday staycations.

These are all basically booze cruises, but by phrasing each one differently, you give potential customers additional ideas for why they should book with you! Consider offering to provide ice and coolers, sunscreen, or bottled water to incentivize a booking.

4. Waterfront dining

Charleston and Miami are full of incredible waterfront restaurants and bars…and what better way to arrive in style than on a boat? With HOBA, you can offer simple round-trip pick up and drop-offs, meaning your passengers can meet you at a dock on one side of the water, hop aboard, and show up for their dinner reservation like someone straight out of a music video.

Or, better yet — turn your boat into a floating restaurant. String up some lights, put on some music, and let customers know they can bring a picnic on board. Second (or third) dates will definitely ensue.

5. Sightseeing trips

There are plenty of traditional sightseeing charter tours out there, but they pretty much all have strict itineraries, require big groups (which means passengers have to climb aboard with a bunch of strangers), and they can be expensive, limiting who can book them and how often.

With HOBA, you can customize all of your bookings and communicate with passengers in real-time. That means you can determine their “must see” spots ahead of time, making sure it’s exactly what they want in a sightseeing cruise. You can also offer pre-determined trips, whether it’s an excursion around the Sea Islands or to Grove Isle, so even locals have some interesting and unique options while out on the water.

6. Water taxi

Since HOBA lets captains schedule pick-up and drop-offs, you can even book your boat as a group’s personal shuttle for the day or night. You pick them up at their waterside hotel, cruise around for a bit, drop them off at the marina for lunch, set sail again for happy hour, and end the night by docking at a downtown event. No matter the plan (or lack thereof), you have a new and flexible way to make easy money directly from the wheel of your boat.

Boat Ride Business

There are several things you need to think about when starting a boat charter business.

Lease versus Purchase

Checking out the clientele where you live may help you decide on the kind of boat you want for your charter business. If you purchase a boat outright, then you have the freedom to do with it as you please.

However, you will also be responsible for all repair and maintenance work. It’s a good idea to look for a marine generator repair company near you that can assist you with this.

By leasing a boat, you do give up some freedom, but the responsibility of fixing it falls on that company, not you – so that alone may save you time and trouble. Compare the two ideas to decide which one feels right for you.

The Size and Style of Boat

Do you live somewhere that has a family tourism industry or a region that has a strong business vibe? Different boats exist for all types of target markets. Get a boat that can seat a good number of people comfortably, while still being small enough to be cost effective. Coolers for snacks and drinks are always a good idea, as are binoculars.

If your target is to have a fishing-charter boat business, then bait tanks and fishing pole racks are necessary. For a snorkeling business, you will need various sizes of appropriate gear.

All boats need safety gear, such as life vests, life rafts, as well as a fire extinguisher, as mandated by law and common sense. Keep a GPS on your boat at all times. Make sure it has emergency broadcast capability and that it is in good working order.

Get a Business Name and License

After choosing your business name, you will need to register it, just as you would with any other business. Whoever is driving the boat will need a captain’s license for carrying passengers. A boat-charter business also needs good insurance liability coverage.

Hoist Your Sales

Market yourself by making friends with folks at your local marina, who may be in contact with people who want to charter a boat. Get to know your local tourism industry board and speak with them about what you have to offer. Create a website that features what you’re offering, along with competitive rates clearly listed.

By starting a boat charter business, you offer people the chance to share the wonderful experience of being on the water, and all that it has to show. Keep a clear focus on the kind of experience you want to offer while marketing yourself and gathering clients. Plan carefully and thoughtfully, as you would with any business.

How Expensive is Living on a Boat?

That’s right, living on a boat is cheap and here is an example. A family spent two years living on a sailboat in a marina in Vancouver with a full suite of amenities (power, parking, internet, laundry, showers, workshop) and it only cost them $550 a month (their next best option would have been an apartment for $1100+).

Of course, they had to buy a boat (that cost us around $10K) but over the course of two years they more than got our money back. If you choose to live on a mooring ball or at anchor, it can cost you even less! In San Diego, they paid $150 a month for a mooring ball, and anchoring was free.

