Should I buy an existing boat rental business or start one?

Many people who like the water think about renting boats. The question is which route gets you a working season with less risk. Neither is always better. The answer depends on whether you can find a good place to keep the boats, how much you can invest and how much time you have before the first summer. This page sets out what each route involves.

What an existing operator brings

A running business comes with a place on the water, a history of bookings, online reviews and people who know how to run the counter and the boats. Repeat renters and local referrals take years to build. You also see how a real season goes, including the weather and the problems. Against that, you inherit the age of the fleet and any weak habits in the records.

What starting means

A new operation lets you choose the boats, the layout and the systems. You carry no old repairs. But you must find dock or launch space from a landlord who has no reason to trust you yet, then build bookings and reviews from nothing. A first season may be slow, and the fleet still has to be bought, stored and insured before any money comes in.

Questions to settle your choice

• Can you secure dock space in writing, whichever route you take?
• How much of a season can you afford to run at a slow pace?
• Do you want the fleet as it is, or to choose your own boats?
• Who will run the counter and the boats while you learn?

For a similar decision in another seasonal rental, see whether to buy an existing equipment rental business or start one. A lender can tell you how it views each route.