Subscription culture drives boat share prospects

The boat share industry is proving popular and fast-moving, with both new ventures and long-established clubs enjoying success. Companies are optimistic for a future where ‘subscription culture’ continues to help transition boating from an expensive luxury to a mainstream, family activity. Charlotte Niemiec reports

The market for boat share is growing at an annual rate of 6.7%, according to statistics from The Business Research Company, having expanded from $17.75 billion in 2023 to $18.94 billion in 2024. The boost stems from shifting travel and leisure trends, a growing love for water-based activities post-COVID, consumer demand for eco-friendly, sustainable experiences over material possessions, the rise of convenient peer-to-peer boat rental platforms, savvier marketing directed at a younger generation via social media, and new technology to manage it all. Consequently, the market is predicted to keep thriving and reach $24.46 billion by 2028.
For boaters looking to get out on the water without the commitment of boat ownership, there are plenty of options available, from yacht charter to boat clubs, booking via apps or taking out multi-year memberships.
The world’s first boat club was US-based Freedom Boat Club, established in Florida in 1989. Today, it is also the world’s largest, having seen its membership grow from 20,000 to 60,000 in the last five years. “Our location count has increased from 170 to more than 400 locations worldwide since 2019,” says president Cecil Cohn. Another US-based company founded in 2002, Carefree Boat Club, has expanded out to more than 150 locations, primarily in the US. In the UK, Beyonder launched in 2021 under the wider company boatfolk, which owns 11 marinas in the country. Last year, Beyonder added two new locations to its network – Portland Marina in Dorset and Conwy Marina in North Wales – in addition to its location on the Solent in Hampshire.
Sharing trends holding strong
Commenting on boat sharing’s surge in popularity, Beyonder’s group commercial director, Dominic Zammit, believes it is likely part of a wider cultural take-up of ‘subscription services’. He anticipates the market will only increase, because it provides a low-risk way to explore boating for the first time while offering flexibility that fits into different lifestyles. However, it’s proving attractive not just for the young or inexperienced, he adds, but as an option that “has also proven popular with older boaters as a way to ‘keep their feet wet’ once owning and maintaining their own boat becomes too cumbersome.”
Freedom’s Cohn believes boat share will continue to grow as a complementary model to ownership. It is a natural solution to the growing demand for more sustainable, cost-effective ways to enjoy recreational activities, he says, and is likely to attract the next generation of younger, more diverse boaters. “As technology continues to evolve – both on and off the water – we believe there is incredible opportunity to deliver solutions catered around enhancing the member experience and optimising their time on the water.”
Croatia-based Booking Manager provides management software for companies worldwide, helping them manage their fleets and ensure boats are always available. Its founder and CEO, Marko Gnjidić, agrees that “generally, over the past ten years, charter has become less niche. Catamarans took over, crewed or skippered charter became more common and in demand, and the public perception of what cruising is has changed,” he says. “What we’ve witnessed in the past five years is a democratisation of charter. A boat holiday is no longer reserved for passionate sailors only, but also families, groups of friends, or even single people wanting to meet others and generally people who used to book an all-inclusive resort stay in the past. This brings new challenges to the industry, from boat equipment and sustainability to marina services. All these questions will ignite new trends that we will start to see more of in the future.”
The biggest boost to the industry was COVID-19, where travel restrictions and the relative safety boating provided in terms of isolation made it very attractive, and this trend has held up. Cohn says: “The boating boom that we saw during and after COVID has absolutely held strong. While the initial surge in interest was unprecedented, we continue to grow our overall membership with consistent demand from both members and franchise partners as awareness continues to build around the benefits of the boat share model.”
Why choose to share a boat over owning one? Freedom’s Cohn says people are beginning to realise the flexibility and convenience of boat sharing over ownership. Factors like the increasing costs of boat ownership, maintenance and storage, and the appeal of accessing a wide variety of boats and locations have all contributed to this growth. Younger generations are embracing the boat share model, which offers key advantages such as eliminating the financial commitment of buying a new or pre-owned boat, including the maintenance and repairs, storage and insurance. It also avoids many of the time commitments, such as trailering, cleaning and even fuelling the boats.
