Boat and jetski hire business??

[boatingcrazy]

Hi,

I would eventually like to start up my own jetski and boat hire business or motoryacht charter business. There are two main questions, firstly do the motoryacht charter business's actually make that much money after the initial outlay. I see many 60foot yachts such as cantieri and tuzla and the likes offering 1 weeks charter at ridiculous rates of say 60000 euros. Do they only work 2 weeks a year or do they rake in the money from rich people with no concept of the value of money.

Secondly with a boat and jetski hire business there is only a 6 month season to do work(or play) however by my calculations given the right location and after initial outlay you could easily make over £100,000 clean profit in a good six month season with just 5 jetskis and two ski boats. What are the regulations on setting up business such as this in say cyprus or mallorca? I know that large boats of 30 feet upwards must have £10,000 of regulation crap put on but is this possible with a jetski!!

Any help with this topic would interest me greatly.

Tristan

BOATINGS FUN BUT BETTER WITH SUN


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[Tim_Bennett]

Hi Tristan and welcome. I can't give advice re stinky charters etc but would urge you to beware entering the jet ski business. With absolute justification, authorities are clamping down on this sort of thing. They're noisy, dangerous to other water users and a disaster for sea life generally. As far as their effect on the tourist industry, there is little more annoying than to be relaxing on an idyllic beach enjoying one's hard earnt annual break, when the tranquility is shattered by the scream of these machines and the creatures who seem to want to hire them for an hour of self indulgence. I admit they're great fun for the individual driver, but they're a misery for anyone within a 2 km radius of their operating area. Local authorities are wiseing up to the effects on the overall tourist industry so beware! Also, if you're thinking of going into a fun business in a superb location, you can bet your bottom dollar that every man and his dog has beaten you to it - competition will be very aggressive, especially from the locals who seem happier to subsist on £10,000 a year than the NW Europeans with their 'get rich quick' culture. Advice from an Old Git: Join the Navy, have a great career, make full use of their superb sailing and other adventurous facilities, retire young and fit and buy a boat exclusively for your personal use. Sorry if this sounds like a lecture, but hope it gets you thinking.
Whatever you decide on, good luck!!

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[towzer240]

re boat charter.

you have lots of overheads, crew wages, berthing anywhere around the cote d,azure is expensive, public liability insurance minimum $10.000.000 as it is mainly the american market you will bee looking at, agents fees they take a cut of the charter fee for advertising and doing the paperwork keeping in contact with the clients aranging flights and transport.
unless you think you can do all the paperwork yourself, answer the phone/ email and organise lots of other bits & pieces.
then there is also the toys you need to have onboard,dive gear, jet skis, fishing, fast ribs, hard runabouts very fast.


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[john_morris_uk]

In my experience many 'rich' people have a very good idea of the concept of money - its how they got rich in the first place!

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[boatless]

It's been said before, and it'll be said again.

There's only one way to make a small fortune in the marine industry, and that's to start with a large one.

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[DepSol]

Not always. Depends what you call a fortune.

<hr width=100% size=1>Dom

<A target="_blank" HREF=http://www.soltron.co.uk>the website</A>