Yacht Recommendations - NEW Crewed Charter business Setup.

[zooplax]

Hi All

I would like to setup a "Crewed - Yacht Charter Company" (sailing boat) but also use the boat to live on board (me +1 as the crew), and run weekly chartering, sunset cruises, and weekend & day trips etc..

Looking at investing around £90 - £100k for a used Sailboat by means of mortgage & investment so can't be too old a boat so it is possible to get a mortgage on it,

What boats would you suggest for this that would work well and give a good return, that are popular in the market and that are not over saturating the market.

I was considering 44ft and larger.. (Is bigger better for this, what is easier to market?)

Is the market too full of people doing this?.. How hard do you believe it would be to start this off?.

Any one out there already doing this?

Ideally I would like a sailboat that can be sailed over to the Caribbean for the winter seasons and charge for cabins so would be good to have a boat that can be commercially coded up to this level and be sufficient for guests, and work well in the med during the summer months.

Am I asking too much for £100k?

Any views & advice?,
All recommendations appreciated?, even the negative ones ...
Yacht suggestions, Makes/models, even links to ones on sale? (Preferably already in the med)..

Thanks in advance

[Jim Cate]

Zoop, this question comes up quite regularly here o n CF. It seems like such a great idea, living the great life on your boat that others pay for... what's not to like?

Well, there are a great many impediments that nature, economics and bureaucracies throw up in your path. These have been documented here many times, so I suggest that you do some CF custom google searching on the subject. It is pretty tedious to keep re-posting on these well discussed subjects.

I think that the short answer to your question is yes, you are asking too much for 100K pounds, and your apparent skill and experience level.

I'm sorry to not be supportive of your idea, but that's the way I (and others, especially those that have attempted this business) see it.

Cheers,

Jim

[zooplax]

Originally Posted by Jim Cate

Zoop, this question comes up quite regularly here o n CF. It seems like such a great idea, living the great life on your boat that others pay for... what's not to like?

Well, there are a great many impediments that nature, economics and bureaucracies throw up in your path. These have been documented here many times, so I suggest that you do some CF custom google searching on the subject. It is pretty tedious to keep re-posting on these well discussed subjects.

I think that the short answer to your question is yes, you are asking too much for 100K pounds, and your apparent skill and experience level.

I'm sorry to not be supportive of your idea, but that's the way I (and others, especially those that have attempted this business) see it.

Cheers,

Jim

Thanks Jim don't mean to make life tedious for you, seems there already a thread about almost everything on here..,- everyone's gotta start somewhere though!!, Yes ill have a look through the CF threads in more details.

I'm not looking for support, only started the thread as a "general what do people think about it" SO if anyone else does want to chip in Id happily read your views even if your new to this forum and have views.

I see there are a few Bavaria 45's & 50's out on the market these days for under 100k.. but was wondering if anyone could suggest something more suitable..

[StuM]

It would help if you told us about your experience/qualifications for running a charter vessel (and the location you plan to set this business up it too).

[zooplax]

Originally Posted by StuM

It would help if you told us about your experience/qualifications for running a charter vessel (and the location you plan to set this business up it too).

Yacht master ocean (Commercially endorsed)
Owned yachts for years - never ran a charter company before though.
Background in tourist industry sales and promotions + my own business not marine related and am also a dab hand at online marketing and web design.
Thinking of starting in the Mediterranean - but would like to do winter seasons in the Caribbean - depending on what taxes and charges are involved.. but for the moment.. was just intrigued and discussing which actual boats people thought would work best for this..

[Jim Cate]

Originally Posted by zooplax

Yacht master ocean (Commercially endorsed)
Owned yachts for years - never ran a charter company before though.
Background in tourist industry sales and promotions + my own business not marine related and am also a dab hand at online marketing and web design.
Thinking of starting in the Mediterranean - but would like to do winter seasons in the Caribbean - depending on what taxes and charges are involved.. but for the moment.. was just intrigued and discussing which actual boats people thought would work best for this..

