Starting a Jet Ski & Boating Business
Business Overview:
If you live near the water and you’re looking for a way to tap into the lucrative world of watercraft sales, consider starting a jet ski & boating business. Where there is a body of water, there are boats and plenty of people looking to purchase boats. There are probably also a few boat shops in your area so it’s important to evaluate your competition in order to set your business apart. A boating dealership can be one of the most profitable business ideas available if you position your store correctly and match your products with your customers. Consider the economic status of the area before deciding what types of watercraft you will sell. Also consider what types of boats are most popular in your area. If you live on a lake that’s used primarily for fishing, you should sell fishing boats in all sizes and at a variety of price points. However, if you live near the ocean where the most popular boat is a luxury yacht, your inventory will be much different. If you don’t have prior boating or sales experience, you should look into purchasing a franchise business. A franchise will come with training and support that will help you get started in this industry. Regardless of what type of boats you carry, you should also carry a variety of jet skis (also called personal watercraft). Jet skis are popular on every lake and off the coast of every ocean and they offer water lovers a more affordable option for getting on the water. In addition to sales, you could also offer boat and jet ski rental as well as boat and jet ski repairs as a way to bring in more customers. If you are not qualified to do the repairs yourself, you should hire an expert boat repair specialist to work for you. As the storeowner, you need to be free to help customers, deal with distributors and manage the daily administration of your business. If you offer unique products and excellent customer service, your boat and jet ski dealership will soon be the go-to store for anyone in your area.
A Day in the Life of a Jet Ski and Boating Business Owner:
Your day will begin by opening your store and welcoming customers. You will spend your day helping customers with questions about their boating needs and hopefully making some sales. You or your staff will handle repair orders and you will coordinate repairs with your repair personnel. You will likely spend some time on the phone with manufacturers and distributors arranging delivery of new items for you to sell.
About Your Customers:
Your customers will be individuals looking to purchase or rent boats and jet skis.
What You Need to Start:
- Boating and jet ski business plan
- Storefront
- Franchise (optional)
- Marketing plan
- Inventory of watercraft
- Repair personnel
- Sales and administrative staff
- Computer with finance software
The Good:
- In areas near water, boating is big business.
- You can increase sales by offering repairs as well.
- You can hire a staff to do most of the work for you.
- Franchises are available to help you get started.
The Bad:
- The start-up investment is high.
- Depending on the climate you live in, boating can be a seasonal business.
Resources:
- American Boating Association
- National Marine Manufacturers Association
- Bureau of Labor Statistics on Boat Dealers
- Wikipedia on Jet Skis
About The Author
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