You
need serious cash to start a charter fishing company. The reason is based on the
huge expenditure spent in purchasing a boat.
A
very small fishing boat could cost over $100,000 to purchase. You need to
invest in fishing gear, safety equipment, pay docking charges and open an
office.
Other
expenditures include registering the business and insurance cover. You need the
prerequisite permits and licensing to run a charter fishing business.
Very
few entrepreneurs can afford such expenses. This opens the door for huge profit
making. To run the business you need to find an ideal location and join boat
associations.
Before
starting the charter company, write a business plan and an effective marketing
strategy. Make sure safety is your priority by providing good safety protocols.
Here
are a few ideas on how to start your own charter fishing business.
How to Start your Own
Charter Fishing Business
Apply for Loans
You
need lots of fixed and working capital to run a charter fishing business. Apply
for bank loans from a few financial lenders in your area.
You
need to put-up about 1/3 of the total investment needed to start the
enterprise. Without the seed money and good collateral banks would be reluctant
to facilitate the loans. The funds are for purchase of a boat, wages, permits
and licenses.
Boat Choice
Purchase
a boat with dimensions not less than 25 feet. You need a certified boat captain
and deck hand. Make sure the boat is fitted with the appropriate fishing gear
and cold room.
Write the Business Plan
Make
sure the charter boat business plan covers funding, marketing and registration.
Other things in the plan are staff wages, leasing an office and location. A
good knowledge of rich fishing pools will improve your client’s experience.
Pricing
Price
your trips appropriately and take into consideration what others charge. The
pricing should cover diesel, dock charges and other liabilities.
Develop
a price schedule that reflects all the parameters for profitability. You can organize
excursions, private trips and group trips.
Register the Business
Register
the boat name and your business name. Make the business a limited liability
company and apply for captain license. Get a good insurance company to allocate
business insurance.
Advertise the Company
Find
the perfect location to run your enterprise. You need lots of regular customers
to make profit. Make sure tourist companies, hotels and guest houses know about
your business.
Place
billboards at strategic tourist location to attract customers. Market the
business to boat clubs and sport fishing organizations.
Build a Website
You
can build a website for your charter business. Include beautiful fishing
destinations and happy testimonials.
Add
your contact details, email address and a dedicated telephone number. You can
involve local inhabitants to improve the tourist’s experience.
Use
traditional marketing channels such as posters, billboards and business cards.
Try a few advertisements in newspapers and fishing magazines. And make sure you
abide by maritime laws and conservative provisions guiding sport fishing.
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