Beyonder’s Zammit adds: “It’s no secret that the costs of having a boat can really add up. With a boat subscription you get access to new vessels at a cheaper rate than buying a boat with all the associated costs such as berthing, routine maintenance and repairs included in the price. Additionally, we find that for some customers it’s a great way of testing out whether boat ownership is worthwhile for them, it gives you the chance to try it out for a couple of years before you commit fully.”
Win-win
The advantages are not just for boaters, but present many opportunities for marinas, too. Beyonder chose to incorporate integration with marinas into its business plan from the start. “As part of the boatfolk family, integrating with marinas was always going to be core to how we operate,” explains Zammit. The company’s berthing team looks after boaters and its boat care crew services the vessels. The goal is to give customers a seamless experience, with all the privileges of other berth holders. “We find that this connection with the marina team makes it even easier for customers to ask for advice or recommendations from our expert crew when needed, which is particularly valuable for boating newbies or those not local to the area they’re boating in.”
Cohn highlights how having a boat club operate out of a marina can add substantially to the bottom line. “As a boat club operator, we can provide marinas stable and consistent slip rental revenue​ from a single corporate tenant, typically across several slips and with longer term leases,” Cohn says. Boat clubs can also add to marina’s upland rent roll ​with sales offices, clubhouses and floating offices. The higher volume of use of the boats in Freedom’s fleet translates to significantly higher per-slip fuel sales, with boats often filling-up daily or twice-per-day. Lastly, on average, Freedom boats are used at least ten times more than a traditionally owned boat, resulting in more marina traffic​ and increased ancillary revenue from amenities such as restaurants, equipment rentals, bait and tackle, and ice.
Membership models
Freedom’s membership model requires members to pay a one-time initiation fee and monthly membership dues, in exchange for a varied selection of boats across their home club’s locations and access to all locations worldwide. Members have unlimited access to book boats and select the make and model that suits them that day. Beyonder’s membership model is similar, with a subscription lasting a year and granting members access to boats at all its UK locations. Its online booking system allows members to secure boats up to six months in advance, but the company also offers unlimited spontaneous (within 48 hours) bookings if boats are available – ideal for the unpredictable English weather!
Even for smaller companies, managing a fleet of boats and ensuring there is always a boat available when a member needs one is a complex operation, and technology has been a key driver behind their ability to do so. “Technology plays a key role in our business to enhance the member experience and support operational efficiencies across our business,” says Freedom. The company uses a proprietary mobile app that makes it easy for members to reserve boats, manage their memberships and find helpful information about their club locations. Internally, it uses software to track fleet maintenance, streamline scheduling and automate communication between its teams and members.
Vital technology
Croatia-based Booking Manager provides management software for companies worldwide, including the US, Caribbean and Asia, although most of its clients are in the busy Mediterranean region. “In a nutshell, it is a complete back-office software solution for fleet operators to manage the boat availability, contracts, invoicing, CRM and much more,” Gnjidić says. “On the other side, it is a B2B platform connecting fleet operators with brokers that can log-in online and search or book available yachts in real-time for their clients, choosing from a database of over 10,000 boats available worldwide.”
For fleet operators, the company provides both a local and a cloud solution, depending on their needs, and for brokers it has an online access where they can easily search and book yachts. It also provides both with websites, search engine widgets or API connection to present the boats and availability online.
Booking Manager has chosen not to provide its management software to marinas as well. “We made the decision several years ago to focus on charter specifically,” Gnjidić explains. “This allows us to concentrate all our development efforts on one sector and provide innovative, up-to-date solutions to our clients.” For example, it recently launched the first real-time solution for booking a skipper, addressing another hurdle its clients needed to solve.