How To Start JetSki Rental Business | Business Case Breakdown

[@skoopqueen]

I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second her skie already which is on rental, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this

[@eadad4371]

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.

[@skoopqueen.]

@@eadad4371 Alright so generally, investing requires higher knowledge. For this reason, It's important to have a solid support structure (financial consultant) to guide you through especially in asset picking. I operate with (REGINA LOUISE COLLARO) an investment advisor who partners with a licensed wealth management firm. For the record, the experience has been the best for my finance. She is quite popular for her services so you might have heard of her. She made me financially stable investing through her help, now I earn on a monthly basis through her passive income strategy...So I’ll advise you do get a good Investment advisor for yourself.

[@eadad4371]

@@skoopqueen. That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this person?

[@skoopqueen.]

@@eadad4371 look her up on the internet and leave her a message she's quite popular for her services as she was recently featured on cnn. She can work with anyone irrespective of where their located

[@emeldcentor1474]

@@skoopqueen. I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me

[@VladOnEarth]

I take a way simpler approach, I buy a jetski for $10k, and it rents for $150/hr. Potential gross is $300-$600 a day from each. $1200-$2400 from 4. per day. And that can be averaged for 5 days a week, this will allow a room for any downtime - $6000/week. $24k a month from 5 jetski. Yes, you need one more for yourself for towing and rescue otherwise you will not be able to rent all 4 in the same time. There are other big mistakes in this calculation, but I dont feel like covering this any further, too much to type

[@donovoncooley6114]

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

[@TheEdward234]

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.

[@coyote208]

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

[@coyote208]

@@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

[@Gustavo-uc9rr]

​@@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).

[@jhill6033]

So i am an auto worker and I have a few toys. I also have a few rental properties and I love residual income but my methods are old school. I have long term renters and now want some short term rentals in vacation spots. So I been thinking about my kayaks, I have motorized fishing Kayaks and now about to purchase the fishing Seadoo but figured, hell I can rent this stuff out and make it a business?

[@beachsiderental]

2 jet skis cost 5000 per year in insurance. if you're renting two out you will need a double trailer. An hour rental would only work if you were at the lake, if you were on the lake your expense would be a lot higher than 500 per month. You need payment processing. You need to stock impellers and wear rings, oil changes, mechanical break downs. Pfds need to be replaced every few years.

[@cevdetmadak3947]

Great video! Could you please make a video for the liability documents for the customers to sign? Or do you have an example that you can share?

[@Swellist]

Insurance 5$ a week? Thats $260 a year for a Liability Insurance Policy of $1m. Impossible.

[@eduardoferraz10]

This is a course , amazing video

[@Mental_Resilience]

the video is great but my fear is that each customer have to show his PWC license and i think most people don't have them and why would someone get a license to ride a jet ski once or twice ? i still don't understand why most of the governments around the world require this license its ridiculous its one of the easiest thing to operate

[@peanut8635]

Can u hire a management team if you live somewhere in texas

[@BusinessWorm]

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.

[@shannonrogers6925]

@businessworm thank you for an analytical breakdown of profit and loss. It's a great breakdown that i can use for other business ideas.

[@homecook9052]

You said if they pay for the damage,how to handle that situation and not lose money if they crash my jetski

[@Gtbie_]

I like how you put together everything

[@rileyhiggins4753]

Vary good video. Thanks a lot. I need to watch it a few times

[@floridabeachtrucks2906]

You're not supposed to calculate costs in revenue

[@alexisggarcia8198]

I’m starting soon !! (: here in San Diego I’m happy to see more info but excited to see that my area is perfect for this business 🙏🏻

[@TheFinesseDon]

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

[@VladOnEarth]

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

[@ChronicWonder117]

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

[@VladOnEarth]

@@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 🤷🏻‍♂️😁

[@ChronicWonder117]

@@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 🥸

[@emanuelsauz12345]

Could we not go to a lake and do quick rides for $$$, like for example Go karts charge $40 per 20mins Jet ski’s should be $50 for driver (1) rider 20mins $10 per extra passenger’s (2 Max) per jet ski -30mins for full driver & passenger’s purchase -$70 for 3 people 30mins Can someone lmk how to make this possible

[@jcarlson1545]

Well put together. I really appreciate the time you put into this. I’m looking into kayaks, paddle boards, and jet-ski rental business. Any information like this has been really helpful

[@itweetlykmadt]

hello, have you been able to start this up?

