Business Ideas - Boating / Cruising / Yachting?

[andreas.mehlin]

Do you have any good business ideas within boating/cruising/yachting?
Somewhere where the weather is nice

Start up a real marina would have been very nice but would cost a fortune.
How about renting out moorings? Have a small yacht club for cruisers...and the question: WHERE?

Start up capital: 50k USD.
Do you have any good business ideas?

[boatman61]

Originally Posted by andreas.mehlin

Do you have any good business ideas within boating/cruising/yachting?
Somewhere where the weather is nice

Start up a real marina would have been very nice but would cost a fortune.
How about renting out moorings? Have a small yacht club for cruisers...and the question: WHERE?

Start up capital: 50k USD.
Do you have any good business ideas?

Does the 'IDEA' buy one in...
or is 50K expected to be stapled onto it...

[andreas.mehlin]

Originally Posted by boatman61

Does the 'IDEA' buy one in...
or is 50K expected to be stapled onto it...

well, depends how good it is

[Randyonr3]

Not at the moment but we're planning on heading out again in a couple years and we might be interested in sell our business.. We Own OxBow Canvas and upholstery and are located on the banks of the georgina Slough..
Google OxBow Marina......
Just my wife and I last year but recently we've added 4 employees.. and we were booked through the winter and are 3 to 4 months out on large projects at present..
If its something you might be interested in, give us a shout.......

[Wavewacker]

Not rying to be a smarty type, but really, what business experience do you have....because if you were truly a buiness type, you would not have asked that question.

50K is alot of money, then again it's hardly anything in terms of seed money. Generally, with one having extensive experience in a target industry, you will need to flip for the costs of most of any inventory, at least 50% and you''ll need at least 20/25% of a down payment for hard costs, land and buildings. You'll need to cover all the soft costs, attorney fees, accountant for pro-forma statements, surveys, business palns, software, and the like. So, with 50K, knocking out 10K for incidental costs, leaving 40K, you're looking at a business of no more than 200K, tops, more like 150K. So what kind of business will provide an income sufficient to live on and pay expenses in that cost arena? If you are willing to work and earn 25 to 30K to take home, you will need to gross nearly twice that, you'll need a debt coverage ration of 125% plus pre tax income. Guess what I'm getting at is that financially, 50K is not enough to start a business providing goods, beer, bait shop, gas station, clothing store, not much beyond a consignment thrift shop. If there is no land/building involved, you'll be renting, just assume it being a wash at this point.

Buying an existing business and having the seller finance it might be an opportunity, but do you have the skills and knowledge to make it a winner? Existing businesses sell when people die, get too sick to work, or when the owner fails to make enough money to make it worth keeping...that is in the small business world. In most businesses, you can find an employee or manager if you're really making money. Some owners do just get fed up and want to take off, but don't expect your initial income to be what they enjoyed, regardless of the type of business.

I'd suggest you look toward a service, boat cleaning, deck maintenance, wood refinishing, maybe a canvas repair, but you need the experience in that service. You also need some basic business knowledge unless you want to open a kool aid stand or just wash windows or mow grass...and even that can become involved, not to slight such services.

So, what's your experience, what do ya do and what do ya think ya can do? Might be your best investment could be on land and have nothing to do with boats!

[andreas.mehlin]

Originally Posted by Wavewacker

Not rying to be a smarty type, but really, what business experience do you have....because if you were truly a buiness type, you would not have asked that question.

50K is alot of money, then again it's hardly anything in terms of seed money. Generally, with one having extensive experience in a target industry, you will need to flip for the costs of most of any inventory, at least 50% and you''ll need at least 20/25% of a down payment for hard costs, land and buildings. You'll need to cover all the soft costs, attorney fees, accountant for pro-forma statements, surveys, business palns, software, and the like. So, with 50K, knocking out 10K for incidental costs, leaving 40K, you're looking at a business of no more than 200K, tops, more like 150K. So what kind of business will provide an income sufficient to live on and pay expenses in that cost arena? If you are willing to work and earn 25 to 30K to take home, you will need to gross nearly twice that, you'll need a debt coverage ration of 125% plus pre tax income. Guess what I'm getting at is that financially, 50K is not enough to start a business providing goods, beer, bait shop, gas station, clothing store, not much beyond a consignment thrift shop. If there is no land/building involved, you'll be renting, just assume it being a wash at this point.

Buying an existing business and having the seller finance it might be an opportunity, but do you have the skills and knowledge to make it a winner? Existing businesses sell when people die, get too sick to work, or when the owner fails to make enough money to make it worth keeping...that is in the small business world. In most businesses, you can find an employee or manager if you're really making money. Some owners do just get fed up and want to take off, but don't expect your initial income to be what they enjoyed, regardless of the type of business.

I'd suggest you look toward a service, boat cleaning, deck maintenance, wood refinishing, maybe a canvas repair, but you need the experience in that service. You also need some basic business knowledge unless you want to open a kool aid stand or just wash windows or mow grass...and even that can become involved, not to slight such services.

So, what's your experience, what do ya do and what do ya think ya can do? Might be your best investment could be on land and have nothing to do with boats!

Good post
I agree and disagree.

It's always easier to start a business within something you are familiar within, but not everything is rocket science.

