Yacht Charter Service Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Yacht Charter Service Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Yacht Charter Service business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready!
- Complete Industry Research
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PDF Format
- Meets SBA Requirements
Yacht charter services are popular among wealthy individuals that want to experience lakes and the ocean. These businesses are usually able to remain profitable and most economic climax except when there is a severe recession. The gross margins generated from yacht charter service can be substantial if the company owns its own fleet of boats. The startup costs that are normally associated with a yacht charter service range anywhere from $750,000 to upwards of $5 million depending on the type of vessel that has been acquired. Many yacht charter services will frequently lease the vessels that they use in conjunction with both chartering. The barriers to entry are considered to be moderately high given the amount of licensure and ongoing costs associated with operating these businesses. Most yacht charter services have a captain on staff that is properly licensed by the Coast Guard or other licensing authority to provide charter trips for individuals.
Most financial institutions will provide the necessary loans or lease financing in order to start a yacht charter service. This is especially true during strong economic times when capital is easier to acquire. For any company that is looking to raise capital for a new yacht charter service than a business plan is going to be required. This business plan should include a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. Special attention should be paid to the underlying and ongoing expenses of maintaining a yacht charter service. The costs relating to payroll, fuel, docking fees, and licensure are very expensive on a month-to-month basis. As such, stridency to be made in order to ensure that yacht charter trips are booked months in advance in order to properly manage cash flow. Beyond the financial information, a full demographic analysis that discusses population size, population density, median household income, median family income, and the number of people interested in taking frequent yacht charter trips should be discussed within the document as well.
As it relates to the yacht charter service marketing plan, this needs to be a substantial document that uses a number of different marketing channels in order to ensure near 100% occupancy at all times. For most, many yacht charter services work with travel agents in order to ensure that wealthy travelers can quickly book trips on a daily basis. This is one of the best ways to market a new yacht charter service given that fees are only paid in the event that a booking takes place. Additionally, a massive online presence is required in order to make sure that people can see the vessels available for rent, the staff, preliminary pricing information, and booking information. Many yacht charter service websites will frequently integrate e-commerce functionality so that individuals can place reservations directly on the website without having to directly contact the business. Once a yacht charter services established they may also engage in placing lifestyle articles in magazines that are geared towards wealthier people that enjoy travel and excursions.
A yacht charter service SWOT analysis should also be developed. This document outlines the strengths, weaknesses, opportunities, and threats that are associated with these types of businesses. As it relates to strengths, yacht charter services are generally able to remain profitable given that their clientele is less swayed by negative changes in the economy. For weaknesses, these companies have very high ongoing operating expenses and are required to comply with a number of different licensing agencies as they provide their services. As it pertains to opportunities, many yacht charter services will seek to acquire additional vessels over the life of the business in order to boost the week to week and month-to-month revenues. For threats, the real major threat faced by these companies is a negative economic downturn. Given that it is very expensive to charter a yacht on a daily basis a decline in economic productivity could substantially impact the profitability of the company.