Do you want to know how much Kayak rental businesses make monthly? If YES, here is a quick analysis detailing the income potential of Kayak rental companies.
A kayak is a small, narrow watercraft which is typically propelled by means of a double-bladed paddle. The traditional kayak has a covered deck and one or more cockpits, each seating one paddler. It is considered to be a sports equipment by many, as the major use of this particular boat is generally in sports and aquatic races.
But today, kayaks are used mainly for recreation. Most people, instead of lounging at a beach during their holidays opt to get active by renting kayaks and taking them out to the water.
A lot of entrepreneurs are seeing kayak rentals as a viable business, and as such it is not so difficult to locate such businesses. To be a successful kayak rental business owner, you’ll be responsible for planning fun and challenging kayak tour routes; planning transportation to and from the water; teaching basic, intermediate and advanced kayaking techniques; and managing employees.
But the question still remains, is kayak rental actually worth the stress and money it takes to set up the business? A lot of would-be entrepreneurs are worried about this and would love to know how much they stand to earn monthly or annually from the business. Here is a rough estimate.
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Expenses Incurred When Setting Up a Kayak Rental Business
Setting up a kayak business and running it does not take much, though you have to note that kayaks on their own are an expensive bunch. You’ll need to have some sort of property or store where you get to store your kayaks and where people can come to rent them. You could rent a small area from a local business and put up a portable shed to keep it cheap. Because you need only a small space, the rent can be cheap, maybe around $300 a month.
- In order to rent out some kayaks, it might be a good idea to own some. To get started, let’s say that you bought 5 kayaks at $400 a piece. The total expenses would be $2,000.
- Along with these, you’ll need some life jackets – a random set of 10 will cost you $200.
- Also, if you want to make your business 100% passive, you’ll have to pay an employee. It’ll cost you $8 an hour, 7 days a week, for 8 hours a day. For the 6 months, this will cost you $11,648.
How Much Money your Kayak Rental Business Can Make Monthly
While running your business, you are supposed to make profits. And to earn profits, you have to rent out your kayaks. You should have signs that direct people to your store. If you have good traffic, you can make good profits out of the business.
Here are the average rates you can earn from your kayak business:
Rentals can go for;
- $10 per hour
- $30 for half day (4 hours)
- $50 for a full day (8 hours)
You are obviously not going to be able to rent out all 5 kayaks all day, every day, so what’s a realistic expectation? For the span of 6 months, let’s say that, on average, you rent out 2 kayaks for a half day. That’s a total of $60 a day. With the given scenario:
What are the Total Expenses?
- $2,000 for the kayaks
- $200 for the life-jackets
- $300 rent for 6 months = $1,800
- Employee = $11,648
Total 1st Year Expense = $15,648
What is your Estimated Income?
- $60/ day for 180 days = $10,800
- $10,800 = 6 months
- $10,800 x 2 = $21,600 is what you stand to gain yearly
How to Make your Kayak Rental Business Profitable
A sure-fire way to make this business profitable is for you to do most of the work yourself. By sitting at your shed and renting out the kayaks by yourself, you would save $11,648. By so doing, you will earn yourself a profit of $6,800, rather than running your business into a deficit.