Is your boat sitting around unused for extended periods because you haven’t got the time to take it out every other week, even during summers? If that’s the case, it might be burning a hole in your pocket instead of being a means to your summer fun since the boat requires costly maintenance all year round.
If you’re going through such a phase where your yacht is beginning to feel like more of a burden, it’s time to explore your options to use your vessel for side hustles. When you begin to earn money from your boat, not only will you be able to keep up with the repairs, but your vessel may also become a prominent source of side income.
Here are five smart ways you can make money off your boat:
1- Rent Your Boat for Photographic Tours
You must have heard how people book different venues for holding mesmerizing inland photograph sessions on their special occasions. For example, some couples like to have a pre or post-wedding shoot that’s unique from others. You can take this to the next level and advertise your boat on different photographic forums to start making money. Even if you aren’t an adequate photographer yourself, you can always hire a professional for a few hours, still making a ton of money off it.
2- Offer Different Services to Other Cruisers
Similarly, if you haven’t heard of marine delivery services yet, it might be a good time to look into this as a side hustle. You can hire a responsible person for this job and make your boat available for cruisers at all times to offer water or food delivery services. You can even offer extra paid services like cleaning the bottom of the hull or making some particular renovations on individuals’ boats.
3- Advertise Your Boat for Holding Different Events
You can also advertise your boat on different platforms to be used as a venue for holding different events. For example, some couples are always on the lookout for different ways to tie the knot. Similarly, a lot of business companies like to set up team-building activities in different venues to give their employees a treat. Sky’s the limit when it comes to making money off your boat with this specific approach.
4- Contact Media Companies for Using Your Boat as a Prop
Another smart way to earn money from your boat is to contact different media companies, offering them your boat to be used as a prop for commercials and other shootings. If you have a yacht where a lot of filming can happen, don’t hesitate to get the word around since you can make a lot of money with this.
5- Rent Your Yacht to Charter Companies
Lastly, you can allow charter companies to hire your boat on specific days while offering you a percentage of the rental. However, you should also keep in mind that this may affect the resale value of your boat, considering you plan to sell yours in the future.
As long as you research the ins and outs of any of the mentioned ways to earn money from your boat before the actual implementation, you can successfully pile up your savings in the long run!