How

[azzurro]

It's all very well hearing tales of high adventure on stormy seas, messages posted from laptops in sunny med locations but what we really need to know is how the heck do you finance the running of a decent sized boat?
Looking up from the lower rungs of the boating ladder, paying 98p a litre for squirt, and seeing that an extra 2' costs £30K how do I get to run around in 36' of twin diesel boating excellence without living in a caravan, going without food and selling my pension. I won't be inheriting much either so no scope there.
It seems there is an awful lot of money swilling around in Tony's socialist islands, a lot of it spent on lovely new boats running on virtually tax free diesel (for how much longer)?
How do I get some of this action - any advice/scams/plans gratefully considered

 

[Guest]

Its easy get strapped up to a load of finance . Work seven days a week so never use the boat , now you know why marinas are full of boats that never go out! Then you have two good days with the boat "The day you buy it & and the day you sell it. " I've had one good day now i'm waiting for my second. Do you want to buy a Princess 35. Finance available PX considered ; would consider V12 jag or gas guzzlin yank cheaper option than running boat !

 

[hlb]

Fraid uy just got to earn alot of money quickly or be a little bit silly with what you aint got. Theres no sensible way round it.
Secret. Buy boat one can afford bearing in mind fuel ect. Buy oat, sail around happpy. Or two, buy posh boat one can not afford, sail round unhappy. Here endeth the leason

Haydn

 

[Guest]

What ever your particular dreamboat is, make sure that you can afford to run it first. If you can't, don't go there, your dreams will turn into nightmares.
Most people start on the 'lower rungs' and trade up according to their circumstances, so enjoy your boat, whatever the length and power for the time being. If you want to experience something larger now, I believe you can charter in the Med (with the appropriate RYA certificates) or, if you have a fair degree of experience at handling 36ft+ motoryachts already, you could consider joining a 'syndicate' boat, either at home or abroad to help keep costs to a reasonable level. If you take this route, be prepared to demonstrate your boathandling skills and expect to be asked for some RYA qualifications or documented evidence of your abilities, before being accepted into any syndicate.

 

[stewart]

Re: another way

Far simpler way to get really nice boat really quickly - buy one of those nice 80 mph Bladerunners for about 100k and make several very fast trips between north Africa and Spain (nothing on water would catch you but you might have to worry about the helicopters!). Sell Balderunner and get what you really want (obviously you would have to pay cash, as in the actual folding stuff). Shouldn't take more than a couple of months (or 15 to 20 years depending on your luck). I'm sure you wouldn't be the first to finance your boating this way (possibley even claim the VAT back as you're using the boat for business purposes? Actually better not tell the nice men at Customs and Excise on second thoughts).

On the other hand, if you use your boat a lot you might find that the cost of a diesel boat compared to petrol saves you a lot on fuel and might outweigh the higher finance charges of buying a more expensive twin diesel.

 

[Deleted User YDKXO]

Work for it, steal it, inherit it, borrow it and keep it from the taxman. I guess most people with big flashy boats have done a bit of each!

 

[Guest]

Re: Value to others

Basically you can
a) Win the lottery
b) Inherit a fortune
c) Rob a bank

Or you can do what most of us on this forum have done and earn it by legitimate means. There are several tricks to this but firstly ask yourself the question, how do I earn more money, like as in ten times what I presently earn? A standard answer is to work harder. However there are only so many hours in the day. Work smarter? Maybe. Be in the right business? Maybe.

The real answer lies in value to others. Basically people and businesses pay for value added so if you are say a tax expert saving a company millions, you are adding lots of value (to that company if not necessarily the taxpayer at large) and can command a proportionate fee. Similarly you can build your own business and employ lots of people. Thats value to others also as your business provides it both to your customers and your employees.

Next, bearing the above in mind, you need a plan and forget all the jargon and crap thats spoken. Basically any good plan deals with three issues strictly in the following order

1 Where am I now?
2 Where do I want to be?
3 How am I going to get there?

Unfortunately most of corporate UK miss this. They all do step one which highlights various problems and then jump immediately into problem solving mode without considering whether the matter they are trying to fix is key or even relevant to where they want to go, if they have actually worked that out.

