Starting a Yacht Company

Summary: How does one break into the high profile yacht business? What types of yacht business can one start?

What qualifications does one need to meet in order to own a company that builds sells, rents, or manages yachts? Find answers to these questions as well as tips on starting a yacht company.

If you are a sea lover with special interest in yachting and in entering the yacht business, here are the ways you can start a company:

• get a license to become a yacht dealer
• start a yacht building or refitting company
• start a yacht charter business

Becoming a Yacht Agent

You can start this business if you have the finances to license yacht sales, rentals and rental management business. If you have a background about yachts, cruising, and managing a business and would like to know more about these, becoming an agent of a multi-national yacht company would be beneficial to you. The catch in this is, you have to qualify for the chance to run a business that carries a recognized name. You have to apply for a license, giving them proof that you have the business ability and the finances to operate the business. Usually, you’d be scheduled for a meeting with the company, and if this meeting goes well, you will be up for a training to see whether the project is feasible. If the training is successful, you get a license to operate using their business name and under their tutelage.

Starting a Yacht Building or Refitting Company

Venture into this business if you have the capital to own a shipbuilding facility and the technical knowledge to build boats. If you are starting young, enroll in a boat building course and find employment in a yacht building business. After gaining experience and finding enough capital, you can start out on your own. Focus on a niche market if you are small; you can get run over if you compete directly with bigger manufacturers.

Starting a Yacht Charter Business

Yachts are expensive properties to own. Aside from being costly to build or to acquire, yachts must be maintained even if they are not sailing. And that cost could run considerably high for the few weeks they are left idle. To keep the yachts running (and maintained in top shape) as well as earning, some yacht owners charter their yachts during seasons when they are not in use. They charter it with yacht management companies who rent them out to private and corporate cruisers. You can be a company managing the cruising and maintenance of these yachts. If you want to operate with your own fleet, you can buy a new one through a loan or a used one. Later, you can refit the boat to upgrade its look and facilities or to suit your preferences.