Some sample liveaboard budgets:

• This young UK couple is living on a sailboat for £500 ($570) a month while cruising around the world.
• This young family from San Diego told Business Insider they pays $2,200 a month to live on a 40-foot boat.
• These San Franciscans are living on a sailboat and spend just a few hundred dollars a month on rent and utilities.

However, there are ongoing costs associated with boat living:

• Liveaboard insurance is more expensive than recreational boat insurance. For our 35-foot sailboat we’ve paid:
  • $800 a year for liveaboard insurance (sailing in local waters)
  • $1,800 a year for liveaboard insurance while cruising (sailing internationally)
• Liveaboard moorage generally costs more than recreational moorage. Expect to pay $550-750 a month.
• Utilities: water and electricity cost a fraction of the price of living in a house
• Maintenance costs will depend on 1) whether you’re doing the work yourself and 2) the condition of the boat. Generally marine products cost 3 to 4 times the price of household building supplies. Expect to pay $1000-$6000 annually.
• Mortgage. Liveaboard boats can cost anywhere from $10,000 to $200,000. If you finance your boat, you will have monthly mortgage payments.
• Taxes. Boat property taxes vary by location. E.g. Californians are assessed 1.1% of the vessels current value annually.

Is There Money in Flipping Boats?

Flipping boats is a profitable job where you buy a boat for cheap and sell it for a profit. This can be done by buying them, then fixing, cleaning, detailing, restoring, repowering, or improving them in some fashion to sell the boat for more money than what you have in it.

As with any form of flipping, boat flipping incorporates different aspects of fixes. Or modifications that you can do to the boat before selling it to another buyer. You can pick up an old rotten project boat and completely restore it before selling.

Or you can buy a boat in perfect working condition and sell it to another person after only swapping out the engine.

Buying a boat that has one or two non-functional parts. Fixing them up, and then selling the boat for money is a good place to start for beginners. You can learn a lot about fixing boats this way.

Without the risk of losing a ton of money that is involved with restoring old, abandoned boats.

The major advantage of this type of boat flipping lies in the quick returns it provides you. Whereas the process of restoration can often take you months on end. Fixing and flipping is only a matter of a week or two.

Depending on the amount of damage the boat has gone through. You can get back your investment. And some profit in a small amount of time once you are done with the fixes.

However, boats that need only a few fixes are usually much more costly than old and defunct ones. As such, you will need a little bit of capital investment to pursue this line of boat flipping.

Simply does not compare to what you can earn with complete restorations. Depending on the desirability of the boat you are restoring.

It is important to note that it is often extremely difficult to find a good deal on a boat that needs only a few fixes. Keeping a boat is an expensive hobby, and only the people who are willing to invest their time and money in this hobby buy them.

As such, they usually do not wish to sell their boats if it only requires a few fixes to be working again. You can, however, find the odd person who realizes later on how much the boat is costing them.

And decides to get rid of it once it develops a few faults, rather than invest further amounts of money in it.

How do I Get Insurance When I Rent a Boat?

A typical boat insurance only helps protect a boat that you own. However, boat rental insurance is a good option if you rent a boat. Rental boat insurance helps protect you from paying out of pocket for damages, cost of repairs, or watercraft replacement.

Accidents can occur, and it’s essential that you are prepared if they do. Keep in mind each policy can differ, and it’s important to understand the coverage limits of the policy.

The place you rent the boat from may offer boat renters insurance. You can often purchase rental boat insurance through them. 

If they don’t offer it, ask them if they have any other options. Be sure to clarify what would happen if something went wrong during the rental period. You don’t want to find out the hard way that you need to out of pocket for damages from an accident. If you feel uncomfortable, find a different place to rent a boat, preferably one with rental boat insurance options.

Always feel free to call your insurance agent about other coverage options. They can help you find the right boat renters coverage for your situation.

What is The Best Boat For The Money?

The price range for boats is huge, of course, but average middle-class Americans looking to find their new dream-boat will each have their own budget, and their own definition of just what “affordable” means. That may mean looking for a boat that costs about as much as a new car, taking the family on a series of vacations, or putting in an in-ground pool.

Fortunately, there is indeed a boat for every budget. Here are some of the most affordable starter boats to keep in mind when you begin dreaming.

