This story is part of CNBC Make It’s Six-Figure Side Hustle series, where people with lucrative side hustles break down the routines and habits they’ve used to make money on top of their full-time jobs. Got a story to tell? Let us know! Email us at [email protected].
JP Mancini II didn’t hate his general manager job at a car dealership in Hampton, Virginia. It paid well — up to $300,000 per year — and he enjoyed interacting with customers.
But he longed for more time to travel, and wanted to find more creative ways to earn cash. So, in 2020, he took out a loan and bought a $170,000 boat. He started a chartering business called SeaEO Nautical Ventures, initially intending to just cover the boat’s payments.
The business proved more lucrative than he expected. Mancini took out another loan to swap his boat for a fancier one, left his job in November 2021 and started relying on rental platforms like Boatsetter and GetMyBoat as his primary means of income.
Today, the 33-year-old has two boats — one in Hampton, and another in Key West, Florida — that brought in more than $466,500 in rental revenue from January 2022 through January 2023, according to documents reviewed by CNBC Make It.
Mancini’s take-home pay is less than his old 9-to-5 salary, since some of his revenue goes toward vehicle maintenance and paying off $550,000 in debt from the boat purchases, he says. But he only works 30 minutes per day, he adds, giving him more time to travel and relax on the water.
Here, Mancini discusses how he created his six-figure business and how you can potentially replicate his success.
CNBC Make It: Do you think your side hustle is replicable?
JP Mancini II: Definitely. People underestimate how much it takes to be very successful.
I think there are three key elements to understand [before you start]. The biggest thing is safety. With a big thing like a boat, it’s not like renting out a car where general knowledge is applied to drive it.
Then, there’s the legality of it. You…
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