Cost of crew and Chartering fees?

you will offset SOME of the costs, at best...

brokers take 20%. typically, the charterer pays for expenses (fuel, food, dockage)... i'd guess taht an 80s vintage 70ish boat will charter for 15k a week (plus expenses).

if you have a full time captain on the boat, then the added crew costs will be for a chef, and ideally a mate although on a 75 footer if the crew is willing to work hard you can get by with a 2 person crew.

If you have to hire a captain just for the charters you costs will increase by that amount. plus whatever cut the "management company" is going to take... not cheap.

I dont' think there will be much left after you pay the management company once they take their cut on whatever maintenance and repairs are needed, etc... you may get to a point where the net isn't worth the wear and tear on the boat.

also, a charter yacht needs a lot of "stuff" you may not need on a private boat, like upgraded linens, galley items, water toys, etc...

We run charters on the 70 footer i captain, it works out but budget control is an important part of my job; put a management company in the picture and i wonder what would be left...

I do occasional charters on a 75' Hatteras (was a 65' MY) as Captain for the charters. I am not his full time Captain. Unfortunately we only have 1 stateroom for crew and 2 bunks (3 guest staterooms), so it is a 2 man crew for a charter and is a TON of work if it is an active charter or mechanical issues pop up. If half of the charter wants to go on the tender and half wants to stay, both crew members are totally occuppied and cannot prep food or other things. We just don't have the sleeping quarters for additional crew. You also cannot provide 5 star service because of lack of crew, but can provide 4 star when it comes to food and other things. It gets to be very tough if you're travelling for the day, considering I'm totally occupied and the mate has to cook, as well as assist me when needed and clean the boat when we get in, and then if I have to cook dinner. Timing between destinations has to be perfect where you can get the vessel stuff done, and still have time to cook dinner for the guests. It's a very very fine line. It's also easier if the boat had a full time mate to keep things consistent.

The owner has basically started chartering fairly recently in order to offset costs, and to keep everything running and being worked since he cannot use the vessel himself due to the economic climate and family restraints. The owner has treated me very well over the years and I treat him very well and go above and beyond with work and so forth. I manage everything and charge just daily captaining fee when I am on the boat, and considering he books the charters through a website he has it takes a lot of screening and planning by me. He generally pays $450-500 a day for both Captain and Mate, so on a week charter $3500 goes to crew expense. Food, dockage and fuel are generally paid for by the charter unless the owner does a sort of local weekend (within 50-75miles each way) and it's worked into the price.

Charters generally come at different times, so it's difficult to say ok, November and December I am going to charter the vessel and leave the remainder of the year for personal use. You may only have 1 week of charter. Another problem is when chartering, all of the owner's personal items will have to be hidden and you only have so much space for that.

Chartering will add a little wear and tear, (can add a lot if you have the wrong charter guests on board), and I would say only 1-2% of charter yachts ever make money above expenses. BUT, it will help offset some of the costs of ownership.

Insurance is usually a little higher but most policies allow limited chartering ( up to 30 days a year for instance) so there may not be extra costs there

Chartering is all about the crew, you can have the best boat with the nicest marble and veneers but if the crew doesn't "get it", it s not going to work out... Both the captain and mate need the right attitude and be flexible since on a 70 footer you re not going to have room for a 3 person crew which would be ideal.

If you re not going to have a full time crew, your challenge will be to have the crew available when needed. Brokers like to know who will be taking care of their guests and having different crew make them worry...

Extra costs will be making sure the boat is really charter ready with good linens and galley stuff. As to crew cost, figure $500 to $600 a day plus tip

Those rates are way off, $75k a year for Captain and $35k a year for a mate to start. A good Captain starts at $350 per day or more. Mate 1/2 of what the Captain is getting.

I don't discount for the smaller boats. You get a heck of a lot more beat up (physically) running a 40-60' for a day at cruise than you do running a 70-99' for example.