Start a Shrink Wrapping Business

A Lucrative Side Hustle Opportunity

Ahoy there, entrepreneurs!

Today, we’re diving into starting your own business shrink wrapping boats.

In this blog post, I will share some insights from the past 10 years that I have been covering JetSkis and boats.

The Potential: Tapping into a Booming Market

• According to the National Marine Manufacturers Association (NMMA), in 2021 there were 11,834,500 boats registered in the US, and the industry generated $31.4 billion in revenue.
• Shrink Wrapping is an effective method to earn $1,000+ per day by assisting boat owners in protecting their valuable machines.

The Essentials: Equipment and Costs

• Below I’ve attached a list of equipment needed for a shrink wrapping business.
• I recommend using the Shrinkfast 998 torch. I purchased mine in 2014, and it has helped me earn over $100k since then without requiring any repairs.

Safety – Dealing with Propane and Fire

• I cannot emphasize enough the importance of safety precautions when working with propane, an open flame, and any flammable material.
• Take safety seriously and handle the materials with care.

Navigating the Business Waters

Insurance and Licensing

• To start, contact an insurance agent and request a quote for adding shrink wrapping to your general liability policy.
• If you do not already have them, you will need a business license and state and federal tax ID numbers.

Pricing and Customer Acquisition

• Determine your profit goals by considering equipment costs and insurance.
• Research local competition to set competitive pricing.
• To acquire customers, reach out to existing clients or leverage personal networks.

Customer Payments and Job Completion

• Ask for half of the payment upfront to cover material costs.
• By lining up enough jobs, you can ensure that the costs of your equipment and materials will be covered before you start.

A Sea of Opportunities: Expanding Your Services

• There is potential for diversifying services such as shrink wrapping gazebos and patio furniture.
• The season is short. Typically starting in September and concluding at the end of the year, but the work is plentiful.

Embarking on a shrink wrapping business journey doesn’t require a massive investment, making it an ideal side hustle with the potential for significant returns.

Remember that safety, efficiency, and customer satisfaction are your anchors for success.