Dreams of Wealth and Waves – 6 Things to Ask Yourself When Buying a Charter Boat

Dreams of Wealth and Waves 6 Things to Ask Yourself

Do you seem to spend more of your time out on the water than you do on dry land?
Is the open sea, with its salt seasoned winds and wanderlust-worthy waves always calling your name? If you’re already living and breathing this lifestyle, then you should definitely consider a charter boat for sale. It will make much more sense in the long run. However, there are a few things you should ask yourself before you take the plunge.

1.Will I use the charter boat enough?

Buying a charter boat is the non-traditional way of owning a boat. It involves a charter management contract that is usually 4-6 years in duration with the option of owning the boat at the end of that period. If you use your boat a lot to charter (at the very least 3 weeks a year) this will make the process far less expensive. It will also make the endeavor worth your while. This is how you will get the most bang for your buck (and, to also get enough leisure time) in order to legitimate your decision.

2. Does the math add up?

When you’re buying a charter boat it’s not just about splendid sea voyages, tropical shindigs and an endless flow of pina coladas. Sure, the possibility to visit exotic islands is very real and ripe for the taking, but, it’s as much about business acumen as it is about fantastic expeditions and leisure cruising. You’ll want to do the math, eg. work out your project profit and loss estimates, return on investment and, of course, the sum of all associated costs (just as a start).

3. Are you ready to go?

Obviously, you’ll need to have your relevant licenses, certificates and all regulatory requirements current and ready to go before you even think about chartering a boat. Requirements differ according to various locations around the globe, as far down as the state or regional level. If you want to get really serious you can check out an international yacht training school. At the bare minimum, contact your local government body to find out exactly what you need to sort out before you hit the water as a charter boat owner.

4. What type of vessel is for you?

One of the positive things about buying a charter boat is that you do get to experience a range of crafts as part of the contract process. This means you get to really find out what works for you. Perhaps you’ll want more space, or maybe it will depend on where you plan to travel to, but finding the right boat for you is all about shopping around. To start your research browse listings and attend a bunch of boat shows. From there you’ll start to get a good feel for the market.

5. Have I done all my checks and balances?

You’ll need to contact a broker and look into your financials before you make a sea change. Everything will need to be 100 percent ship-shape. You’ll want to conduct the necessary trials and inspections (or, make sure that they have been completed thoroughly by your broker). Legalities are so important, especially when you have a crew to look after. When it comes to buying a charter boat it’s all about planning, paperwork and paying attention to the particulars.

6. Where do I want to go?

After you’ve fulfilled all those rather dreary (yet necessary) elements in preparing yourself to buy a charter boat, the only thing left to consider is where you want to go! Obviously, looking into the holiday hotspots in your corner of the globe will probably make much more sense from a business standpoint. However, the sky (or, in this case, the sea) really is the limit when it comes to where you want to base your charter tours. Perhaps it’s a case of your dream destination. Is the Caribbean beckoning?

Sailing Away

Buying a charter boat operator is possibly one of the most exciting, intrepid and truly most fabulous of things. The only thing in life that can’t be traded or sold are the moments and friendships that you come to treasure beyond all else. So, while it may seem like you are buying a boat, in actual fact you are securing much more than this.

Becoming a charter boat operator is about making memories to last a lifetime. We hope that we have set you on your way to making your sun soaked and sea sprinkled dreams a reality.

About the author

Charlotte is an urban New Yorker who has lived in London, Paris & Morocco. She has an MBA in Management and Economics of Luxury Brands and Fashion and her BFA from the New School. She calls herself the dyslexic writer living between London & Paris. Digital Fashion & Lifestyle Architect ?:ChaChaNyc007