The boat rental market is having a moment.
While vacations on yachts are gaining popularity as travelers crave shareable luxury experiences, there’s a deeper business opportunity behind those Instagram-worthy sunset shots. So if you love luxury experiences (while also looking for ways to reduce the luxury price tag) — and we’re talking true luxury here — owning the boat just may be a more compelling investment in the long run.
Now I know what you’re probably thinking: owning a boat? In this economy?! I feel you, sis. But according to Boatsetter’s internal analysis, the math is mathing, and it just might make sense overall. For example, a $14,500 bowrider rented for $340 per four-hour session can pay for itself in just 21 days. Compare that to a $725,000 Seattle condo listed on Airbnb at $262 per day, which requires 2,767 days to break even, or a $115,000 RV listed on Outdoorsy at $275 daily with a 418-day payback period.
So who says treating yourself doesn’t have an ROI? Or in this case, a Return on Asset.
These days, more entrepreneurs are starting to see luxury not just as a splurge, but as strategy. The boat rental industry, valued at $21.39 billion in 2025 and projected to reach $31.97 billion by 2033, has actually become a legitimate wealth-building strategy.
But what many don’t know is that Boatsetter has been at the center of this transformation since 2014. Originally founded by Andrew Sturner and later merged with Jaclyn Baumgarten’s company Cruzin in 2015, the platform recently secured $38 million in Series B funding. Baumgarten’s vision of making water experiences “more affordable and accessible to everyone, everywhere” has created an ecosystem where boat ownership can be financially strategic rather than purely recreational (though, if you’re like me, you also love the recreational side of things too!).
The cultural shift driving this trend is undeniable. Current market data shows 26% millennial users driving demand, and millennials love boat sharing because it’s affordable, makes travel easy, and the platform is user-friendly. Not to mention, it became one of the few forms of enjoyment that many of us were able to experience in the midst of a global pandemic. So before you knew it, every time you scrolled on social media, you were seeing people live their best lives cruising (and social distancing) as a form of socializing and enjoyment. Now, the social media inspiration has evolved into a serious business opportunity, with Instagram and TikTok perfectly showcasing the photogenic appeal of sunset cruises and marine life encounters.
The tax advantages are especially what make the investment case more compelling because business owners who use boats for legitimate business purposes can deduct depreciation over seven years, maintenance expenses, fuel costs, equipment purchases, and docking fees. That nighttime happy hour on the water with friends? Yep, that can be expensed. That new speaker system you bought for the boat? That too. The return of 100% bonus depreciation for 2025 means qualifying business owners can potentially write off the full purchase price in the first year. So this also means, spend, but spend wisely.
However, the IRS requires genuine business use with detailed documentation, so make sure that if you’re partying or socializing on the boat, it’s also a form of “networking.” Travel and entertainment deductions are limited to 50% of costs, and successful boat-owning entrepreneurs maintain logs of client meetings, team building events, and networking activities conducted on their vessels.
Even still, years later, post-pandemic travelers (are we really post-pandemic?) want unique experiences that offer both luxury and control over their environment. Private boat charters deliver exactly that: exclusive access to premium experiences with complete autonomy over guest lists and activities. There’s growing demand for luxury rentals as corporate event space, increasingly popular for weddings, conferences, and exclusive social gatherings, so if there ever were a time to get in where you fit in, it would be now.
But just make sure you choose a location that makes sense, because this remains critical for rental success. Boats in high-demand waterfront areas like Miami, the Hamptons, or Lake Tahoe command premium rates and maintain consistent bookings, which makes sense for obvious reasons. Though you may love spending your summers on lakes in Idaho, the same vessel that might struggle in a secondary market could generate substantial returns in a prime location with steady tourist traffic.
The biggest tip you need to know before you embark on this journey is that you need to treat boat ownership as a business, not a hobby. Successful operators invest in regular maintenance, comprehensive insurance, professional cleaning between rentals, and often management services. These costs might eat into profits a bit, but they’re non-negotiable if you want repeat bookings and five-star reviews.
Whether individual owners can capitalize on these opportunities depends on their specific circumstances and business approach, but the industry trends and financial data make a compelling case for serious consideration. So if you’ve been eyeing a boat for business (or even personal reasons), there’s one final thing you need to know to move forward: please make sure I’m invited out on the water for some fun in the sun!