The bare boat business is competitive. To lead, grow and be profitable, let's look at options of what we can to do ... as a team and with the right tools!
In 2018, I bought and placed a catamaran in charter.. I was concerend about how the yacht would be managed and maintained.
Fast forward to 2020. Now I am not worried about the shape of my yacht but the operator who has her under contract. With customers currently non-existent and prime tourist seasons compromised, I am equally concerned about the people working for the operator who have been so supportive of my yacht in my absence.
How quickly circumstances can change. Lets focus on how to move forward!
Add value to your charter yacht by collaborating with your managment company
Whilst purchasing my yacht, I researched systems allowing me to stay in touch with my asset. I get comfort from knowing what’s going on.
At the time, I wrote this article about boating assets at risk across the globe which didn’t install much confidence in the industry.
I have since realized that a good working relationship with my yacht management company alleviated a lot of anxiety. So my thoughts about a monitoring system moved from ‘supervision’ to ‘collaboration’.
My core thoughts are:
A profitable bare boat business and managment company is good for my investment. Maintenance will get done, so my boat is looked after. A healthy balance sheet means expansion which in turn means new boats and more destinations for me to choose from during my next vacation.
As an owner, how can I best support an operator without interfering in their day to day business? If I add value to my yacht I will add value to their operation which in turn will again add value to my yacht.
Identify opportunities to enrichen customer experiences
During my first charter on ‘No Shoes’, I identified 10 opportunities which would provide additional value to the customer experiences:
Make it easier to rent my yacht, get on and off the yacht quicker and the big one – get familiar with it before getting on board. We spent 2 hours before departure and a further hour upon arrival just doing administrative ‘stuff’. That’s time I would have liked to spend on the water!
I would have appreciated real-time updates on the weather through one local source, tips on restaurants and places to stop along the way as I got closer. The manager was very informative during the briefing, but I was too overwhelmed at the time and much of the information got lost.
Pre and post travel experiences can also be enhanced. People love to talk about their holidays. I want them to get engaged, talking about my yacht long before and after their charter. Whip out your phone, show your colleagues a picture or quick video of “your” yacht next month! Free brand representation right there for all to see. Integrated social media feeds along the way.
Streamline day to day operations and enhance safety
For the operator, I saw opportunities to streamline turnaround times and maintenance. When the timetable is tight, things get missed and valuable information that should have been passed on gets left out. The guys at the dock didn’t really know what to expect until I got there, apart from routine maintenance items. Now multiply that by 20 boats, all due at the same time … how do you schedule that? Apart from enancing safety, there are opportunities here to save money and lower stress levels for all involved.
Sailsense Smart Boating Assistant provides the missing link and peace of mind
I started to collaborate with a Belgian company called Sailsense Analytics. They already had a comprehensive monitoring system with the potential to address all the above. And they did!
Sailsense was created by a couple of dynamic sailors with an open mind and is now run by an effective support team. Their “Smart Boating Assistant” manages to combine the needs of all parties involved and is continually evolving … just as the industry.
So when I see a good thing, I like to get involved. Nicolas De Laet and Yannick Vereerstraete, founders of Sailsense, took me onboard to represent their brand and system here in the Southern hemisphere, mainly Australia, Thailand and Hong Kong.
More on the product launch in Australia and how Sailsense can help keep your boating business profitable will be the subject of next week’s article.
In the meantime, you can email me directly for a chat or click the link below to the new Sailsense section on my page.
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