The business side of diving....

[gangrel441]

So a few weeks ago, I go to Our World - Underwater, and I know we all hear the same story, no money in diving, make a small fortune by starting with a big one....but after walking the displays and rubbing a few elbows, I really can't help but think that a show like this couldn't exist if there wasn't money in the industry.

Vitals: MBA from DePaul, financial concentration, 10 years accounting/finance experience, on the road to DM, eyeballs on someday going Instructor, possibly in next 1-2 years. Interest at this point is some income on the side, but if carrer presents itself, always a possibility.

Anyone have any insights?

[reefraff]

There are a lot of people making money in the scuba industry. The problem is making enough money to cover your expenses. A few smart/lucky/hard-working dogs like Pat Hammer (who owns OWU and a couple of dive shops locally) have done reasonably well in the business, a lot more have wished that the Muses had given them a love of golf or needle point.

Do it because you want to and don't count on making money at it. If you view any income as a gift and never count on it, the only suprises you'll have will be pleasant ones.

[gangrel441]

I agree, Reef. I dive because I love to dive. My question isn't based on the question of "How do I get rich in the diving industry", but rather (thinking as an MBA), "How do I take my education and experience (MBA, business world, future DM) and apply them to an activity and an industry I have a passion for, to make a difference in the industry and possibly a decent income (on the side or as a primary)". I am already exploring breakeven points on insurance and dues as a DM and as an instructor, but I am taking a look at the industry itself now. I don't even know that I am looking for a path to follow, maybe more like conducting a case study. ;)

[theskull]

For most the best thing is to make your living by making your living, and keep your passion for your hobby.

Turn your passion into your living and you very well may lose the passion in pursuit of the living.

Do consider what you love about diving. If it is making cool dives with skilled buddies in neat places when you WANT to, then forget making a business of it. If you love the magic of introducing new people to the underwater world while kneeling on the bottom of a swimming pool and making endless passes around the same 12 rocks in a quarry, then the business may be for you.

And ask yourself this: Do you want to do this every day of every week, even when you don't feel well?

You will get a taste of what I'm talking about in your Divemaster experience--both the good and the bad. You'll get to be the expert and role model, and you'll also get to carry everyone's tanks back to the shop for fills and try to talk sense into people who panic when they flood their mask in the shallow end of the swimming pool.

Not trying to talk you out of the SCUBA business. Somebody needs to run the industry to keep me supplied! :) Just pointing out some of the reality that goes with the "glamour".

theskull

[ppo2_diver]

In the Chicago area, you won't be able to make much. There are a few dive stores in the area that really are hurting. I can name three that are close to being out of business or are looking for buyers. I also wanted to open up a dive store in the area, but I've come to realize that I love diving more than working to dive. I only want to teach enough to pay for my annual diving expenses. If I can do that, then it was a good year.

I also have a MBA and my day job is in corporate strategy. I found that it wouldn't be very feasible to start fresh with a new dive store in the Chicago area.

Duane

[juls64]

I work for a dive shop. I DO NOT WANT TO OWN ONE!

[theskull]

I work for a dive shop. I DO NOT WANT TO OWN ONE!

But you're an exploited proletarian. Overthrow the bourgeoisie. The workers should own the means of production.

theskull

[juls64]

But you're an exploited proletarian. Overthrow the bourgeoisie. The workers should own the means of production.

theskull

but I always thought of myself as one of the "smart" ones! ;)

[gangrel441]

Thanks guys. Just a little clarification...

I have been teaching Karate for well over a decade, and have never made a dime doing it. It is for the love of the art that I teach. I see the same passion in my diving, and I don't mind helping others. However, my thread about becoming a DM and finding breakeven points financially for insurance and dues was about recovering costs through diving activities. This one is not. This one is about the industry as a whole.

What I am exploring are the possibilities behind the scenes in the industry. Opportunities with agencies, equipment manufacturers, trade organizations, etc.

[gangrel441]

Hmm....no takers, eh? :D