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Old 20-05-2005, 02:14   #1

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Still Grasping at Straws...

Hi Everyone.

What's the popular opinion on chartering?

We are looking to get that elusive blue water capable cruiser (that will also be our home) for under $100K and charter it to make $$ and pay it off. Unlike normal chartering where you kiss your boat goodbye while strangers use it, we would be the crew (wife and I are STCW certified and I will have my OUPV shortly).

Does anyone know if this is a feasable plan? We are looking to put down maybe $15K on a boat, charter for 2 years straight (summer in US, winter in Caribbean). We hope to have it paid off in 2-3 yrs and be able to start cruising full time then, with the occasional private charter. Anyone have experience with any companies that might be willing to back this kind of deal?

Anyone on the board want to back it and make a percentage?

Thanks in advance for the infinite wisdom...


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Old 20-05-2005, 14:33   #2
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Depends on the boat. Most crewed charters offer gourmet meals and toys. Also the boats usually have very seperate quarters for crew vs guests. The price you charge will also be a factor. I would check out the crewed charter listing in the BVI and FL/Bahamas area as a sanity check.

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Old 20-05-2005, 19:38   #3
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A few years ago (OK, maybe 10) the Carribean Charter Association was reporting that the Charter “Occupancy” Rate was about 55%.
I know several people who tried chartering aboard their home, and did NOT like it (aside from the difficulty earning a living - never mind accumulating equity).
Sorry for my (implied) negative opinion ...
Gord May
"If you didn't have the time or money to do it right in the first place, when will you get the time/$ to fix it?"

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Old 20-05-2005, 23:16   #4
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On a more positive spin check out:-
I think that you might need to be the sort of person who is always social.
Financially I there is the old joke about how to make a small fortune from an airline(start with a large one).
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Old 22-05-2005, 20:06   #5

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Thanks for the input, everyone. As I look into this some more, it might make some sense for us. Namely, because I have suffered another finanical setback attempting to purchase the boat.

My position was eliminated at the employer I had been at since January. Back to the drawing board. I figure I might as well do something like this so I could at least enjoy the work (and of course the time the boat is not chartering)

Unfortunately, though... this means we cannot get the "boat of our dreams" which is a steel pilothouse. We are instead going to have to get a piece of plastic fantastic... and one with a very pretty interior at that. We have to give consideration to speed, and a beautiful interior that will charter well. Goodbye Bruce Roberts, Van De Statds, and Colvin Gazelles, and hello Hunters! Not sure how to feel just now...

Thanks for all of your input. Gord, I do worry about the negative aspects, so thanks for bringing them up.

PS: When you were mentioning a 55% charter occupancy rate, did you mean if you put the boat up for charter for a full calendar year, it would be occupied with paying charter guests an average of 55% of the time? If so, that actually sounds good to me. I had assumed approx a 25% charter occupancy rate.

Take Care,

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