Starting a boat charter system is a perfect example of mixing business with pleasure, especially if you are the captain steering the boat. You can easily earn handsomely while conducting a deep sea fishing excursion or a trip to an exotic location, however like all ventures, to for your business to succeed there are certain steps that should be taken. Right now, boat charters are big business in Australia thanks to the tourism boom in coastal cities and towns in the country. So it is the perfect time to cash in on the many business opportunities of a boat charter system.
Study the options before you – Do you want to purchase a boat outright or lease one? Your decision here might depend on your available funds, however, some sellers have attractive finance options that make a new purchase a viable choice. You can customised the repayment plans to your ability to pay based on your venture’s projected income.
You should have the boat registered with the right water authorities in your area. However license requirements will differ depending on whether you decide to stay in local waters or go into international territory. A lot also depends on the size of the boat, the maximum number of passengers that you can take on board and whether you will be the skipper of the boat. In the last case, you’ll need to be fully trained and qualified holding a commercial skipper’s licence.
Have a business plan in place – Once all these basic decisions have been taken, you have to get down to the essentials. Have an experienced consultant draw up a business plan for you. These will include ways and means to raise finances for the initial investment in the boat, returns on investment and whether your cash flow will be adequate to meet your interest liabilities or working capital requirements. A lot of these estimates will depend on the type of boat that you want – a local or deep sea fishing boat, a luxury boat or a yacht. The annual insurance premium will depend on these factors. There will also be marketing strategies that will be detailed in the plan which can help you quickly get ahead of the competition.
So comprehensive is this business plan document that it can be placed before financial institutions and lenders for sanctioning credit limits.
Get trained and experienced boat operators – If you are not going out with the boat, hire staff that are experienced in operating it. To ensure the quality do not rely on advertising in newspapers or other platforms, instead, let experts to do the job for you. If you are operating in Victoria for example, contact agencies specialising in labour hire employment in Melbourne. They have wide contacts and databases of trained job aspirants and will be able to fulfil your requirements quickly and effectively.
Have a web site set up – Any travel brochures or flyers have lots of colourful photos of exciting destinations and things to do to entice the tourist. Take the same road to market your charter system. Set up a website giving details of your charter and what the tourist can expect on his trip. It is recommended that you hire the services of a professional web design and development agency to do it for you. Have the site SEO optimised to draw in traffic from online searches.
This is just a sketchy guide to start off your boat charter system. You will surely pick up the ropes as you go along.