As the pandemic begins to ease up across the world, this might present a perfect opportunity to start your watersport business, and in this episode, we’ll cover a few compelling reasons why now is the right time.
Hey everyone, thanks for dropping in for episode 12 of the Weekly Wave presented by WaveRez. I’m your host Greg Fisher, and today we’ll be talking about why you should be starting a watersport business today. As the pandemic begins to ease up across the world, this might be the perfect time to start your business, and we’ll cover a few compelling reasons why now is the right time.
When the state of Florida began to open up in May of 2020, there was a surge of travelers coming to the Sunshine state to enjoy sand and sun. Not only was there an appetite for warm destinations, but outdoor recreation was a popular choice for travelers. Watersport operators across the entire state saw record volume throughout the Summer and Fall, and this demand hasn’t stopped. So why are travelers choosing outdoor destinations?
There isn’t any official data yet to explain why travelers want to be outside, but one reason might be that watersport activities can be done privately, which decreases the risk of covid infection. This includes renting a boat, kayak, or jet ski. On TripShock.com, it was reported that multi passenger boat tours saw roughly 50% less capacity compared to private or small group rentals seeing record levels in 2020. We’ve also seen millions of people across the country stuck inside their homes for several months, which leads us to believe they want to be outdoors more than ever.
There is only anecdotal evidence that travelers will continue this trend of seeking private experiences, but if the world is entering into a new era of cleanliness and social distancing, then it could be the future of travel. Even if it’s not, and society goes back to pre-pandemic behaviors, watersport businesses will continue to thrive as coastal destinations continue to be a popular destination for families.
Another reason why you should start a business today is because interest rates are at all-time low. If you’re looking to borrow money, now is the time to do it. And if that’s not a good enough reason, added stimulus payments and generous SBA loans have helped small business owners grow even faster. Contact your local bank for more information, or visit SBA.gov to understand your options.
Even though it might be a great time to start your business, don’t skip any important steps, and be sure to have insurance and proper equipment prior to opening. Due to the increased demand in watersports equipment, you might have to find used equipment until the supply chain has improved. Good luck with opening your watersport business, and keep listening for helpful hints on all things watersports.
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