Fishing Boat Rental Question

[Buster_boy]

I've noticed on the reservoir where I keep my pontoon docked there are plenty of guys fishing from the shoreline. No place near here rents small boats for fishing. I've considered buying an inexpensive boat (14ft aluminum type or the like), trailer, gas motor (9.9 or less), trolling motor, fishfinder, all safety gear, etc., and putting it up for rent.

My question is, if you were in the market to rent something like this what would you be comfortable paying?

A) $25 hour w/three hour minimum, additional time prorated in 30 minute increments (assuming additional time is avaliable)
B) $25 hour w/three hour minimum, additional time prorated in 30 minute increments, or $150/day (24 hr time period)
C) A tiered rate based on equipment. Same structure as above but $35/hr $200/day for 9.9hp, trolling motor, oars, $25/or $150/day for trolling motor and oars, $15/hr $100/day for just oars, prorated time applies to all tiers
D) Something other than what I've listed

 

[jbcurt00]

IMO, the up side is miniscule compared to the downside of renting out 5K+ of boat, motor, trailer and gear for even $200 a day.

The closest lake to me that allows motors, rents fishing boats w outboards for about $200 a day (8-10hrs really) w only basic safety gear and no trailer. From a marina w onsite people to deal w problems that come up from rental boat and motor usage (abuse?).

They ONLY have under 5yr old nice, high sided, heavily constructed Alumacraft 14ftrs and ONLY use newish Yamaha 9.9s or for a bit more per day, a 15hp Yammy. Also mostly all less then 5yrs old. I talked to them back in May and asked lots of questions, mostly about 'toon rental but the fishing boats too.

Add in towing it from where ever you keep it (your house?) to wherever they take it and nope, no way I'd consider it.

Oh and as a rental business, theres probably some liability issues, even if they sign a waiver and give you their credit card and insurance info.

 

[Teamster]

How much is your liability insurance going to cost you?

I'm guessing your costs are going to be to high to make for affordable rental rates.

 

[Buster_boy]

Neither of you answered my question.

 

[gm280]

WAY back before I bought my first boat, I use to rent boats from the nearby base. They had aluminum bass type boat setups (I think Bass Tracker types) that they rented for a weekend for a song. I think less the $20 dollars if I remember correctly now. You had to reserve them well ahead of time. But you had to be associated with the base as a service member or even a civil service member.

However, seems every boat engine and trailer I rented, had to have the trailer rewired every time. The lights would never seem to work, or not all of them anyways. So I rewired trailers and replace bulbs every time I rented one. I think I finally rewired all their trailer to the standard trailer wiring standard. But they were very nice for the weekend and cost. Oh, you have to pass a boater's safety course first as well.

That same place rented all types of equipment like tents, campers (pop up) and log splitters and tillers, you name it. Very cheap and nice to rent things like that. Not sure they still do though. JMHO

 

[jbcurt00]

I posted what a 14ft boat and 9.9hp costs per day w no trailer and only basic safety equipment, but thats here. Plus the details of what 200 per day gets you: nearly new, good equipment. Which is much more then 5K per setup w no trailer.

And that it was onsite where the boat would be used, so as a renter, I could expect help fairly quick if needed.

So, for me here, your upfront cost to rent would be considered low but the fact you might not be readily available could be a problem for both you and a renter.

For a non-descript 14ftr and an unknown, unspecified 9.9 both of unknown age, there, where ever you are, it'd be hard to judge what I'd be willing to pay. Because I dont live there.

Sum total was, as noted, its not likely a good business model.

Yep, ^^^, free advice, at no extra charge. Its worth exactly what you paid. Disregard it if you wish.

But yeah, I did answer your question, for what it actually costs here for something similar.

Price adjust for your region and add for trailer as you see fit.

 

[Illinoid]

I would talk to the guys on the shoreline.

 

[jbcurt00]

I would talk to the guys on the shoreline.

Also great idea

Besides they may walk down to the reservoir or not even have a tow capable vehicle....

 

[fhhuber]

local boat rental... $25 hr 4 hr minimum for 12-14 ft jon boat

VERY large security deposit.
They rarely give the deposit back because rental boats get beat to hell.

 

[Buster_boy]

I'm not talking new(er) equipment, but not junk either. I see rigs on Craigslist for $1,200-ish so not a huge investment. What prompted this is I own a pontoon that I keep docked at this reservoir. The guy across from me rents out his 2008 Bennington for cruising or fishing. He gets $150/5 hrs. He advertises on Craigslist and he does pretty good. I don't know he does it (contract, payment, insurance, etc), I just see people there a lot, so I thought I can do this too.

I live one mile from this reservoir so transporting/storage is not an issue. Plus, my neighbor owns a business right across from the ramp and she'll let me park/advertise from there Fri-Sun. A couple of 20-something aged guys are renting SUP's there as well for $30/hr and they're cashing in. I'm not looking to create a start-up or anything, just an opportunity to cash in a bit and payoff a few bills.

