Yachting and in particular yacht ownership is a dream for many. A symbol of success, and perhaps the epitome of a luxury lifestyle. Like other expensive acquisitions, the time required to maintain this inherently complex asset with associated costs can be extensive. Owners appreciate the lifestyle but many do not want to be troubled with the day to day occurrences.
YACHT Solutions was founded on the principles of saving clients money, conserving their valuable time while enhancing their lifestyle. Innovative programs have been created for those considering yacht ownership and effective Yacht Management essentially puts the yachting lifestyle within reach and makes it even more rewarding. This enhanced experience basically addresses the key issues involving high costs, many unknowns with risks minimized, by dealing with the day to day operations of the boat and good business planning.
Financially, we provide savvy solutions for Yacht Ownership that are ideal for an active owner lifestyle. A comprehensive Yacht Management program is the solution, essentially the same way superyachts are looked after for their owners. This entails dealing with the complexities of workers, training, technical support, administration, accounting and charter management, which is putting the boat to work when the owner is not using it.
Managing a luxury yacht is an increasingly elaborate business. The YACHT Solutions team is comprised of highly qualified personnel who can offer support and advice to yacht owners to ensure that the yacht is being maintained, administered and operated to the highest standards. Our Yacht Management program allows for Fractional Yachting which is a seasonal rental and Fractional Ownership, which allows us to manage the vessel for multiple owners.
Charter Yacht Management
From a yacht owner’s perspective, chartering is the chance to turn an investment in leisure into an opportunity to generate revenue; often useful to help cover the running costs of your luxury yacht. Placing your boat into charter service can substantially reduce the cost of ownership and potentially create positive cash flow.
Placing a boat into a charter fleet is a great way to reduce the cost of ownership. Your boat can generate revenue to cover insurance, moorage, and operating costs. What charter management does is it recoups revenue for the owner as the fixed costs are there whether the yacht is used for 2 weeks or 40 weeks. Some of the fixed costs are dockage, staff, insurance, scheduled maintenance.
All of our boats are privately owned yachts. The owners of these vessels trust their investments in our hands and we take that privilege seriously. Each vessel is evaluated for its needs of care and it’s unique opportunities in the charter fleet. Preventative maintenance and regular checks help us keep the boats in immaculate shape and charter ready. In addition to a factory-approved maintenance program, we also clean and detail the boats regularly. Look forward to increasing your boating time as you arrive to a clean and well looked after vessel.
Our Charter Yacht Management program is geared to market and sell as much time on charters as you wish or to just cover costs, it’s totally up to you the owner. Boats don’t like to sit at the dock for months on end so if you don’t have the time or opportunity to use your boat very often chartering might work for you. Out of town owners can get peace of mind knowing their investment is being taken care of while they are away.
Yacht Solutions offers a full range of yacht management services capable of handling the full spectrum of yacht operations, allowing us to individually tailor the specific support and services needed by the Owner. From financial reporting to the supervision of jobbers, our team has the specific knowledge and experience to deliver the highest caliber support. Effective checks and balances, both operationally and financially, give the Owner peace of mind that the yacht is operated safely and efficiently.
Using a dedicated account for each yacht and working from an annual budget agreed with the Owner, the Yacht Management team will handle the entire financial management of the yacht’s expenditures. The Yacht Manager will administer expenditures against specific categories, pay bills and reconcile statements. Production of monthly, quarterly and annual reports will occur, comparing the actual operating costs to the budget with explanations where variances have occurred. The Yacht Management team acts with the utmost integrity, assuring transparency in all aspects of the vessel accounting.
In the technical and maintenance arena, the diverse backgrounds and practical experience of our staff provide a wealth of knowledge. Through regular visits to the yacht and working with the owner in the selection and monitoring of vendors and contractors, our staff will help to align maintenance and repair work with the budget and cruising itinerary.
Marketing and Calendar Management
Just tell us when you’d like to make your yacht available for bookings and where you want it based and we can project how much charter revenue you should obtain. As leading experts in this field, our marketing strategies are proactive and international in scope, utilizing many promotional tools such as digital marketing, e-fliers, corporate catalogues, events and advertising. This also involves the creation of yacht videos which are increasingly popular, especially on social media. YACHT Solutions has also cultivated privileged relationships with charter brokers around the world – an invaluable resource for booking charters.
Including Concierge Service
A Concierge Service is an individual or an organization that offers personal assistance on almost all aspects, from household management to chauffeur services, at a price. The desire for experience over ownership in this era of digital technology is driving modern concierge companies to deliver exceptional services 24/7 to its valued clients. More on this in our next segment to this 3 part series.