[@solargiousa]

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

[@matthewdurdin]

I know this was a lot of hard work. Thank you!

[@munawarhossain5890]

one of the best videos i've seen in awhile - very business savvy!!

[@tonysimmons3164]

Too bad you need a license for a pwc in almost all European countries.

[@donovoncooley6114]

bro have you actually done this business? because allot our your number are wayyyy off bro

[@richgenix]

Intresting

[@dreknotz1996]

Try finding jetskis to buy in order to rent.

[@justthisguy1948]

I did it so it can be done

[@solargiousa]

Wow, great video. Even if the rates change in the local area, this is a fantastic breakdown of what to expect. I’m planning to buy a home near the water iin Long Island . Can you recommend , What other type of water equipment or craft can I purchase that May be more lucrative for rental as a side hustle. ???? Use the same time to rent more than one type of item to increase my income per hour. Thanks

[@NASATH3GR3AT]

Very good .

[@quisander9349]

How much should prep fees be when buying a jet ski?

[@bukkwheat66]

Are you not calculating commercial insurance?

[@BusinessWorm]

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

[@chrisreynolds2410]

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

[@Fitforlyfewellness]

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

[@MsDivahouse]

Love the video but it’s not looking like it’s worth it

[@derekcoleman]

Are you in Miami? I'm looking for someone to start a small business with and I'm exploring jet skis and a pontoon boat.

[@Yachtpartymiami]

I’m in Miami @yachtpartymiami

[@marketsurfer]

Who will insure this business?

[@samiloul2878]

Broooooooooo, thank you for this gem, this the first time I feel lucky with youtube algorithm, looking forward for more content

[@JAleGP]

What license do i need to start renting?

[@robertomarcano4992]

Thank u

[@stevewhelan3770]

What about business licenses, taxes etc?

[@UncleBildo]

$400 for 2 hrs locally but they have a complete monopoly!

[@UncleBildo]

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

[@keatonbentley8553]

The closest lake is 25 minutes from me. Would this still be feasible?

[@justthisguy1948]

Yes

[@BusinessWorm]

UPDATE: Thank you everyone for your support! Here's the spreadsheet: docs.google.com/spreadsheets/d/1pu6nq3iIvhyQWmYuS5NkqjIXSspqdjjMQVdNgMZJHeE/edit?usp=sharing After uploading I realized that the numbers might be a bit hard to follow. If the video gets 100 likes, I'll share a spreadsheet with all the numbers

[@rakyesweet9788]

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 [e-mail] if you’re looking to help. Thanks a lot for the info

[@MiningforGems]

Can I have a copy of the spreadsheet. My email is [e-mail]

[@robjton]

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 [e-mail] Thanks again for the info bro

[@hamzaettaleb5025]

thank you for that !

[@michaelperez5240]

How revenue can a company with 8 Jetski make in Miami during a Year?

[@taliyy_]

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.

[@joshuarodriguez31]

Was the revenue breakdown based off of 1 jetski being rented?

[@BusinessWorm]

2 jetskis

[@libertyforamericanow]

Winters are sloooooww

[@pamelathomas440]

going to open jet ski rent

[@MsDivahouse]

Best video though on this topic

[@lemywilliams8167]

I take a waaaay more simple approach . # 1 - Finance the Cheapest pair of Jetski’s - #2 - Grab a Craigslist $500 beat-up pickup truck . #3 - Take your children out of school to have them work for ya for free to build your empire . #4 - Then (“At the end of the year”) - Purchase online Diploma’s for each of them online. #5 - Then send them all to low cost local community college. #6 - Take the earnings & go to Hawaii 😮

[@DrOcKa20]

6 reasons to fail. 😂

[@Millennial1031]

Commercial rental liability insurance costs about $5k a month for a fleet of 12.

[@anthonylumbi1801]

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

[@adventuretastic]

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.

