Do you think a Jet Ski Rental business would be a good way to make money?
If I had it in Miami Florida on the beach. I'll buy at least 6 or 7 jet ski's (just to start with, when i get more money i'll buy more) and charge $90/hour. Assuming I already paid off the money from buying the jet ski's, even if i only get 2 customers per day, I'll make $1,260 per week at least! Minus the price for gas. But I will definitely get way more customers than that, unless it's stormy that week. What do you think? It'd be a good business right? I could also provide surf boards, and boogie boards to rent also. Maybe snorkel supplies and flippers too.
Water Sports - 2 Answers
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1 :
It could be good depending on how well you maintain it. Don't forget about insurance for your business/jet skis. You'll probably have to have permits from whatever city you're in, taxes on the building you house everything in. You'll need someone who can service/repair broken equipment as well. I'd love to have something like that though...freedom!
2 :
renting jet skis is not a cheap or casual thing to do. jet skis are powerfull machines capable of creating a lot of excitement and fun, but they can and have caused accidents and injuries. per scott who owns a jet ski business "Scott on 12/18/2009 5:10:33 PM I own a Jet Ski operation in Panama City Florida and have since 2000. I get this all the time some guy walks up after renting and says" I think I will open a Jet Ski Rental Business!" Where do I begin? First off unless you have around $80,000 cash laying around forget it!! You must also be able to do all maintenance on these machines short of rebuilds yourself. Then there's the location, at most beach's in Florida that allow rentals you can figure on coughing up $15 to $25,000 dollars per spot!! Then you are limited to how many machines you can run per feet of Beachfront at your resort. Then you will need a 4x4 vehicle to drag them that will eat away at the bottom of the skis $200 per waverunner to repair every season. Insurance will stop 99% of the DREAMERS out there, there are only 2 companies in the U.S. that even write this sort of policy and if you have never owned a Jet Ski Rental business in the past you probably don't qualify and if you somehow do get in figure on approx $4,000 per machine for coverage 25% upfront with 4 payments! You need a minimum of 4 to break even just so you know. figure $1000 to $2000 each machine for repairs as rental are not covered under factory warranty as well! I personally run 9 machines and must make $200,000 per year just to pay all the bills and net $80,000 and I must do all of this in 5 months out of the year ( 7 days a week straight!) that means from march thru August I work from sun upto sun down no breaks and no life except my business. then there is the added bonus of being in the sun every day for 12 hours here in Florida. If you forget to coat on the sunblock 5 times a day you will be seeing the dermatologist scalpel up close and personal as he cuts off inflamed cartilage and sunspots for biopsy, what a great time!! Sorry if I paint a grim picture but not just any bozo off the street can throw a few old skis in the water and call it a business!! that my friends it not how it works at all! My advice to you is buy an established rental business from a company with a great safety record and stability in one spot. You should only pay 10 months of revenue and all machinery is depreciated at 20% each year of age period! My business for example would sell for $246,000 that's it! nine machine that are two years old and ten months of sales DON"T GET RIPPED OFF by someone who attaches emotions to their business. I see these ad's all over the net for ridiculous asking prices all you are doing is taking over a lease paying the ten months and equipment depreciated worth it's real simple. Think long and hard before diving in people! Good luck!" http://www.startupbizhub.com/jet-ski-ren… hope this helps
