Rent Boat Out On Peer To Peer Lending Platforms | Set Up A Charter Service | Provide Boat Tours/Experiences | Boat Delivering Cargo Service | Offer Boat For Events | Offer Boating/Sailing Lessons | Become A Boating Vlogger
Looking for ideas on how to make money from your boat? We'll you've come to the right place. Owning a boat can be expensive and is generally not a good investment.
But there are ways you can help cover some of those costs you have. In this article, we'll discuss different ideas on earning cash from your vessel.
Before you start checking out these ideas, this guide will apply to owners of many different types of boats you'd see on the waters today like:
So yes, there are options available for most boat owners out there.
Some of the options available will require you to have specialist insurance or to meet special boat licensing requirements.
Generally, this isn't much of an added expense.
Right, let's look at all the ways to make money from your boat!
There are lots of ways to make money from a boat and this is one of the most profitable options.
You will find peer to peer boat renting websites where you can list your boat for free and rent it out.
The benefit of this option is you get full control over the price you charge and the people you allow to rent your boat. You can also choose between you being the captain of the boat or the renter.
The choice is yours!
During the peak summer months, you can earn a nice income. However, please keep in mind this will depend on your location.
Obviously, Florida will be busier than some other states.
You can rent your boat out on platforms like Getmyboat, ClickandBoat etc. Some of the top boat owners are making $150,000+ a year from chartering their boat.
You can read our how to rent out your boat guide for more details on how to do this and start earning.
But don't be amazed by that number as realistically most people won't make that much but there is nothing stopping you from making a few extra thousand dollars a month doing this.
To get an idea of how much you can rent your boat out at, check out our cost to rent a boat article for an idea on prices.
Please also take into account that these platforms will take a fee of every rental booked through their site usually between 15 - 35% depending on the site.
An important note to mention is to ensure you are aware of boat insurance requirements for renting out your vessel.
Most providers will offer you an insurance policy to cover renting but we are NOT insurance experts so it's important to consult with your insurance provider first.
This option is the fastest and easiest way to get started making money from your boat.
In some ways, this is similar to the peer to peer option above in that you are renting out your boat. The difference is with chartering services, you will always be the captain onboard.
Whether you're a sailor, a keen fisher or just love boating, this can be a great option to earn some extra money. You can set up a simple route in your local area to show people around by boat.
Generally, the big bottleneck in how much money you make with a charter service is location. The beach resort towns and cities around the globe will make the most money simply because there are more people around to charter boats.
The benefit of setting up your own boat charter service is you collect 100% of payment from renters, unlike with peer to peer where you'll give up a fixed sum.
The downside is trying to get customers this way can be a little harder to do.
And as a reminder, please ensure you meet the legal boating requirements to offer charters including insurance and proper boating license to do this.
We were going to include this in the boat charter option but decided it needed it's own mention. This can be a very profitable way of making extra money from your boat or vessel.
Again, location will play a massive role in how much money you will make from this.
People love experiences!
And this is exactly what you can offer with your boat. There are many different experiences/tours you can offer.
Depend on where you live, you can offer a whale/dolphin spotting boat tour. People love experiences and will love bringing them and their families to explore marine life.
This can be a very lucrative option to make money from your boat. However, as a reminder, you'll need to ensure you are fully compliant with the laws of your country/state.
Another wonderful option to make money with your boat is to offer boat tours exploring your local scenery. Most places on earth look even better from a boat and many people are willing to pay for such experiences.
This is a simple and great option to provide this service to tourists in your area. Again, how much money you earn will depend on your location and the laws in your country.
As we've said, people love experiences. And what better way to make money from your boat than to offer romantic tours.
This could be a simple tour around your local coastal area with a picnic set up or a more advanced option of music, chocolates, flowers etc.
And the best part is you can charge a lot for these tours. But remember, this will depend on your location.
One of the most popular experiences you can offer with your boat is to cater for fishing trips. People love fishing and there are many that would only love to head out on the water and catch their favorite fish.
A lot of people who fish don't actually own boats so this can be a wonderful option and service to provide.
Another great reason this can be a profitable way to make money from your boat is because in most boating locations, there are plenty of fish to catch!
Usually a fishing trip tour for 3 - 4 hours will cost $200+ so not bad for a few hours work. Again, make sure you are fully compliant with the law in your country.
These are the only experiences you can offer. There are in fact many many more like:
Okay, you get the idea!
There are tons of ways to earn cash from your boat.
A lessor known option to earn some money is a boat delivery service whereby you deliver goods for someone. Again, this will depend a lot on location.
You could find yourself moving fishing gear, fish food for local restaurants, general supplies etc.
But you may be able to move goods from country to country for businesses. Please be aware of the laws required to do this first to ensure you're fully compliant.
Want to travel the world on your boat and make money while doing it? Or are you extroverted and don't mind being in front of a camera?
Well, vlogging just might be the option for you. Building a community on places like YouTube can be very lucrative. However, it will take time.
But a simple YouTube search will show how some of these boating YouTubers are making money and the type of views they get.
You can build a large community and monetize that audience all through vlogging whilst on your boat.
Here's a large YouTube channel based solely around life on a boat.
Anyone with a cell phone can record themselves onboard so it's a cost effective way of building a community and make some extra cash from exploring places on your boat.
There are certain times of the year where you can make big money leasing your boats. Here are some ideas:
You can reach out to large corporations and offer your boat to rent. The best thing about offering to large corporations is they will have plenty of money to spend.
Another thing about hosting corporate events is the corporations will want to impress their clients and what better way than on a boat !
Alternatively, if you have a boat located in one places of the Formula 1 weekends, you can rent out your boat to people for very large sums of money.
This will obviously depend on the size of your boat etc. but you could get upwards of $10,000+
A final way to earn some money from your boat is to teach people how to boat or sail properly. Now, this will depend on your local laws but if you have experience with boating, there will be people looking to learn how to do it properly.
And you can charge them a nice fee for the lessons. You can charge upwards of $200 per hour for the luxury in some cases.
But again as a reminder, make sure you are fully aware of your local laws and boat insurance requirements. It may not be as simple of putting an advertisement in the local paper or online.
Hopefully, these ideas will get your creative juices flowing and you'll pick the best option for you. As you can see, there are many ways to make money from your boat from renting on platforms to offering lessons.
Just please be fully aware of the legal requirements to do whatever you choose. You should also be aware of safety requirements when boating with passengers.
One of the fastest and easiest ways to start earning some extra money is to list it online for rent. Whatever you decide, we wish you the best of luck and hope you find a profitable idea!