1. All-Purpose Fishing Boats: Lund 1650 Angler SS

In this category there are countless options, and luckily, many all-purpose fishing boats are relatively low cost because their focus on fishing means they aren’t loaded up with excessive amenities.

While that simplicity may limit the boat’s appeal to only anglers, it also helps manufacturers keep pricing down—way down. In fact, in the smaller size ranges it’s possible to find an all-purpose fishing boat that can easily hold a family of four and fits in the garage, yet is priced in the $10,000 to $20,000 range.

Take the Lund 1650 Angler SS, for example. It’s rated for up to five people, has a 40 HP outboard, a trailer, a livewell, and a driver’s side console, and is an ideal platform for all kinds of freshwater fishing and trips on relatively protected saltwater bays. Yet listing at just $15,547, this package can be financed with payments under $150 a month.

2. Aluminum Fishing Boats: Starweld 16 Fusion DC

Aluminum boats are like the ATVs of the boating world. They’re rugged, versatile, compact, easy to transport, and easy to afford. They’re also an excellent choice for people who have light-duty tow vehicles, thanks to their relatively lightweight.

So, let’s say you want a 16-footer that has rear seating so you can comfortably take the entire family fishing, but you also want a boat with an aft casting deck?

The Starweld 16 Fusion DC does the trick, with aft jump seats that span the boat’s beam but fold down so you can also stand and cast from an elevated position. It also has some startlingly capable integrated fishing accessories, like a whopping-big 30-gallon livewell with a bait bucket, a Humminbird Helix 5 GPS fishfinder, and a locking rod stowage box.

Starting MSRP with a Mercury 50 FourStoke is a mere $24,457, however, even with all these goodies onboard. Added bonus: At 18’4” sitting on a trailer, this boat is garage-ready and easy to store right at home.

3. Bass Boats: Ranger RT188P 

While we’ll stipulate that there are some extremely expensive bass boats on the market, there are also plenty of lower-cost bass boats out there that are very competent fishing machines. They may not have the bling of models that are triple the cost, but boats like the Ranger RT188P have it where it counts: in the bass fishing department.

Read Also: How to Make Money Boating

This boat-motor-trailer package offers 115 horses, a fishfinder, a bow-mount trolling motor, multiple rodboxes and livewells, onboard tackle stowage, and an onboard battery charger. Even with all these big-ticket goodies included, base price is just $27,095. Oh, and did we mention that it looks great, too?

4. Bay Boats/Flats Boats: Mako 18 LTS

Saltwater fishing is popular just about anywhere there’s a coastline, and anglers who ply bays, inshore waters, and back-country flats love their bay boats and flats boats. If you’ve been looking at offerings in this genre you’ve probably noticed there’s a very wide range of pricing, which is often related to the size of the boat.

But an 18-footer like the Mako 18 LTS can still be had for well under the $30,000 mark. And note that although it’s relatively small and inexpensive, this boat can carry five passengers and has plenty of features ranging from flush-mount vertical rodholders, to an 18-gallon livewell, to cockpit courtesy lighting.

5. Bowriders: Regal 1900 ES

As one of the most versatile, do-everything designs around, bowriders attract a lot of first-time boat-buyers. That means there’s a long list of boatbuilders who make bowriders, and they’re available in a huge range of shapes and sizes.

You’ll want to do lots of comparison shopping before deciding which specific make or model is ideal for your needs, but if your budget comes in at $30,000 or under, one you’ll surely want to look at is the Regal 1900 ES. It can hold the entire family plus some friends (maximum capacity is nine people) and can be used for everything from watersports to day cruising.

Is Buying a Yacht a Good Investment?

There are instances where yachts can appreciate in value, although those scenarios are rare. If you are making the decision to purchase a boat or yacht based on whether or not it’s a good financial investment, you may want to reconsider your reasons for owning a boat.

Simply put, yachts are excellent investments in your family, your happiness, your lifestyle, and in creating future memories. Owning a yacht opens up new horizons, exposes your family to adventures they’ve only dreamed of, and provides a safe outlet for the stress of our everyday lives.

In today’s world of uncertainty, a yacht can be a safe haven for your family. Working with an experienced, professional yacht broker near you can help you determine the right type of vessel for your needs and budget, while taking much of the guesswork out of the process.