Overview – the charter industry
The bareboat and crewed charter boat holiday industry is experiencing exciting growth both in Australia and throughout the world. From its origins in the Mediterranean and Caribbean in the early ’70s, the charter industry has flourished with charter fleets successfully operating from some of the world’s most beautiful sailing grounds.
Approximately 90 per cent of boats operating in the charter fleets are not owned by the charter companies. They are owned by private individuals who operate their boats as a business to generate financial returns, while also making use of their boat for regular holidays afloat.
Charter yachts are hired for day sailing, corporate sailing and for teaching platforms for many sailing schools. The most common use is for week long sailing holidays commonly known as “Bareboat Charters” which operate within Australia and around the world. “Bareboat” basically means chartering a boat without crew, which is the most popular option for clients with sailing experience who want to explore a cruising area with their own friends or family at their own pace.
Where do charter boats operate from?
Yachts can be chartered in areas such as Sydney Harbour, the Whitsundays, Fraser Island and Pittwater in Australia and other exotic cruising areas such as Tonga, Tahiti, New Caledonia, Phuket and Koh Samui in Thailand, Langkawi in Malaysia, Greece, Turkey and Croatia in the Mediterranean, and of course the ever popular islands of the Caribbean.
Are catamarans popular charter boats?
Throughout the charter fleets worldwide, it is a fact that catamarans are becoming the most popular charter boats. Apart from their fantastic sailing performance, hiring a catamaran offers the following advantages over chartering a monohull:
- Firstly, you can’t go past the abundance of extra space both above and below decks. Catamarans can comfortably accommodate up to 12 people depending on the vessel’s size.
- They provide a stable platform while sailing and when anchored. You experience little to no heeling over when sailing, and when at anchor there is no rolling around in anchorages guaranteeing a peaceful night’s sleep.
- Catamarans have a much shallower draft than monohulls which allows anchoring close to shore in the most protected anchorages accessible.
- Ease of handling – if you can sail a monohull you can sail a catamaran! Most charter catamarans are set up with furling headsails and slab reefing mainsails (with lazy jacks), with all lines running back to the helm station and cockpit. They also have two engines making maneuvering a breeze.
What we offer:
The Multihull Solutions team has worked with the charter boat industry for over 15 years and understand the position of both the boat owner and the operator. Like any relationship, the most important initial consideration is to find the right balance.
Multihull Solutions can assist you in sourcing and buying the right new or pre-owned multihull to fit into a charter fleet. We have close relationships with the most reputable charter companies to ensure your asset is well maintained and looked after at all times.
We also offer a range of ore-owned charter yachts for sale. We have a wide range of catamarans for sale for either continued use in a charter boating holiday company or for placement into private use.
Multihull Solutions works with well respected finance company Finlease, who can assist with the financing of your yacht, and Oceanic Insurance Brokers to assist with boat insurance.
What type of multihulls fit best into charter?
We understand most charter regions, the charter operators and how they run their businesses. Some operators’ management style may not suit you, while others are an ideal fit. Often overlooked is that the boat you are considering to purchase may not suit that particulars operator’s customer base.
There are many issues to consider: boat size, layout, equipment, term of charter management, location, market conditions, operator’s target market, and both the operator’s and owner’s expectations.
Above all, you need to determine whether your boat be considered a “full charter boat business” or a “hobby based business” by the Australian Taxation Office. This is the most important first step. We can make sure your boat is in the right location and with the most suitable operator for your particular boat, so you can enjoy the business!
How do I get the right boat equipped and into commercial survey?
Our technical team has put more than 70 boats into commercial survey in this region, and understand how to “charter proof” each model to ensure the best possible return to the owner. We also ensure the condition of the boat is of a much higher standard than our competition through this process.
Naturally, we achieve a much stronger resale value of your asset at the completion of the charter period, if you wish to sell and exit or upgrade.
Buying a multihull for commercial operation is not a simple process, so please take the time to complete your due diligence. We strongly recommend you do not buy only on price and what you like personally – the boat is the business and must be a compromise to ensure the business succeeds.
As in any successful business, the people (charter operator and its team) plus the equipment (the boat), make the venture successful.
Want more advice?
For more information on investing in a charter boat please contact us or click on the links below.
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