Book My Boat are changing the way we go about boating in Australia. Using the principles of the share economy, and recent changes to the commercial vessel survey requirements, Book My Boat provides a means for boat owners to offset their costs of boat ownership by generating an income through fully insured boat hire.
The share economy model also helps those who don’t own a boat by providing unprecedented access to the boating lifestyle. We caught up with the Managing Director, Matthew Lloyd at the Sanctuary Cove Boat Show and discussed accessible boating.
Q. Affordable and accessible boating tell us more?
Historically, that’s a phrase that has never been associated within the boating industry. We recognized these barriers to entry coupled with the under-utilization of boats in general, so we created a marketplace that addresses both concerns.
We provide boat owners a means of generating an income from their boat through fully insured hire. We also provide a means for people to get out on the water to enjoy what Australia has to offer if they don’t own a boat, or if they simply want to hire a different boat to the one they own.
Access to boating in Australia has never been more difficult. Gone are the days of the quarter acre block with a boat on the front lawn or you can safely leave your boat on the street without fear of vandalism, theft or annoying your neighbors. Add to this the costs of a marina berth or boat dry stack facility and we find boating is simply unattainable or out of reach for the majority of people in Australia.
Q. Generating an income from your under-utilised boat sounds like a great idea. Can anyone do this?
Yes, over 96% of registered boats in Australia are suitable for boat hire. Our target market is boats under 12m in length. Boats under 8m are the most popular boats to hire as they represent a great opportunity and versatility for a day on the water with family and friends without being too hard to handle.
In 2018 the national regulator AMSA created survey exemptions for inshore, day time boat hire operations.
A majority of boats under 12m that operate in smooth or partially smooth waters excluding boats with inboard petrol engines are now exempted from the traditional survey process. Upon application, boat owners are provided with a Certificate of Non Survey which allows them to use their boat for hire purposes. We assist boat owners through the application process. This process typically takes about 2 weeks to be completed meaning people can turn their boat into a income generator in a fortnights time. For more information https://www. bookmyboat.com.au/boat-owner/
Looking around the marinas today, there is certainly no shortage of expensive under-utilized boats.
On average, Aussies use their boat just 28 days of the year. That represents a whopping 92% under-utilisation rate. We’ve calculated that there is over 300 million idle boating days each year in Australia. This is a stat that we hope to change in the future as we get more people out on the water
Q. Are you looking for more boats on the Gold Coast and what is the rental demand like?
We are looking to expand our fleet between the Gold Coast and Sunshine Coast. We currently have a higher rental demand than our existing fleet can handle, particularly around Cleveland, Redland Bay and the Wynnum area.
Interested boat owners should check out our marketplace at www.bookmyboat.com.au or give us a call to discuss their boat’s suitability.
Published in print July-September 2022
