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



<hr width=100% size=1>

 

[lawrieb]

If it were that easy I think that there would be a lot more people doing it!!!!

Wouldnt mind seeing your business plan as I have looked at similar ventures and not seen that return....

Good luck and if you need a sleeping partner (in the business sense) then PM me

<hr width=100% size=1>

 

[Roy]

Lets take a wee looksee ---5 bikes at say £5000 each for a decent item = £25k + assumed £10k each at least for a couple of towtubs = £20k

Insurance for my bike was £650 full comp. So for hiring --maybe £1500 x 7 = £10.5k

So far, its up to £55,500. Then add in extras like lifevests/wetsuits etc, ropes and warps and all the bits. Then berthing or storage, then wages of helpers...etc etc.Guess you would need two peeps per boat (by law) and two or more to help with the jetbikes and one to do recovery rescue work. Quite a wage bill building here and then you have repairs and maintenance - add at least 10% of total purchase price - say £6,000. So, you would need to turnover at least £200,000 in 6 months - about £1,100 per day, 7 days per week and you might break even. The idea is brilliant but why not start smaller - increase profits, reduce man power and minimise risks. Cheers. Roy

<hr width=100% size=1>What does this mean then?

 

[jfm]

There are lots of charter boats that are not full time businesses, rather they do occasional charter to contribute towards running costs.

Some seriously sorted charter boats do well however. I know one quite well, a new 2004 motor yacht, capital cost £1.9m and this season it has done 110 days charter £5k per day, and only 300 engine hours. That's a good business. Frecnh Riviera

Better not to insult your prospective clients though? Mebbe see it htru their eyes - need to unnerstand them if planning to build a business transacting with them. €60000 pw is not ridiculous for a £millions boat. Most clients take for 10 days, not a week. Rich people will generally have a good understanding of the value of money, and spending €75k on a vacation is not usually a sign of stupidity, the opposite more likely. To make the charters fab and make them come back, you need to develop a concept of the value of time to someone who can splash that much cash on a holiday. They want the holiday to be right, not cheap

<hr width=100% size=1>