Sometimes, necessity really IS the mother of all invention.
The concept behind Boatbound was born when Boatbound’s Founder, Aaron Hall, was visiting his family in Texas in July 2012. As a family who enjoyed summers boating together, the Halls made it a family tradition to spend warm days on the water, and this day in July was no different. To combat the Texas heat, Aaron planned to rent a boat to take out on Lake Ray Roberts. Unfortunately, the marina had a very limited inventory of boats for rent, all of which were booked at the time. Yet, as Aaron looked around, he noticed that there were hundreds of boats sitting unused in the marina. Being an avid user of other peer-to-peer rental platforms, it surprised him that no platform existed to tap into the excess supply of boats sitting in marinas all over the world.
When Aaron returned to Palo Alto with the idea of building a solution to this problem, the team decided it was time to stop working on their current project and get started creating Boatbound. Over the next six months, the team worked with the largest association in the United States, Boat U.S., to survey their members on the idea. They spoke to thousands of boat owners at local marinas across America (and received an overwhelmingly positive response). They also began building the first insurance program of its kind to cover Boatbound boat rentals to ensure a safe, protected experience for all Boatbound users.
The surprising truth they discovered along their journey was that the average boat owner uses their boat only 14 days a year and that collectively, boat owners spend over $10 billion in storage and maintenance fees a year, with no way to offset those costs. Boatbound’s rental platform changes boat ownership by allowing owners to make money, instead of losing it. And, as it turns out, there are millions of Americans who don’t own boats that are eager to find a better way to enjoy boating without the cost of ownership.
As Boatbound continues to grow and expand, we'll keep adding new boats to our inventory and new opportunities for people in communities across the United States to experience the benefits of boating without the high price tag. We thank you for your support and we are excited and honored to invite you to join our passionate community of boaters. Ahoy!