Hi! Thanks for the question.
I have found the following articles which provide tips or advice on
establishing a yacht charter business. I have provided some snippets
about the article to give you an idea on what it tackles about this
industry.
First let us have a glimpse of the industry through a report in 1999
wherein page 9 mentions that the yacht charter business is doing very
well. You would need Adobe Acrobat Reader to read the report. If you
haven’t had this installed on your computer please download it at
(http://www.adobe.com/products/acrobat/readstep2.html).
“The Yacht Charter business is also very hot. A few firms own a huge
number of these craft. First Choice Holidays Plc. (UK) has about 1050
yachts and The Moorings has 770.”
U.S. LARGE VESSEL & SHIP POPULATIONS
http://www.virtualpet.com/pe/papers/vessels.pdf
The Dockwalk website provides great resources and tips in establishing
a yacht charter business.
“What yacht should I be considering in order to be a success in the
charter business?” If the objective is to get a yacht that will in
fact, produce volume activity, the factors or characteristics of
virtually all successful charter yachts should be recognized. After
all, an owner who is successful with a charter yacht will most often
want to “move up” in size and pedigree simply because the larger the
yacht, the greater the charter fee AND the greater the number of weeks
that can be expected.”
The Mathematics of Charter Yachts
http://www.dockwalk.com/issues/2001/june/charter2.shtml
“I often talk of the aforementioned “success formula” or, “equation’
and upon examination, we can discover and note certain constants which
most, if not all charter yachts contain. For purposes of this
presentation, I will restrict my comments to the physical
characteristics of the yacht that are all-important and reserve
discussion about charter marketing, crew service, and the owner’s
attitude about chartering for future articles.”
THE CHARTER YACHT: EQUATION FOR SUCCESS
http://www.dockwalk.com/issues/2001/july/charter2.shtml
“The uninformed might argue that with the perfect product in place, we
can assume great charter success. Have we arrived? The answer is a
resounding “NO!” One can invest the capital and one can have the
finest yacht built at his disposal, and yet fail miserably in the
charter market. Most often the reason for falling short of income
expectations is CREW. Either the owner has unwittingly retained
inappropriate crew or the crew complement has been unable to gel and
failed to perform as a team despite how impressive the individual
skills, training, and experience might be.”
The Crew As a Catalyst
http://www.dockwalk.com/issues/2001/august/charter2.shtml
The next two articles deal with the marketing and government
compliance issues of a yacht charting business.
Marketing the Charter Yacht
http://www.dockwalk.com/issues/2001/september/charter2.shtml
Compliance and Certification.
A Broad Overview to Consider.
By Steward Hutcheson
http://www.dockwalk.com/issues/2002/april/certification1.shtml
For more on this valuable website for yacht charting enthusiasts and
entrepreneurs go to the Dockwalk website.
http://www.dockwalk.com
Sometimes it is also helpful to get advice from small and large
business owners as well. In the yacht charting industry their insights
still count.
“Richard Hamilton (operator) likens the yacht charter business to
running a hotel and car hire business in one. Each boat is equipped
with linen, crockery, cutlery, dinghies, sun awnings, CD player,
electric fridge, two showers, and a gas barbecue.”
Testing the water
http://www.myob.com.au/support/infocus/success_stories/ausail_pittwater.shtml
The yacht charting industry as well as other marine tour businesses
could get a few good insights from this webpage which provides some
market opportunities for marine tourism.
The following tips were mentioned in the article:
1. Revival of boating holidays
2. Short break packaging
3. Boat hiring
4. Boat ownership
5. Demand for "experience" or a demand for training in yachting
skills.
You could read all about them on “What is sailing tourism?”
http://www.scotexchange.net/KnowYourMarket/Niche/sailing1.asp
In this article about Yacht Charter’s dining experience from the
Detroit News could give you an idea on value-added services you could
provide your future clients.
Yacht rounds out food service firm
http://detnews.com/2000/business/0006/13/b02-73821.htm
This story meanwhile, chronicles an entrepreneur in Holland who
establishes a Yacht Charter venture.
BENETTI - ENTER PAOLO VITELLI
http://www.boatsyachtsmarinas.com/html/benetti2.html
Greece has been a popular market among yacht charter businesses. This
article provides some idea about the Greece yacht industry.
“The country has been a top yacht charter destination for the past 20
years. Charter is big business, with a clientele from all over the
world. There are estimated to be around 6,000 charter vessels in Greek
waters. VAT exempt, most are bare boats based in Athens, Corfu or
Rhodes. By law, all are Greek-flagged.”
GREECE Market Overview
http://www.ibinews.com/ibinews/mkt_info/country_reports/mkt_info_greece.htm
The next article could be of interest to you since it provides a tax
judgment regarding a yacht charter business.
“The Wolfs acquired a yacht in 1981, hired a captain, displayed the
boat to boat brokers, and informed a travel agency of the boats
availability. They were successful in renting the boat during the
summer of 1981, earning $7,000, but they also sustained substantial
losses, which they claimed as business expense deductions, carrying
part of the loss back to 1979.
The IRS disallowed the loss deductions for lack of profit motive. Wolf
petitioned the Tax Court. The Tax Court concluded that she and Morris
had entered into the chartering business for personal, rather than
business reasons.”
Deductions Not Allowed for Yacht Charter
http://www.ehmkecpa.com/YachtCharter.html
Search terms used:
“yacht charter” industry market share business
I hope these links would help you in your research. Before rating this
answer, please ask for a clarification if you have a question or if
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Answers and good luck to your business pursuits!
Regards,
Easterangel-ga |
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