OK Zoop, I retract my comments about experience. It would have saved some typing if you had mentioned all that in y our first post. We get so many absolute neophytes asking very similar questions that I jumped to an unwarranted conclusion. Hope that there are no ruffled feathers!

If you can manage your own marketing successfully your bottom line should be better than most folks who have to hire it out (and compete with other operators using the same agents).

As to boats... seems to me to depend somewhat on the customer base that you are aiming at. That is, big spenders or economy minded folks... different requirements for degree of posh in the yacht. In Australia we see some pretty sad vessels doing well in the backpacker type charter/daytrip business, but you need to do a lot of trips to make a crust doing that (my inexpert opinion). As you move up the socio-economic scale, the vessel requirements escalate, as do the amenities offered to the charterers. Hard to pick a specific vessel, but I'd sure be looking for as much length as you can afford. In truth, while I'm not a big multi hull advocate, a great many of the successful charters we encounter are in cats these days. A bit hard to do on your proposed budget, though!

So, tell us some more about y our aims, and perhaps a specific boat or type of boat will emerge as a front runner.

Cheers,

Jim

[zooplax]

Originally Posted by Jim Cate

OK Zoop, I retract my comments about experience. It would have saved some typing if you had mentioned all that in y our first post. We get so many absolute neophytes asking very similar questions that I jumped to an unwarranted conclusion. Hope that there are no ruffled feathers!

If you can manage your own marketing successfully your bottom line should be better than most folks who have to hire it out (and compete with other operators using the same agents).

As to boats... seems to me to depend somewhat on the customer base that you are aiming at. That is, big spenders or economy minded folks... different requirements for degree of posh in the yacht. In Australia we see some pretty sad vessels doing well in the backpacker type charter/daytrip business, but you need to do a lot of trips to make a crust doing that (my inexpert opinion). As you move up the socio-economic scale, the vessel requirements escalate, as do the amenities offered to the charterers. Hard to pick a specific vessel, but I'd sure be looking for as much length as you can afford. In truth, while I'm not a big multi hull advocate, a great many of the successful charters we encounter are in cats these days. A bit hard to do on your proposed budget, though!

So, tell us some more about y our aims, and perhaps a specific boat or type of boat will emerge as a front runner.

Cheers,

Jim

No ruffled feathers Jim :-) but thanks for the input.

I also am not a big multi hull fan.. but the size does have its advantages in chartering I presume, however this may require a 3rd crew member to assist if in the 50+ bracket.. A lot of the monohull's i believe I could get away with 2 crew.

Larger is possible but I would then maybe be required to find an investor to proceed. Did look into Marine mortgages further and even the older sailboats can have longer mortgages on them but wouldn't want more than 10 years - but that has opened up a larger price bracket.

Don't fancy the back packer style and would rather stick with quality and service.

Considerations so far:

Without extra investment:
CNB64 (2001 model)
Beneteau 57
Ocean star 56.1 (2008)

With extra investments:
Moody 64 (2003/2004 model)
Lagoon 570
ALLIAURA PRIVILEGE 585
Fountaine Pajot Eleuthera 60

All boats above would of course require a lovely big marine mortgage!! ..

Any views on these? Seems anything over a 62ft in a monohull gets a better return on weekly charter, catamarans are all a bit new to me and looking into further..

[tankersteve]

Nothing of real value to add to this thread, other than really looking forward to how it progresses for the OP. Your second post was quite revealing as there are tons like me who would simply love to live that life, paid by others, but don't have any of the skills or experience to execute it.

It sounds like you have all the basic skills (boat experience, marketing, small business) but your familiarity with the cruising grounds is also a big deal. I know that if I am chartering with a skipper, having one who can provide insight to destinations based on personal experience, as befits our time available and current conditions, is absolutely critical.

Best of luck!

Tankersteve

[Cadence]

Originally Posted by Jim Cate

Zoop, this question comes up quite regularly here o n CF. It seems like such a great idea, living the great life on your boat that others pay for... what's not to like?

