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Yacht Owners Wanted

By Glyn Williams, Saturday, 2nd May 2020 | 0 comments
Filed under: INSS News.

We’re excited to push on with our concept to grow the Irish Yacht Charter industry.

Following a survey launched earlier in April we’re confident that there’s sufficient demand to have a domestic charter industry up and running for August, on into the winter and ready for the 2021 season where we hope to make the most of the increased consumer sentiment for such an activity in Ireland, driven in part by a reluctance to travel abroad caused by Coronavirus.

We’ve currently got two suitable vessels in our fleet, however, high season for training coincides with peak charter demand. We’ll certainly make the most of any downtime on these vessels but would be delighted to partner with yacht owners based on the East Coast.

How would it work?

On a basic level, the Irish National Sailing & Powerboat School would do the following:

  • Undertake all advertising and booking administration. We’ve a database of over 8,000 past customers and an online reach into the hundreds of thousands each year.
  • Manage all aspects of yacht hand over to charterer, support and troubleshooting during the charter, as well as return and vessels checks.
  • Clean vessel and carry out maintenance if required prior to return to owner.

The owner would provide the vessel, and ensure it is insured. We’ve been in contact with a number of potential insurers, who not only will cover this type of activity, but also do at a very competitive rate. The premium differences are less than 40% in some cases.

The owner would receive more than half of the charter fee, and with first dibs on using the boat, would be able to sail when they want, and allow the yacht to generate an income while its not in use. We’ve explored how the concept operates elsewhere, and the main way to view this from an owner’s perspective is that this would cover the operating costs of the yacht each year, from mooring, insurance and annual maintenance. Effectively its designed as cost-free boating.

There are also options where we can manage the full maintenance, upkeep, winterising and all ongoing tasks with the boat.

Charter Rate Indications

At this stage we’d be lying if we were able to put a figure on use, however, we can establish from market research, customer surveys and previous charter using our vessels, a 35-45 foot boat could generate €2,500-€3,000 for a charter between 5-7 days, with the owner receiving more than half of this. There’s also a significant demand for day charters identified, with rates of between €500-€750 being charged for our current 36 foot vessels.

What about damage?

Our proposal is that we would cover damage up to the excess on the insurance policy, covering any large issues. Smaller issues can be dealt with by our maintenance team. We’d be happy to chat about this in more detail, covering what would be considered routine wear and tear. Our team currently maintain two yachts that spend more than 200 days at sea each year on training activities, as well as a fleet numbering 250 boats from large 9m RIBs to hundreds of dinghies. Small issues would be dealt with in a matter of hours.

Where would this operate from?

We’re initially looking to add a network of 2-3 yachts based either on Dun Laoghaire Marina or Greystones Marina, although we’d love to hear from others based further North or South.

What competency level will be expected of charterers?

We would apply the normal European Charter standard, the ICC in most cases, and certainly never a lesser qualification. Our experience has been positive using this with our yachts. In any case, we’d be responsible for ensuring anyone skippering the yacht was up to the task.

Interested?

We’d love to hear from you. Our chief instructor, Kenneth Rumball, would be delighted to chat with you. Give us a call on 01 2844195 or email directly to kenneth@inss.ie.

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