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  1. #1
    krott5333
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    Hi, I'm new! Looking to get into starting a jet-ski rental business

    never rode a jet ski..

    but my friend and I have a good opportunity to start a rental business..

    anyone have any experience in such that could give me some tips and pointers?


    Also, I found out that jet skis are more expensive than I realized.. so I'll probably be going used.

    Whats a reasonably priced and reliable used machine that would be versatile enough for beginners and moderately experienced riders?

  2. #2
    PWCToday.com Is My Home Away From Home jeepfamily's Avatar
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    Re: Hi, I'm new! Looking to get into starting a jet-ski rental business

    have you priced insurance?
    checked out boaters license laws in your state?

    how good of an opportunity do you have that you need to buy used?

  3. #3
    krott5333
    Guest

    Re: Hi, I'm new! Looking to get into starting a jet-ski rental business

    Quote Originally Posted by jeepfamily
    have you priced insurance?
    checked out boaters license laws in your state?

    how good of an opportunity do you have that you need to buy used?
    well we have a good location with potential..


    but funding is going to be limited... my friend will be a 50/50 partner..
    so he'll need to provide half the startup capital..

    and to be honest.. though you'll probably laugh at me.. I'm going to try to get a loan from my rich uncle... and that shouldnt be a problem, we have a good relationship and he knows a good idea when he sees it. I would just like to get as much information, specifically a detailed breakdown of costs, before I meet with him.

    as far as insurance goes, we're meeting with a few agents on tuesday.

    Tomorrow I'm going to find out about credit card machine costs and offsite storage for the skis.

    my partner is going to be looking into ski and trailer inspection and registration costs and what needs to be done about that.

    etc etc.

    I'm assuming I need public liability insurance, jet ski insurance, and renters insurance (we'll be renting the property).


    And I was hoping to be able to get this thing started, comfortably, for under $20k. ($10k each)
    Last edited by krott5333; 12-30-2006 at 03:47 AM.

  4. #4
    krott5333
    Guest

    Re: Hi, I'm new! Looking to get into starting a jet-ski rental business

    and I plan on getting 4 skis for the first year

  5. #5
    PWCToday Regular
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    Re: Hi, I'm new! Looking to get into starting a jet-ski rental business

    And then the cost of governing the skis with remote shut down etc....
    Running costs.
    Can you fix little breakdowns or will you be relying on a shop mechanic etc
    seems a little far fetched for under 20000
    03 1050 twin pipe RXDI, 01 RXX, 06 SXR-800

  6. #6
    PWCToday Guru
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    Re: Hi, I'm new! Looking to get into starting a jet-ski rental business

    My friend took over an existing business for two years and then finally gave up on it. The location was good (Jersey shore), but unless you are prepared for some stress (clueless newbies who want to impress their girlfriends, but end up breaking your skis) I would not go for it. His business was profitable, but barely and finallly he decided to get out of it because it wasn't worth the hassle

    If you do decide to go for it, the Yamaha twin 701 sitdowns are pretty much bulletproof and are one of the most used skis by rental companies (at least in NJ).

    Also, you need to be able to do your own wrenching/troubleshooting or you will lose your money to downtime, especially with only four skis.

  7. #7
    PWCToday Newbie strictlyh2o's Avatar
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    Re: Hi, I'm new! Looking to get into starting a jet-ski rental business

    I started a jet ski rental 2 years ago. It's going to cost you a arm and leg. Insurance is at least 1 to 2 million dollar policy. Plus rent with the local lake/county. Your going to have to deal with a lot of people, who just don't care about your skis. I started with 4 skis and built a fleet of 12. I do it on weekends only and by appointmet only. The rent alone was 5k or 10% whatever is greater for the year. Not sure what your area is like. If you have any ?'s hit me up.

  8. #8
    PWCToday.com Is My Home Away From Home Shonuff's Avatar
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    Re: Hi, I'm new! Looking to get into starting a jet-ski rental business

    Quote Originally Posted by strictlyh2o
    I started a jet ski rental 2 years ago. It's going to cost you a arm and leg. Insurance is at least 1 to 2 million dollar policy. Plus rent with the local lake/county. Your going to have to deal with a lot of people, who just don't care about your skis. I started with 4 skis and built a fleet of 12. I do it on weekends only and by appointmet only. The rent alone was 5k or 10% whatever is greater for the year. Not sure what your area is like. If you have any ?'s hit me up.
    Contact other rental companies like strictlyh20 here and find out what they did right and what they wish they could do over. Get a good contract, make sure your renters know they will be paying for damages and ski downtime if they break your ski.

    I wish you the very best of luck.

    Get your credit card machine on eBay. A little Verifone Omni should do the trick nicely. Then call MBNA and have them send a rep out to you to set it up with their service sending money into your account.
    SUR #192

  9. #9
    resident guru
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    Re: Hi, I'm new! Looking to get into starting a jet-ski rental business

    Go with pontoon boat rental and have the pwc as a side to it.
    Buy used low hour Yamahas or Kawis (no new skis)
    Pontoon boats are better because alot less accidents ...more money per rental...more reliable, and they are slow.
    Pwcs especially pwcs always alot of accdents.

  10. #10
    PWCToday.com Is My Home Away From Home WFO Speedracer's Avatar
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    Re: Hi, I'm new! Looking to get into starting a jet-ski rental business

    Okay I am going to tell you how most people do it starting out.Its called a bank loan,you take out a loan for the skis and equipment,life jackets etc.By July you should have made enough money to pay back the loans in full,all monies after that are considered profit.At the end of the season you patch up all the skis and then decide if they are capable of being run for another year or not.Those you think will make it another year are repaired and stored till next year,those you are Leary of are repaired and sold.Next year same deal except hopefully you are not having to pay off all new skis,you should have some good usable skis from the last year.Never keep the skis for more than two years,install automatic bilge pumps on all skis and if you can get your hands on them aluminum impellers are preferred,much cheaper to replace and if rocks go through the jet pumps usually only the impellers will be damaged.Yamaha wave runner XL 700's make excellent rental boats,premixing is also a good idea as well as fogging the engines after each day of use.Insurance is only handled by two companies,never let your insurance lapse or the other company will not insure you either,that means you keep the insurance year round even though you don't use it year round.Also customer pay for fuel used and damages to the skis on the spot,before they leave the premises.
    Helping the PWCT community with service related issues since 2006, what have you done for PWCT lately ?

    If this was a comedian forum I would be Rodney Dangerfield, I don't get no respect !

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