Dec 21, 2023

How to build a marketplace for renting yachts

Creating an online platform for renting yachts presents a promising business opportunity. If you are contemplating building such a website, this guide is for you as it explores why and how you should build a marketplace for renting yachts.

What is a marketplace for renting yachts?

Online marketplaces for renting yachts provide a platform where yacht owners can list their vessels for rent and potential renters can browse and book them. These platforms typically offer a wide range of yachts, from small boats to luxurious mega yachts, catering to different budgets and preferences. Users can search for yachts based on location, size, amenities, and availability. The marketplaces often include detailed descriptions, photos, and reviews to help renters make informed decisions. They also facilitate secure payment transactions and may offer additional services such as yacht insurance and customer support.

Why build a website for renting yachts?

What are the benefits for buyers?

Buyers on the marketplace for renting yachts can enjoy a wide selection of yachts available for rent, allowing them to find the perfect vessel for their needs and preferences. They can easily compare prices, features, and reviews of different yachts, ensuring they make an informed decision. Additionally, the marketplace provides a convenient and secure platform for booking and payment, offering a seamless experience for buyers.

What are the benefits for sellers?

Sellers on the marketplace for renting yachts can reach a larger audience of potential customers, increasing their chances of securing bookings and generating revenue. They can showcase their yachts with detailed descriptions, high-quality images, and customer reviews, building trust and credibility among buyers. The marketplace also handles the administrative tasks such as booking management and payment processing, saving sellers time and effort.

What are the benefits for the marketplace owner?

The marketplace owner benefits from the commission or fees charged on each transaction, generating revenue from the rental activities. As the platform attracts both buyers and sellers, it creates a network effect, increasing the value and attractiveness of the marketplace. By providing a reliable and user-friendly platform, the marketplace owner can build a strong reputation and establish the platform as a go-to destination for renting yachts.

Successful marketplaces for renting yachts

Here are a few thriving online platforms exclusively focused on yacht rentals. Analyzing these platforms can provide valuable insights into the market and assist you in finding your own path within the industry.

  1. Boatsetter: Boatsetter is a popular online marketplace for renting yachts and boats. It connects boat owners with renters, offering a wide range of options for yacht rentals worldwide.

  2. Click&Boat: Click&Boat is another well-known platform that allows users to rent yachts and boats. It offers a variety of options, from luxury yachts to smaller boats, and operates in multiple countries.

  3. GetMyBoat: GetMyBoat is a global marketplace for boat rentals, including yachts. It provides a platform for boat owners to list their vessels and for renters to find and book their desired yacht rental.

  4. YachtCharterFleet: YachtCharterFleet is a platform that specializes in luxury yacht charters. It offers a curated selection of high-end yachts available for rent in various destinations around the world.

  5. Sailo: Sailo is an online marketplace that connects boat owners with renters, including yacht rentals. It offers a wide range of boats and yachts for rent, allowing users to find and book their ideal vessel for a memorable experience on the water.

What features does a platform for renting yachts need?

The most important functionality of a marketplace for renting yachts would be the ability to connect yacht owners or charter companies with potential renters. This includes features such as:

  1. Search and filter options: Users should be able to search for yachts based on their preferred location, size, amenities, and price range. The marketplace should provide advanced filtering options to help users find the perfect yacht for their needs.

  2. Detailed yacht listings: Each yacht listing should include comprehensive information about the yacht, including its specifications, amenities, availability, rental rates, and any additional services offered. High-quality photos and videos should also be included to give users a clear idea of what to expect.

  3. Booking and reservation system: The marketplace should have a secure and user-friendly booking system that allows users to check the availability of yachts, select their desired dates, and make reservations. It should also provide real-time updates on the availability status of yachts.

  4. Reviews and ratings: Users should be able to leave reviews and ratings for yachts they have rented in the past. This helps build trust and allows potential renters to make informed decisions based on the experiences of others.

  5. Communication and messaging: The marketplace should facilitate communication between yacht owners and renters. This can be through a messaging system that allows users to ask questions, negotiate rental terms, and discuss any specific requirements.