[@VladOnEarth]

if you start a jetski business the chances are you probably arent riding a public bus, so I dont think taking a car lease into expense is reasonable, at least not the whole amount anyways. And a lot of people own their cars also. And that accounted for almost half of weekly expense in your calculation. Also most of this data isnt correct at all and wil vary greatly. Not jsut car lease, nobody is going to lease a separate car just for that. Gas expense for car is $400 a month, thats a huge stretch, especially when there is a shit load of electric cars available on a market already. I have not seen $100 jetski prices in florida EVER, it is always $150/hr, and $200 for 2 hours etc. $500 for parking.... for what? Your either park your jetski in which case you dont need a car to transport them all the time, or if you transport then you dont pay for parking as you will keep them at home. Lots of fundamental errors in this calculation I must say, not sure whether intentional or accidental.

[@langstenmcintosh6852]

What happens if someone damages the jet ski ?

[@jhill6033]

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

[@bryanmontenegro1244]

When you say “$250 for licensing per watercraft” does this mean that for EACH WC you would need to complete this “license”? Is this an ongoing annual expense? What is this license and where can I get more info? In terms of insurance, the $5/w or $260/year, is that comprehensive insurance or just liability? Is that per wc or net for all 2 wcs? Thanks.

[@kimjong-illest4735]

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

[@davidsanchez2450]

Wow man I feel like a found a gold mine in information with this video. Thank you so much!

[@MiningforGems]

Awesome video

[@black007die]

I'm new looking to get in this business

[@TheSoloist1Alone]

Ideal location would be on 1 of the Caribbean islands 🙏🏾💰✊🏾💯

[@luucid1631]

Need another business breakdown

[@BusinessWorm]

Working on it! Will be out soon!

[@chrisreynolds2410]

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

[@BusinessWorm]

@@chrisreynolds2410 Please email me to [e-mail]

[@richgenix]

This is the exact video I was looking for, now I gatta decide either gonna move to Miami or La not sure yet

[@parmasar6666]

I live in Miami and starting one also

[@richgenix]

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

[@aviadavidan6487]

@@parmasar6666 how is going?

[@perfectshotfilming]

Dope video!

[@JamesJames-pj8fl]

Very straightforward video thanks

[@brianmashoko]

Thanks, mate, great video and detailed breakdown of costs. I'm in Australia and we get a lot of sun most of the year hoping to get 2 jetskii's as a start and then add on if the business workout.

[@solargiousa]

Did you start? How are your results?

[@iconichometheatres993]

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

[@solargiousa]

@@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

[@sameremam7490]

Thank you, great presentation Bro

[@texreloved]

in california, dont you need a boating license to use the pwcs?

[@BusinessWorm]

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

[@Parra_made]

Good luck finding cheap commercial liability insurance

[@eskay231]

You are a G thank you

[@alexsipovich4983]

Hello, can you make little tutorial in dm or mail? I’ll be really appreciate for your help, cause I’m try to find more information about this business, but it’s really hard to find it..

[@chipgiles4518]

Well done, Sir. Very informative.

[@JoseRodriguez-qe7cl]

Best video ever! Best video on this hands down!

[@franciscoalfaro6004]

🙋 question: how do you charge 1hr. Are you there at the water ready does the customer drive tow it?

[@coolbreeze4326]

bandmankevo

[@TheBoyz305]

Amazing video !!!

[@RelentlessSavageryGaming]

Great video

[@fernandocelsodejesusrodrig1562]

very good video. congratulations.

[@dewantausifyarchowdhury2449]

This business is insanely profitable

[@peetydontpass8309]

I was going to rent a Jet Ski once for 500 dollars a day. Instead I took the money and put it as a down payment for a Jetski. I own one now.

[@badboy121394]

This 😁

[@speedstriver3852]

I enjoyed watching your video. It was very knowledgeable. You should keep them coming.

[@kcmar91]

Check your email, get back to me brother

[@ceomark.]

Great video. Thinking about getting 3-4 and renting over the summers in NC

[@solargiousa]

Any luck with the jetski rental business?

[@ainsley1114]

Very detailed insight, thanks.

[@armandovancini5123]

can you post your email please