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Insights for Entrepreneurs

Yacht Rental App Development: A Transformation of the Yacht Rental Business Online

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Glory Simmons

Insights for Entrepreneurs · 18 min read

yacht boat rental app development

18 min read

Good to know that you have decided to invest in Yacht rental app development to leverage your yacht renting business. Yacht rental apps have indeed become popular in the app development market just like any other booking app like Uber.

This is mainly because people started spending more time in adventure and recreational sports as they find it the best option to release their stress. Marine tourism is gaining more attention and people love to rent a yacht and have fun-thrilled experience in marine driving.

Going for a Yacht rental app development is very crucial right now. We will guide you more through yacht rental app development, its benefits, features, monetizing strategies, and finally its cost in this article for your better understanding.

Why is investing in yacht rental app development worth it?

To start with, we need to first get to know what the market demand is for yacht rental apps. This will help us to take a firm decision on building the same. We have come out with a few fascinating statistics about the yacht rental business and market expectations.

  • The yacht rental market is expected to reach $30 billion by the end of 2030 which was $15 billion in 2018.
  • The potential of yacht rental services is high in Asia-Pacific regions.
  • North America is showing its highest growth rate with a CAGR of 7% over 2018-2022.
  • In 2021, India has planned to develop around 78 marine tourism landmarks to enhance marine tourism revenue.
  • The luxury yacht segment holds the largest market share in 2022 with 38.12%.
  • These cool stats are more than enough to show that the yacht rental business has a promising future. You can start building your yacht rental business without hesitation and fear about returns.

Benefits of yacht rental app development

You may wonder, why do we need to build a yacht rental app for the yacht rental business. Having an app for a business has become mandatory irrespective of the business type and size. Likewise having an app for your yacht rental business will get you more business benefits.

Easy booking

More than 60% of ticket bookings for yachts have been made through smartphones in the US. In the world of eCommerce, smartphones have a crucial role in revenue generation. People use their mobiles to shop, pay bills, and do many more tasks online. Likewise, yacht rental booking is nothing different. Users can easily book their yacht and can yacht rental businesses get more bookings.

Better connectivity

If you build a multi-vendor yacht rental app, you will be able to get connected with many more yacht renters. You can easily connect them with your app and users will get more options in choosing the yacht on your platform. You can better experience and simultaneously you can get commission from other yacht rental providers for getting orders through your app.

Simplified management

When you run a rental business, you need to be more cautious in delivering on-time services, and through should not be any hassle in delivering the service. This is possible only by going for Yacht rental app development. With an excellent yacht rental app, you can schedule all bookings and also avoid double bookings.

Errorless business operations

When more manual work is involved, you may tend to face more errors. Especially while booking, payment processing, invoice generating, inventory maintaining, and many more. When you go for a Yacht rental app development, you can be assured to have errorless business operations as each task will be carried through automation and manual errors are highly reduced and productivity will be increased.

Performance management

When your business grows, you may find it difficult to manage your entire business operations and you may not know how well your business is performing. With an efficient yacht rental app, you can get analytics and insights about your rental business. You can generate more reports on various metrics that will give a clear picture of your business performance and accordingly, you can make necessary changes in your management.

How does yacht rental app development work?

A yacht rental app will act as an intermediary between users and several yacht rental providers. They all get connected through the app and yacht rental service is offered to users. The business model of a yacht rental app is simple to understand.

The flow of yacht rental apps for customers

  • Users will first register with the app by providing their details.
  • They will start searching for a yacht to book by specifying their preferred location, budget, type, and many more.
  • The app will display the details of all yacht rental providers who meet the user’s requirements.
  • The user will go through all their profiles. They can compare yacht rental providers and will choose the one they find comfortable.
  • They can get connected with the yacht rental provider through the in-app chat feature. They can discuss and negotiate and finalize the trip.
  • Once the trip is finalized, the user can book the yacht on the available and preferred dates by paying on the platform.
  • The platform will accept the payment and confirms his booking by sending an email to the user.

The flow of yacht rental apps for yacht rental providers

  • The provider will register with the app by providing his details and submitting all necessary documents about the yacht he is providing for rental.
  • After proper authentication, the admin of the platform will accept the provider.
  • Once the provider is accepted, he will post his yacht for rental. He will give a clear description of the yacht, its type, model, and many more.
  • When a customer books a yacht, the provider will get information. He can accept or reject the booking.
  • If he confirms the booking, the payment process will be carried out by the platform.
  • The customer will use the yacht on the booked dates and will return to the provider.
  • The provider will look for any damages, if so, he will inform the platform and the admin will take the damage charges from the deposit amount made by the customer. Else the provider will get his amount after deducting his commission.
  • Customer will give their feedback through reviews and ratings which can be viewed by the provider as well as the admin.

Features to be integrated with Yacht rental app development

We have understood the workflow of the yacht rental app. Now we need to be more focused on the features we are going to integrate into our yacht rental app development process. These features will determine how user-friendly your app will be and how simplified your business operations can be.

yacht boat rental app development

Yacht rental app development – User Panel

Users are the key resource for your yacht rental business who will define your success. If their requirements are addressed properly and focused on their experience, you can easily get a hold of the market. Let us check out some cool features that will satisfy users’ needs.