Have a bachelor degree within enterprising & business development, have crossed the pacific on a 30ft cat I purchased in Panama, have started up en e-commerce business & a shop within paintings (imported from china) and home decoration etc. I like to try new things, and often learn by trial & error.

I know it's not a lot of money when starting a business, thats why it become harder to figure something out. I have lots of ideas I can start up here in Scandinavia...but looking for nice climate

[Wavewacker]

You're right, I didn't consider an e-commerce buisness, you could sure buy alot of junk with 50K and sell it on e-bay! While an e-business is certainly a business activity, I don't consider such as a "hard business".

Being a jobber, straw man, buying goods and drop shipping is another possibility.

Hopefully my post will get the OP to answer questions and we can take it from there.

I'm a finance guy, providing small business loans and hard money. I also partnered in things from a steel fabrication palnt to grocery stores and resturants, motels and even a quilt sewing shop....pretty diversified, LOL. No, I'm not interested, I'm retired!

That's why I work things backwards....

[Sabbatical II]

What about an "on water" security service. I left my first boat on a mooring ball and liked the fact that it only cost me about $400 per year. The downside was that it was broken into 4 times in 4 years. If my new boat ever gets completed it will have to go into a marina because it's worth a whole lot more and the marina is supposed to be a lot more secure. But the marina will cost me about $8000 per year. I would gladly pay $400 a year for my mooring ball and about $500 per year for security (if it worked) and save about $7000 a year. If there was a security guy circulating the top 2 or 3 mooring fields in my area in a small runabout every night I'm sure there would be a lot fewer break ins and you'd only need about 300 to sign up to have a nice little earner. Once you got to about 300 customers there'd be enough in it to pay two partners who could share the work (and time off).

[Inquisitive]

I like the security idea!

[onestepcsy37]

invent something that costs ten cents to make, sells for a dollar, and is habit forming.

[Inquisitive]

Where is your mooring ball?

[Sabbatical II]

Originally Posted by Inquisitive

Where is your mooring ball?

It was at Lake Macquarie, NSW. I sold it last year with the boat.

[David_Old_Jersey]

Originally Posted by Eleebana

What about an "on water" security service. I left my first boat on a mooring ball and liked the fact that it only cost me about $400 per year. The downside was that it was broken into 4 times in 4 years. If my new boat ever gets completed it will have to go into a marina because it's worth a whole lot more and the marina is supposed to be a lot more secure. But the marina will cost me about $8000 per year. I would gladly pay $400 a year for my mooring ball and about $500 per year for security (if it worked) and save about $7000 a year. If there was a security guy circulating the top 2 or 3 mooring fields in my area in a small runabout every night I'm sure there would be a lot fewer break ins and you'd only need about 300 to sign up to have a nice little earner. Once you got to about 300 customers there'd be enough in it to pay two partners who could share the work (and time off).

Maybe install your own technology to alert you to any boarders? so you can respond 24/7 (ish ). A Webcam or 2 would prevent any false alarms requiring you to get off butt - as well as providing evidence against someone. Downside is that might be a few late nights ......but once word gets out, probably not so much. Probably would need to fit in with something else (or 2).....maybe including being a Yacht Broker .

The idea might even work well abroad, own moorings includes a night patrol (of a local) - folk on own hook can also pay, and get a burgee to fly.....so the crims know who to go after ......the idea being that locally based folk know who are the likely suspects / that crims know that someone local (with a financial motivation) will be looking for 'em - and depending on locale, possibly not just to hand over to local law enforcement (if that end of things is possible (reasonable ) in your locale, can usually find that the hands on stuff can get outsourced - indeed, IMO far better if it is).....Crims better off sticking to robbing the unprotected .

[Wavewacker]

As to the security idea, which is a great idea initially, I think David (or resident clown, LOL) has some valid points.

Finding 300 to sign up will probably be hard to do and certainly take time to build up that many clients, so you'll be waiting a long time to break even in your patrol boat I would think.

There are also legal issues. Basically you would be a security guard and in most states need to obtain a license. Some states require testing and frankly the tests are designed so that prior law enforcement experience will be required, that's for the licensee, not your hired help.

What do you do if you catch some kids ripping off a boat? You will have the liability in attempting to stop some act while you also have a duty toyour client to protect property. All you could really do is call the authorities and crooks on the water can be gone before a guy with a badge walks down from a parking lot.

So, how successful could you be? You can't provide 24/7 security by yoiurself either. You sure won't be cruising.

Getting some gadget as an alarm is a good way to go, let the marina owner be responsible (as they will also refuse to be, but it depends on the circumstances) like a landlord providing a lock on the front door.

Seems to me that a labor skill related to boating, like glass work, woodworking, welding, mechanical and electrical work would be a good way to goin a service company. Most at a low investment.

Maybe some could be in the financial services industry, insurance, investment advisor and financial products.

Writing and providing articles seems to be a good money making line as well, for those who can.

[boatman61]

Security's old hat in Europe... there's lotsa 'I've had enuf so I staying here on my boat' expats in the Med etc who do what is called Guardianage...
Basically they check out your boat regularly and wash her down once a week to keep the bird **** to a minimum... round 100+ euro/month...