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Passion for Yachts & Sailing? Turn It Into a Business

Boat BusinessBusinesses have been born from hobbies and personal interests since commerce began. If you look around, you will see it everywhere. Baseball? Horses? Cars? Photography? All great passions that often lead to even greater business ideas. If you have saltwater in your veins like we do, you probably have a dream of owning a luxury yacht to explore and relax aboard on your weekends or even extended cruising. But, like many of the best leisure activities, the privilege of owning and enjoying a yacht comes with a hefty price tag.

But, as with other expensive hobbies, astute business people have created ways that you can turn your boat into a business. A catamaran sailing yacht or catamaran power yacht can be much more than just an expensive toy by turning it into a business with tax deductions, depreciation, exit strategy, etc. all planned out.

A yacht business can be done successfully provided you set it up correctly to comply with IRS rules, and it’s perfectly legal. To accomplish this, you should purchase your new yacht through a limited partnership or limited liability corporation rather than a foreign corporation and there are certain rules you must follow to qualify for the tax deductions and reap all the financial planning benefits. It can be done and we help people do it every day!

He Quit Corporate Life To Become Major Crewed Catamaran Success

Mike "Hank" Hampton is originally from San Diego, California. and was referred to us by our very good sailing friends of many years, Tony and Cleo from Cape Town, South Africa.

They once owned one of the most famous and successful houseboat businesses in Langebaan, South Africa. Plus, they have sailed and chartered their own boats in East Africa and the Mediterranean.

On their recommendation, Hank contacted us to help him find the best possible charter catamaran for his budget. But, that was just the beginning for Hank. He is now on to even bigger things helping other crewed charter owners make their boat ownership dreams come true with a lot less hassle. 

New Yachts vs Pre-Owned Yachts & Charter Yachts

There is always much debate about which is better to buy: New or Used Yachts?

There are pros and cons to each option. Buying a new yacht does not guarantee a trouble free yacht. Yes, there may be warranties to cover repairs, but even that does not ensure a hassle-free yacht. And buying a new yacht results in a big depreciation of the vessel the minute the yacht hits the water.

Top Reasons Your Boat Listing Will Not Sell

Selling a catamaran

The Catamaran Is Priced Wrong

The right price is a function of supply and demand. But how do you know how "in demand" your boat type and model is? How do you know if the location matters for your boat? What are others asking for similar boats? It takes experience to know the answers to these questions as well as access to a large database of boat listings. A yacht broker earns their commission by knowing how to use the information they have to price your boat fairly...for you and for buyers.

A broker can help you objectively assess the condition and features of your boat as well as find comparable boats so that you have a realistic view of not only price, but how long the boat is likely to be on the market. Pricing your boat correctly from the start may save you months of insurance, dockage rental, maintenance, and cleaning fees, insurance costs etc. Do not take any brokers advice personally, but see it as the business transaction that it is.

See here what Catamaran Guru™ can do for you as a selling broker.

Couple Quit Jobs To Start A Catamaran Charter Business

Charter Yacht Business

Several of our yacht buyers in the past five years have bought catamarans to use in a crewed charter business. Establishing and running your own yacht charter business is one of the most cost-effective ways to own a big luxury catamaran. Since the boat is operated as a business, the owners can reduce the costs of ownership by using available tax advantages as well as charter income. This makes it a very attractive proposition for couples who love sailing and adventure and is ready for a change in lifestyle. 

Kristiann and Graham, a couple from Texas, came to us just over a year ago with their dream of buying a catamaran. Their ultimate goal was to buy a catamaran and place it in a crewed charter program with them as owner operators. They had already done their research, but engaged us to help facilitate the purchase of their catamaran from Fountaine Pajot in France and to help them navigate the catamaran buying process. To ensure their path to success, we also guided them through the process of setting up their crewed charter business in the Caribbean with Dream Yacht Charter, one of the biggest and most flexible charter companies in the world.

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