Small Yacht Chartering Business idea – your thoughts?

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Apologies, but I am using a different name for this post, just in case I disclose a bit more personal info on this thread / online than I would be comfortable with having attached to my regular “persona”.

I was down the local harbour and I saw a number of small yachts moored in a row, and a couple for sale. Boats like a 21 foot Corribee, Hurley 20 /22 etc. The thing they all had in common was that they were GRP, old (1960’s / 70’s in design and usually in build), had outboards on the back and are all “solid designs” / pretty much idiot proof, fairly low maintenance (WHEN sorted!) and can often be picked up for £2/3k. and sometimes less.

Although of course they could be used for extended voyages I guess that most in practice use them as day / weekend boats to sail and potter around the coast to nearby anchorages (I know I did a long time ago), the main purpose of the cabin is to be able to have a toilet, have a hob and somewhere to shelter in or have a nap in (etc?!) – and NOT to accommodate a family of 5 for a fortnight.

Sitting their pretending to do some work! I thought to myself why doesn’t someone hire these sort of craft out to Tourists? I live in a Touristy destination.

I can see why someone would want to charter / hire a big 30/40 foot sailing boat and have a “proper” holiday aboard, but I was thinking that maybe some folk would instead prefer to hire something small and a lot cheaper for either a day out or even a week of day sailing (even if they did not use it every day all day) and not feeling like they “have” to live aboard cos of the cost of a big boat makes also paying for a hotel / B&B seem excessive – the idea being it is part of the holiday in the same way as folk hire a Jetski or play golf rather than BEING the holiday itself. Maybe good for those couples where one half is not a great one for sailing? I guess also a limited market / off season market for those wishing to teach themselves to sail / learn the area (before they buy that 35 foot Beny?!) without the aggro of buying and selling something themselves? Or even corporate race days / playing “silly bxggers”?

Partly wot got me thinking was that many years ago I hired something similar down in NZ on lake Taupo, and me and a mate had a great time for the day.

I haven’t sat down and done any hard figures (and I am not thinking of giving up the dayjob or looking to make a million!), more a case of idle thinking / wondering whether it is something that me and the wife could time wise fit around other (not presently related) business activities – the motivation is mainly cos although I appreciate that hard work would be involved (maintenance would be down to mainly me, but I do have peaks and troughs in my work flow which could accommodate and I enjoy fiddling around!) , IMHO “fiddling around” is always more preferable to sitting behind a PC 24/7!!, albeit that the money would be reasonable for the wife rather than for me. Plus I figure starting small scale could be a useful learning experience for expanding into related activities, principally I guess for “lifestyle” reasons – even if the lesson is…….don’t. Just FYI I have been messing around in boats since I was knee high, so although by no means an expert (in anything) have a fairly good idea of whats what in the Marine world although I do not have any RYA Badges, but not averse to getting some IF needed – ie I have not just got off the train from Birmingham.

My initial ball park thinking would be 5/6 boats and I would guess that if each boat got hired out for 8 weeks a year then that would be good going due to weather reasons, but even at £200 a week they would have paid for themselves after a couple of years. – .The big unknown for me at this stage would be the cost of getting them “coded” for charter and whether it can ever be cost effective to do so for a small boat. I also am assuming that there IS a reason why there is not already a flotilla of these nearby already!!

Go on folks tell me the bad news!!
 
I think you hit the nail on the head - coding a boat can be costly - so chances are you could double your intial cost for each boat just to get it to charter standard ... but I would've thought with some imaginative interior makeup and a good overhaul there could be a market for such a venture ...
 
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but I would've thought with some imaginative interior makeup and a good overhaul

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My thinking as well.

I'll put you down for 2 weeks in August then /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif
 
Hmm ... yer right! ... No .. got my own small craft to float about on! /forums/images/graemlins/laugh.gif

Just for interest - general area of proposed chartering?
 
I had only previously sailed 30+ foot boats when I decided I wanted a boat of my own. I couldn't afford anything of that size and did actually look to charter a 22 footer to see if I would like it as much. I'm not the sort of market you need to look at though since having tried, liked it and bought my own you'd be unlikely to get any repeat business from me.

Small boats aren't widely appreciated at the moment and I'm not sure if they'd appeal to enough people to make it worth your while. There are a lot of great wee cheap safe boats around though that are well able to stand the sort of treatment they might get.

My own boat (ie the sort of thing you might buy) is reasonably well equipped now for such a boat (probably dangerously ill equipped by the standards of most on here!) but would surely cost a great deal to code as Fireball says.

Having said all that it's a great idea that I'd love to see succeed.
 
Last year my Crabber was out of action, due to being damaged in transit to launch it. I wanted the insurers to hire me a replacement boat for the weeks it was out of action. I could not find a small boat to hire, in the Plymouth area. The insurers wouldn't agree to pay anyway, but I think there must be a market. Down in Mylor you can hire Drascome type day sailers etc.
Malc
 
I think you might have an idea here..nice in Plymouth for trips round to Yealm or Salcombe, or up the Tamar.

Coding is not as expensive as many think or get charged, I've coded a boat and the two items that will cost you any appreciable sum on any yacht to be coded even for cat 4 (20 miles from safe haven in good weather and daylight) are liferaft and flame proof gas detection device. Everything else is just some labour, and could be sorted easily in a week.

