The Boating Industry Embraces the Sharing Economy
From eBay to Etsy and from Uber to AirBnB, across the board, the numbers are impressive. The “Sharing Economy” is producing success stories all over the globe. In fact, there are reportedly 17 companies valued at over a billion dollars with 60,000 employees and $15 billion in funding in the sharing or collaborative economy, according to Venturebeat.com.
To illustrate the speed of this upward trend, it is reported that 50% of the billion dollar valuations were achieved in less than four years of launch. Popular categories for the sharing startups include: transportation, services, logistics, education and financial/lending products.
In recent years, the “Sharing” economy has also found its footing in a new space – the multi-million dollar boating industry. With the onset of Boatsetter, the sharing model has been modified and optimized to meet the unique needs of boat owners, boaters as well as creating a new pathway for revenue for boat captains, marine industry professionals, marinas and ancillary businesses in the category.
Boatsetter’s management team boosts decades of start up and tech expertise but also understands the nuances of the boating industry; having run successful boat clubs, marine-related businesses, worked as captains and owned marinas. This combination has paved the way for success and is poised to present a continued opportunity for growth across the boating world.
Growth is actualized in many channels from the obvious (revenue from boat charters) to:
- Boat sales activities – owners able to afford upgraded models, new prospective buyers enter market after gaining experience and exposure to boating, a new way for boaters to “test” out boats of different styles and sizes.
- Captain career options – The sharing economy in the marine industry has created a new career option for existing boat captains as well as those considering entrance into the field. The flexible scenario fostered by Boatsetter allows licensed captains to work for themselves and/or grow a virtual fleet.
- Affiliation opportunities – As boat usage increase, the opportunity for ancillary sales, referral commission and growth of customer base increases for many many complimentary businesses and independent professionals in the marine industry.
As the sharing economy continues on it growth trajectory, the boating industry will benefit as boating now becomes more accessible to those with no experience and no desire for the commitments of ownership – creating a new path for growth and a new group of customers to foster the love of boating.