Houseboat Magazine

March/April 2019

Issue link:

Contents of this Issue


Page 29 of 39

30 March | April 2019 // Features tune with boating trends that he has been able to maintain a healthy business of his own. After all, there are many people who dream of making their boats a business, but few who actually make it happen. "Many of the folks I've met over the past 40 years have remarked on how much fun it would be to have a business reason to own and operate a boat," Alex explained. "By thinking through the 'who, what, when, why, and how' aspects of using a boat in a business, you will be better versed in having strategic discussions with your tax advisor and legal counsel. From an IRS perspective, it is essen- tial that you have the plan before placing a vessel into the business." Whether this is your first time considering starting a business or if you are a seasoned veteran, it is always good to review the advice of those like Rooker who have the experience to back up their advice. There's no time like the present to get started on making your grand idea a reality. Just make sure to flesh out your ideas before you commit and don't forget to check out Rooker's book to get a more in-depth understanding of using your boat as a business. Your Boat as a Business Your Boat as a Business includes these topics and questions for thought as you begin to plan your business: Define Your Market by asking: *What waterway will you operate on? *Where will the boat be stored? *Where will passengers board the boat? *What type of vessel is to be used? *What activity will engage the passengers? *Riding and looking, *Fishing, *Swimming / snorkeling / diving, *Vessel training and operation, *Tours with points of interest and history, or *Overnight lodging? *How will you handle trip-canceling inclement weather? *Rain check, or *Refund Define Your Niche by asking: *What companies are already on location providing the same type boat and services you plan? *What aspects of your Vessel makes your offering positively stand out? *What aspects of your Trip Venue add value vs. the competition? *When does the boating season end at your location? *What means are easily, and affordably, available to extend your seasonal revenue stream beyond that of the competition? --------------------------- Alex Rooker's Business Yacht A Fun Alex Rooker's Books Your Boat as a Business Zoey's Big Boat Trip

Articles in this issue

Links on this page

Archives of this issue

view archives of Houseboat Magazine - March/April 2019