Sailtime.

[Mark-1]

I heard today they've gone into administration and found this on the web.

http://www.pbo.co.uk/news/529090/troubled-waters-for-sailtime

Just out of interest, do the customers keep access to the boats in the short term or have they lost their money and no longer get to use their share of the boat time.

Do they typically pay in advance?

 

[Hoolie]

Who the heck is KTL???

Keep Turning Left - an anti-clockwise circumnavigation of Britain by forumite "dylanwinter"
Do a forum search!

 

[Mark-1]

Keep Turning Left - an anti-clockwise circumnavigation of Britain by forumite "dylanwinter"
Do a forum search!

Sorry, a rather poor 3 month old joke. To appreciate see here and read down:

http://www.ybw.com/forums/showthread.php?t=280613

I can't remember who originally asked the question but it's in that thread. I'll change my sig back when I get a round tuit.

 

[dylanwinter]

leave it

Sorry, a rather poor 3 month old joke. To appreciate see here and read down:

http://www.ybw.com/forums/showthread.php?t=280613

I can't remember who originally asked the question but it's in that thread. I'll change my sig back when I get a round tuit.

go on leave it

it is a great tag line

bad news about sailtime though

wonder how many people will be caught up in that

Dylan

 

[Hoolie]

Didn't see that thread ... ... ...

 

[Dab]

You would not guess any of it from their website, which looks like business as usual.

 

[oldrascal]

Most of the following is accurate but may be out of date as I was involved at an early stage in the initial launch of Sailtime.

Sailtime works on a franchise basis. Sailtime USA has been very successul in expanding the brand and Sailtime Europe was set up in 2005/6 partly owned by Sailtime USA and partly by the original entrepreneur in the UK.

It's business model sought 'Base Owners' who would set up their own companies (eg. Sailtime Hamble etc.) using annual pontoon moorings as the notional 'Base'. The Base-Owner pays a significant franchise fee on sign-up and I think also a percentage of annual revenue to Sailtime Europe. There are also commitments to advertising PR spend by the Base-Owner.

The new Base Owner would then promote the brand at boat shows, through the local press and at open days to find 'Owner-Members' who would commit to buy a new Jeanneau through Anacsta, the Jeanneau importer. These 'owner-member' boat would then be put into the Sailtime programme for a minimum of 3 years and the Base-Owner would then find 7 additional members per boat who would have no equity in the boat but just usage as in a gym for example.

Each boat has 8 members (one of which is the Owner-Member) and all but the owner pay a monthly subscription on an annual membership to the Base-Owner to provide a trouble free sailing experience shared between them through the use of an online booking system owned and run by Sailtime Europe. They also have to pay a deposit on sign-up and post an amount against insurance claims. Successful base owners may have 5 or 6 boats (or more) and may even pitch for additional bases.

In the case of the current troubles, three bases had been set up under one umbrella company (Sailtime Bases Ltd) and it is this company that has called in the Receivers. The 'Owner-Members' and their boats are probably not affected by this mess as the boats were not assets of the company but existing sailing members obviously won't have any boats to use officially and could lose their deposits and money lodged against any possible insurance claims.

The business of Sailtime Europe and the other Base Owners would not have been affected legally by the administration as all are separate companies. So the other Sailtime bases should be carrying on as usual.

Other Base-Owners have stepped into the gap left by the failure of Sailtime Bases Ltd. and are trying to carry on operations at the failed bases with the support of Sailtime USA. Sailtime Europe has been wound up. What this means to the members of the failed company is anyone's guess. Perhaps we can get a clearer idea of the current situation from any Sailtime members who might frequent this forum.

 

[Lgoodwin]

SailTime

Hi Mark


SailTime has 11 Franchisees in the UK and only 1 went into administration earlier in the year. This franchise has been successfully taken over with very little disruption to owners or members.

For further information please contact me directly: Lucie Goodwin Marketing Manager of SailTime lgoodwin@sailtime.com