Starting a business revolved around yachts is definitely on the rise. The global yacht charter market was valued at $15.20 billion in 2018, and is projected to reach $25.16 billion by 2026, registering a CAGR of 6.3% from 2019 to 2026. The growth of the yacht charter market is driven by an increase in the number of private islands on cruise itineraries, use of alternative sources of energy & improvised purchasing power across the globe, and increase in the number of high net worth individuals. Furthermore, increase in demand for leisure activities is due to a rise in disposable income and hectic lifestyles.

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Well, everyone out there cannot afford to buy a yacht ; that’s why there are  rental companies flourishing as they cater to the demands of customers. You can start a p2p yacht rental business of your own if you plan and chalk out following things :-

  • Brainstorming & Market Study – Get answers to questions such as which is the best place to start with?, where is the target audience you are looking forward to?, what are already established players in the market doing?, is there something different you can come up with w.r.t price or value offering?, and many more such questions to have clarity on next steps.
  • Plan & build up your inventory –  Based on how much investment you are ready to make, you need to decide the type of yachts you will rent so that you can purchase them at the right point of time. Rent, build or buy any business dock space to store your rental which shall serve as a one-stop location for customers
  • Regulations are a must – One needs to understand the rules & regulations of the business right at the start to avoid any complications in the later stage
  • Communication is the key –  Once you are ready with your offerings, you need to get people to know about them. 
  • Keep a track – Once the rental business is live with customers flowing  in, you need to ensure that customers come to you frequently and not just once. So, stay ahead of competitors and ensure that you provide what you promise.
Four easy steps to launch rental marketplace

Solution To Start Online Yacht Rental Marketplace

If you are planning to start an online yacht rental marketplace incorporating some unique ideas, choose Yo!Rent. Yo!Rent makes your business stand out of the crowd as it is packed with useful features such as multi-vendor functionality, social media integration, content management system, smart review management, mobile ready platform and real-time stock availability. Discover our website yo-rent.com to know more about what you need to launch an adventure gear rental marketplace.

Also, you can check out our post : How to Start an Online Boat rental Business in Europe & North America?