When I grow up I want my career to be in possession of a yacht charter companies in different places, eg. Hawaii, Flordia etc, what I need in a great school that much money, I need insurance? I would also like to buy a piece of land on Lake Lanier and put a boat rental boats and pontoons ski companies and other craft serve.C ‘is another?
Tags: Boat, chartering, help, open, please, Rental, want, Yacht
Insurance is your biggest problem
you need to be insured if someone renting your boats gets hurt or hurts someone else as well as if they sink or damage one of the boats.
they have various release forms that you make people sign before they use your equipment but these days you can almost be sued by anyone
you’ll have to look into getting permits from the city and state that you want to operate.
boats are one deal but many people hate jet ski’s and make renting them an uphill battle
it’s not impossible to make money doing this but it’s not easy
you should also look into taking some engine repair classes
You’ll need to major in Business in school. Then you’ll need to have business insurance for the “Yachts” and the business. You’ll need plenty of capital to operate the business. If you are operating a “Yacht” company, you’ll also need a Captain’s License from the USCG Maritime Academy. I don’t know what size yachts you’re planning on, but you’ll need the license in order to carry any passengers.
It is a business – a hard and not very dependable business suffering from outside influences at many levels, weather, war, economic, social, legal – etc.
The requirement after a degree in Business Studies is for capital – and a lot of it. You will need insurance at any level, this will be costed according to perceived risk – the insurance providers perception of risk, not yours. That will include their assessment of your capabilities and experience along with the historic industry claims records in your chosen business type. A lean business model may be seen as good – or it may be seen as alarming if the Insurance provider thinks it could influence maintenance and safety decisions to be delayed or ignored.
Purchasing land is a good decision – and is a more straight forward thing between you and a bank – you just have to show you can repay the loan. Prime water-front land will need big capital, without a good income history no bank will be keen these days – certainly not on any unproven individual or start-up business.
So very simply you will need two things to start with. Qualifications to run the business or the people with those qualifications and demonstrated experience, and lots of capital. You are looking at potentially millions to do all you dream of – and that is a good dream. You must be aware that somewhere in the plan you have to work in the industry and gain the skills and experience to successfully create or manage such a business, and work at a high enough level that you can save enough money to enter it in your own right.
I hope it works out for you. You should start working even at a basic level in the charter or hire industry to get a ground level view of the reality of this type of business.
Good luck.
Hi – you could start in a small way by contacting existing charter companies, whose first language is not English, and offering to advertise their services for a percentage. We did this many years ago with several French companies which put us in touch with chartering all round the world. Commission on average was 15%. Its a good idea to meet the owners and sail their boats so that you can make a judgement on the quality of their service – thats also a lot of fun! Choose good sailing areas where the exchange rate is attractive for your domestic customers. Good luck – Roger (UK)