Business Idea

Start A Wooden Boat Repair Business

About

Starting a wooden boat repair business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell wooden boat, or selling wooden boat online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$29B
starting costs
$22.5K
gross margin
90%
time to build
9 months

About

Starting a wooden boat repair business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell wooden boat, or selling wooden boat online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$29B
starting costs
$22.5K

 

gross margin
90%
time to build
9 months

Startup Costs

Min Startup Costs Max Startup Costs
Employee & Freelancer Expenses $151 $252
Equipment & Supply Expenses $500 $5,000
Website Costs $303 $7,015
Business Formation Fees $600 $4,700
Vehicle Expenses $0 $10,000
Retail Business Expenses $1,250 $6,650
Advertising & Marketing Costs $75 $3,986
Software Expenses $162 $2,720
Other Expenses $0 $800
Office Space Expenses $50 $100
Specific Industry Expenses $0 $500

Successful Businesses

Business URL Rank
WoodenBoat Magazine woodenboat.com #99,292
Decks & Docks decks-docks.com #660,521
WEST SYSTEM westsystem.com #782,976
Munson Boats / Welded Aluminum Workboats munsonboats.com #897,741
Boat Builder Central boatbuildercentral.com #1,030,085
The WoodenBoat Store woodenboatstore.com #1,175,016
Boat Alert History Reports boat-alert.com #1,424,568
Calgary Fasteners & Tools ltd. calfast.com #1,620,938
Replacement Boat Parts replacementboatparts.com #1,668,150
Professional BoatBuilder Magazine proboat.com #1,724,362
DIY Wood Boat diy-wood-boat.com #1,760,643

Pros & Cons

Pros Description
Little startup costs required The cost to start a wooden boat repair business costs significantly less money than most businesses, ranging anywhere from 3,091 to 41,723.
Rewarding work Starting a wooden boat repair business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
Pick & choose the clients you work with Wooden Boat Repair Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!
Control of workload With starting a wooden boat repair business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.
Gain exposure and experience This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!
Cons Description
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Longer Sales Process A wooden boat repair business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Work can be inconsistent As a wooden boat repair business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
Lack of benefits With a wooden boat repair business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Taxes As a wooden boat repair business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
No safety net Typically, as a wooden boat repair business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.