What costs do you need to think about if you are thinking of buying a couple of narrow boats and renting them

Question

what insurances, fees, maintenance costs etc do i need to be aware of.

Thanks

Answer 1

please don't

Many people think this is a good earner but its not.

The only ones that make any money are those who own marinas and boat yards and can do everything in-house.

Things you need to think about:

Capital outlay of £80K per boat. A "Liverpool Boat Company" quality boat will not last with hire crews.

Commercial licence £2-8K

Commercial insurance £1K

turn around service £150/week

annual maint £700

depreciation £15K

holiday agent commission 25% ( Hoseasons etc )

marina commission 15%

recovery £50/week

winter moorings £1K

When the rent is about £1K per week for the April-September season you can soon work out all your costs erode any profit, even if you are fully booked. But when you look at very sucessful fleets like "Rose" or "Viking" you will see they are never fully booked out and offer many short notice discounts.