Young Upstarts

All about entrepreneurship, intrapreneurship, ideas, innovation, and small business.

How To Open Your Own Boat Rental Business

sentosa cove boats

Do you love the sea and want to create your own business where you can share that passion with others? Fortunately for you, opening up your own boat rental business along the coastline is an entirely viable option for any seaside town.

However, there are many things that you will need to consider, before you can explore this horizon:

Do Your Research.

Before you decide to fly your sails, it’s important to find out if you have any competitors in the area. It’s also worth your time to research where your business will thrive best of all. Find out the many costs that will be involved in running this company and swot up on how to safely launch your first rental ship.

Make Sure You Tick All Of The Legislative Boxes.

There are a lot of risks involved in running a boat rental company. Risk management should be high on your agenda. There are so many factors to consider – Lloyd’s has a useful list of marine issues here. If you’re organised, you can easily make sure that you are on the right side of the law and that you have covered your back for any potential mishaps that might occur.

Find An Ideal Location.

Location is crucial. The area where you set-up your boat rental service could make or break your company. If it is in a popular space, frequented by lots of people, then you’re likely to tempt in customers, without having to do much hard work.

Buy Your First Ships.

Start off small, and only start expanding your fleet when you have the demand to justify it. Whether you want to opt for new or used boats, that’s up to you, but they need to be able to pass strict checks, to make sure that they are safe for public use and sea-worthy. Be careful here, and only deal with reputable firms.

Begin Marketing.

Getting your company name heard is challenging for a newcomer, and it isn’t going to happen overnight. There are many ways you can approach marketing your boat rental business, but sometimes fantastic service and looking after your customer well is the best kind of marketing that any company can aspire to (especially with websites like Tripadvisor out there).

Create A Blog And Use Social Media.

A blog can set you up as an industry leader in your field, and keep your readers updated on any new, exciting developments in your company. Aim to teach and help your customers through your blog, rather than promote your business. It needs to be valuable to the people reaching your site; it’s not a tool for you to advertise yourself.

Social media is another tool you can use to enhance brand awareness. Using pictures, and showing a good (family-friendly) sense of humour, can encourage potential customers to engage with your company on a more personal level. You can even run competitions through this platform, to extend your reach.

 

[Image credit: www.sentosacoveguru.com]

Share

Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

Tagged as: , ,