Has anyone considered or is anyone restoring sailboats for a living? I recently bought a 25' sailboat from a charity auction for pennies. I spent a year restoring her, refurbishing the hull, replacing missing or damaged parts and restoring her interior. Just before launching, I swore I would never restore a boat again but once I launched her for the first time, I feel ready to restore another boat but bigger. She sails well, looks great and has a bilge that's bone dry. I'm wondering if this type of business would be profitable. Any comments appreciated.
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Restoration for money
This is a great way to make money as long as you value your time at way less than minimum wage. Old boats have depreciated much in value. To spend hundreds of hours to bring a delapidated boat back up to this "low" value is a labor of love, not money. Sorry for the bad news
This is a great way to make money as long as you value your time at way less than minimum wage. Old boats have depreciated much in value. To spend hundreds of hours to bring a delapidated boat back up to this "low" value is a labor of love, not money. Sorry for the bad news
Tried It Once
I bought a Gulf Coast 21 for $1500. I spent about another $1500 and sold it for $2400. I enjoyed it, but it is doubtful you can make money at it, at least for the smaller less expensive boats. I payed $1500 for my MAC 23. I spent about $2000 fixing it up. I estimate that it may be worth $2500. I paid $500 for my American Fiberglass D-18. I spent about $300 fixing it up. I think it might be worth $1000.
I bought a Gulf Coast 21 for $1500. I spent about another $1500 and sold it for $2400. I enjoyed it, but it is doubtful you can make money at it, at least for the smaller less expensive boats. I payed $1500 for my MAC 23. I spent about $2000 fixing it up. I estimate that it may be worth $2500. I paid $500 for my American Fiberglass D-18. I spent about $300 fixing it up. I think it might be worth $1000.
side business
picked up a 22' venture for 1200.00 one time. maybe put a hundred into it, enjoyed sailing it for a year and sold it to a windsurfer I ran into at the ramp for 2500.00. From this experience, and like you did, the trick is finding a real good deal (like really low bucks) then know just how much restoration you want to give it and still make a respectable profit, one could do this as agood hobby, or part time. Also look at the perk of sailing the boat for a while until tou want to sell it. Also, look to buy in the fall and winter and sell spring and summer as you may find the better deals boyh ways then. 2 cents
picked up a 22' venture for 1200.00 one time. maybe put a hundred into it, enjoyed sailing it for a year and sold it to a windsurfer I ran into at the ramp for 2500.00. From this experience, and like you did, the trick is finding a real good deal (like really low bucks) then know just how much restoration you want to give it and still make a respectable profit, one could do this as agood hobby, or part time. Also look at the perk of sailing the boat for a while until tou want to sell it. Also, look to buy in the fall and winter and sell spring and summer as you may find the better deals boyh ways then. 2 cents
It depends on the size of the boat...
It's rarely profitable to restore small boats. However, restoring 30'+ boats can be. I paid $25k for my last boat--an 18 yr old 32' "floating bag lady" that was sound, but in unihabitable and non-running condition. Put another $20k into replacing just about everything on her...3 years later had a 1-3 yr old boat in a 21 yr old hull ...sold her for $48k. Not much of a profit, but I had the use of it for 3 years, the pleasure of "creating" the boat I wanted, with everything on it that I wanted...and didn't really have to spend a lot more time working on her than maintaining a newer boat requires. Comparable new to the "end result," btw: $175k-$200K. What I paid for the boat was about what the down payment would have been for a new one. And when you don't have to make payments, you can pay someone else to do a lot of the work on an older boat instead of doing it yourself.
It's rarely profitable to restore small boats. However, restoring 30'+ boats can be. I paid $25k for my last boat--an 18 yr old 32' "floating bag lady" that was sound, but in unihabitable and non-running condition. Put another $20k into replacing just about everything on her...3 years later had a 1-3 yr old boat in a 21 yr old hull ...sold her for $48k. Not much of a profit, but I had the use of it for 3 years, the pleasure of "creating" the boat I wanted, with everything on it that I wanted...and didn't really have to spend a lot more time working on her than maintaining a newer boat requires. Comparable new to the "end result," btw: $175k-$200K. What I paid for the boat was about what the down payment would have been for a new one. And when you don't have to make payments, you can pay someone else to do a lot of the work on an older boat instead of doing it yourself.
