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post #10 of Old 02-25-2010
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Chartering wows

Wow...sounds horrible. That's the one thing that bugs me about chartering. It's not an inexpensive vacation but yet the service is the hotel equivelant of a Red Roof Inn versus the Westin. And one more thing before I get into this,,,,,it's about time the BVI's invested in some damn pumping stations!! I'm tired of the "harbour pumpers" dumping in my swimming pool and having to dinghy my kids ashore at 6 am for their morning potty break !

That said, I think the problem is the business model. On the surface it looks to me like charter companies are begging for owners and promise them the world (including maintenance, dock fee's, positive revenue stream and more) to get the business. I think they work off a 20% commission so if you look at the supply chain and all the services they have to provide for an average gross commission of roughly $35K annually (12 weeks a year are allocated to the owners which means no revenue ), after franchise fee's (?), salaries, dock fee's, maintenance to a charter boat (yikes) and G&A you can easily see how this business is tight and why you're better off going with a larger company who can extract economies of scale and spread the costs over a larger fleet. We rent houses every summer in the Outer Banks and I've been under contract on a couple of homes and talked to various rental companies. Bottom line, if you have a nice house that's well maintained you can do well with Twiddy (Moorings of the Outer Banks). If you don't mind a run down house with old carpet and mattresses full of stains, then you know which companies to go to to rent them. In most cases, you do get what you pay for .
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