  6. Payment processing: The marketplace should provide a secure and reliable payment processing system that allows users to make payments for yacht rentals. It should support multiple payment methods and ensure the protection of sensitive financial information.

  7. Insurance and legal documentation: The marketplace should ensure that all necessary legal documentation, such as rental agreements and insurance policies, are in place. This helps protect both yacht owners and renters and ensures a smooth rental experience.

  8. Customer support: A marketplace for renting yachts should have a responsive customer support team that can assist users with any queries, issues, or disputes that may arise during the rental process.

Overall, the most important functionality of a marketplace for renting yachts is to provide a seamless and secure platform that connects yacht owners with potential renters, while offering a range of features and services to enhance the rental experience.

What are the options & costs of building a marketplace for renting yachts?

Costs of building from scratch

Building a marketplace for renting yachts from scratch can involve various costs. These costs can include:

  1. Development Costs: Hiring a team of skilled developers to design and develop the marketplace platform, including the website or mobile application, backend infrastructure, and database management. The cost of development can vary depending on the complexity of the platform and the hourly rates of the developers.

  2. Design Costs: Engaging professional designers to create an appealing and user-friendly interface for the marketplace. This includes designing the website layout, logo, branding elements, and any other visual components. The cost of design services can vary based on the expertise and reputation of the designers.

  3. Infrastructure Costs: Setting up and maintaining the necessary infrastructure to support the marketplace, such as servers, hosting, and cloud storage. The cost of infrastructure can depend on factors like the expected traffic volume, scalability requirements, and the chosen hosting provider.

  4. Payment Gateway Costs: Integrating a secure and reliable payment gateway to facilitate transactions between yacht owners and renters. Payment gateway providers often charge transaction fees or a percentage of each transaction, which can impact the overall costs.

  5. Marketing and Promotion Costs: Promoting the marketplace to attract yacht owners and renters. This can involve various marketing strategies, such as online advertising, search engine optimization, social media marketing, and content creation. The marketing costs can vary depending on the chosen channels and the extent of the promotional activities.

It is important to note that the actual costs of building a marketplace for renting yachts from scratch can vary significantly based on individual requirements, customization needs, and the specific features and functionalities desired. Therefore, it is advisable to consult with experienced professionals and obtain detailed cost estimates before embarking on such a project.

Alternative options for constructing a marketplace for leasing sailboats

Developing an online marketplace for leasing sailboats from scratch is a substantial, costly endeavor. However, nowadays, there are numerous different methods to construct a marketplace that don't necessitate a massive budget.

The option you should select depends on:

  • The features you believe your marketplace requires
  • Your technical abilities (or abilities you possess in your team)
  • Your budget
  • The available time.

The various methods to construct a marketplace are:

  • Utilizing WordPress and plugins
  • Constructing on top of open-source software
  • Utilizing a combination of no-code tools
  • Utilizing a dedicated no-code marketplace SaaS tool
  • Developing on top of an API-based marketplace SaaS tool

In addition to your constraints in terms of abilities and budget, you should also consider the speed of learning. Launching your platform for leasing sailboats quickly means you begin to learn about your audience rapidly. These learnings assist you in developing the type of platform that users adore more than any other existing solution.

Sharetribe's marketplace software is developed with this iterative learning process in mind.

First, we assist you in launching a platform for leasing sailboats in one day without any coding. Use the two-week long free trial of Sharetribe's Build plan to get your marketplace ready fast. When you're happy with your marketplace, you can subscribe to go live.

After you've launched, you get to learn what kinds of additional features and functionality your platform needs to serve your audience. You may want to completely change the design and workflow, integrate a multitude of third-party services, or construct a mobile app. With Sharetribe, you can easily custom-code all these changes and much more, either by yourself or with assistance from our Expert partners.

At Sharetribe, we've been constructing marketplaces for over a decade. Our experience and expertise are at your disposal through our content resources, which you can access and use regardless of how you decide to construct your platform.

Best of luck with your website for leasing sailboats!

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