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Old 03-07-2010, 08:51 PM   #31 (permalink)
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Are you, as the owner of a 72', going to spend $110k on crew wages in the first year? Any successful trips with the family yet? Good charter record with repeat business?

A month by month deal seems more realistic to me, though an honest, open deal with the crew up-front should be the way to go for the long term.

Fish
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Old 03-07-2010, 09:45 PM   #32 (permalink)
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Originally Posted by Henning
If they're a couple, that's fair enough. If they do an extraordinary job for you, you can keep them from jumping ship after a year with bonuses. If not, they'll pick up a gig on another boat a bit bigger that pays a bit more and you get a new crew at the same wage.
Or if they're making a percentage of each charter and are making good charter tips, it's enough.......I had a 4 night/ 5 day charter on a yacht his size and they tipped me $2500 (split it with the mate) but was very happy with the whole outcome.
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Old 03-07-2010, 09:47 PM   #33 (permalink)
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Quote:
Originally Posted by FISHTIGUA
Are you, as the owner of a 72', going to spend $110k on crew wages in the first year? Any successful trips with the family yet? Good charter record with repeat business?

A month by month deal seems more realistic to me, though an honest, open deal with the crew up-front should be the way to go for the long term.

Fish
Typically here in the US, they're paid every two weeks or monthly or weekly whatever the percentage of that comes out to. So if they don't work out they got paid weekly, but not a lump sum of the whole year.......
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Old 03-07-2010, 09:49 PM   #34 (permalink)
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Quote:
Originally Posted by Capt J
Typically here in the US, they're paid every two weeks or monthly or weekly whatever the percentage of that comes out to. So if they don't work out they got paid weekly, but not a lump sum of the whole year.......
I pay bi-monthly.
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Old 03-07-2010, 10:22 PM   #35 (permalink)
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Originally Posted by Fortunata
I pay bi-monthly.
You pay every other month, 6 times a year? And your crew are fine with that?
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Old 03-07-2010, 11:36 PM   #36 (permalink)
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You pay every other month, 6 times a year? And your crew are fine with that?
I think he means twice a month......I wouldn't want to get paid every two months......I've been paid once a month before and was ok with that......but I'm an exception and most people want to get paid twice a month or every two weeks
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Old 03-08-2010, 12:00 AM   #37 (permalink)
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I think he means twice a month......I wouldn't want to get paid every two months......I've been paid once a month before and was ok with that......but I'm an exception and most people want to get paid twice a month or every two weeks
Heck J,

If you are paying me $75,000 a year to run a little 72' you can pay in pink toutous and baubbles as long as the Bank accepts them. Just to get paid from owners is nice bonus sometimes. The more remote the harbour, the more remote the chance of getting paid.

And yes, I've been in some very dodgy harbours and a pink toutou may be the currency of choice.
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Old 03-08-2010, 07:09 AM   #38 (permalink)
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Quote:
Originally Posted by FISHTIGUA
Are you, as the owner of a 72', going to spend $110k on crew wages in the first year? Any successful trips with the family yet? Good charter record with repeat business?

A month by month deal seems more realistic to me, though an honest, open deal with the crew up-front should be the way to go for the long term.

Fish
I am the owner of the 72 foot. I am new to this boat and having a full time crew. I can change things at any time. The idea was to charter it out to help pay expenses as opposed to not chartering it out and having a part time crew?
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Old 03-08-2010, 07:12 AM   #39 (permalink)
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Originally Posted by Seafarer
You pay every other month, 6 times a year? And your crew are fine with that?

Sorry; 24 times a year or twice a month.
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Old 03-08-2010, 07:16 AM   #40 (permalink)
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Originally Posted by FISHTIGUA
Heck J,

If you are paying me $75,000 a year to run a little 72' you can pay in pink toutous and baubbles as long as the Bank accepts them. Just to get paid from owners is nice bonus sometimes. The more remote the harbour, the more remote the chance of getting paid.

