If you’re a boat owner considering chartering out your yacht you may find it a struggle to choose between the multitude of yacht charter management companies there are out there to help.
In an increasingly competitive market place, it is important to sell your yacht to the right clientele, which means picking a broker with years of experience and contacts. It is also a full-time job making sure the yacht is shipshape, with a happy and hard-working crew. Finding the right charter yacht management team is no easy task considering the sheer number of yacht charter management companies in almost every port.
We’ve put together ten pointers to check when choosing a charter management agency that’ll get you results.
Find The Perfect Yacht Charter Management Company
1. MARKETING CREDENTIALS
Yacht management businesses are responsible for getting you the right bookings for your yacht through specialist marketing. A successful company will use a multi-pronged strategy of direct marketing campaigns, social media, website listings and blogging, as well as traditional print mediums and events. Ask them to talk you through their ideas to understand what they’ll do what others won’t.
2. YACHT SHOW PRESENCE
A significant part of any successful yacht charter management company’s marketing budget will be spent on participating at the key international yacht shows. A lot of charter business is carried out at leading events such as Fort Lauderdale Boat Show and Palm Beach Boat Show, and it is key that your yacht is on the mind of charter brokers when they are meeting clients at shows like these.
3. FINDING TOP-CLASS CREW
The quality of a yacht’s crew can make or break a charter, so it is essential that your management team can help you get the right team on board. They will also be able to help fill spaces if a member of the crew leaves mid-charter, a Captain’s worst nightmare.
Marketing your yacht will be considerably easier and reap better results if the agency you choose has an in-depth knowledge of your yacht. This includes knowing all about the guest experience onboard, especially the experience and contacts of the Captain, as well as the intricacies of the water toy garage.
5. EXPERTS IN MARITIME REGULATIONS
As the owner of a charter yacht you must be confident that your yacht is commercially compliant. This includes a myriad of land-based complexities such as crew training, social security measures and insurance, through to structural surveys and regular safety checks for the yacht. Make sure your management team is savvy about all the relevant maritime regulations.
6. YACHT CHARTER ITINERARIES
Your yacht charter management company will be responsible for every aspect of each charter on board your yacht, including scheduling itineraries to best suit each client, leaving you with nothing else to do but sit back and enjoy the financial benefits. Brokers will find the clients, sort out the paperwork, and co-ordinate with the yacht’s Captain and crew throughout the trip. And if there is a problem mid-trip, is the broker and not you that will have to deal with it.
7. INTERNATIONAL FOCUS WITH LOCAL HEART
Choosing a brokerage with an international outlook is crucial as it means that you will be able to market your yacht all over the world, securing charters through high and low seasons in different regions such as the Med and the Caribbean. This will ensure that your vessel is used all year round, which can be very financially rewarding. However, it is also important that your charter management company also knows the local charter market well and has contacts amongst the local yachting community.
8. ESTABLISHED CHARTER YACHT MANAGEMENT COMPANY
Luxury yachting is a growing business, with charter companies springing up all over the world. It is important to choose an established brokerage with a string of international offices, a large and growing client database, and a great online and marketing presence to ensure the success of your yacht in the competitive charter world.
9. CHARTER BROKERS ASSOCIATIONS
To ensure industry standards are regularised a number of professional yachting bodies have been set up, such as the Florida Yacht Brokers Association (FYBA), the Mediterranean Yacht Brokers Association (MYBA), and the California Yacht Brokers Association (CYBA). In most cases, we would recommend only considering a yacht charter management company that is a member of one of these prestigious associations.
10. TRUST YOUR INSTINCT
With many things in life, trust your instinct when finding the right company to look after your most prized possession. It will be much more enjoyable – and arguably work better – if you choose someone you actually like!