NOMINATED BY RUTH FELDMAN, WOMEN’S BUSINESS CENTER
As a Navy veteran, Rheanna Sinnett is extremely familiar with boats and all of the intricacies of maintenance and operation. Upon leaving active duty in 2014, Rheanna began planning to go into business for herself, with a particular eye on Maine’s outdoor industries. With the combination of her experience and passions, the clear vision was a houseboat rental business built around Maine’s beautiful freshwater lakes. To ensure that she would be successful, Rheanna started meeting with advisors at SCORE and the Women’s Business Center, and attending webinars offered by the Small Business Development Center.
By 2018, Rheanna had gotten her plan finalized and decided to launch her business in Rangeley after fully renovating her first houseboat. In the first season occupancy rates were only around 40% for the season, and the business operated at a small loss due to the costs of houseboat renovations. However, by building a reputation for quality experiences in well maintained boats, Rheanna saw her occupancy rates double by the third season, with roughly 80% of nights booked. A new boat was added to the business, and provided a route to even further growth.
Despite this growth, the business still faced challenges. In 2020, Rheanna decided to relocate from Rangeley Lake after a business dispute with the town. With help from her SCORE and WBC advisors, Rheanna was able to turn this challenge into an opportunity, finding a partnership with Otyokwa Cabins in Bremen, Maine. The new location on Lake Pemaquid offered a wonderfully unique experience for her houseboat guests, easier access for the visiting population, and opened the door to a wonderful relationship with a welcoming community in Mid Coast Maine. Her partnership with Otyokwa and Rheanna’s investments in her business meant that, while the first year after the move was disrupted, The Floating Nomad was able to recover quickly and receive positive reviews and press from travel magazines and local TV coverage.
As a veteran who brought her skills to Maine’s small business community and built a successful business despite facing challenges along the way, Rheanna Sinnett has exemplified the spirit of Maine’s veteran entrepreneurs. In recognition of her military service and the success of Floating Nomad, the SBA is pleased to name The Floating Nomad, owned by Rheanna Sinnett, as the 2025 Veteran Owned Small Business of the Year for Maine.