How Do I Start My Own Boat Charter Business?
Using Boatsetter to Get into the Business of Chartering
Have you ever thought about getting into the business of chartering? As a boat owner, you might have found that the costs of owning a boat can add up quickly. You might not have quite as much time as you used to for boating now, so it might seem that your boat goes unused for much of the year. This might be an excellent time to think about joining the sharing economy by starting to list your vessel as a boat charter. Boatsetter is a peer-to-peer boat rental company that allows you to do this quite easily. Once you’ve listed your boat made some money renting it out, who knows? You may want to invest in more boats and start a charter rental company of your own!
Listing Your Boat as a Charter Rental: Insurance
Since your boat is a valuable asset, you need to be sure that it is safe if you decide to offer it as a charter rental. There are good reasons that you need good boat insurance, such as protecting yourself and your boat from expensive damage. Boatsetter offers peer-to-peer boat insurance, in partnership with GEICO BoatUS. This Peer-to-Peer Boat Rental Policy is the primary policy that covers you during the Boatsetter rental period and it doesn’t require you to change anything that you already have with your regular boat policy. Each Boatsetter rental covered under this policy comes with significant liability coverage: $300,000 per person and $300,000 total liability per accident. This type of insurance is ideal for owners who are interested in chartering because the insurance costs are very low.
List Your Boat as a Charter Rental: The Process
Now that you have adequate insurance, you still need to find people who want to rent your boat. Here are some really easy ways to make your boat more attractive as a charter rental. Take a quick look at this list too. In general, when listing your boat as a charter rental, keep your listing as current as possible by updating your images constantly. Always respond as quickly as you can to queries about your charter rental. Make sure you obtain reviews from previous satisfied customers. Finally, make sure your price is competitive and comparable to the cost of other similar charter rentals.
If you follow those suggestions, it should be easy to list your boat as a charter rental. Once you’ve signed up your boat on Boatsetter and successfully listed it as a charter rental a few times, you might want to invest in a few more boats. Luckily, listing your boat on Boatsetter is a seamless process and our expert team is available to walk you through any questions you might have.
Analyzing the Costs of Boat Ownership When You List your Boat as a Charter Rental
As a boat owner, you probably know by now that it can be expensive. In addition to boat insurance and registration costs, you also have high maintenance and storage fees, as well as various other related expenses. Here is a more detailed breakdown of some of the ownership costs you might have already spent on your boat. Doesn’t it make sense to try and recover some of that money by listing your boat as a charter rental?
In this modern era, the sharing economy is your friend. Companies like Airbnb and Uber are peer-to-peer for properties and cars. Boatsetter is a similar type of company, except that we are a peer-to-peer boat rental company that connects boat owners and potential renters. Owners, like you, can make money by listing your boat as a charter rental and renters can try out lots of boating options pretty easily. Right now, you can start taking advantage of the platform we have built by listing your boat as a charter rental.
At Boatsetter, we help people rent boats and yachts that they would otherwise think are inaccessible. If you list your pontoon boat for rent at $1,000 a week, four buddies can rent the boat at a cost of only $250 per person. If you only list your boat for one week per month, the income you generate might cover all of your monthly costs and it could even leave you some extra spending cash – which you can use to buy other boats to list on Boatsetter, and then eventually start your own chartering business.
If you’re interested in listing your boat as a charter rental, it is usually a good idea to get as many reviews of your boat as possible. People tend to book more popular boats more often, so it is important to show potential renters that your boat is a good choice for their specific needs. For added peace of mind, you can give renters the option of having a licensed captain aboard. This means having an expert on board and confidence in letting your boat hit the water for a day of rentals.
Improving Your Boat Listings
In addition to this article, watch our video for some more tips and tricks to improve your boat listings. Especially once you are the proud owner of two or more boats, keeping your property safe and in great condition should be a major priority as you get ready to launch your own chartering business. Get started with your listings today. Take a few pictures of your boats, fill in a few forms, and you can start moving towards owning your chartering business.
Of course, there are several other things you need to think about when starting a boat charter business, such as choosing a business name and getting a license. Read this helpful article for a guide to some of the other steps you might want to take in the process of owning your chartering business. Above all, you will want to market yourself by making friends with other boaters at your local marina, who may also be able to put you in touch with people who want to charter a boat. It might also be a good idea to contact your local tourism industry board for further tips.
A Few Extra Tips
Regardless of whether you follow through with all of these steps or not, it still makes sense as a boat owner to list your boat throughout Boatsetter, simply to make a little extra money and to give your boat a little more time out on the water. Boatsetter is the easiest way of listing your yacht charter. Reservations made through Boatsetter can be canceled up to 24 hours in advance and we only work with captains licensed by the United States Coast Guard.