7 minute read
world of chartering
This month we focus on a family's carefully designed plan to Achieve Their Cruising Dreams Through Chartering, plus Charter Notes.
Having the Fun Without the Hassle:
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A Five Year Management Plan In these hectic times, many sailors fi nd they just don't have the time to properly maintain a boat of their own — not to mention the cost of buying and berthing one. As a result, the international charter industry continues to fl ourish, and membership in local sailing clubs continues to rise. You may not realize, however, that most boats offered by both clubs and charter operators worldwide are owned by private individuals who have entered into management contracts with the charter operators. The costs and benefi ts of such deals vary substantially from company to company, but all contain some sort of fi nancial benefi t — typically a path to eventual ownership, a share of the rental profi ts, and/or free berthage and low- or no-cost maintenance — plus a generous allowance of time for personal use of the boat. Last month we were introduced to a somewhat different approach when we caught up with Katie Burgess. She and her husband Lyall have embraced what they call their 'five-year plan'. If all goes as planned, in a few years they'll be crossing the Atlantic with their daughters 'Iwalani, now 5, and 'Anela, 3,
After crunching the numbers, Lyall and Katie think their fi ve-year plan is an investment that will pay off in myriad ways.
aboard a completely paid off, late-model sloop. Katie and Lyall have done lots of sailing, and they hope their young daughters will eventually share their passion for the sailing life. But because they live on the Big Island of Hawaii, they feel it's impractical to own and maintain a family boat there. So a couple of years ago, they began researching the idea of buying a boat within an international charter fl eet. Today, they're a year and a half into a fi ve-year management contract with Dream Yacht Charters on a late-model Dufour 382 sloop. She is based in the Med, at the picturesque harbor of Propriano, on the southwest coast of Corsica. "I met Lyall when he'd just crossed the ocean on a Dufour 382," recalls Katie. I stepped aboard and said, 'Wow, this has everything I want in a size of boat that's manageable.' "We really like the idea of having an unbranded boat — one that hadn't been customized for a particular charter company." As with many other owners who've placed boats in management programs, both in US waters and abroad, Katie and Lyall consider their deal with Dream to be an investment in a lifestyle, as well as in a boat. "For us," explains Katie, "a family with two kids, part of what made this management program appealing is that we knew we had the flexibility to take a month or six weeks off every year." Their annual allotment of personal sailing time aboard their boat — or boats at other Dream bases — is six to eight weeks a year. They are not allowed to sell their weeks, but they can gift them to friends or family members.) "Knowing we would have those weeks to use, was a huge value to us. "We pay a $300 cleaning fee for three weeks of chartering. That's it. We book our weeks a year ahead, and that's allowed us to see places like Propriano, which we'd never have visited otherwise." Some owners who put boats in management programs are looking for profi ts, but Katie and Lyall are more interested in introducing their kids to farfl ung sailing destinations. "Next year we are looking at sailing in Thailand and the Seychelles," says Katie, "again, places we would never sail to on our own boat. But there are other owners who are happy to keep their boats in places like the BVI, and go there to use their weeks four times a year at the same place." Clearly, no single approach is right for every investor. And each management fi rm offers somewhat different deals. "We made one big balloon payment in the very beginning, and we won't pay another dime until year fi ve," explains Katie. They make no profi t from the program but pay nothing for maintenance, repairs or berthage. "For us and for other families who want to eventually cruise together, this plan is a really cool because it gives us an opportunity to take a vacation every year aboard a boat, test out the lifestyle, and get our kids to slowly adapt and fall in love with sailing, rather than forcing it on them by suddenly moving aboard
The family, last year in French Polynesia. When use of a boat is free, vacationing for several weeks is affordable — even in Tahiti.
and taking off. "There are few ways to just 'check out' like you can with sailing, in terms of really disconnecting and having that quality time to look forward to every year. That's been a bigger bonus than I thought it would be — the priceless quality time with family and friends. "Another big takeaway from this experience is that you don't need to be a millionaire to have this lifestyle. Even if you are retired, this could be the way you gather your family together." Katie also let us know about Dream's new fractional ownership program, which, she says, is unique in the industry. Each of four partners, or couples, makes an equal investment up front, and each co-owner gets fi ve weeks of personal use per year. At the end of fi ve years the boat is sold and the partners split the income. We're thrilled that Katie and Lyall found a program that gave them a clear timeline for meeting their family cruising goals. As we noted earlier, however, there are many variations on the charter management concept. So if you're interested in following the Burgess' lead, we suggest you review the offers of a variety of companies, both large and small, in order to access the program that works best for you. If your budget is tight, consider investing in a second tier (bargain) charter fi rm that rents slightly older boats. Consider also putting a boat into the fl eet of a Bay Area sailing club. It's a great way to greatly reduce your maintenance costs, and earn a little side money while having personal access as often as you like. — andy
The Burgess family's new cruiser combines comfort and high performance. Its fold-down transom is ideal for the tropics.
NICOLAS CLARIS / SUNSAIL
Charter Notes Twenty years ago catamarans made up only a small portion of most tropical charter fl eets. But these days, high demand from customers has led them to dominate many fl eets. Why? Primarily because they offer spacious accommo-
Purpose-built for tropical chartering, Sunsail's new Lagoon 424 is a party platform designed for laidback cruising with style.
dations belowdecks, acres of open deck space and a ride so stable that you can invite non-sailors along without fearing they'll develop mal de mer. If you've toyed with the idea of buying a cat to cruise on, sampling the multihull experience through chartering makes perfect sense. But how can you qualify to skipper one if you have no cat sailing on your resume? No worries. That's a very common predicament, but it's easily solved. If you are a longtime sailor with captaining experience on monohulls of a similar length, most charter companies will allow you to take out one of their boats after giving you a thorough briefi ng. Worst case, if your big boat experience is minimal, the base staff may require you to take on a paid captain for a day or two until you fully understand both the boat's systems and its sailing dynamics. But there's another option that will make you much more confi dent to take charge of an expensive boat that's totally unfamiliar to you. That is, to take a multihull sailing course here on the West Coast, and perhaps rent a cat for a few daysails afterward until you are fully confi dent. The additional costs will be money well spent.
— andy
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