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Starting a charter business

Old 02-24-2020, 10:41 AM
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Default Starting a charter business

This is a very preliminary post However I would like to buy a center consul in the 27 to 30 foot range in the next few years and charter it out while I am not using it. The plan would be to hire a captain to run the charters. Again this is very preliminary but just wanted some input from some of you who may have gone down this road.

What is the going rate for captains right now?
Old 02-24-2020, 12:16 PM
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Search this forum and you’ll find a dozen or more threads about this same thing.
Old 02-24-2020, 12:18 PM
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I pay 25 an hour plus he keeps the tip. My charters are 4 hours and are stay in the bay family type fishing no hard core fishing by any means. He runs 2 trips back to back makes 350-400 bucks a day with tip.
Old 02-24-2020, 12:41 PM
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Originally Posted by Rapchizzle View Post
Search this forum and you’ll find a dozen or more threads about this same thing.
dang, you weren’t lying lol. Thx
Old 02-24-2020, 12:49 PM
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Advice I've given many times on the subject... How do you make a small fortune in the charter business? Start with a BIG one!
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Old 02-24-2020, 01:29 PM
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You have to have a team of great personable, reliable captains and a fleet of boats to really kill it. Look at 2Conchs or Dream catcher in Florida, those operations are legit! I could book multiple boats 2 trips a day if I had the boats and captains. The bay trips are great all summer.
Old 02-24-2020, 02:05 PM
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Originally Posted by rdiesel01 View Post
Advice I've given many times on the subject... How do you make a small fortune in the charter business? Start with a BIG one!
And make sure you're wife has, and keeps, a very good job to support your habit!
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Old 02-24-2020, 02:15 PM
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Originally Posted by bills106 View Post
And make sure you're wife has, and keeps, a very good job to support your habit!
the wife and I both have good jobs. I have no interest in running the boat myself. I’d like to keep it running except the days I want to use it
Old 02-24-2020, 04:44 PM
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Originally Posted by Bwhite35 View Post
the wife and I both have good jobs. I have no interest in running the boat myself. I’d like to keep it running except the days I want to use it
Wouldn't it make a lot more sense to just charter a boat rather than running a charter?

Fishing charters are not exactly big moneymakers and there is a lot of work and headache managing people.

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Old 02-24-2020, 04:59 PM
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Originally Posted by Shake N Bake Sportfishing (formerly Colbachlaw) View Post
Wouldn't it make a lot more sense to just charter a boat rather than running a charter?

Fishing charters are not exactly big moneymakers and there is a lot of work and headache managing people.
i want to own a boat again at some point. I go to the coast a good bit so I would use it
Old 02-24-2020, 05:12 PM
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Originally Posted by Bwhite35 View Post
i want to own a boat again at some point. I go to the coast a good bit so I would use it
And that would pizz your Captain off when he has charters set and cannot use the boat
Old 02-24-2020, 05:40 PM
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Start with this premise.

Take your projected sales and divide by 2.
Then take all expenses and multiply by 2.

That should give a realistic number.

Dreamers get creamed in this business. I’ve seen it for 35 years. I’m not saying you are but be honest with yourself.

If you have money to burn then hell enjoy yourself!
Old 02-24-2020, 06:10 PM
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Originally Posted by Jack Hexter View Post
And that would pizz your Captain off when he has charters set and cannot use the boat
i wouldn’t use it if charters were set
Old 02-24-2020, 07:54 PM
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I have done what you are thinking of. But I bought a bigger boat that was already working with an existing captain. Over the years I did that I made a decent profit and then reinvested it in new engines. Overall I was up just a little over a 5 year period and learned a lot about boating and fishing. Hourly rate for the hours i put into it wouldn't have been too good, but I enjoyed it. I consider myself lucky that it worked so well. The concept is risky and you need to have some spare money to deal quickly with maintenance issues. It is harder than you think. It is also hard to grab your boat off the captain who makes a living from it unless it is last minute when you know there isnt a booking. I used to hire my boat and crew to myself and pay them to take me and my friends fishing. I used that time to learn, and I learned a lot. Today I can run my own charters very successfully on the back of what I learned.
Old 02-25-2020, 04:15 AM
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If you want to make a million dollars in the absentee charter business.... START WITH 2 MILLION...... ICM
Old 02-25-2020, 04:34 AM
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Originally Posted by Bwhite35 View Post
i wouldn’t use it if charters were set

Gonna be hard to plan on that. I get calls to run the day before the trip plenty.

I also own both my boats and it's hard enough to make money and I am only paying myself.

Can't imagine having to shell out coin to pay a Captain in a small bay boat type operation and to come away with any profit. After expenses my profit is about what your gonna have to pay a Captain to run your boat.

Not to mention how your boat may get treated by the hired help. I won't even get into the liability of such a venture.
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Old 02-25-2020, 07:08 AM
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Let's be honest. He's not trying to turn a profit or feed a family, he is just trying to mitigate the costs of his hobby by disguising it at a business.

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