Water Sports Rental Business Plan | Jet Ski Rental License 2019/2020
- 1 Water Sports Rental Business Plan | Jet Ski Rental License 2019/2020
- 1.1 How to begin A Jet Ski Rental Business
- 1.2 List of Legal Documents You Need To Run A Jet Ski Rental Business
- 1.3 Things to Consider When Starting A Jet Ski Rental Business
- 1.4 Other Amazing Business You Can venture Into Today
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You want to start a jet ski rental business? Then you’re on the right page. Tourism is the new big thing in town and a lot of people are looking for ways to make money from such a huge opportunity. If you’re one of the entrepreneurs who are looking for a way to make money off tourists in your state, then a jet ski rental business might just be the ideal business for you.
This business is pretty lucrative, especially at relaxation and tourist sites location. You will need to find a good beach where people usually flood to for fun because they are your target market as long as this business is concerned.
This business is not technical to start nor do you need millions of dollars to pull it off. Far from that! What you need is the basic knowledge about the business, coupled with a great business plan. With that, reaching the pinnacle of success becomes possible
In this article, I’m going to guide you on how you can start a jet ski rental business and make a lot of money. If this business is well done, you might finally free yourself from the shackles of financial bondage. Let’s go, shall we?
How to begin A Jet Ski Rental Business
1. Coduct A Feasibility Study/Market Survey
To know the intrinsic part of this profitable jet ski rental business, you need to go on a market survey. A market survey will entail finding out the most suitable beach, body of water or man-made resort where you can operate your business and make money. This also will require getting to know the laws existing for opening a jet ski business.
Furthermore, you should be able to know a lot about the ecological state of the water body you want to operate on. Like the depth of the water, aquatic animals, weather, climate and the type of plant life that it supports. All these should be known to know how safe it is to operate at a particular location.
2. Gain First Hand Experience
Before you dabble into this business, it is proper to gain first-hand experience or guidance from those already in the business.
Going straight and making inquiries might not work in some cases, who will want to breed forth a potential competitor? The best way to go about this is to work as a staff in an existing jet ski rental business. That way, you learn from the source itself on how this business is run.
In a case where there seem to be no jet ski businesses that you can learn from, then the online world becomes your only option. There are a lot of helpful videos and materials online. All you need to access them is to punch the right keywords, like you did to arrive at this article that you’re reading.
3. Draw A Business Plan
A jet ski rental business plan is made easy from the data already gathered in the cause of your market survey and feasibility study.
Through your business plan, you know the exact amount of money need to start this business and the marketing strategies to implore. A friend of mine in Florida exposed this business to me and according to him, doing this business without a plan is like planning to fail.
A good business plan is needed, especially if you’re going to seek finance from friends and family, investors, capitalist etc.
If you want to beat popular brands like;
- Kawasaki Jet Ski Ultra 310LX
- Bigger Boat: Midnight Express 39S Open
- Yamaha Waverunner superjet
- Gibbs sports amphibians quad ski
- Yamaha FZR
- Sea-Doo Spark
You need a great plan to make that possible.
4. Good Business Location, Acquire Jet Skids and Maintenance
The success of your business is directly tied to the location of your business, even in jet ski rental business. Make sure you find a good tourist spot where the traffic is always good and encouraging. Also, you need to acquire jet skis cause without them, you definitely won’t be in business. You can buy new ones, high purchase or fairly used jet skis.
Whichever one you’re going for should be determined by your financial strength.
Also, acquiring of jet skis will warrant having an engineering team set up, to always service and maintain the machines to avoid downtime which will no doubt leads to loss of income or revenue. Occasional maintenance should be a habit if you’re really serious to make this business work.
5. Employ Experienced Instructors
No matter how good you are as an instructor in jet ski rental business, you still need other competent hands to assist when it comes to instructing customers, especially in adhering to safety rules and regulations.
List of Legal Documents You Need To Run A Jet Ski Rental Business
There is the need for all businesses to have certain legal documents for them to be able to operate well. Listed below are some of the legal documents that are required to successfully run a Jet Ski rental business in the United States of America;
- Certificate of Incorporation
- Contract Document
- Operating Agreement
- Insurance Policy
- Business Plan
- Business License
- Offer Letters
Things to Consider When Starting A Jet Ski Rental Business
1. A Good Insurance Cover
Accidents and glitches are bound to happen as long as business is concerned, having a good insurance cover is your only escape route.
2. Capital Intensive
The cost of starting and running this business is intensive. Apart from acquiring jet skis that ranges from $5,000 – $10,000, you also need to consider storage space, fuel cost and maintenance cost. However, the reward is mouth-watering.
3. Right time to Do Business
This is a water base business and it is logical to know that not all days will be business as usual. This is done for the safety of your potential customers.
Jet ski rental business is more than just buying jet skis and putting them up for rent. It entails a lot of hardwork and smartness too. With a good location, business plan and the right team, making a lot of money from this rental business becomes very much feasible.
That’s the much we can take on the topic “Water Sports Rental Business Plan | Jet Ski Rental License 2019/2020”.
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