Entrepreneur Earns $40K Monthly With Just 30 Minutes Of Daily Work — Started With Only $1,700

Adam Eckert

Most people dream of finding ways to generate enough passive income to quit their jobs and just keep L-I-V-I-N, as Matthew McConaughey famously said in the 1993 film “Dazed and Confused.” One young entrepreneur has figured out how to bring in close to $40,000 a month working no more than a half hour each day.

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What To Know: According to a CNBC report, 32-year-old salesman JP Mancini II owns two boats in south Florida and brings in an average of $38,800 a month by renting the vessels for chartering trips.

It didn’t take him a fortune to get started either. In fact, he bought his first boat in 2020 with a down payment of $1,700. After setting up a quick chartering website and using Alphabet Inc’s Google Ads to drive traffic to the site, he was off.

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In 2021, he sold that boat and upgraded to a $400,000 boat that would attract higher paying customers. He used a bank loan to cover the entire payment.

“There's a reason people pay for the Ritz Carlton when there's a Motel 6 up the road for $39.99 per night," Mancini told CNBC: “It's about the experience.”

After finding some early success with rental platforms like Boatsetter and GetMyBoat, he left his job selling cars at a local dealership and added a second boat to his fleet. This time, he used a $150,000 personal loan to cover about half of the costs.

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Between the two boats, Mancini pays around $6,000 each month on the loans, but as previously mentioned, he’s generating close to $10,000 a week by renting them out for chartering trips.

He charges renters between $800 and $1,800 for trips lasting anywhere from two hours to eight hours. The renters are also required to hire their own captains, which are usually provided by the online rental platforms. The platforms even do all of the advertising and take care of the insurance for a small fee.

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Mancini himself only has to work about 30 minutes each day managing bookings and making sure the captains are keeping the boats in good standing.

In 2022, Mancini booked approximately $190,000 in profits. Instead of using the money to pay off the loans, he told CNBC that he’s looking to add a third boat to his fleet and hire someone to manage bookings, which would eliminate the half hour he spends on the venture each day.

“I don't like to spend any earned income. I use it to build out other investments. That's the whole reason I started chartering in the first place. I couldn't subject myself to the costs of luxury [boats], so I found a way for them to pay me back,” Mancini told CNBC.

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This story is part of a new series of features on the subject of success, Benzinga Inspire. 

Some elements of this story were previously reported by Benzinga and it has been updated.

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This article Entrepreneur Earns $40K Monthly With Just 30 Minutes Of Daily Work — Started With Only $1,700 originally appeared on Benzinga.com

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