Well, there are a great many impediments that nature, economics and bureaucracies throw up in your path. These have been documented here many times, so I suggest that you do some CF custom google searching on the subject. It is pretty tedious to keep re-posting on these well discussed subjects.

I think that the short answer to your question is yes, you are asking too much for 100K pounds, and your apparent skill and experience level.

I'm sorry to not be supportive of your idea, but that's the way I (and others, especially those that have attempted this business) see it.

Cheers,

Jim

Well put Jim. Their are so many things to be considered I would imagine a business plan and licensing are not among the least. Sounds so good on the surface. I would take anything here with a grain of salt and do some real research that is not opinion from folks that haven't done it or haven't done it in the targeted area. JMHO

[zooplax]

Originally Posted by tankersteve

Nothing of real value to add to this thread, other than really looking forward to how it progresses for the OP. Your second post was quite revealing as there are tons like me who would simply love to live that life, paid by others, but don't have any of the skills or experience to execute it.

It sounds like you have all the basic skills (boat experience, marketing, small business) but your familiarity with the cruising grounds is also a big deal. I know that if I am chartering with a skipper, having one who can provide insight to destinations based on personal experience, as befits our time available and current conditions, is absolutely critical.

Best of luck!

Tankersteve

Thanks, Good point and something ill consider, possibly using some one local as crew who has a lot of local knowledge would benefit clients on a charter week especially in the early stages. However a good cruise of the area is a must in home base.

[zooplax]

Originally Posted by Cadence

Well put Jim. Their are so many things to be considered I would imagine a business plan and licensing are not among the least. Sounds so good on the surface. I would take anything here with a grain of salt and do some real research that is not opinion from folks that haven't done it or haven't done it in the targeted area. JMHO

Yes all taken with a pinch of salt. but great to hear views of people out there.

[zooplax]

Just came along this website

www.catamarans.com | US Sailboat Show Annapolis, MD; October 10-14 2013 !

Fair enough the boats they are advertising are WAY out of my price bracket but gives a nice insight.. Still researching..

[Cadence]

Originally Posted by zooplax

Just came along this website

www.catamarans.com | US Sailboat Show Annapolis, MD; October 10-14 2013 !

Fair enough the boats they are advertising are WAY out of my price bracket but gives a nice insight.. Still researching..

Do enough real research and develop a business plan. If you are hell bent for election to do it. With a real business plan a bank will work with you. But if they don't I think you should take that as a bad omen or better yet good advice.It sounds like you may be under funded?

[Jim Cate]

Zoop, one other thing that I have noticed whilst observing crewed charter boats: the success, as measured by repeat customers, is not just influenced by the choice of vessels. The personality of the skipper and mate loom large in how customers enjoy their experience. It takes a certain type of gregarious, outgoing and people-loving person to be both a gracious host and a competent skipper. Only you can tell if you fit this mold...

We've run into some charter skips with whom I'd hate to spend a week!

Oh... besides the sort of boat on your new list (all very nice but modern designs, much like all the other new designs overall) there is the market niche of well preserved classic yachts. There is a fair number of such with successful charter records, and they seem to attract an attractive sort of customer (from my point of view, ymmv).

Cheers,

jim

[Cadence]

Originally Posted by Jim Cate

Zoop, one other thing that I have noticed whilst observing crewed charter boats: the success, as measured by repeat customers, is not just influenced by the choice of vessels. The personality of the skipper and mate loom large in how customers enjoy their experience. It takes a certain type of gregarious, outgoing and people-loving person to be both a gracious host and a competent skipper. Only you can tell if you fit this mold...

We've run into some charter skips with whom I'd hate to spend a week!

Oh... besides the sort of boat on your new list (all very nice but modern designs, much like all the other new designs overall) there is the market niche of well preserved classic yachts. There is a fair number of such with successful charter records, and they seem to attract an attractive sort of customer (from my point of view, ymmv).

Cheers,

jim

Jim, good point but not unique to any particular business. Make a friend of the customer, not money wise but personality wise. Word of mouth is your best advertisement. It also makes business enjoyable.