Anyone here own a day boat rental business?

[Ricco1]

I'm in the process of buying one, but having difficulty getting insurance. If anyone could point me in the direction of a company that welcomes this business, and is reasonably priced, I'd be most grateful.

 

Thanks

[MHS]

I can imagine the premium will be massive. Must be the highest risk of any boat on the system.

 

Good luck with your venture.

[Alan de Enfield]

Surely (hopefully) the seller of the business would have had insurance ? can he not advise ?

[cotswoldsman]

I had a share in a couple and we used Aviva it is not cheap. Have to say amazed that when you did your business plan you did not include all the insurances It is a business with little return and a lot of hassle the only real return is when you find someone to sell the boats to after you have depreciated them

[Alan de Enfield]

. Have to say amazed that when you did your business plan you did not include all the insurances

 

Maybe Ricco is Paul Lillies long lost brother ?

[Titus]

Have you checked out the C & RT licence for a day boat, apparently they've shot up this year as well

[RLWP]

Have you checked out the C & RT licence for a day boat, apparently they've shot up this year as well

 

If they allow you to have one

 

Richard

[Ricco1]

I included the cost of the current insurance in my plan. I'm just having some difficulty getting this company to respond. Hence looking at possible other options.

 

The licence has indeed shot up in price. CRT have removed the discount element that used to be there because the boats didn't use locks. There's a 20% discount this year (off the standard licence price) which will diminish to zero over a few years.

 

CRT have agreed to give me a licence, subject to me having £2M liability insurance and approval of my handover plan.

 

I know there's hassle with this business and that you won't make big money. I don't need more money to survive but the £6-8K p.a. profit that I envisage (being conservative in my calculations) will come in handy. It's seasonal, enables me to go to warmer climes over the winter months. And although I'll be on call every time it's out it will be in the comfort of my own narrowboat nearby. So it's not like working all the time, which I don't want.

 

So this type of business certainly isn't for anyone who wants to get rich or has family committments, puts value on being free at the weekend. But for me, it seems perfect. Time will tell I guess!

[cotswoldsman]

Good luck I am sure you will do ok as they say day boat hire is al about location if you can do some sort of deal with a canal side pub that will do a meal that you can include in your price for those that want it can be a good boost to profit

[bottle]

So it's not like working all the time

 

I do hope your right.

[cotswoldsman]

So it's not like working all the time

 

I do hope your right.

Yes I resisted comment on that one that is why I only invested had nothing to do with the operation

[Ricco1]

What I meant was physically working all the time, be that in a shop, office or whatever. Sure I'll be on call but for most (hopefully) of the time I'll be able to do the stuff I do at the moment.

 

Once I've taken the thing on I'll visit canalside pubs and try to work something out. A 'boater's menu' special or something, where I get a cut, plus my advertising poster up in the pub. I'll also look at teaming up with a discount voucher company to fill some of the less popular mon/ thurs slots.

[bottle]

You may not be 'working' when the boat is out but every-time it comes back, you will be cleaning it and checking it from stem to stern.

 

I do wish you good luck

 

Just being, a little, devil's advocate.

[Ricco1]

You may not be 'working' when the boat is out but every-time it comes back, you will be cleaning it and checking it from stem to stern.

 

I do wish you good luck

 

Just being, a little, devil's advocate.

 

Overflowing toilet, chips trodden into the deck boards etc. etc. Hopefully not every day but yes, these things certainly happen.

[cotswoldsman]

You may not be 'working' when the boat is out but every-time it comes back, you will be cleaning it and checking it from stem to stern.

 

I do wish you good luck

 

Just being, a little, devil's advocate.

If only

Can't turn the boat round

Prop fouled

Stuck in the mud

Engine won't start

Lost the keys

We are pissed and forgotten where we are supposed to bring boat back to

I could go on but it was a few years ago and only have the ones passed on to me!!

[Burgiesburnin]

Good luck with the venture. I,m sure that all the negatives and drawbacks listed will soon be all part of the fun!

Lets hope anyway.

[dor]

I looked into the costings of this a couple of years ago for a marina. I rapidly came to the conclusion that unless the boat is out at least five days a week, every week for six months and out for four days a month for the other six months it isn't worth it. The other local day boat hirers reckon to make a small profit as they have written off the cost of the boat and they are employing people anyway to do the maintenance, and they also hope to get a bit of knock-on business for hire boats etc.

 

However your location may be better (are you on a long lock-free pound?) with no competitors so I wish you the best of luck.

[the barnacle]

can I ask what a day boat business consists of - it sounds interesting for me and the family.

 

 

I wish you well with the business, take on board as the speak all what people say but its people like you that this country needs who are willing to work, good luck,

[Ricco1]

I looked into the costings of this a couple of years ago for a marina. I rapidly came to the conclusion that unless the boat is out at least five days a week, every week for six months and out for four days a month for the other six months it isn't worth it. The other local day boat hirers reckon to make a small profit as they have written off the cost of the boat and they are employing people anyway to do the maintenance, and they also hope to get a bit of knock-on business for hire boats etc.

 

However your location may be better (are you on a long lock-free pound?) with no competitors so I wish you the best of luck.

 

If it goes out 50 times a year it will break even; that's allowing for a very generous repair fund. It's gone out around 100 times a year on average, over the past 3 years. The current owners haven't pushed it much, having more lucrative business interests. Most of the bookings are repeat or just come through their website.

 

The boat is the only one on 6 miles of lock-free canal. It's possible another one could start up, but the number of potential moorings is very limited. The boat occupies a prime spot; bang in the centre of a large village, you can see it on the main road in.

[MHS]

 

The boat is the only one on 6 miles of lock-free canal.

Where abouts are you? (approx if you don't want to be specific)

[Richard10002]

Where abouts are you? (approx if you don't want to be specific)

 

Stockport

[Peter X]

Have you considered, I wonder, offering skippered boats instead? Presumably there is a minimum standard of qualification required by law or by CRT regulations, so you couldn't just send out someone like me who only has common sense and some basic boating experience, but there must be people with proper knowledge who would do it for fairly low pay as a fun semi-retirement job?

 

The advantages are: You have less to do because the skipper will protect the passengers and boat for you, making it a much lower insurance risk, the handover period can be shorter, and the hirer gets the benefit of having someone aboard to show them how to operate the boat if they want to learn.

The sort of day boat hirer who doesn't want a skipper with the boat is either the sort of hirer you don't want, or an experienced boater that the insurance company shouldn't be alarmed about.

[RichardH]

Mercia Marine - speak to Keith Hough.

 

Whilst I agree that the antics of some pirates etc on day boats are less than ideal, some of these people may then go on to do holiday hire and potentially buy a boat.

 

I would avoid a 'patch' which includes locks if possible. Under the current licensing system a healthy 'no lock' discount was offered. This may be changing with the new structure.

 

Have you found a suitable boat?

[Pykebird]

I don't own one myself, but can call a friend if you like!

[MHS]

 

Stockport

Being close to Manchester, Sheffield etc, you have a large population close by. Helpful for day boat bookings.