Easy login – This is the first step users will get into. The login process should be simplified. The platform should let users have social media login which will instantly get them registered with the platform without the need for filling personal details.

Booking a yacht – The platform will display the types of yachts, and the purpose of booking like fishing, sailing, water sports, and many more. Users will filter their choice and will choose a yacht for booking.

Schedule booking – This will allow users to schedule their booking as the platform will be integrated with a calendar. Users can book in advance and can rent the yacht on time from the concerned yacht rental providers.

Manage bookings – Users should be able to manage their bookings with the platform. They could be able to cancel their bookings in advance and can ask for a refund. Users should be able to view all their previous bookings, confirmed bookings, and many more.

Book now – This will support users who enter the platform with some urgency when they will not get time to look into other features. All they would need is to book a yacht instantly.

Multiple payment options – The platform needs to be integrated with multiple payment gateways. Make sure you have a secured payment system that will assure users have a protected payment transferring process.

Push notifications – Users need to be informed about any latest deals and offers announced by the platform. Once the booking has been confirmed, a notification should be sent to the concerned user.

Reviews and ratings – These are where you can understand how well your business is performing. Users’ reviews will help you to know how well the yacht rental providers have given service to users. By focusing on reviews, the admin can make necessary changes and enhance user experience.

Yacht rental app development – Yacht Owner Panel

Multiple yacht owners need to join your platform. Only then you will be able to provide better options to users and can run your business effectively. To make yacht owners join your platform and retain them, you need to have features that benefit yacht owners. Let us identify those features that will make yacht owners stay with the platform.

Authenticated registration – yacht owners can get registered with the platform with a simple authentication process like OTP verification.

Manage captains – A yacht owner may have several yacht and each yacht will have a separate captain to drive. All these captains can be managed with a single platform.

Booking management – The yacht owner will receive booking requests from users for particular dates. The yacht owner can either accept or reject any bookings received through the platform.

Manage yacht types – yacht can be of different types. The yacht owner should be allowed to categorize his yacht according to their types like sailing, fishing, cuisine, water sports, and many more.

Price setting – Rent for each yacht can be set by the yacht owner. Luxury yacht can be costly and normal yacht can be budget-friendly. The yacht owner may need to revise his price as per the demand and season.

Payment management – The yacht owner may need to pay a commission to the admin of the platform for each business he makes through the platform. The admin will deduct the commission amount and the remaining amount will be transferred to the yacht owner’s account on getting his withdrawal request.

GPS tracking – The yacht owners should be allowed to check the real-time location of their yacht that have gone for rental. Through GPS integration with the platform, you can let the yacht owners know about the current status of their yacht.

Multiple communication channels – The platform should provide multiple communication channels that will let users, yacht owners, and the admin communicate with each other. The in-app chat option is very necessary for communication.

Yacht rental app development – The Admin Panel

The admin is the key person of the app and should be given more controlling features so that he can have complete control over the business. Let us find out the most crucial and controlling features that benefit the admin to have a seamless business operation.

User-friendly Dashboard – A dashboard will be a centralized system where the admin gets all necessary details like the total number of users, yacht owners, number of yacht on rental, spending, earnings, and many more.

User management – A platform that will contain thousands of users. The admin needs to have control over all users and he should be able to add or remove any user at any point of time from his platform.

Yacht owners’ management – The admin will allow more yacht owners to join his platform. He should be able to remove any yacht owner. He should keep monitoring all yacht owners’ performance which will have a direct impact on his business.

Payment integration – The platform should be integrated with multiple payment gateways. The admin should be able to include many more payment gateways at his convenience.

Reviews and ratings – The admin should be able to view all ratings and reviews that will help him to know how his customers feel about the service provided by the platform. This will help him to make necessary changes that will keep his customers satisfied.

Analytics and reporting – The admin should be able to take reports on any metrics like individual yacht owners’ performance, monthly order reports, commission reports, and many more. This will give a clear insight into the platform’s performance.

Customization – The admin should be able to customize the platform in the future when his business gets expanded. The app should not be a rigid one. More technology advancements are urging the market and the admin should be able to integrate those technologies with the platform in the future.

Yacht rental app development – Monetization channels

You will be spending so much money and effort in building a yacht rental app. The main objective of developing an app is to generate good business. It is very essential to have monetization strategies during the development process itself.

While developing the app, you need to have a plan for integrating features that will make users and yacht owners pay when using them. Here we have mentioned some primary monetization strategies that are to be considered in your yacht rental app development.

Commission

The commission structure needs to be framed by the admin and it will be charged to every yacht owner who makes business through the app. You can set the commission according to the yacht type. For yacht that are less than 16 mts, the commission can be set as 15%, and for yachts that are more than 24 mts, the commission can be 20%. You can set the criteria to fix the commission. This will benefit yacht owners also as they need to pay the platform only when they get business.

