Difficulty: Moderately Easy
Step1
Decide on what services you will offer. Some companies simply charter the yacht, while others offer the possibility of hiring a crew, taking a guide along or using the yacht as a living area. Offer clients the chance to participate in the planning process.
Step2
Decide on the distance limit your boats will cover before you start your business. If you rent your yachts out to people, you need to set up rules on how far they can go and whether they can enter international waters or not. Depending on this, you may need to obtain different licenses.
Step3
Consider a franchise if you have no previous experience in the industry. Companies such as WindPath Sailing provide you with an accredited training program, help with all legal agreements, online marketing and group insurance programs (see Resources below).
Step4
Diversify by offering both private and corporate yacht rentals. Many organizations rent a yacht for an evening or even a few hours to host a party, a cocktail hour or a function for their employees. Others may choose to celebrate a birthday or host a charity auction on board. Rather than focusing only on long-term renting, expand your horizons.
Step5
Offer extras. If you own large yachts in your float, consider making available other services for an additional charge. For example, partnering with catering companies or DJ services may benefit you, as many people would prefer to set up the whole charter trip at once rather than look for their own entertainment.