Check out this site
Here's a guy that restored an old Pearson Triton, then decided to try renovations as a side business. Check out the Daysailer project; the goal to modify a Triton into a modern daysailer. The motivation for the Daysailer project seems to be to make money. This guy also built a boat shed in his backyard in order to facilitate the business. Is he making money? I doubt it, but it sure looks like fun.
Here's a guy that restored an old Pearson Triton, then decided to try renovations as a side business. Check out the Daysailer project; the goal to modify a Triton into a modern daysailer. The motivation for the Daysailer project seems to be to make money. This guy also built a boat shed in his backyard in order to facilitate the business. Is he making money? I doubt it, but it sure looks like fun.
Boat Biz
This question reminds me of an old saying about the aviation business..... How do you make a million buck flying? First you start out with 10 million.....
This question reminds me of an old saying about the aviation business..... How do you make a million buck flying? First you start out with 10 million.....
You can do it.......
Neknus, you can make a big profit and income if you do it wisely and right. In June and July so far I've made roughly 10K flippin boats, and will triple that by the end of the summer. I have five boats on hand that I am messing with, I will double my cost and labor on all of them by late August for sure, easily. Easy fun and major income.....in my spare time. You can do it if you figure out a plan and discover what the buyers really want. It took me a while to do that, but now it's paying off. You can do it too! Have fun, figure it out, and enjoy the income. NO BS here.....trust me. Jim Jim
Neknus, you can make a big profit and income if you do it wisely and right. In June and July so far I've made roughly 10K flippin boats, and will triple that by the end of the summer. I have five boats on hand that I am messing with, I will double my cost and labor on all of them by late August for sure, easily. Easy fun and major income.....in my spare time. You can do it if you figure out a plan and discover what the buyers really want. It took me a while to do that, but now it's paying off. You can do it too! Have fun, figure it out, and enjoy the income. NO BS here.....trust me. Jim Jim
Boat Restoration
Chuck, You seem to have borrowed that concept from architects. "How do you lose $500,000? Give it to an architect to design a building." "Nuff said, nothing personal, besides, where would we all be if it wasn't for architects designing our places to live? *yks Stu
Chuck, You seem to have borrowed that concept from architects. "How do you lose $500,000? Give it to an architect to design a building." "Nuff said, nothing personal, besides, where would we all be if it wasn't for architects designing our places to live? *yks Stu
Location, Location, Location
Looking at the replies, it appears that you have to have a good source of boats and a market. Although the Arkansas Democrat Gazette, Little Rock, usually has a half dozen or so sailboats for sail, on an average they are hundred miles or more away. Likewise, not many people are going to drive a hundred miles or so to look at a sailboat which I have restored.
Looking at the replies, it appears that you have to have a good source of boats and a market. Although the Arkansas Democrat Gazette, Little Rock, usually has a half dozen or so sailboats for sail, on an average they are hundred miles or more away. Likewise, not many people are going to drive a hundred miles or so to look at a sailboat which I have restored.
Are you really on Bull Shoals?
My very first and only sailing experience is on Norfork Lake, unfortunatly with my ex. We had a 22' Sun-(coast?). I really enjoyed the little time I spent sailing there. Now (Thank God) I'm in central FL. My new husband and I just bought a Mac 25 which we are fixing up. Love to chat with you email at suitebee@yahoo.com. Hope ya'all get some rain soon! Not for sailing, of course, just for relief, Mom said it's been Hot there. B
My very first and only sailing experience is on Norfork Lake, unfortunatly with my ex. We had a 22' Sun-(coast?). I really enjoyed the little time I spent sailing there. Now (Thank God) I'm in central FL. My new husband and I just bought a Mac 25 which we are fixing up. Love to chat with you email at suitebee@yahoo.com. Hope ya'all get some rain soon! Not for sailing, of course, just for relief, Mom said it's been Hot there. B
Traveling Shipwright
Rather that restoration, I suggest you become a traveling shipwright-and occasion take home some major work. YOu could pick up jobs a Greers Ferry, Bull Shoals, Ouachita, Beaver, and Table Rock to name a few. Road Riggers, LLC
Rather that restoration, I suggest you become a traveling shipwright-and occasion take home some major work. YOu could pick up jobs a Greers Ferry, Bull Shoals, Ouachita, Beaver, and Table Rock to name a few. Road Riggers, LLC
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