Should I charter my boat? Why not, it pays the expenses and even more!
In Europe, the majority of boat owners from the moment they have purchased their boats they are in process to charter m in order to generate income.
Here in North America, it’s not a natural reflex to think charter as owners tend to keep their boat private. The revenues are very interesting especially if you do not use the boat all the time. A boat sleeping at the dock is not profitable and the expenses are there whether it is used or not.
The charter mode approach makes it more accessible to have a captain onboard at all times for surveillance. The majority of charter boats over 60 feet are always with a captain and at least one crew member. The captain will have complete control of the boat but does not do meals or room service.
When the boat reaches 70 feet and over, it would be normal to have 2 to 3 crew members. For 100 feet, we are talking about 4 to 5 crew members. When guests charter a large yacht the service is complete, ie, all meals included, room service, washing, cleaning, in short the crew is at your service and this at all times.
When your boat is in charter mode the boat is always under the complete supervision of your crew. Customers are not left to their own device and most importantly they do not manoeuver the boat. In addition, the remote monitoring system allows you to observe everything that is happening on the boat.
The charter mode is the formula that generates revenue.
Let us explain how the charter mode works. It’s simple, to start with, absolutely everything is a la carte.
The package that is announced, for example, at $ 30,000 USD for a week is the rate with the boat staying at the dock, no diesel expenses and no meals are included. Only soft drinks and bottled water and this for 7 days . The guests are onboard, dine aboard and relax onboard.
As soon as a the customers request that the boat leave the dock, for example, to go to the Bahamas towards a small bay, the diesel, all the outings in the personal watercrafts, the alcoholic beverages, all the meals, the wine , etc will be charged to the card of the user along with any expenses of marinas during displacements. In short, there are no surprises for the owner of the boat as all expenses will be billed to the customer.
Guests plan their meals in advance. The staff is included in the rate, but everything else is extra. There are specialized charter companies that take care of everything for you. That is, advertising on the web, recruiting crew, making reservations, ensuring that the boat is always A-1 so that customers are always ready to leave for their holidays. The crew is responsible for solving all the anomalies and to have repairs carried out under warranties to insure that the boat is always ready, especially during the high season in the Caribbean, from December to April. From May to October is the high season in the Mediterranean.
Finally, with the revenues, the charter manager pays the crew, oil changes, etc., he also retains a percentage of the revenues. The boats that are in high demand, of course, are the most recent models (3 years and under) but mainly it is the number of rooms that is considered first and thereafter the number of available toys such as personal watercraft, zodiac, the possibility of scuba diving, in short everything that can entertain the guests. This is very important and decisive in the selection of a charter boat which will be booked weeks in advance.
The boat which offer 4 or 5 rooms makes it possible to distribute the cost of the holidays over several guests which reduces the final bill for all. The criteria of rooms is therefore essential and especially the layout of rooms, luxury, comfort, the presence of a spa, the ease of telecommunications, internet access, in short everything is important.
The more exceptional the boat, the more it will be selected by the customers. The space for the crew is called the crew cabin. It is a separate section (beds, toilets, showers, small lounge, etc.) separated from the guest rooms. All European boats over 50 feet have a crew cabin for at least one captain.
The price of charter is also important for customers, but for the most memorable holidays on a boat, customers are ready to increase their budget. Following are examples of boats available for charter in Florida and the Caribbean: N.B. The price of the charter is related to the year of the boat and its characteristics.
By order of magnitude:
Horizon 60 feet – 2013: $ 22,000 us / per week
Marquis 60 feet – 2005: $ 19,000 US / week
Sunseeker 64 feet – 2010: $ 21,000 us / week
Sunreef 68 power – 2017: $ 38,000 us / week
Azimut 70 feet – 2011: $ 23,000 us / week
Sunseeker 74 Predator – 2009: $ 32,000 us / week
Sunseeker 83 Flybridge – 2006: $ 32,000 us / week
Ferretti 80 Flybridge – 2012: $ 35,000 US / week
Cheoy Lee 81 – 2004 refit 2016: $ 28,500 us / week
Pacific Mariner 85 – 2009: $ 37,500 US weekly.
Ferretti Custom Line 86 – 2007: $ 39,000 us / week
Azimut 86S – 2007: $ 39,000 us / week
Sanlorenzo 88 – 2017: $ 50,000 US / week
Sunseeker 88 – 2011: $ 42,500 US / week
Sunseeker 95 – 2017: $ 55,000 us / week
Princess 96 – 2010: $ 86,000 US / week
Sanlorenzo 106 – 2017: $ 65,000 US / week
Ferretti Custom Line 108 – 2016: $ 70,000 us / week
Wesport 112 – 2015: $ 54,500 US / week
Azimut 116 – 2011: $ 75,000 US / week
Sunseeker 131 – 2016: $ 140,000 US / week
Technomar 131 – 2013: $ 220,000 US / week
One possible way to start a charter is to do it yourself, so you are always onboard your own boat and you have employees to support you (one or two) until you feel comfortable. The charter formula, is a way to see the boat as a business and therefore also interesting formula for a shareholder group.
The advantages are when the boat is not reserved by customers, the shareholder (s) can then benefit from the use of the boat with the crew at a low cost. It is like a 5 star hotel but even better, you’re finally on your private island in the Caribbean, but your island is moving … it’s the executive class.
It’s also great for business development. Your customers will be delighted to be invited on your boat. They could subsequently request a charter to take their family or their customers. If you are buying a boat under 70 feet, it would more economical to take charge of everything yourself.
But, if you are acquiring a boat over 80 or 90 feet, at that moment the yacht manager formula becomes a formula with peace of mind. Your boat becomes a business. We organize charters every year for customers, do not hesitate to contact us if you have questions at 514-521-1221 we are at your disposal.
Also, the Ita Yachts Canada team can take care of the advertising, advertise your boat as a charter on the web, accompany you in the recruitment of your captain, in short, let us help you through the process. But above all, if the charter interests you, everything begins with a choice of boat that will promote rentals.
Having rooms that offer all your guests luxury, same size and quality. Of course, the owners suite is difficult to reproduce especially if it is on the main deck.. Some boat manufacturers are very charter oriented.
Contact us without delay, the prospect of a boat in charter mode can change everything in the way you view a boat transaction.