Sharing the benefits: welcoming boat clubs

Boat share offers maximum convenience for boaters, but it offers plenty of benefits for marinas, too. Inviting boat clubs into a marina can be a low-cost way to boost revenue and make the area a more vibrant, attractive place for visitors and locals. Charlotte Niemiec talks to marina owner Nicolas A. Mastroianni III, CEO and principal of US-based Carefree Boat Club and JetRide Holdings.

Approaching its twenty-fifth anniversary, Carefree Boat Club was founded in Virginia in 2002 and has grown to become one of the premier boat clubs in the US, with more than 150 locations. Mastroianni is not just its CEO, but is also a marina owner uniquely placed to appreciate the symbiotic relationship between boat club and marina.
“As the owner of three marinas, I’m constantly looking for turnkey solutions to grow my bottom line,” he says, and welcoming a boat club is one way to boost revenue. There is a growing trend among marinas choosing this route as part of their operations, according to Mastroianni, and for several good reasons. It increases revenue per slip, because membership dues from a single slip can generate eight to ten times the revenue compared to a traditional lease to an individual boat owner. It reduces slip waiting lists because boat clubs can provide immediate access to a fleet of boats. It also diversifies revenue streams because the increased foot traffic that comes with a boat club – often ten times higher – drives additional sales across the marina, from fuel and food and beverages, to apparel, fishing equipment and even boating lessons.
For example, “the upfront investment required to introduce a Carefree Boat Club in a marina is relatively low (as low as US$200k), which primarily covers marketing, staff, some upfront boat costs and insurance.” Many marinas can even successfully operate with existing staff until membership grows to around 150 members, at which point additional resources may be needed, he added.
A positive trend
Boat-sharing is trending in a positive direction (see Market Update, p.31). Over the past five years, the industry has seen significant growth and evolution, driven by shifting consumer preferences, more advanced technologies and societal trends. A key driver has been the broader consumer shift towards prioritising experiences over material possessions, Mastroianni explains.
There’s no doubt COVID-19 helped the industry, too, as there was an upsurge of interest in boating as a safe, outdoors activity. Carefree saw significant membership growth from 2020 to 2022, reflecting this wave of enthusiasm and, while boat sales declined sharply after the initial pandemic boom, Carefree’s membership growth remained steady.
“Additionally, we’re seeing an interesting post-pandemic trend: many individuals who purchased boats during the pandemic are now choosing to sell them and join a boat club instead,” says Mastroianni. “Often, this decision stems from the realisation that boat ownership requires more time and financial investment than anticipated. However, their love for boating has endured, leading them to embrace the convenience, flexibility and stress-free experience a boat club offers.”
“By taking care of the ‘headaches’ associated with boat ownership, such as insurance, maintenance, cleaning, winterisation and dock fees, boat club members are able to enjoy all the benefits without the drawbacks,” he adds.
Membership model
While boating has historically been an exclusive hobby, Carefree recognises that many more people wish to boat than have been able to and it has developed its membership model to cater to this demand.
Unlike boat rental clubs whose revenue is ad hoc, in order to enjoy Carefree’s fleet users must join as members by signing a three- to five-year contract, paying a one-time initiation fee and monthly dues for the duration of their contract. This benefits Carefree in that it is sustainable, recurring revenue and, in return, it maintains a strict 10:1 member-to-vessel ratio to ensure availability for its members. “What this means is that our members are able to boat when they want and do not need to plan weeks in advance, as is the case with many other member-based boat clubs.”
The arrangement suits boaters, too. “While the boat club model lends itself to new boaters who are interested in taking up the pastime but without committing to the considerable financial investment of a boat, we are also seeing a lot of seasoned boaters joining our clubs,” says Mastroianni. Many of these members have first-hand experience with the challenges of boat ownership and find the convenience of a boat club extremely appealing. “The ability to simply book a boat online, arrive to find it fuelled and ready, enjoy a concierge-level dock and on-water experience, and then walk away at the end of the day without any hassle is a game-changer,” he explains.
