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Jet Ski Rental Business Idea

Let's break it down:
Number of jetskis bought: 10
Cost of buying 10 jetskis: $85,000
Rental rate on weekdays: $90/hr for 4 hours per weekday
Rental rate on weekends: $700/day for 2 weekend days
Time period: 1 year
First, let's calculate the total revenue generated from each jetski:

Revenue from renting out each jetski on weekdays:
Rental rate on weekdays = $90/hr
Number of hours rented out on weekdays = 4 hours
Number of weekdays (Monday to Friday) in a year ≈ 52 weeks x 3 weekdays/week ≈ 156 weekdays

Revenue from renting out each jetski on weekdays = Rental rate on weekdays x Number of hours rented out on weekdays x Number of weekdays
= $90/hr x 4 hours x 156 weekdays
= $56,160 per jetski

Revenue from renting out each jetski on weekends:
Rental rate on weekends = $700/day
Number of weekend days (Saturday and Sunday) in a year ≈ 52 weeks x 2 weekend days/week ≈ 104 weekend days

Revenue from renting out each jetski on weekends = Rental rate on weekends x Number of weekend days
= $700/day x 104 weekend days
= $72,800 per jetski

Now, let's find the total revenue from all 10 jetskis:

Total Revenue from all jetskis = (Revenue per jetski on weekdays x Number of jetskis) + (Revenue per jetski on weekends x Number of jetskis)
= ($56,160 x 10) + ($72,800 x 10)
= $561,600 + $728,000
= $1,289,600
So, the total revenue generated after one year of renting out the jetskis is $1,289,600, which is more than $1 million as mentioned in the provided information.

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