So there. Thats about a grands worth of value added to you so can you let me have your cheque by return!

Nick

 

[longjohnsilver]

Unless you have loads of dosh, start off small and be prepared to work on the boat. There are bargains to be had out there with boats that have been neglected that with a lot of elbow grease and not too much expense can be made quite decent.
If you start small you may eventually find the size of boat that best fits your needs, or at worst decide that boating isn't really for you, in which case you shouldn't have lost anything. It is often said that the greatest fun is had with small boats, and I think this is often true, as larger craft bring greater problems and much greater expense ie more to go wrong, more items that will need to be replaced, higher mooring and storage costs and higher fuel bills.
Having said all this I wouldn't want to be without a boat as it gives me a huge amount of pleasure and I guess that most other contributors on this forum would say the same. Also don't forget that most of the large boats that you see in any marina wil only be used a few times each year either because the owners are afraid to go out and get back again or because they are having to work harder just to afford them. Each trip will have cost them hundreds or maybe even thousands of pounds taking into account all the yearly expenses. Again in most cases it is the smaller boats that are used most often.
Start small and work your way up changing the boat whenever you feel you want to.

 

[Geoffs]

Re: Value to others

Nick makes it sound easy, doesn't he. This time next year I'll be a millionaire!

With respect to Nick, these words of advice can be found in most 'How to Succeed in Business' books. The three steps.

1) Is quite easy.
2) Is quite easy, as long as you are realistic. It's no use saying 'I want to rule the world'. History has had a few of those.
3) Is the killer. Some people like Nick, or Mr Branson are smart enough to come up with the right answer, but not all of us unfortunately.

Anyway best of luck to you all. In the meantime try www.Bananalotto.co.uk. It's a long shot, but won't cost you anything! Now back to, why isn't my engine pulling revs, or why doesn't my wife like rough weather!!!!

 

[Guest]

Re: Value to others

I agree that step three is the hard one. The point I was making is that many businessmen do not set objectives. The business moves from day to day in reaction mode without a proper rolling plan.
I do a fair bit of consulting and when you ask them clients what their objectives are often you get broad statements like "I want to succeed" or "I want to make money". You have to be much more specific than that and set achievable goals and then work out how to get there. The actions you take are prioritised to achieve the goals.

If you can't work out how to get there (step three), perhaps you have set the wrong objectives in step two.

It is depressing how few companies have any sensible business plan never mind a properly thought out vision of where they want to go.

Nick

 

[Geoffs]

Re: Value to others

Can't disagree with any of your points. You are obviously successful, so have got it right. I was just trying to say, it's not always easy, call it intelligence, vision or even luck, but some of us just ain't got it!

Stephen asked for ideas/plans/scams, you answered. Hopefully he'll be able to order his V65, or whatever turns him on, soon.

Don't want to generate a long thread on business discussions, so, OUT. (over & out if you prefer, it's amazing how often you hear that!)

 

[hlb]

Lovers Tiff!!

Well Nick.
For the first time.
I've never heared such aload of crap come out yer Scotish gob!!
Its wives that set objective not men!!
But there secret and us lot just chase around trying to fullfill or avoid them.
Clot!!
I want a divorce.
I've heard all this insultancy stuff, its 10 year old gurrru waffle.
Gets you going for about 24 hours after the insultancy and gives you a head like Peter Pan. Like you think you can fly.
Then you come down to earth with a bump.
Consultants beg the question.
If you cant do it. Teach it !!
Now get yer fat arse out of work mode and come home, yer teas in the dog!!

Haydn

 

[Guest]

Re: Lovers Tiff!!

That's darkest Lancashire for you. All bravado and at the end of the day the wife's pulling the strings - I suspected that all along. You need to take a lesson out of my book and be able to work the silence system.

What I forgot to say also is that to succeed in business you either need courage to follow your convictions or be too stupid to see the risks you are taking. Usually the former do OK and a proportion of the too thick brigade make it as well but usually temporarily because generally they blow the lot in the next business venture.

You've given me an idea, however, I could run the worlds first online insultancy practice! Fancy going halfers?

Nick

 

[robinborton]

Re: Value to others

Nick,
You missed the easiest option of all--you marry a rich woman it really works very well
Robin