And yes, I've been in some very dodgy harbours and a pink toutou may be the currency of choice.

It mainly stays in Fort Lauderdale which is a major port for yachts.

P.S. it is not that little. It has 4 cabins, 5 heads and two crew cabins.
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Old 03-08-2010, 07:35 AM   #41 (permalink)
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Quote:
Originally Posted by Fortunata
I am the owner of the 72 foot. I am new to this boat and having a full time crew. I can change things at any time. The idea was to charter it out to help pay expenses as opposed to not chartering it out and having a part time crew?
You'll want a F/T captain in either case to know and care for your boat. With the amount of chartering I'd expect you to do with a 72 a deckhand/chef might be on an as needed basis. For charters the captain can recieve a % of the charters plus tip as a bonus. That will just be an inducement for the captain though. Don't expect him to consider that in the salary negotiations because it may only do a charter here and there.
I see you're in Ft. Lauderdale. If you intend to charter in the US there will be some other considerations that are covered pretty well in other threads. They could affect whether it pays to charter.
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Old 03-08-2010, 08:38 AM   #42 (permalink)
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Quote:
Originally Posted by Fortunata
It mainly stays in Fort Lauderdale which is a major port for yachts.

P.S. it is not that little. It has 4 cabins, 5 heads and two crew cabins.

It is a little boat, even though some respondents would have you believe a megayacht salary applies. Despite what a few Sons of Magellan would like you to believe, captains for those boats are as common as bad drivers in southern Florida. Throw a rock down 17th St in Fort Lauderdale and you will probably hit an unemployed captain.

From my take on your posts it sounds like a part timer will work just fine. Unless you have a spectacular "program" and are a marketing genius the odds of this boat having a busy charter calendar is pretty slim, despite what the broker told you.

Figure out what you want to do with the boat first. Look through the jobs wanted pages of the local yachting papers and websites, you will quickly build a list of candidates. Running a boat that size is not rocket science and 100 ton licenses are easier to get than door dents. Find a young one who wants a chance to learn the business and is grateful for the work.

Alternatively, develop a list of older more experienced captains who are interested in doing on call work while they wait for their megayacht to come in. Local brokers will be helpful at providing names for you.
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Old 03-08-2010, 09:19 AM   #43 (permalink)
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I agree with 99% of Marmot's post except for:
Quote:
Find a young one who wants a chance to learn the business and is grateful for the work.
It's amazing how much damage an inexperienced captain can do with a 72 footer. You also don't want too much tonage as their experience may not relate to small boat handling. 100GT will do you fine, and there are plenty of them in that area. Look for one on his 3rd or 4th issue (10 years plus experience). 1st or 2nd issue may have been serving drinks on a dinner boat or working on land and taking his own boat out a couple of times a year.
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Old 03-08-2010, 09:34 AM   #44 (permalink)
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It's amazing how much damage an inexperienced captain can do with a 72 footer.
About the same amount as a complacent old graybeard.


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You also don't want too much tonage as their experience may not relate to small boat handling.
When you are looking at lower level USCG licenses that doesn't really apply, these guys got their tickets by running little boats that don't have multiple mates and ABs and anyone with a 1600 ticket is going to have a lot more to offer than someone with a 100 ton. The formal training and the length of experience (hopefully) under supervision of more experienced masters counts for a lot more than number of renewals.

All an owner has to do is go for a short boat ride with a prospective candidate to know immediately if the guy knows how to drive. But driving skills should be among the least of an owner's concerns.
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Old 03-08-2010, 09:47 AM   #45 (permalink)
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Quote:
Originally Posted by FISHTIGUA
Heck J,

If you are paying me $75,000 a year to run a little 72' you can pay in pink toutous and baubbles as long as the Bank accepts them. Just to get paid from owners is nice bonus sometimes. The more remote the harbour, the more remote the chance of getting paid.

And yes, I've been in some very dodgy harbours and a pink toutou may be the currency of choice.

Mine's direct deposit....
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