Fractional Lease a Center Console
 

After taking our first trip on the Statement I am amazed at the utility of center consoles..

Any reasonable boater (I assume most people in the forum) could handle it.

We are considering a seasonal fractional lease program for qualified boaters.

You would be briefed and checked out by a captain and added to our insurance to use the boat on your own.

Pinnacle Yachts has a similar model for cruisers.

I would think 5-6 members could easily get as much time as they wanted and we could keep the expenses low.

We would have a captain inspect the vessel before and after each trip to make sure each member is held accountable for taking care of the boat.

I'm interested in hearing your thoughts!!!!

Cool idea but more practical for a pricier boat. Imo.

A. S. Florida would ruin your business model. The boat would have damage, theft, " would elicit offshore missions like smuggling"
B. The hours aren't like other boats. You can rent a boat and hang out/cove out without cranking up the hours. On the CC the actual running the boat would be far more exciting than hanging out. You can also reach further destinations in shorter times.....something you can't do in a SeaRay or pontoon.
C. I think the boat is too fancy, too expensive for this business model. Trim it to a 30-34 with twins on a joystick control and not a premium brand like Statement and you would probably make more money.

Pricier?
$250k for the boat
$20,000 dockage
$10,000 insurance

All the Pinnacle "yachts" aka cruisers are 2008 Sea Rays under 40'

That's about a $160,000 boat and they are at much less expensive marinas

http://www.pinnacleyachts.com

$7500/lease includes everything except fuel.

5 lessors gives everyone 10 weekends and tons of weekdays.

Who gets out 10 weekends a year? Not many. It's an ideal concept for people like me who want a 2nd boat in Florida but don't want to pay all the expenses.

I'd pay the lease and maybe get to use it 4 times a year. Members could "sell" their unused weekends to other members at a price they negotiate amongst themselves.

I have GOST gps tracking. The boat is in a secure marina. The boat doesn't leave without seeing the captain before departure. Insurance would only cover those who submit their boating resume.

Deposit would be required.

In terms of being too fancy......It's a very nice boat. I was impressed with how docile it is and the fact that the rub rail protects the boat. The real concern would be damage to the lower units.

This would have to be a real select group of boaters not just boat renter types. They would have to have a performance boating background. OSO members make the most sense.

Minimum requirements would include prior ownership of a twin powered boat with at least 496s and at least 30 feet.

My captain would have the final call on their selection.......making sure they are competent and capable.

All good points......appreciate the input. Keep it coming!

Where is the profit?

5 people leasing at $7500 is $37,500 but the marina/insurance is 30K of that! 7500 left could go towards maintenance but not a single dollar towards the Capt who supervises the operation, the cost of the boat or the thought of a profit! Get a bad year and buy motors/lower units and you are in the red for the next 5 years!

How was your Bimini trip? Thought we would see a thread or some cool pics by now!

On this charter/fractional idea, are you looking to make money or just get a boat paid for so you can use it for free when you are in town?

Profit is in the tax savings and being able to do some charters and poker runs. Everything is under warranty.
I get my share for free and the captain only make a few thousand - at most.

I did tons of research and took the leap with the intention of making money. That hasn't happened for several reasons. I know enough now that I can charter about any boat out there for wholesale.

There is probably enough money in just doing FPC poker runs to be profitable. I'll dump the $20,000 dockage at Miami Beach Marina next year if it doesn't produce and insurance should be 1/2 next year.

The nice thing is....I bought the boat right. It's not going to depreciate much over the next 2 years. I'm having a blast doing it.

I like the idea, 7500 versus the 75-100k for a bahama boat that we have been thinking about.