How to Start a Yacht Charter Business

Step-by-Step Guide

1. 1

   Step 1: Create a business plan that lays out your ultimate goal for your yacht charter business.

   You then need to determine how you plan on reaching your goal.
   
   Your business plan will also answer questions, such as the size of yacht you plan on managing, the destinations you wish to charter and the type and size of clientele groups you want to accommodate.
2. 2

   Step 2: Design 1 or 2 yacht chartering packages that you would like to offer your clients.

   You will need to decide if you will be staying in local waters or venturing into international jurisdictions.
   
   Decide also whether you will be providing complimentary food and beverages. , Note that chartering a yacht will be less expensive, plus it will afford you a large selection of yachts to choose from. , Not only does the person sailing the boat have to have a pilot's license, but you have to secure a license for commercial use of your yacht.
   
   You should also learn about licensing for each water jurisdiction you plan on navigating to. , Research coverage offered for property damage, personal injury and especially safety accommodations.
   
   This is one of the most important steps when it comes to starting a yacht chartering business.
   
   Meet with your insurance broker and make sure that you are fully covered in all capacities before accepting your first chartering job. , Not only will you need to purchase or charter a yacht, but you have other set-up and ongoing expenses you need to cover.
   
   You will have office expenses to take care of and bills to pay.
   
   You may also have a staff to pay.
   
   Opt for a line of credit so that you can keep your business running until it begins to profit. , Depending on your finances, you can advertise in trade and vacation publications or on television.
   
   You could also print full color brochures that your customers can pass on to their friends. , Fill it with photos of yacht trips to entice potential customers.
   
   You can take advantage of templates offered by hosting companies if you don't have much web design experience.
   
   Another option would be to commission a web designer.
3. 3

   Step 3: Decide whether you will be buying a luxury yacht or chartering one.

4. 4

   Step 4: Understand licensing requirements for chartering a yacht.

5. 5

   Step 5: Find out what insurance coverage you need for your business.

6. 6

   Step 6: Get financing for your business if you don't have the funds readily available.

7. 7

   Step 7: Market your business within an established budget.

8. 8

   Step 8: Set up a website that boasts your yacht chartering service.

Detailed Guide

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