I haven't posted for awhile but caught this one. This is not nearly as complicated as you may think, just takes some money to start up, and you won't break even the first year or two unless you have an amazing location. Many of the successful camps were funded by parents and others that helped them to get going.
After getting the boat of course, your insurance (try Ski Safe, Vigilant, or Boat US - they all contract out to others but some will help you directly) will be 3k a year per boat. I would recommend a 1-3 million general liability policy over that at about 2k/year. Get bullet proof liability forms and make sure your insurance OK's them and agrees to back them up. Most important, just take real precautions to make sure nothing happens. We don't let people try stuff until we feel they are ready and on easier stuff, they will never take a bad fall if you are driving and teaching correctly.
Get local shops or reps to help you get equipment and boats at cost and promote them every chance you get. (Hint: rep the stuff you actually use and like so it's not BS.) Also no "good ol boy deals" no matter how good of friends you are with the shop owner or rep. I've learned the hard way to get it all in writing and ensure both parties hold up their end of the bargain. This is all the easy stuff.
The hard part is developing a really good teaching system and daily schedule. You will be in the boat way more than you think so you have to stick to a schedule and ensure all of your people have a consistent message. We also let people ride as often as they want but stick to 20 minute sets so they don't fall apart while trying new stuff, especially technical stuff.
I would not recommend doing this if you think it will help you get on the water more...won't happen like you think.
Feel free to check out our website,
www.milehighwakeboarding.com and copy anything you see or could use. It's not rocket science, you just need to do this because it's a passion, not because you want to make money. And just assume, that you will never compete with the big boys like Shaun and Travis, Kyle and Ben, and a few others. Work your local area.
Best of luck!