At this point I guess I'm doing a weak feasibility study. I thought I'd try here first where experienced boaters are to get a feel for it. I also posted this same topic on a local social media sight and got positive results. I will get over there to ask the guys on shore to get a feel for it as well.

 

[Teamster]

Say you rent this boat to a person who does not know how to safely operate a boat,...

They kill someone,.....


Who gets sued?

Who foots the bill for the inevitable settlement?

 

[WIMUSKY]

Yep, you would need to carry ins. Maybe even business ins....... Check it out before the 1st rental....

 

[Buster_boy]

Ok, does anyone have any positive feedback? What if we get smashed by a freakin asteroid? What If nothing bad happens, people catch lots of fish and have a great time? When you rent a car is the first thing you think of someone crashing into you and killing someone? Your boat can sink at anytime or someone could drown tubing off your boat. Is that the first thing you think of?

Do you honestly think I haven't considered any​ of this? I'm not a freakin idiot you know. Geez!!!

 

[jbcurt00]

Well you did say you based a BM&T rental business startup on the paddle board business success.

BM&T rental is quite different, so.......

 

[ondarvr]

In the right location you could make some money.

Rental places buy new stuff and replace it frequently, and they normally rent out several of them at a time so it pays enough to do it at all.

​People that rent boats can need a good deal of babysitting because many have little to no experience on the water.

 

[fhhuber]

You would have to have GOOD service people and do a very good inspection of the boat going out and when it comes back.
If you use a 2-stroke on the rental boat you pretty much have to lock the gas cap if it uses pre-mix. The renter won't put in the right mix.

I worked in a US Navy recreational gear rental (fleet recreation services)
We rented 12 ft V nose John boats with Johnson 6 hp and 9.9 hp engines and we had to rebuild the engine about every 3rd rental...
This is with people we could easily hold accountable for the damages.
We also rented bicycles and had to respoke a lot of wheels...

I would never think of starting a small boat rental business.

 

[roscoe]

Don't have a clue where you are located, but....

Near me in northern Wisconsin tourist towns with lots of lakes:

16' SmokerCraft with 50 hp motor, electric troller, flat floor with pedestal seats, livewell and fish finder,
lifejackets and all safety equipment, delivered to your cabin or campsite,
$350 for 4 days. $450 for a week.


There are others which rent similar for 2 days, $120/ day.

And ski boats with 115 hp , skis, and tube for $500 for 2 days.

PWC go for $150 for 4 hours, and $200 for 8 hours.
Another place rents out 1 or 2 year old pontoons 24' seating for 12, for $250 a day.

Another chain of lakes near me rents out 14' boats with 9.9 motor for $45 for 4 hours, $65 per day, $300 per week.

This is what I would be willing to pay -- $65 per day,

If I were a fisherman without a boat, at your proposed rates of $150-200 per day, and I fished more than 8 days per year, I would fish from shore for a year, save the rental money, and buy a 14'er with a 9.9 and a trailer the next year and be money ahead forever.

Your pricing options seem pretty complex, keep it simple.
Who is going to be there with a time clock all day to monitor how long they are gone?

Rent for the morning, the afternoon, or 24 hours.

You said its a reservoir. Does that mean there is a dam, currents, undertows?

Do you have a way to run credit cards and take security deposits?

 

[roscoe]

Ok, does anyone have any positive feedback? What if we get smashed by a freakin asteroid? What If nothing bad happens, people catch lots of fish and have a great time? When you rent a car is the first thing you think of someone crashing into you and killing someone? Your boat can sink at anytime or someone could drown tubing off your boat. Is that the first thing you think of?

Do you honestly think I haven't considered any​ of this? I'm not a freakin idiot you know. Geez!!!

No
NA
great
yes
yes
Ummm, lots of people here ( lawyers, marina owners, shop mechanics) that have "been there-done that" and just may have more insight and experience in this area and are just offering you their expertise and experience so you can better consider the risk versus reward.
There is no way for anyone here to know if you have considered "any of this", unless you were to tell us, for all we know, you could be an ambitious 14 year old kid.

One more thing, if you rent out a boat, you will likely need to register it as a "boat for hire."

 

[Old Ironmaker]

I'll give you some positive feedback since that is why you came here dear Sir. I'm positive it is very difficult to make a profit for a myriad of reasons, just as all small businesses find it today in our economic climate. And I am positive I would never base a business plan on advice from Social Media. Asking how much to charge for anything in your specific demographics is like asking "How long is a rope?" Here's a quick formula to success, COST + PROFIT = PRICE.

As for your car rental scenario, yes the first thing I think of is what is my liability renting this car, I guess that would also mean what if I crash this thing and kill someone? I then insure it so that if it comes back in a box covered in blood it doesn't cost me another dime. The same thing goes for taking someone out on our boat, it's called being responsible.

 

[Buster_boy]

I simply asked "...how much would you be comfortable paying"? Only Roscoe gave me that answer, so I sincerely thank you Roscoe. I got other people's business models, legal advice, and every possible doomsday scenario known to mankind.

Thanks everyone and have a good day.
Jim