Starting a jetski rental at 15

[followingjesusdaily1975]

@marfamu around 25k

 

[613jono]

@followingjesusdaily1975 25k is high.
Most rental car companies pay 2-3k a year per car.
Jet Skis will be less

 

[sebaaaa]

@613jono Hahaha ya no, 20k per jet ski at the minimum

 

[613jono]

@sebaaaa My man, I currently insure 20+ marinas.
Which rent boats and Jet skis, 20k would be for approx 15-20 total units.
Not per unit

 

[sensusfidelium]

@613jono Can you help me with insurance in NJ?

 

[sensusfidelium]

@613jono Jet ski rental

 

[613jono]

@sensusfidelium Are you mobile rental or have a physical location?

 

[tsquared]

@sebaaaa Hahaha ya no.

 

[sebaaaa]

@tsquared I’m a captain in Florida it’s stupid expensive these days.

 

[tsquared]

@sebaaaa A jet ski captain?

Sorry but I’m taking the insurance agent’s word over yours.

The whole equation is going to be far different for a business in Canada, operating on lakes, 7 months per year, Vs a business operating on the ocean, 12 months per year.

 

[mrsblessedmommy]

@marfamu Expensive when they consider it a high chance of injury.

I have a bounce house business it’s about 13k a year to get the insurance required by the city to operate in city parks.

 

[sensusfidelium]

@marfamu I own a jet ski rental business in New Jersey. You are in Canada? I can seriously help you… don’t start a jet ski rental business

 

[marfamu]

@sensusfidelium only a side hustle for summer why tho?

 

[mrsbrit]

@marfamu Keep iterating. This idea is not the one.

 

[chasmate]

@marfamu How about a kayak rental business? Much simpler business model and a kayak can be paid off after 5 days of rentals roughly

 

[murphypl12]

@marfamu Get strong liability insurance. My buddy who rents jet skis says most of his customers completely lack common sense, and won’t hesitate to suit you for their idiocy.

 

[marfamu]

@murphypl12 Where does he rent them?

 

[cricketts]

@marfamu What happens when someone wrecks your jet ski and it costs 8k to fix and the repair takes 2 months?

 

[freedomgirl]

@cricketts its just a possibility. Either way stfu

 

[psaxno]

@marfamu A lot of people are saying it’s a bad idea for good reason. The over head and ROI just aren’t in the numbers. Insurance, maintenance etc will eat into any potential profits. Sit down and calculate all the expenses and compare that to your expected revenue and you see what they are talking about. This is good practice for any business you plan to start.

I would suggest using the money to buy tools and materials to either produce something or provide a service.

No matter what you decide, learning to crunch the numbers is the first step.