How To Start JetSki Rental Business | Business Case Breakdown 

Glad I came across this comment section. I was struggling to decide what to do with a good amount of money in the bank doing nothing. I would be happy if you could advise me, as I am ready to go the passive income path.

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i was thinking the same thing i dont think he has ever actually done this

How do you actually do this? Let's say I buy a jetski right now. Do I deliver it to and from the lake? Do I have customers pick it up from my house? How does the whole stealing and damage thing works? Insurance? Would you be interested in talking about it more? I'm trying to open up a seasonal side hustle in state of Washington, but could use some help figuring it out.

Yeah I stopped watching after 2 minutes because it was just ridiculous. All that leasing lost me LOL. Thanks for your comment!

@@TheEdward234yeah these are the same questions I have and the only info I find online is just copy and paste “get LLC, but jetski, insurance, now rent it out!” LOL

​@@TheEdward234 Hi man, I'm studying this business because I'm planning to start it soon. The best way to learn is renting a PWC from an existing company and then getting some information from them. I have analysed some companies websites (from Toronto) and they ask security deposits, if the client asks for delivery the amount of money needed is a little bit less but if the client chooses to tow it to the lake then the deposit is higher. The deposit made by the client will cover the damage. About stealing, you must have a GPS in your PWC (the max amount of trackers you can hide in it). These are some details that no one making these videos comment about. Another detail is the maintenance, I didn't see the guy mention it here in the vid but I think you may spend less than 1k a year for a seasonal business (for a Spark or a GTI130).

hello, have you been able to start this up?

Did you get your bsns started? Where r u located? Good luck

Did you start? How are your results?

@@solargiousa starting in September, first jetski arrived last month and second one in August. Are you thinking of doing it too?

@@iconichometheatres993 thanks for responding. yes. In in Long Island NY. Only 5-6 mo of usage. Delivery is mid August for a GtI. Good luck

Hey I’m about to start myself any updates and tips to a newbie from your experience?

perfect? Its freezing over there year around lol. At least for doing anything on water.

@@VladOnEarth you clearly don’t live in San Diego

@@ChronicWonder117 I clearly did at some point :) you clearly have nothing to compare san diego with to be objective 😉 Absolutely unusable cold ocean over there year around, probably worst I have seen in temrs of actually being able to interact with it, beaches are also not pretty. It has some really nice views though by the ocean. But "you can look but cant touch" isnt my type of fun 🤷🏻‍♂️😁

@@VladOnEarth You're right, I haven't lived anywhere else long enough to compare water conditions but that's not the point. The point is that San Diego is in fact a perfect area for this kind of business as it is "America's Finest City". I am a dock master for a private boating club (Freedom Boat Club) and we have locations in Mission Bay and San Diego bay. I see multiple jet ski businesses being successful with constant rentals being taken out by people from all over the world and they all have smiles on their faces when walking on the docks. It's just a matter of having the capital for start up costs and the patience for the regulations of owning a jet ski business. Also, not too sure what you mean by the beaches not being pretty, they're quite beautiful in my opinion. And I guess the ocean over here can be considered "unusable" for those who are very sensitive to the cold. "Unusable cold ocean year round" is an overstatement. Ya when it gets down to 57 degrees Fahrenheit in the winter a wetsuit is definitely advised, but in the summer when the water gets up to 72 degrees Fahrenheit a normal bathing suit will do just fine 🥸

I live in Miami and starting one also

@@parmasar6666 how’s it going? I was wondering if it’s too over saturated??

@@parmasar6666 how is going?

Yes... But you'll need a bigger fleet With 2 PWCs you will be barely breaking even. You will have to at least double your fleet. If you double your fleet, your revenues and expenses will roughly double as well. BUT your time contribution shouldn't increase much. So if you're making 88K/year with 2 watercrafts, you'll make roughly 176K with 4. Let's say instead of spending 50hrs a week, you'll now need 60hrs. If you get someone at $15/hr ($30/hr with overhead), for the whole year that's 94K in salaries which means you can pocket 82K. Considering your personal time contribution in this case will be minimal, say 10hr/week, you'll be earning a fat $158/hr. However, the reason why in the video I only break down the case with 2 watercrafts is because it is the minimum required number of units to start the business. And it's always beneficial to start with minimal investment to validate your assumptions before scaling up.

Yes

That’s for personal insurance. Commercial insurance runs about 500 a month per unit depending on the year make and model of the ski.

I did it so it can be done

Hi Zing, sorry to come out of the blue with a question... but who did you go through for commercial insurance?

Commercial insurance in Florida for jet ski rental is super expensive. I'm getting a quote for 2 pwc for 24k to 56k a year. If anyone know a better commercial insurance company please let me know. Thanks.

Im sure it works like a car rental agreement, or they may have to provide a credit card and sign a damage?

6 reasons to fail. 😂

I’m in Miami @yachtpartymiami

Any luck with the jetski rental business?

2 jetskis

You will have to confirm with your local coast guard. But generally, no licence is required but the renter has to complete a basic educational walkthrough (varies by the state), some states will require to have a signed proof of completion of such education

​@Charlie Got Locks Nope. Middle of the high desert in Eastern Washington state.....

Assuming an average rental rate of $100 per hour and a rental season of 100 days, a company with 8 PWCs could potentially generate around $192,000 in revenue ($100 per hour x 8 PWCs x 8 hours per day x 100 days). However, this is just an estimate and actual revenue may be higher or lower depending on the factors mentioned earlier.

You only really need commercial insurance for the watecrafts, that's $5/week per watecraft (included in calculations)

Does that insurance protect your assets in the event of something unforeseen happening?

In Florida it's only through prime insurance. You need to have atleast two jet skis and minimum, is $15k a year which is about 1200 a month boss

Working on it! Will be out soon!

Can I pay to speak to you on the phone or FaceTime please?

@@chrisreynolds2410 Please email me to businessworm94@gmail.com

This 😁

hey man great video! I’m very interested in this business and if you could somehow send me a spreadsheet that would be amazing. My email is sweetrakye2@gmail.com if you’re looking to help. Thanks a lot for the info

Can I have a copy of the spreadsheet. My email is info@1hundredbrand.com

Awesome video. Can’t wait to see your other break downs. Also I’d love a copy of that spread sheet. If your willing to send it my email is bundleboxx@gmail.com Thanks again for the info bro