In the last 15 years at Rodriquez Consulting we have served a variety of yacht charter companies and private owners who were keen on chartering their yachts. We have created a Yacht Charter Business Plan download because more often than not we are asked to help them with their business plan but often times startups can’ afford to rely entirely on our team from the start so we decided to poor in some of our knowledge into a ready made starting point. Undoubtedly the question we are asked most often is:
Is yacht charter profitable and/or is it a good business to get in? or Can investing in yacht charter be profitable in some ways?
In many industries the above questions would be rather simple to answer. However, in the yachting industry answering these questions with anything else other than “It depends..” requires us to get into a great level of details. At the very least, we need to get into the specifics of the size segment you choose, the primary geographic area and the yacht charter business model that you intend to implement.
Geography, Business Model, Size Segment of the yacht/boat/vessel
To most people Yacht Charter rates seem to be very high as an absolute per-week-value, but are they high enough when you consider the cost of the asset/s (the yacht/s) and its running costs? The latter can have a very large range as variable costs depending on how and where the vessel is managed and can make a significant difference. Ultimately, it the acquisition price (the price of the vessel) that is crucial but the variable and fix costs are the ones that can determine whether the operation (your yacht charter business) is profitable or not. If you are looking to build a business plan to charter yachts and get in the business this article will be useful, however, you might want to contact us for more ad-hoc support. Read more