The Wavetime jetski service is an absolutely brilliant one that rents out jetskis with a subscription-style system, making it fun and accessible to get out onto the water. Owning your own watercraft comes with all kinds of hidden costs and can be very expensive; by removing the financial barrier, Wavetime has really come up with a winning business model.
The Wavetime jetski service taps into the luxury market and really focuses on the experience rather than the logistics of ownership. This is a great concept that I would love to see implemented in other areas.
Implications - By removing the financial barrier from jetski ownership, Wavetime has tapped into a new market of consumers enthusiastic to get out on the water. Companies should consider how they can provide a luxury service to a middle class consumer group.
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