Planning a charter business

[Thor_A]

Hi all,

Well, while relatively inexperienced in sailing, I have decided to try to escape the rat race known as life with my girlfriend, and decided to become a RYA YachtMaster and then try to develop a buisness over the next few years were we will be running a boat in crewed charter/private cruises (were we will be the crew) in the med (Greece, Italy, Croatia). The basic plan is to offer excellent service will not ripping people off. I hate being ripped off myself, and thus would not do it to anyone else...I might (rightly so) be classified as a complete nut, but you never win without trying..
Anyways, enough banter for now. Basically, what I am looking for is any information regarding the costs of running a 50-60ft sail boat in the med as a charter (i.e. maintenance costs, mooring, insurance etc.). I have tried to look around the net, but so far have failed to come up with anything useful.
Any help offered by members here would be greatly appreciated, or maybe you know someone that would be able to help me?

In advance, thank you very much for all your help.

Warmest regards,

Thor

[OLYMPICYACHTS]

Insurance would be about 2% on the value
Mooring fees: depends on the marina, but a rough estimate in a moderate marina for the med is about $500 per month
Maintenance: for a new yacht or good condition yacht if you do the work, I would say at least $2000-3000 a year for maintenance expenses.

Catamaran is the yacht to go in the Med these days,

As a first step i would try to work for couple years and then buy your own yacht.

Ask also sailmaster25 he is the Oracle in this Chartering message board (lol)


Good luck in your new venture

[sailmaster25]

Why thank you 9999 or should it be 666 ?
Not sure where you are getting your numbers from but some of them need to be revised.
Insurance :
We run a 55 ft ketch and have insurance from Pantenieus, full coverage soup to nuts plus a liability coverage to 5 million euro injury or death. Cost per year 3000 euro

Mooring fees :
Not a bad guess but down this neck of the woods a little more expensive 600- 750 a month euro.

Maintenance:
Here is where you come unstuck, given the annual haul out cost and bottom painting for a 55 footer plus parking fee on the hard and may be you may get away with 2000-3000 euro for a 4 month stay out of the water. Really by the time you upgrade things repair stuff and change things your winter maintenance bill can easyily reach 7000+ euro. Do''nt forget the gentleman wants to offer a top notch service and needs all those nice things, linens,plates, toys, etc its all about service and being reliable....

Foriegn flag or national flag...
Never thought about this did you ? Run an english flag charter yacht and you have to under go MCA charter construction requirements. They are VERY VERY TOUGH, things like water tight bulk heads, gunwhales that can not be abouve such a hieght, pumps must be certain size etc etc. you know who the english love to be over cautious about every thing. Plus do''nt come down to greece and charter with a foriegn flag, you will get arrested or worse get your yacht impounded. Only greek flag yachts can offically charter here in greece, oh we do get a few foriegners trying it on now and again, but they are easyily spotted and then the port police pay a visit, next thing clients and skipper are vacacating greek waters.
You can charter here in greece but first you must set up a greek company and run the yacht though it, thats how you get your greek flag...

9999 did have some good advice, sail and work for some one else first, jumping in to this with no experience will only get you into trouble and loose any money you invest, I know its a dream but its a shark eat novice world out here, and the market place and boat yards are full of well meaning individuals and left over charter yachts...

Good luck in your quest
Sailmaster25

[tranquill]

Why not try the Greek Embassy and see if they can help you with some of the formalities.

Also, don''t forget to add in to your cashflow some costs for advertising/marketing and work your turnover to how many weeks for break even.

I know nothing about the yacht charter business but my guess is that if you are a UK citizen then the Greek authorities must allow you the same chances that they give to a Greek national as any additional barriers (technical or otherwise) would contravene the old article 30 of EU Law with regard to restraint to trade.

Having said all that I''d take advice from sailmaster as to the local climate as he seems to be the man to speak to.

It''s a great thought though. Leave the rat race and operate a charter boat in Greece - sounds like me.

[Agent Nina]

who are you sailmaster? 'cause if you've worked in Kalamaki... I know you!