CHARTER MANAGEMENT PROGRAM
Charter Management can save a boat owner
$80,000 – $120,000 over 3 years
Benefits of Charter Management include:
Why Wait until Retirement? Buy now and your yacht could be almost paid off and ready to cruise by the time you retire. Charter Management saves the yacht owner the sales tax and the operating expenses. Don’t wait. Let your boat work for you until you’re done working!
Looking for a used boat? Apply the huge savings from charter management and it makes a new yacht the same payment as a used yacht. No kidding, lets do the math!
Two Management Options
Option 1: 50/50 Split
For active-income boat ownership or frequent owner use, this is the plan for you. All operating expenses are the responsibility of the owner. To cover those expenses, the owner receives 50% of the net charter revenue. There is potential for more total income with this option but you (the owner) share in some of the risk. If you are looking for tax advantages or if you’d simply like more time on your boat, this is the way to do it. Plus, if your boat charters more than projected, you will receive more revenue.
Option 2: Expenses Covered
For select models, GLSC will cover all operating expenses for the first 3 years of ownership. This includes warranty work, spring commissioning, winter storage, fall decommissioning, routine maintenance, dockage and insurance (operating expenses do not include the bank loan payments). Owner enjoy up up to 5 weeks of use plus unlimited short notice use when the boat isn’t chartered. Expenses are covered whether your boat charters or not. This option offers more predictable boat ownership.
How does Charter Management work?
GLSC will charter your yacht to qualified, competent sailors when you are not using it. Prospective charterers are screened thoroughly; first when initially booking, then with a charter application, and finally, skills are evaluated thoroughly when dockside as well with an extensive systems briefing. During our 6 month boating season, a yacht will typically charter 6-10 weeks (depending on model, options and age of the vessel), resulting in minimal wear leaving ample opportunities for owner use. Newer yachts (1-5 years old) are more popular, generate more revenues and have fewer maintenance expenses which is why we feel confident guaranteeing that charter revenues will cover most costs of ownership.
When you arrive to use your yacht, GLSC ensures that it will be awaiting dockside, meticulously clean inside and out, properly rigged, safety gear inventoried, mechanical and electrical systems checked, all gear properly stowed, holding tanks pumped out and fuel tank topped off. Don’t spend your valuable time prepping and cleaning – our owners simply arrive and go sailing!
GLSC handles electronics, rigging, diesel, cleaning, and most anything else associated with yacht maintenance “in-house” by our own staff. When it comes to maintenance and taking care of boat owner’s needs, we are not a seasonal company. We have boat techs working year-round on vessel upgrades and maintenance. As an owner, you will always have support.
When you purchase new or enroll your existing yacht, we can take care of the entire process of trucking, off-loading, stepping the mast, commissioning and even add new equipment and electronics.
Little to No Expenses
For select new yachts, GLSC will pay most or all of the expenses for the first 3-5 years. You won’t see a bill for many of the high cost items associated with owning a yacht including dockage, insurance, haul out, winterizing, winter storage, spring launch and spring commissioning. Put the money that would normally be spent on operational expenses towards your monthly payment and you’ll find you can comfortably move up in boat size or add those options you thought you couldn’t afford. We also offer “active income” yacht ownership programs for owners that would like to stay hands on in the management of their yacht.
What’s the next step?
Call us 231-941-0535 or email us GLSC@GreatLakesSailingCo.com. We’ll send pricing and a charter management expense/revenue projection for review.