Owning a boat can be expensive. Finding ways to make money from your boat can assist with earning income instead of having the vessel sit idle for long periods of time.
The 7 best ways to make money from a boat are:
- Peer To Peer Boat Rentals
- Offer Boat Sightseeing Tours
- Offer Fishing Trips
- Offer Special Events
- Teach People How To Operate A Boat
- Boat Cargo Delivery Service
- Become A Boating Vlogger
These 7 ways to make money from your boat can help offset boat ownership costs or provide additional income for boat owners.
These boat business ideas range in difficulty with the peer-to-peer boat rental service being the easiest to get started with.
1. Peer To Peer Boat Rentals
The first way to make money from a boat is by renting out the vessel on peer-to-peer boat rental websites like Sailo, Click&Boat or Pebbel.
According to Click&Boat, the average boat owner will make $7,000 per year ($583.33 per month) renting out their boat. This will vary based on a boat owner's location with a boat owner's rental income being much higher in Florida.
To make money by renting out a boat:
- Sign up for a peer-to-peer boat rental website
- Upload photos and all the details about the boat onto the website
- Set a boat rental price
- Set when the boat is available for rent
- Wait for customers to book the boat
Once a customer books your boat to rent, the boat rental website will take a fee from the rental price paid. This will range from 10% to 40% depending on the peer-to-peer website.
Depending on the location and the time of year, making money from renting out your boat can occur within 1 week of listing the boat on the platform.
The types of boats that can be rented out on a peer-to-peer platform include pontoons, fishing boats, trawlers, deck boats, sailboats, motorboats, speed boats, yachts, super yachts, jet skis, and catamarans.
The benefits of making money from your boat by renting it out on a peer-to-peer platform are it is quick and easy to set up, boat owners can get paid fast if they get customers, there is an option to hire a captain so the boat owner doesn't need to operate the boat themselves when renting it, it is free to list their boat's on the website, the boat rental website will handle the payments, and boat owners can reject or choose who they rent their boat too.
One disadvantage of making money from your boat by renting it out on a peer-to-peer platform is the boat rental platform can take a large percentage fee of the rental price with some platforms taking 40%.
Setting up the boat for rent on a boat rental website is free to do.
2. Offer Boat Sightseeing Tours
The second way to make money from a boat is to offer people a sightseeing tour from the boat.
A boat owner offering boat sightseeing tours will make approximately $3,000 per month. This will vary based on the location, the size of the boat, and the time of year. Boat sightseeing tours will work best in locations that get a lot of tourists.
To make money by offering boat sightseeing tours:
- Choose the type of boat tour you will offer (eco-tours, local sight viewing, etc.)
- Get a captain's license
- Get commercial marine insurance
- Comply with local laws
- Advertise the boat tour to tourists
In some countries, a boat owner may need a permit to offer boat sightseeing tours.
The cost of setting up a boat sightseeing tour business is approximately $1,500. This includes the captain license cost, the cost of permits, the cost of business registration, and marine insurance. Marine insurance will be paid on a monthly recurring basis whereas permit fees, business registration fees, and captain license fees are one-time costs.
The types of boats that can offer sightseeing tours include motorboats, pontoons, yachts, sailboats, cruisers, center consoles, deck boats, speed boats, and catamarans.
Depending on the location of the boat tour, setting up a boat tour service will take approximately 3 months to complete.
The benefits of setting up a boat tour for making money are it can provide $3,000 per month or more in busy tourist areas and it can be a good source of employment for the locals.
Two disadvantages of setting up a boat tour to make money from your boat are it can take 3 months to get set up and popular tourist areas are very competitive with multiple tours being offered to tourists.
3. Offer Fishing Trips
The third way to make money from your boat is to offer fishing trips.
A boat owner offering fishing trips can make approximately $1,200 per month. This will vary based on weather conditions, the demand, and the location of the boat.
Boat owners should only offer fishing trips if they are excellent anglers.
