Anyone charter their boat as a business?

[Rumrace]

I knew a native in White River made $1,000.00 a week + tips with a 14’ aluminum boat and old Johnson. He didn’t have a captains permit from the highest condescending court in the land. No VHF license, no gps, didn’t even need his compass. I’d say more but it’s fishing so all lies.
I’ve a friend in Vancouver runs 5 boats to take tourists fishing for wild salmon. Good fun I caught a 12 pound pink off one. Down side is the Salmon farms are eating the wild salmons food and they are not even Pacific Salmon. So that is hurting his business.
Several years ago I volunteered my boat for a small group of 4 divers. We were visiting a wreck we had dropped at 100’ in Georgian Bay.
The boat was a 310 SeaRay Sundancer the year before the coast guard insisted it was a 330. Was a huge mistake. One tank damage a teak trim on stern door. And a chip on fibre glass. Small SeaRays suck at carrying 4 divers and gear.
Work from the boat hell ya otherwise I just don’t want people touching my stuff or having non boaters touching my stuff.
I really thought the Beneteau 2 cabin with the Pantry/office was for me until I sat in the “ office”. You can Sue your boss if they put you in a cubical that small. It’s like the Radio room in a 1960’ submarine movie.
I think earning money from the boat is easy, earning money with the boat not so easy.

[BuoyCall]

All great information and alot to consider. Cant wait

[adventuren1]

Another option to earn money from your boat is to put it into a charter fleet. I know of one friend who did this and it's a good deal if you can give up time on your boat. The best part is the charter company takes all the risk.

[goboatingnow]

Originally Posted by adventuren1

Another option to earn money from your boat is to put it into a charter fleet. I know of one friend who did this and it's a good deal if you can give up time on your boat. The best part is the charter company takes all the risk.

And you take all the depreciation

[bgallinger]

Manateeman: What does speaking French have to do with the sun coming up!!?? God save us.

[goboatingnow]

Originally Posted by BuoyCall

Starting to explore the idea of chartering our boat as a part time business after we purchase it and gain the needed experience of being able to do weekend charters. Does anyone else currently do this to make extra money? We are in central Florida's east coast. Kind of putting together a business plan.



Thanks

Frank

Frank if you have a profession better you explore how to make money about what you already know.

[adventuren1]

All I can say is that was not my friends experience. The charter fleet maintained his boat and it left the fleet in better condition. No depreciation at all. I actually stayed on the boat the weekend that it was getting a new carpet headliner installed. Courtesy of the charter company.

[goboatingnow]

Originally Posted by adventuren1

All I can say is that was not my friends experience. The charter fleet maintained his boat and it left the fleet in better condition. No depreciation at all. I actually stayed on the boat the weekend that it was getting a new carpet headliner installed. Courtesy of the charter company.

There mere fact its a ex charter will knock 25% of it anyway

The “ left in charter” model has largely disappeared as most chathers own there own boats.

[double u]

Originally Posted by adventuren1

Another option to earn money from y tegorically deny that!to caour boat is to put it into a charter fleet. I know of one friend who did this and it's a good deal if you can give up time on your boat. The best part is the charter company takes all the risk.

having worked 3 years on a charter base I have to categorically deny that

[BuoyCall]

Originally Posted by ItDepends

Does you business plan include getting a USCG Captain's License?

Do you have the required documented sea time to obtain the license you need?

Just got my 6 pack. Looking for experience on larger boats. Hard to find. Have life long boating exp but not on anything over 35’ as the operator that is.

[BuoyCall]

Originally Posted by CSY Man

I have been chartering my boat the last 6 years: Never got rich from it but the income will offset some of the expense in addition to the tax benefits.
Set un an LLC, transfer ownership of the boat to the LLC, switch registration from recreational to commercial, set up a business account with your bank, get required safety gear like Type 1 life jackets with automatic strobe lights, get a life ring, make emergency check lists, join a drug consortium (for USCG required random drug testa) carry an alcohol tester onboard, carry the latest light list, coastal pilot, rules of the road, paper charts, various forms for accident reporting and a few other bits and pieces. Get commercial insurance, set up a web page, print brochures and cards, get your Merchant Marine Credentials, get a TWIC card.
To make sure you got everything right, invite the USCG over for a UPV Examination.
It has been fun, but shutting down now, will go strictly recreational again.