Featured listing

Most yacht owners show interest in the featured listing option. This monetization strategy will let the yacht owner get the spotlight and will be distinguished from other yacht owners on the platform. For this, yacht owners need to pay some listing fee to the platform, and can gain more attention from their audience. With this, yacht owners will get better visibility and this will get them good business.

Third-party advertisements

You can incorporate with advertisers and allow them to post their ads on your platform. This is a good source for making your mobile app popular among your audience. You need to increase your platform traffic to get more orders. Having relevant advertisements in your platform banners will get you more audience and also for each click they make on the ads; the advertisers will pay you accordingly.

eCommerce integration

This is another source for revenue generation with your yacht rental app. You can find eCommerce platforms that are related to marine business and can integrate them with your business. For eg. You can merge eCommerce platforms that sell fishing accessories, yacht spare parts, etc. This will make users get relevant products from those platforms that will enhance their fishing experience. For each order those platforms make, you will get paid.

Unique selling points to promote your yacht rental app

The competition is getting fierce in recent years for yacht rental apps. You need to promote your brand to your audience with unique selling points that would help you to retain your position in the tough market.

Simplified booking

Users visit your platform mainly to book rental yacht. So booking is the main reason that people enter your app. This process needs to be simplified so that users will not spend much time in the booking process. The interface has to be user-friendly with better navigation. You need to make sure that your app has a dedicated page for booking and users should be able to land directly on that page and book a yacht instantly.

Nautical maps

When you are in the middle of the ocean, you will not be aware of the directions you are traveling. This feature can be additional support for users and also for the captains who are driving the yacht. They will get proper navigation through this map and they will not lose their route during the drive. Every user will prefer this feature for their safety.

Wide variety of yacht

This is another important selling point for your yacht rental business. Your platform should contain a wide range of yacht with different types and sizes. This will let users choose among many options. They can compare and select the one that will suit their needs. Providing more options will enhance the user experience with your platform.

Better pricing

You need to understand that transparent pricing is what any user would prefer. There are so many online yacht rental platforms and users can visit all of them. They can easily compare platforms and identify which is the best one. So, it is very crucial to offer a transparent pricing system with reasonable pricing.

Pet-friendly Yatch

People love to take their pets with them during their holidays. Your platform should support those users who prefer to have their pets with them. Many yacht rental platforms are not supporting this aspect and if you support then you can get attention for users with pets. This can be the best unique selling point where your competitors fail to address this specific need of their users.

Additional features

Acquiring and retaining yacht owners is quite a challenging one. Your platform should be more supportive to the yacht owners so that they will find it comfortable to stay with your business. You can provide additional features like yacht cleaning and maintenance, storage, spare parts support, and many more. This will grab their attention and they will easily get connected with your platform and would stay with your business for a long period.

Things to consider before initiating yacht rental app development

We know that you will be quite excited to start a yacht rental business. You can get better returns if you focus more on the prerequisites of the development process. You need to frame your platform so that can confront any type of challenge. Let us check out what are the things you need to consider in your yacht rental app development process.

Research on the market – This is a very crucial aspect as you need to understand the market demand before you get into any business. Make sure that your location has better yacht rental market demand. Without proper analysis, there is no point in building an app for your business.

Learn about the limitations in your area – There are many challenges and limitations in running a yacht rental business. During the seasonal time, you will get more customers to rent your yacht. You need to have a clear plan to run your business in all seasons. You should have a check on the weather as it needs to be supportive to have a yacht ride especially when you drive in a sea or ocean.

Get necessary permits and certifications – Starting a yacht rental business may need to have certain permits and certifications to run legally. You need to check with your local government and should know the respective laws related to your business. Get proper business licenses and permits before taking customers in your yacht.

Check for the right equipment – You are going to run a yacht rental business where people will get your yacht to sail. The yacht needs to carry all safety equipment as there are chances of risk that your customers may encounter during the trip. Make sure the yacht carries all communication equipment, and safety properties like life vests, flares, and first-aid kits. Also, the yacht should carry tools for maintenance.

Have a marketing strategy to promote your business – You have decided to spend your amount on building an app. You need to make sure that your brand gains enough visibility in the market. For this, you need to have a proper marketing plan and implement it at the right time. Make use of all digital marketing channels that will get you high visibility and more traffic to your platform.

Get your yacht rental app development with Appkodes

Appkodes is the most reliable premium technology partner that provides the best on-demand yacht rental apps that will elevate your rental business. Our team of professionals can build a customized solution for your business needs.

Our rental apps undergo vigorous quality assurance and ensure our app is fully-functional and more user-friendly. All the latest security measures are implemented during the yacht rental app development process and you can easily prevent any unauthorized access.

With great market research and understanding, Appkodes can get you the best yacht rental application. Users can request to build the app from scratch if needed. Our team with domain expertise can get your requirement and will be able to deliver the app on time.

If you do not have time to wait for the entire development process from scratch, you can also go with our boat rental script that is ready to deploy. You can get a customizable solution at an affordable price.

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ABOUT THE AUTHOR

Author

Glory is a creative content writer whose writing has a deep connection with users and can provide SEO-friendly tech-driven content. Being a freelance content writer, all her writings meet the demands of any online business, solopreneur, start-up, and brand.