the cheapest way, if your bottom aint in terrible shape, is to buy a $100 gallon of paint and do it yourself. scuff the existing paint, tape up the water line and roll on as many coats as a gallon will cover.
i always do my own. never paid for it. i actually do other peoples boats for side money. just got a 27' job this morning!
if the bottom is in bad shape, scrape, sand, scrape, sand, til you have a reasonably clean/smooth bottom, then roll on the paint.
Im charging $22/ft for this 27' cobia walkaround + paint & supplies. im giving him a deal on the paint at my cost for seahawk cukote($100/gallon). it retails for around $200/gallon. so you can see it isnt cheap to have someone else do it. It will take me 2 half days to do the job, as his bottom isnt even dirty (sounds kinky!).
its really not that hard, just dirty. make sure you have the proper place to do it. you may get into trouble if you start sanding and painting in the boatyard. i have a small shop i give them a % to let me do the job. the yard is out of sight, and no one bothers us, plus i sand w a vacuum.
good luck.