sailing business

[dlewis812]

just thought i'd throw this out there.. realize obsession with sailing might be that it's a hobby and might not be if something "had" to do.

however thinking of business opportunities involving sailing. there's various products that could be developed or chartering etc of course. I have looked into the fractional sailing franchises like windpath/sailtime. just curious.

 

[Banooma]

D - What exactly are you throwing out? Are you asking opinions of fractional ownerships? Are you looking for business partners? What did you find when you looked into it?

 

[dlewis812]

while sitting in the office having one of those moments when you think of the saying "love what you do"! wanted to hear any good/bad ideas others might have experienced.

(from my research) with the fractional sailing seems very little return per boat so would depend on how large you could build your fleet. obviously would take some time and a lot of factors involved; but that's like any business.

 

[Ross]

Write a business plan.

 

[tommays]

In your neck of the woods the Manhattan Sailing Club has gotten it right

 

[Banooma]

Chartering

I've had those same moments over chartering, as well. There are a lot of factors outside of the owner's control, such as the economy and weather, and how well boats are treated. Choosing a location that is convenient to the fractional owners you're trying to lure can be a challenge, too. I've always owned a sailboat, so I have no idea what it would be like to be a 1/4 owner of one. Any time the weather is nice, the first thing I think of is what time I can get to the boat, and how much sailing I can do. If I were a 1/4 owner, especially here in the northeast, I might not get enough sailing to keep an interest, or I might instead decide that spending the money on full ownership is the only way to be happy. If I am a very picky 1/4 owner, I might be very dissatisfied with the condition of the boat, while if I'm just happy to be on something that floats, I might not care that the repair to the bimini looks bad, the halyards are worn, or that there's a funny smell coming from the bilge. What if one share owner likes to do a lot of motoring and burns a lot of fuel, while another hardly uses the engine at all? What if one constantly runs down the battery by running the fridge and his laptop while another never even turns on navigation instruments? What if one never sails in winds over 10 kt, and another pushes the boat through 30 kt winds? In some cases, a fractional owner may not feel he's paying for someone else's abuse, and not getting his fair share. I have no answers, but those are some of the questions I might have.

 

[dlewis812]

i've had nothing but good experiences sailing on the fractional boats. they are generally new boats and the members seem to all take care in the upkeep as if their own. always left clean and there is a system to log any problems/issues which are then taken promptly taken care of by the base owner. also with the scheduling program you can get quite a few days out.

problem is it's very expensive especially considering if you're in a location which is not year around. that's why i bought my own boat(s) instead (definitely not new!!). however i would have been more than happy to sail on an old boat like mine if the cost was substantially less. wondering if more people would join up for fractional with that situation.

 

[dlewis812]

In your neck of the woods the Manhattan Sailing Club has gotten it right

yes, took my basic keelboat and coastal with them.

 

[OldCat]

Business? Depression?

Is any form of boating business a good place to be in a depression - I don't care what they call it, that is what this is. The local sailboat shop manager told me that there were many parts that he could not get anymore, not enough demand to make them. I have stuff on backorder at two chandlerys - not enough demand to justify a production run for the manufacturers.

I work in the oil industry - thanks to BPs screwup, and Europe's financial problems, I worry a bit about my job. I am looking at an order for some optional stuff for my boat - I can't decide whether to place the order.

Unless something breaks, I am not sure how many boat units I will spend at the moment. Is boating a reasonable business when so many are out of a job or worried about their jobs? When bonuses and similar extra income are in short supply? I am not sure that the economy has turned enough yet to make boating a decent business yet.

OC

 

[PrincessoftheLake]

Re: Business? Depression?

While there is a certain amount of truth to do what you love/love what you do I am not sure I would want to make my hobby my business because then it is no longer a hobby-to my way of thinkiing.
My boat is a charter boat and the people that own the charter company are sailors-well, they used to be. The charter business is so busy during the season of May-October that even though they are in one of the most beautiful sailing places in the world, they don't have time to sail. That is not for me.

 

[Bill Roosa]

Boating and sail boating

Don't forget to look at the commercial side of boating. Crabbing, fishing...... mostly powerboats but $$ is $$.

 

[Don12364]

They Say

They say the best way to make a small fortune out of sailing is to start with a big one!

Sorry to be a cynic but I have observed very many sailing related business spring up, blossom then die as soon as the climate turns cold.
The most long lived ones are where the family are involved and they do nothing else. They have to succeed and usually hang in there long after companies with 'shareholders' have gone bust. As a result, as soon as the sun comes, out they are there already and go on from where they left off.

Is this you?

 

[Tim R.]

We almost purchased a marina/charter business this year but after months of due diligence and trying to make the numbers work we finally gave up by low-balling the owner by 500,000. He didn't reject the offer which scared me even more. Luckily he did not accept it either. The only way the business works is if my wife and I worked 7 days a week at 14-16 hours per day for the next 15-20 years. Assuming the economy doesn't get any worse. No thanks. Our current plan is much better.

Although I will keep on developing my marine services business until it does not make money any more. Right now spending my time networking with as many boaters as possible.

Gotta go. Racing tonight.

 

[Hermit Scott]

Microsoft was started in a recession. My company runrocket was just started in the middle of this recession. Just because you are interested in starting a business in the recreational sector during a recession does not make it a bad idea. People are still spending money on their boats. I bet the people telling you that this is a bad idea have recently spent money on their boat.
As Ross said write a business plan. Get obsessed with finding a clever way to do whatever it is you are trying to do. There is something out there that people haven't thought of yet. When you figure it out, do it. If it was easy we'd all have sailboat businesses. It's supposed to be hard to get started, that is part of what makes it worth it.

