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harpercollins

Renting boats and jetskis

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Posted (edited)

I've been trying to rent some watercraft to use on Lake Nacogdoches, and evidently no one is doing that there now (though i vaguely remember someone doing that when I was in high school). Since my parents live on the lake, I'm wondering if it'd be easy to buy a boat and rent it out on the weekends we aren't there.  Anyone done anything like that before?  I assumed the insurance is cost-prohibitive and that's why no one does it, but there's plenty of rentals on other lakes so maybe just an untapped market?

Talk me out of it.

Edited by harpercollins

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1 minute ago, CooterBrown said:

If you’re not there, who’s going to do check ins/outs, service the boat, refuel, etc?

my parents or siblings.  would probably be a family biz.

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We have rented our RV on Outdoorsy. I was nervous to let people pull it but overall everyone treated it nicely.

With a boat there are a lot of issues. I see people returning boats to our marina that should not be driving a boat. 
 

Is Lake Nacogdoches easy to navigate or do you need to know where trees and low areas are? If it’s not super deep I would be really hesitant.

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I would think the cost of insurance for both the hull and your personal liability from suits brought by a renter would offset too much rental income to make it worth the effort.

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If you want to see how your customers will fare operating your boat and how your boat will be used, follow The Qualified Captain on Instagram.

 

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I would ask yourself or your family if they would be willing to take a job with another boat owner helping to rent out their boat. Dealing with the public, issues, etc. all for a relatively low wage. And they have to work hard when everyone else is enjoying themselves. 

I would also try to find out more about the success of these businesses on other lakes. Just because they're in business, it doesn't mean they're succeeding. Many small business owners make nothing or are barely getting by. Or perhaps they're printing money.

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Your business adventures would be a great idea for a TV series - get in bed with the cartel, then build what appears to be a much needed marina/boat rental outlet to wash their money.  Follow that up with a hotel and casino after you get active in state politics.  Hire some street smart local cons to help your family run it.  

 

 

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