Selecting A Charter Boat Company

Before selecting a charter boat company you must first consider what sort of charter boat and operation you wish to run. Is your interest purely commercial or do you expect to use the vessel for some personal use. So prior to looking around for a charter management company, consider the following

• What type of vessel would you want to own? This may be based on your personal interests and/or financial expectations. You may select a from sailing yacht, motor or sports cruisier, a houseboat or maybe a game boat for game fishing.
• Where would you want the boat located? If you are expecting some regular personal use of the boat, it's location and proximity to you may be important.
• What are your financial expectations? How often do you expect the boat to be chartered? Some areas in Australia may be more lucrative than others depending on the vessels use and seasonal factors.

Once you have answered the above questions you can begin contacting Charter Boat Management Companies within the area you have chosen, that operate the type of charter that appeals to you. These companies will be able to discuss any opportunities they may have for potential investors. These opportunities will normally fall into two categories.

• To take over ownership of a vessel that is already operating within their fleet.
• To purchase a new or used charter boat that the company feels that there is a requirement for in their fleet.

Assessing a charter boat company

When you have created a shortlist of companies that have presented opportunities to you, there are a large number of considerations to take into account, before signing any agreements, a few of which are

• What type of agreement will the boat operate under? A leasing or management agreement.
• What history does the operator have and how long have they been operating in that particular area.
• What marketing strategies do they employ, and what is the expected booking or occupancy rate?
• What fees and charges are under the agreement and what is the percentage of income the operator takes?
• What do other boat owners say that use the same company, have you met any?
• From an historical and financial perspective, how have similar vessels in the fleet performed? Or if you are taking over an existing boat, how has that performed financially?
• How well do you get along with the operator? You are about to enter a long term agreement with them so it is important the relationship is trusting and you have a mutual respect for each other.

These are just a few of the considerations that should be taken into account when selecting a charter boat operator. As with most investments the application of commonsense combined with solid research should optimise your chances of success.

Which boat loan option is right for you?

Deciding on the right Boat finance option for your situation can sometimes be confusing, Commercial Hire Purchase, Chattel Mortgage, Boat Lease are just a few of the boat financing options, Platinum Direct Finance can assist with your decision making and make the process simple and easy. Use our "Which boat loan product is right for you?" today!

Why use Platinum Direct Finance?

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