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How can a charter yacht be considered successful?

Discussion in 'Yacht Captains' started by VikHatBer, Nov 17, 2008.

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  1. VikHatBer, Nov 17, 2008
    #1
    VikHatBer

    VikHatBer New Member

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    How many weeks does a motoryacht have to be chartered to be considered successful? I am talking about the 100'-110' Browards and other similar motoryachts of 1980's and 1990's vintage that always seem to be charter boats in South Florida and the Bahamas. Just how many weeks of charter out of the year is average for these boats? How any weeks before a charter boat is considered successful/lucrative/profitable?

    Is there a "Gold Standard" ?
  2. AMG, Nov 17, 2008
    #2
    AMG

    AMG YF Moderator

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    A good charter yacht use to have 10 to 12 weeks per season, meaning 20-24 weeks per year if it is moving between the hot spots...
  3. K1W1, Nov 17, 2008
    #3
    K1W1

    K1W1 Senior Member

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    Hi,

    The last full on charter boat I worked on used to need 16 weeks a year to cover it's costs. We did Med and Carib and achieved this regularly.
  4. Capt J, Nov 17, 2008
    #4
    Capt J

    Capt J Senior Member

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    I've heard it usually takes 12 weeks a year to break even. Successful depends on what the owner of the yacht is looking for. I know some owners that only want 6 or 12 weeks a year to basically pay for the yachts expenses and they use the yacht regularly themselves.......Most of these older Browards and stuff you see chartered are to supplement the owner's expenses and they aren't looking to make a profit on it as a business would.
  5. VikHatBer, Nov 18, 2008
    #5
    VikHatBer

    VikHatBer New Member

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    Say I wanted to make a "business" out of a 90'-100' Broward or Burger in the Bahamas/South Florida. I want to use the yacht for a month out of the year.

    Fill in the steps that I would need to take upon purchasing a motoryacht in order to get the wheels rolling. ( I know the economy is in shambles, but what were the steps in say, 2004)

    1)

    2)

    3)

    Etc.
  6. Capt J, Nov 18, 2008
    #6
    Capt J

    Capt J Senior Member

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    1) Buy a boat that has a good charter layout, think seperated crew quarters from the rest of the boat, seperated galley, plenty of freezer space....etc....The Browards with the "country kitchen" are usually laid out well for this...... A boat that has flat screens in every stateroom, good area's for entertaining
    2) have all of the proper toys on board to attract charters.....tender, snorkling equipment, fishing equipment, possibly kayaks...... waverunners tend to be more trouble then they're worth
    3) a Good crew that is good with guests of all types and shapes....... Your crew will make or break your charter business. Pay them well and don't overwork them (too many back to back charters).
    4) A good charter program come up with a realistic schedule, and don't over charter- the crew needs time to get the boat ready between charters, and a good charter broker. I would think 25 weeks of charters would be about MAX.
  7. VikHatBer, Nov 18, 2008
    #7
    VikHatBer

    VikHatBer New Member

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    I have researched some yacht brokerage companies off of 17th st in Ft. Liquordale. How hard would it be to achieve 20 weeks? I don't know about the current market, but I'm sure in todays market it would be hard.

    I know for a fact that fishing charters in the keys are D-E-A-D. I wonder if this means the luxury charter industry is also on the rocks. I don't know, most who would pay $25,000/week + expenses might be above the current 'meltdown'...
  8. K1W1, Nov 18, 2008
    #8
    K1W1

    K1W1 Senior Member

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    Hi,

    I am told that there is a big slowdown in charters for boats that normally command 3 or 4 times your weekly figure a day so don't think the small boat charter market is going to be very buoyant in the near future.

    A number of the bigger boats have stayed in the Med this year owing to the extreme costs of getting to the Carib without the guaranteed income from chartering to cover some or all of it.