If you want help with the codeing let me know, especially if its in Plymouth.
 
I have thought of this similarly, especially as I own such a yacht, am reluctant to sell as I have had a lot of fun and learning on my 24ft'r .
I know a lot of people who go straight to 36ft + yachts, and firmly beleive that everybody benefits from a few years on smaller boats. Not much luxury but that doesnt matter .

Sure the idea would work in Plymouth area, mine is there out of the water right now, what a waste with the good weather we have had lately. I have always assumed that the coding would be a problem on costs.

I am interested in pursuing the idea a bit further, it should be costed out...pm me if interested.
 
I did what you are suggesting. I bought a fleet of 3 Sonatas as a going concern complete with mooring and a charter agency agreement with a local company. After 3 seasons I found I had spent £3 in fees and maintenance for every £1 I took in revenue.

I sold them off for more than I'd paid for them and in the end just about broke even. I learned a valuable lesson - I stuck with the desk job a bit longer so I could afford to go boating when and where I wanted.

If you are determined to go ahead, here are a few tips -

a) do the marketing yourself
b) get others to provide the boats - as agent, you only hand over fees agains income so no losses
c) watch your costs like a hawk. Never pay someone to do a job you can do yourself.

Look carefully into the coding rules for that size of boat. This is something that would have killed my business anyway. When I started the rule was that the boats could go 10 miles (I think) from harbour which meant coastal hops of up to 20 miles and the whole of the West Country was accessible. Later I heard that the authorities were going to interpret that as 10 miles from base, i.e. nothing more than trips round the bay.
 
IMHO what would attract me would be a day boat, such as a Drascombe.
They could be stored out of the water, and only launched as and when needed, so keeping costs down.
So for instance, I'm going to Westward Ho in early August and am renting a house with all the family. I would love to be able to pre book a couple of days using your website .
I don't want a large boat as I already have one of those at home, but a day boat for a bit of fun or fishing would be cracking...
 
Thanks all for the responses - a bit to think over.

At least no one is laughing at the initial idea.......always a good sign /forums/images/graemlins/cool.gif

I must stress that this idea came from sitting down at the harbour admiring the view thinking I would prefer to be messing around with boats at least part of the year, rather than being a firm business proposal. Certainly won't be happening this season.

Regarding the coding of the boats, I will send out a couple of PM's thanks folks. - but please do not spend a great deal of time and effort on this, 95% certain that it won't go anywhere.

I appreciate that folk are interested in the potential location...........it is no big secret, probably local to me /forums/images/graemlins/smirk.gif It is just that it would potentially be anywhere on the South Coast, depending on where the market is, so no great point in specifying anywhere. I am not anywhere near the stage of locating the corporate HQ /forums/images/graemlins/cool.gif

To try and save doing another 12 foot post I have done a few response below. Hopefully next week I will post some more after I have put my thinking cap on.
 
Snow Leopard

Nice to hear from someone who has been there and done it!

a) do the marketing yourself - <span style="color:red"> Agreed </span>

b) get others to provide the boats - as agent, you only hand over fees agains income so no losses <span style="color:red"> Interesting idea, the trade off I guess is relying on other people to make sure the vessel stays in an acceptable condition that it IS available as promised and also splitting the income /forums/images/graemlins/frown.gif , but the upside is the mainatance is not my worry (time and cost wise) with perhaps a greater range of boats available and once I have found out what vessels are popular, perhaps no reason why I can't buy some myself </span>

c) watch your costs like a hawk. <span style="color:red"> Agreed </span>

Never pay someone to do a job you can do yourself. <span style="color:red"> Agreed, but it will be a trade off in time with the "day job" </span>

Just being nosey /forums/images/graemlins/smile.gif, were you doing the job full time? How long was the season? what sort of weekage were you getting from each vessel? what were the main costs that ate your takings and was their anything that surprised you?
 
Mooring costs (and availability!) will be a major factor, it won't be viable to keep them in a Marina 24/7, perhaps viable to keep them "dotted around", however with this route positioning costs (ie time!) will be the problem to think over. Unfortunately the trailor route is probably not a goer for me - although it would have certain attractions.
 
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So for instance, I'm going to Westward Ho in early August and am renting a house with all the family. I would love to be able to pre book a couple of days using your website .
I don't want a large boat as I already have one of those at home, but a day boat for a bit of fun or fishing would be cracking...

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That's the sort of market I am thinking off and cheap enough to be easily "discretionary" spending, although of course I will still take someones money if they want to take a family of 5 on a Corribee for a month /forums/images/graemlins/tongue.gif

Drascombes? I know they do have a really solid following, but also prices that (no offence to any Drascombe owners reading!) seem disproptionate to what the vessels are. But if there was a market for them (or even a cheaper generic copy) then no reason not to look at them. Apart from the prices a Hawk 20 may also make a nice charter boat.
 
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Look at Sailing Holidays, they do it with old cheap boats.

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I tried a Google, but got a lot of hits!! I suspect you did not mean SailingHolidays.com? Have you got an area / any more info that would help me narrow the search?
 
This is pretty much what I was thinking of. Thanks for the link. And just in case anyone from Mylor is looking at this thread I am not talking about Falmouth /forums/images/graemlins/cool.gif
 
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