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The World's First Floating Lifestyle Club is Set To Launch This Year

The startup scene is always ripe with innovative companies looking to solve modern problems.

Despite rising interest rates, housing and real estate costs are still well above their 2008 levels and, in some markets, still rising. Miami, for example, is one of the hottest real estate markets on the planet, so a one-bedroom apartment can cost hundreds of thousands of dollars. Anyone looking to start a new business could be looking at millions just for a small plot of land.

ARKHAUS found a legal loophole allowing it to acquire some of the most desirable real estate in Miami at a fraction of the cost. Many restaurants and nightclubs consider beachfront property the best property you can get. But ARKHAUS is building a floating lifestyle club on luxury yachts. The startup is raising funds on Wefunder, which means anyone can invest for a limited time, for its planned launch this year.

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It can do this because its territory is under the U.S. Coast Guard’s jurisdiction, and it only has to get approval once. After its first club in Miami is approved, ARKHAUS can launch more clubs in some of the most expensive and exclusive markets around the United States — at a much lower cost.

The custom-built yachts are all-electric, luxury houseboats from Arkup, one of the most exclusive yacht builders on the planet. To create the clubs, ARKHAUS plans to connect four yachts to form a square with a swimming area in the middle.

For investors: Annual dues will cost between $5,000 and $7,500, depending on the membership level. Each club is expected to generate about $10.7 million in revenue per year. ARKHAUS has sold most of the annual memberships for the first year, so it's clear there's demand for the product.

The startup's primary competitor is Soho House, whose parent company Membership Collective Group Inc. (NYSE: MCG) launched its initial public offering (IPO) in July 2021. The stock has declined since its IPO despite nearly doubling its revenue year over year and improving its capital efficiency.

Startup investments are considered speculative, but this is offset because of the high upside potential. Like any investment, it's important for investors to do their own research.

See more on startup investing from Benzinga.

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This article The World's First Floating Lifestyle Club is Set To Launch This Year originally appeared on Benzinga.com

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