To make money by offering fishing trips:
- Get fishing gear (rods, bait, fish storage buckets, etc.)
- Get a captains license
- Advertise the fishing trip
- Set up a payment method to receive payments
- Wait for customers
Depending on the location and seasonality, a boat owner can make money from offering fishing trips within 1 month of setting up.
The types of boats that can offer fishing trips are trawlers, center consoles, motorboats, and pontoons.
The benefits of setting up fishing trips to make money are a fishing tour provider can provide visitors with information about the local fish species and their habitats, and fishing trips can earn $200 to $400 per trip.
One disadvantage of setting up fishing trips to make money is a boat owner will need to have good angler knowledge.
The cost to set up boat fishing trips is approximately $2,000. This is for the fishing gear and insurance.
4. Offer Special Events
The fourth way to make money from your boat is to offer special events onboard the boat.
A boat owner offering special events on their boat can make $1,000 to $1,500 per month. However, this will vary based on the location, the weather conditions, and the demand.
To make money by offering special events on your boat:
- Choose a special event service to offer (dinner cruise, romantic trip, scuba diving, snorkeling, whale watching, watersports, etc.)
- Get a captain's license
- Get the right gear for the special event service offered
- Get a permit (if required)
- Get marine insurance
- Advertise the special events service
- Set up a payment method to receive payments
- Wait for customers
Depending on the location of the boat, the time of year and the overall demand, a boat owner can make money from offering special events onboard within approximately 2 months.
The types of boats that can offer special events onboard are pontoons, yachts, super yachts, motorboats, deck boats, speed boats, power boats, sailboats, and catamarans.
The benefits of offering special events onboard to make money are that boat owners can offer their hobby as a service e.g. snorkeling, scuba diving, demand for certain special events can be high in some locations and boat owners can charge between $250 - $400 per trip depending on the service offered.
A disadvantage of offering special events onboard a boat is getting the right boat gear for the special event can be costly.
The cost to set up a boat special events business is approximately $3,000.
5. Teach People How To Operate A Boat
The fifth way to make money from a boat is to offer boating lessons.
A boat owner offering boating lessons can make approximately $2,000 per month from their own boat. This will vary based on the location, seasonality, demand, and weather conditions.
To make money by teaching people how to boat:
- Take a boat instructor course
- Get marine insurance
- Advertise the boat lessons
- Set up a payment method to receive payments
- Wait for customers
Depending on the location of the boat, the time of year and the overall demand, a boat owner can make money from offering boating lessons onboard within approximately 1 to 2 months.
The types of boats that can offer boating lessons are deck boats, speed boats, sailboats, catamarans, yachts, pontoons, and sailing dinghies.
The benefits of offering boating lessons to make money from your boat are boat owners can work their own hours and boat owners can charge $150 - $200 per lesson.
One disadvantage of offering boating lessons to make money from your boat is there may not be much demand for the service depending on the location.
The cost of offering boating lessons to make money from a boat is $400. This covers boat instructor course costs and insurance.
6. Boat Cargo Delivery Service
The sixth way to make money from a boat is to offer a boat cargo delivery service.
A boat owner offering a boat cargo delivery service can earn $3,000 to $5,000 per month. However, this will vary substantially based on the location and demand for the service.
To make money offering a boat cargo delivery service:
- Get a captains license
- Get a business permit
- Advertise cargo delivery services
- Set up a payment method to receive payment
- Wait for customers
Depending on the location of the boat and the overall demand, a boat owner can make money from offering a boat cargo delivery service within approximately 3 months.
The types of boats that can offer a boat cargo delivery service are deck boats, speed boats, sailboats, catamarans, yachts, pontoons, ships, and motorboats.
The benefits of offering a boat cargo delivery service are boat owners can charge based on the load size of cargo being delivered,
One disadvantage of a boat cargo delivery service is demand may be low depending on the location.
The cost to set up a boat cargo delivery service is approximately $500.
7. Become A Boating Vlogger
The seventh way to make money from a boat is to become a boating vlogger.
