If you’re a water lover and want to do more than install a pool in your home, then why not dive right in at the deep end and get yourself a boat? Better still, why not make some money from your boat in order to pay the money back that you paid for the vessel in the first place? For advice on how to do just that, make sure to read on.
Before you start… know your costs
Before you can make any money from your boat, you have to know of the costs that are attached to boat owning. You need to know this because, simply, boat ownership is expensive and if you want recoup even just a fraction of the money you paid for it, you need to exactly how much you have paid or are still paying.
First of all you should know that, one, you need to insure your boat, and two, how much your insurance is costing; fortunately, this has been made easier than ever in recent years thanks to insurers such as Youi PTY Limited offering a distinct insuring path for boaters and skippers that is known as watercraft insurance. And second of all, you should know about the quantifiable cost that is the moorings; simply, you need to know how much your boat is being charged to float in the position it is being allowed to float in.
Once you know these ongoing costs, as well as the cost of the boat in the first place, you make it easier for yourself to know exactly what kind of figure you are aiming for with your money-making venture.
And when it comes to money making… consider running charters
Once you’ve got all the boring cost calculations out of the way you then need to start thinking about how you’re going to make some money. And, the first option you should be considering is getting a captain’s license and running charters. Yes, if you’re willing to be the skipper of your boat and lead it out on the waters with paying customers aboard it, then you go for it. By doing so you will be tapping into what is probably the most profitable form of boating.
Or… consider peer-to-peer rentals
Or, if you’re not that keen on taking people out to sea or running charters, then simply rent your boat out when you are not using it. Peer-to-peer (P2P) boatel renting is a great way to recoup some of the cash you paid for and continue to pay for your boat because it allows you to rake in the cash without doing much at all. In fact, you don’t even need to market your boat as being available for P2P because services like Boatbound do it for you. Seriously, all you have to do is provide the boat!
So, there you have it, advice on how you can some money out of being a boat owner. For more advice on how to do so, don’t be afraid to swim on over to this helpful article on the subject.