stewart
Member
How's this for an idea?
Chartering your boat gets you a contribution to your costs when you're not using your boat (which lets face it is most of the time) but you can end up with any ham-fisted fool using your boat and not looking after it. Not to mention having to market the boat, pay tax on the earnings and pay 25% of the income to the agency!
OK, so you don't want to charter but that boat is still sat there costing money and not being used most of the time so maybe getting someone in for a boat share scheme is the answer. But then you no longer own the boat and I'd think finance gets more complicated if you don't have clear title and you can't sell the boat easily etc. So how about a compromise between the two. You still own the boat but get someone who would normally be tempted to do a boat share but they don't need to find the capital but pay a higher proportion of the running costs.
Example:
A 45-50' boat might cost around £1,000 per day to charter in August in the med (or perhaps a bit less) and might cost say £25,000 per annum to keep, berth, repair, depreciation and finance. So how about offering say 40 days of use between April and October to someone for say £20,000, or maybe express it as a percentage of costs. The user now has a motive for looking after the boat, and it can be checked over at each handover. The user can also have access to it for a couple of weeks and many weekends over the summer and with good planning you can both use it when you want. It certainly costs them less than owning a boat (or chartering), and they don't have to find any capital and gives them virtually all the benefits of owning one. You get the income you want but without the negative aspects of chartering or boat share.
Does anyone do anything like this? Do you think it would work?
<P ID="edit"><FONT SIZE=-1>Edited by stewart on 24/10/2002 22:16 (server time).</FONT></P>
Chartering your boat gets you a contribution to your costs when you're not using your boat (which lets face it is most of the time) but you can end up with any ham-fisted fool using your boat and not looking after it. Not to mention having to market the boat, pay tax on the earnings and pay 25% of the income to the agency!
OK, so you don't want to charter but that boat is still sat there costing money and not being used most of the time so maybe getting someone in for a boat share scheme is the answer. But then you no longer own the boat and I'd think finance gets more complicated if you don't have clear title and you can't sell the boat easily etc. So how about a compromise between the two. You still own the boat but get someone who would normally be tempted to do a boat share but they don't need to find the capital but pay a higher proportion of the running costs.
Example:
A 45-50' boat might cost around £1,000 per day to charter in August in the med (or perhaps a bit less) and might cost say £25,000 per annum to keep, berth, repair, depreciation and finance. So how about offering say 40 days of use between April and October to someone for say £20,000, or maybe express it as a percentage of costs. The user now has a motive for looking after the boat, and it can be checked over at each handover. The user can also have access to it for a couple of weeks and many weekends over the summer and with good planning you can both use it when you want. It certainly costs them less than owning a boat (or chartering), and they don't have to find any capital and gives them virtually all the benefits of owning one. You get the income you want but without the negative aspects of chartering or boat share.
Does anyone do anything like this? Do you think it would work?
<P ID="edit"><FONT SIZE=-1>Edited by stewart on 24/10/2002 22:16 (server time).</FONT></P>