 

[OldCat]

Economy and Boating

Microsoft was started in a recession.

Microsoft was started at a time when the computer industry was very high growth - recession or not. Sailing is unlikely to be a high growth market - that may be good for sailors who want secluded places to sail or easy access to a marina - but it is not good news for those in the business.

The marina where I keep my boat is on a pretty and desirable mountain foothill lake, it used to have a waiting list for slips, now they still have empty slips in June, and a lot fewer boats on moorings. The owners are very service oriented - for example, they walk the docks and check everyone's lines when a wind storm comes in - they will even add a line if needed. It is not for lack of customer service that there are empty slips here - its the :cry: economy. The only local sailboat dealer of note also went bk this year and was taken over by its original owners - again - its the :cry: economy.

I am not saying a sailing business can't be done - just that the risks are a lot greater today for those getting started.

OC

 

[Ross]

I have been in the home repair business for 31 years and during that time watched dozens of my competitors drop out because they didn't control their overhead expense and they didn't have a plan.
You need first of all to find a niche. Just like the horse drawn carriage rides in NYC. What do those carriage companies do that makes them so attractive to tourists?

A small boat rental concession on a good fishing lake. Or a fleet of daysailers either captained or not. In any case plan to work from first light until dark. At first light you are renting the boats out and and at the end of the day checking the boats back in.
You will have to save enough money during the active season to carry you through the lean months.

 

[dthompsonusa]

Do what you love and have a passion for. Write your vision for the perfect job and then start looking for opportunities that match it, you might be surprised at where you land. I did this 2 years ago when I left my last job. I have the same passion for sailing and wanted to get in the industry and did. I have been running a software company specifically focused on the recreational marine industry. While it is not an easy economy there are still people making money in it. The change has brought opportunity. As for the fractional idea I suggest talking to existing owners of fractionals and boat clubs. When I did this I found that people who like fractionals and boat blubs are not boat owners. You become an owner for very different reasons than someone who likes the share ownership model. If after this research you think you have a unique idea, then write the business plan and go for it!

Good Luck.

 

[Joe]

while sitting in the office having one of those moments when you think of the saying "love what you do"! wanted to hear any good/bad ideas others might have experienced.

Well.... this may seem insensitive.. but the idea is to follow your dream or passion and the making a living part will fall into place somehow... that's the soul of it, so they say. Anyhow, if you approach it through "research" you're basically looking for a job, not following a dream.. and it will always be a job.

In other words, if you have to ask others if it's okay, or figure out where you can make the money... then you're not doing it from the altruistic sense that may have inspired you. I don't think you can plan any of this... I think you just do it. You do what ever you can to sail, work on boats, work on other people's boats, organize cruises.. etc. you just do it and the plan will become apparent... and maybe the plan will not be what makes you happy... maybe it's just the doing it and surviving that will provide happiness.

I know a couple of boat salesmen who love boating but are struggling to make ends meet. Both these guys have been sailing, racing and working around boats their whole lives. One works parttime to supplement his boat sales activity... and seems happy. The other is fully committed but has had two heart attacks... but in his soul he is a salesman, a yacht salesman, and that's his identity... his dad was a yacht broker, you see. Anyway, both are so dedicated they do it because they love it..... is that what you want? If you can be passionate and totally committed you won't have to ask anyone's opinion on what you should do with your life.

Ask yourself, why does a musician play? Why does a writer write? Why does Josh Slocum decided to sail around the world alone?......... because they are compelled. They can NOT do those things, just as we cannot breathe. Do you have something in your life like that? Is it sailing... then you should be thinking of what you can do to sail... it may be as obvious as crewing on a large yacht, or getting a teaching certificate from ASA.... you see many Aussies living their dream that way.... They don't ask, how they can make the best living in the sailing world. They ask, how can I sail more, i.e. get more time on the water.... the making a living part will evolve out of their experience and the friends and associates they make along the way.

Good luck....

 

[fifedog]

My Mrs. was contemplating starting a little sideline business...cleaning boat interiors. She doesn't mind getting down and dirty, and gets a lot of satisfaction making things sparkle.

So, is there a market for that kind of service? Kinda like MERRY MERMAIDS...

 

[Hermit Scott]

Well.... this may seem insensitive.. but the idea is to follow your dream or passion and the making a living part will fall into place somehow... that's the soul of it, so they say. Anyhow, if you approach it through "research" you're basically looking for a job, not following a dream.. and it will always be a job.

In other words, if you have to ask others if it's okay, or figure out where you can make the money... then you're not doing it from the altruistic sense that may have inspired you. I don't think you can plan any of this...




Good luck....

Even if you REALLY like working on boats, I bet you like eating too. So please make a plan. I just went 6 months with no income from my business, try that with out a plan.
Before I started doing what I do, I read 10 or 15 books on business, what kind of business to do, Robert Kiyosaki and Think and Grow Rich type books. There is no shame in asking. Only a fool or someone with incredible passion to the point they don't care about eating would not ask before doing something. I didn't have a person to ask but I had many alive and dead authors to consult their wisdom. If you try to follow your dream with out a plan, welcome to the world of Ramen Noodles and driving with no insurance.

fifedog-that is a great idea for your wife. Do you live near a marina? Personally I would think of a clever way to gorilla advertise to get her name out there. Also I would immediately guilt my closest friends into employing her.