We all know that owning a boat is an expensive past time with all the jokes that go with it! Two best days of owning a boat…. The day you buy it and the day you sell it! What does B.O.A.T stand for? Bring Over Another Thousand! Etc etc. Well here’s 10 ways to make money with your boat…. read on to find out the 10 ways to make money with your boat at MatesBoat. Why not reduce the cost of boat ownership by getting mates to charter or rent your boat? If it is an income producing asset then you can claim some of the costs on tax. The Australian Tax Office (ATO) even has a dedicated a page to it! Earn some extra money and claim some tax incentives, Win Win.
Here are some ideas for renting or chartering your boat:
- Take people in private fishing charters
Private fishing charters undertaken by a Master with local knowledge and expertise is extremely sort after. I recently went on a commercial fishing charter in Victoria that was horrific. A group of men turned up at 8 AM in the morning completely drunk and even had the audacity to bring drugs onboard! Lucky, I didn’t have my young children with me, they ruined the entire experience. Going on a small privately run fishing charter with a Master that has the right knowledge and experience in the area is gold. Don’t just think about the local population but consider holiday makers and overseas tourists, which is a huge market!
- Take people sight seeing or on boat trails
Victoria has a plethora of places to take people sight seeing including Port Phillip Bay, Lake Eildon, and the Murray River. The Victorian minister for Fishing and Boating released New Boating Trails in July last year 2022. Trails include Geelong to Queenscliff, Docklands through the city along the Yarra River and also include around Western Port Bay and the coastline from Port Melbourne to the Mornington Peninsula. Keep an eye out for dolphins and other marine life. Obviously Victoria is not the only sight seeing destination so look up your local area and see what you could offer!
- Sunset Cruises
Sunset cruises can be a highlight of a tourist’s holiday. Watching the sun come down over the water and seeing the landscape in its beauty. Take romantic couples for a relaxing intimate cruise with some champagne and hand-crafted food.
- Rent your boat out as a ‘BareBoat’ rental
This is the most sort after boat experience being asked for on MatesBoat™. Is your boat sitting idle in storage or on the water? Then get it out and earn some money by renting to approved Mates. This type of rental is not for everyone but it just might be for you! With detailed on-boarding procedures and the right insurance (R&M Insurance Brokers) this can be a great way to earn some passive income. You can also claim a percentage of your costs back on tax! Australian Tax Office (ATO) Why not get several boats and rent them all out or you can even use MatesBoat™ Master Mates Program to have a fully qualified Master take your boat out for you!
- Offer photography cruises
If you are an avid photographer, whether professional or not you will understand that getting to the right locations to get ”The SHOT” no one else has is not easy. Whether you are climbing mountains or bush walking for hours it takes time and patience. Getting “The SHOT” in the marine world is no different. If you want to get that shot of Dolphins playing or other marine life in the wild then you will need a boat! Not all photographers have a boat so this is a perfect opportunity for you to become Mates and help the photographers get “The SHOT”. How To Photograph Marine Life
- Undertake sailing introduction lessons
If you are an experienced sailor and love being out on the water, then why not share your experience and love of the sea with your Mates. You are probably already on the water doing your thing so why not take some Mates with you! You will be able to list your days and hours and meet paying mates to come out with you.
- Deliver supplies to houseboats etc
I spent over 25 years boating at Eildon and see hundreds of House boats parked around the lake. I have had friends hire house boats that don’t own a boat etc. I have taken them on cruises around the lake and have taken their kids water skiing. Why not offer your services to house boat owners and renters? You could deliver supplies like ice, food and pretty much anything they need. You could also take passengers to the local eateries around the lake (Uber of the Water) or take them fishing! The market for this type of services is massive and has not been tapped into until now. With MatesBoat™ you will be able to have real time bookings through the platform.
- Take people to restaurants from their camp sites, houseboats, water side properties
Delivering supplies to campers, houseboats and other waterside properties is a huge market. Taking these people to local restaurants or other local business will be a massive incentive for these local businesses to get involved and start using your services!
- Take people out for water sport activities
This is an obvious way to make some extra income with your boat. As mentioned above there are lots of people that are around the lakes, rivers and bays that hire ‘AirBnB’ Houses, House Boats or are camping that would like to take their family out for a fun day on the water. An ‘AirBnB’ owner recently told me that they have holiday makers regularly ask them if they have a boat they can use, where can they hire a boat or is there someone that could take their family out on the water. What a great way to earn some income and solve this problem!
- Take people diving
I have to admit I hadn’t put much thought into this until one of the MatesBoat™ community mentioned not to overlook this area. He loves his diving but doesn’t want to go out on the full dive charter boats. He wants to be able to find people heading out on a particular day and jump on with them. If you are already going out diving why not find some paying mates and take them with you! It is just another great way of earning some extra income to cover the cost of your boat ownership.
Join the mates boat community now and register your interest. To undertake the services mentioned above you will need to comply with the Australian Maritime Safety Authority Requirements. ‘BareBoat’ rentals require a minimum of a Domestic Commercial Vessel registration using Ex02 – Non Survey Vessel. For charter services you will need at a minimum the Ex02 – Non-Survey Vessel registration and at minimum the Coxswain NC 3 qualification. (Formerly Ex38)
MatesBoat™ can help you with registration and obtaining your coxswain certificate. Just register your interest here ‘Become a Master’.