Been off the site a while. Just took the capt license course, passed, filling out the app, got the twic, workin on the medical and finding a drug test location. Current off shore boat just blew a motor so dealing with that. May sell that and buy a smaller liveaboard to practice on. Where are you located if close enough could throw u some gas/beer money for a ride.

[BuoyCall]

Originally Posted by mvweebles

20 years ago I used my trawler to teach close quarter maneuvering classes. Insurance was a killer even back then. Maybe I needed go charge more, I dunno. But sure seemed like my insurance agent was making more than I was. Not many choices either. Might work better outside of US waters. Check out the Neal's at Mahina.com

If you want me to take a look at your insurance maybe I can save you some money on your premium. Nothing ventured nothing gained. I have a few diff carriers to choose from. Diff situations I use diff carriers. As for making money in insurance....every type of ins be it auto, home, boat, commercial..the agency gets between 8-12% of the premium as a commission. Of that the agent typically gets 20-40% of that. So on a $2,000 policy I would make $60-100 bucks not a lot but with good customer service you retain the client and multiply your client list yr after yr. I got into yacht ins cause I had no idea what to expect...now I know and can help others who were like me a cple yrs a go.
Frank@spacecoastinsurance.com if interested.

[BuoyCall]

Originally Posted by ranger58sb

Courses can be useful, but accumulating creditable sea time for the MMC can be a serious stumbling block.

Just having the MMC won't make customers line up for deliveries. You need a good reputation (track record), both with customers and especially with their insurance companies, and that can be somewhat of a chicken/egg thing.

CSY Man's post #8 covers most of the details you need to solve.

One he didn't mention is about your personality, your tolerance levels for scumbag customers, your ability to make molehills out of mountains, etc. Keelhauling recalcitrant bozos, for example, doesn't build you much repeat business. (And you have to be honest with yourself on this assessment.)

Another is about the boat itself. Some lend themselves to different types of casual chartering, some don't. Example distinction is about whether you can attract business for overnights (ideally need private guest quarters including head/shower) versus dinner or sunset cruises. That would in turn guide your business plan...

A third can be about "other duties as assigned" and possible crew issues. Who's doing the cooking? Who's doing the laundry and./or vacuuming? Who's entertaining the guests (describing the sights, reciting the history, etc.)? Who's handling lines?

And in the meantime, who's doing the maintenance (something will probably need attention even during a charter). Note also that you're best off if you can "fix" something -- at least enough to carry on, do it better back at the dock -- immediately. So as not to interfere with the charter's fun stuff. That's not necessarily going to happen easily with a boat you just bought yesterday. Three or four years down the pike, maybe you'll be familiar enough with it to be able to do that, but from the git-go... maybe not so much.

None of this is intended to put you off; just hoping you have an "eyes wide open" take on how/whether to proceed.

-Chris

A lot of good points. As for dealing with charter guests and my personality, being a cop for 25 yrs def learned how to deal/handle all walks of life. Not looking to revamp the the industry just cut out a piece for ourselves and make a few bucks offering an experience to those who were in my shoes and add another revenue stream being on the water where we love being.

[BuoyCall]

Originally Posted by adventuren1

Another option to earn money from your boat is to put it into a charter fleet. I know of one friend who did this and it's a good deal if you can give up time on your boat. The best part is the charter company takes all the risk.

Would like to know what company that is to do some research. Thanks

[CSY Man]

Originally Posted by BuoyCall

Been off the site a while. Just took the capt license course, passed, filling out the app, got the twic, workin on the medical and finding a drug test location. Current off shore boat just blew a motor so dealing with that. May sell that and buy a smaller liveaboard to practice on. Where are you located if close enough could throw u some gas/beer money for a ride.

In Palm Coast now.
Sold the Albin 28TE, got a 2023 Sea Hunt 234Ultra on order.
Perhaps you can get me insurance on the new boat?
Recreational only, $300k Liability, $85k agreed value, experienced boater, Florida only, no offshore stuff.
Sure, come for ride.