Becoming a boating vlogger can make $100 - $2,000 per month or higher.
To make money by becoming a boating vlogger:
- Set up a YouTube channel
- Record all your boating activities
- Publish the videos to YouTube
- Wait for the channel to grow
Making money from your boat by becoming a boating vlogger will take 6 months to 1 year for the average YouTube channel.
A boating vlogger can vlog from any type of boat including ships, motorboats, sailboats, catamarans, etc.
The benefits of becoming a boating vlogger are it is free to set up, you can work whenever you want and there are multiple revenue streams.
One disadvantage of a boating vlogger channel is you do not gain enough viewers to make money from the channel.
It is free to set us a boating vlogger.
Factors That Affect Making Money From Your Boat
There are 9 factors that can affect making money from a boat including:
- The type of boat: Different boats are suited for different types of use, such as fishing, cruising, or water sports. Some boats are more profitable than others
- The location: Boats that are located in tourist-heavy areas or near popular fishing spots like Florida may be more profitable than those in less-trafficked areas
- The condition of the boat: A well-maintained and updated boat will likely be more profitable than one that is in poor condition
- Demand: The demand for the type of service the boat provides such as charter fishing or sightseeing tours will also affect its ability to make money
- The competition: The level of competition in the area for similar services will also impact the boat's ability to make money
- Cost: The cost of operating and maintaining the boat including fuel, repairs, and insurance will also affect its profitability
- The marketing: How well the boat is marketed and promoted will also play a role in its ability to generate income
- Service offered: The service offered by the boat owner, whether it's a boat rental option or a sightseeing tour, will influence how much money is made from the boat
- The local laws: The local laws will play a role in a boat owner's ability to make money from their boat. Some countries/states have stricter laws compared to others about what service can be provided with a boat
Making Money From Your Boat Summary
Frequently Asked Questions About Making Money From Your Boat
Below are the most commonly asked questions about making money from a boat.
What Is The Fastest Way To Make Money From Your Boat?
The fastest way to make money from a boat is to list the boat for rent on peer-to-peer boat rental websites. Depending on the location of the boat and the time of year, boat owners can get potential paying customers within 1 week.
What Is The Slowest Way To Make Money From Your Boat?
The slowest way to make money from a boat is 3 months by offering a boat cargo delivery service.
What Is The Safest Way To Make Money From Your Boat?
The safest way to make money from your boat is to offer a cargo transportation service where the boat owner operates the boat themselves. This is the safest boat money-making option because it does not involve giving the boat to strangers like would be the case if renting the boat.
What Is The Cheapest Way To Make Money From Your Boat?
The cheapest way to make money from your boat is by renting it out through a boat rental website. This will be free to list the boat on a boat rental website and a boat owner will only pay when someone books a boat rental and pays for it.
What Is The Most Expensive Way To Make Money From Your Boat?
The most expensive way to make money from your boat is by offering special events onboard the boat. This will cost $3,000 to set up.
How Much Money Can You Make From Your Boat?
A boat owner can make from $500 per month to $100,000 per month. This will vary substantially based on the location of the boat, the time of year, the size of the boat, and the service offered by the boat owner.
Larger boats like super yachts could potentially make boat owners approximately $100,000 per month whereas smaller boats like pontoons and deck boats could make boat owners approximately $500 per month.
Please note that this is just an estimate. In reality, individual boat owners' income will vary.
What Is The Best Time Of Year To Make Money From Your Boat?
The best time of year to make money from your boat is in the summer months when the weather is warmer and more people are on vacation.
What Is The Worst Time Of Year To Make Money From Your Boat?
The worst time of year to make money from your boat is in the winter months when the weather is colder and there are fewer people interested in boating.
What Is The Best Location To Make Money From Your Boat?
The best location to make money from your boat is in Florida where the demand for boating is high.
What Is The Worst Location To Make Money From Your Boat?
The worst location to make money from your boat is in Dakota because there is very little demand for boating and there are very few areas for boating.