The company targets three different demographic groups with distinct preferences and lifestyles. The first includes affluent individuals who are well-educated, health-conscious and passionate about travel. They enjoy luxury experiences such as cruises and watersports, making them ideal candidates for high-end boating products and exclusive waterfront experiences.
The second group comprises young families who prioritise community engagement and outdoor recreation. For them, pontoon boats are a popular choice, offering a balance of comfort, space and family-friendly fun on the water.
Lastly – and unusually, in this industry – the company caters to dedicated fishermen, many of whom have owned boats before. Unlike the other segments, they tend to travel less and are more focused on the practical aspects of boating, seeking reliable, well-equipped vessels that enhance their fishing experiences.
A Carefree membership means users are not limited to a select few brands and have a diverse selection of boats to choose from, including almost all premium brands available in the marine space today. This includes centre consoles, RIBs, cruisers, pontoons and tritoons. Boats generally range in size from 19-27ft (6-8m), with some clubs offering boats exceeding 30ft (9m) in their fleets. Carefree partners with leading manufacturers, including Sea Fox, Bennington, Godfrey, Hurricane, Smoker Craft, Sailfish, Chaparral, Robalo, Highfield and Vision Marine, to ensure its members have access to high-quality, reliable vessels tailored to their needs.
On-site training
To Mastroianni, ensuring members are thoroughly versed in the waterways of his marinas is an important consideration. “The perception that members are reckless or dangerous does not ring true; in fact, I have found my legacy boaters are sometimes less conscientious/careful when at the helm! Properly trained and armed with a float plan for each time they go out, members are generally slower and safer when navigating around my marinas.”
Carefree therefore offers classes and training for less experienced boaters. All members must complete a robust course of close-quarters/open-water training before taking a boat out, and members can take refresher lessons any time for free. Carefree is also the only club recognised by the National Safe Boating Council, with trainers certified by the National Safe Boating Council as on-water instructors.
Mastroianni has also found the presence of a boat club encourages marinas to adopt a higher standard for their slip renters. Disrespectful, unclean or late-paying tenants are no longer tolerated, as each slip has the potential to generate far greater revenue when dedicated to a boat club, he says. “This shift has not only improved the marina’s profitability but also its overall environment and reputation.”
Company operation
In October 2023, JetRide Holdings, whose subsidiary, JetRide, is known for its boat club technology, acquired Carefree Boat Club, bringing its top-tier reservation and fleet management systems into Carefree’s operations. The company used this tailor-made system until the end of February, when it implemented a custom-built CRM platform to manage the end-to-end marketing, sales and operations for its clubs. The platform is specifically designed for the boat-sharing industry, to improve operational efficiency, grow revenue and save on expenses.
Since its acquisition, Carefree Boat Club has further expanded, acquiring six locations in the Greater Washington, DC area and two in Jacksonville, Florida in August 2024. Meanwhile, JetRide has continued growing, opening its seventeenth location in Englewood, Florida in September 2024 and its eighteenth in Marco Island this January.
While most of its boat clubs are located in the US, Carefree has a global presence, with locations in the British Virgin Islands, Panama and the Philippines. Its growth strategy is focused on expanding within the US and it is open to exploring opportunities wherever there is a thriving boating community, be it coastal or inland. It is particularly interested in connecting with independent boat clubs that may wish to convert to a Carefree model, independent marinas and marina groups looking to introduce a boat club and entrepreneurs.
Mastroianni predicts: “As society continues to embrace the principles of the sharing economy, the boat-sharing model is poised to become increasingly mainstream. Its affordability, access to a variety of boats, and convenience appeal particularly to younger generations, including those who may not have previously considered boat ownership. Adoption is expected to be especially strong among clubs that integrate technology into their operations, offering features like streamlined booking, captained rides, and advanced navigation assistance. It’s projected that 50% of the marinas in America will have a boat club within five years. These innovations align with the expectations of a tech-savvy audience, making boating more accessible and enjoyable than ever before.”