What would be a maritime business that one could start that would be profitable and successful in todays age? I am thinking Marine Salvage (pleasure boats etc), oil recovery, pile driving, contracting a ship to the government, supplying “…” service, etc. What ideas do you have? This is more like a brain storming thread and I am open to any and all ideas.
Well with the economy still recovering, there is a low supply of Angel Investors. Banks are leary of backing a “risky” venture. Start small at first. Something like a small business loan and run it yourself and maybe one or tow other employees. Marine salvage is a pretty good idea. I have been thinking about marine reposessions. Some contract work for banks picking up owner defaulted boats from marinas. Basiclly start small. Something low risk with a high return.
compliance for all applicable maritime laws
How does one go about soliciting their services to a insurance company? Offering services for marine salvage and/or marine repossessions.
I’ve had quite a bit of hands on w/ the salvage and towing (commercial assistance) industry. Depending on your location, that can be a tough business to break into and make any money. Tow Boat US is set up where the “owners” have a hard time making any real money. They receive no money from any member until they actually tow/ assist them. At that point the owner/operator does get paid by Boat US to assist the member.
Sea Tow is set up where for every member that the “franchise” signs up, they will get a portion of the sign up fee ( I am not at liberty to post the figures ). When the “franchise” services its own members it receives no compensation most of the time (there are exceptions), when they service some other franchisees member (out of area boaters) then they will get compensation from corporate.
As for the salvage end of it, I could go on for a long time about it. I was often referred to as a pirate when we rendered price for salvage work…
I think maritime security is really big now, with pirates and everything else going on in the world.
Lot’s of start up marine businesses in here http://www.boats-and-harbors.com/classifieds.cfm
If you get there paper there are a lot more.