Yacht Management Programs
Brenda and I started our life in the charter business as Moorings owners. We have owned several boats, of different types, through several different charter companies. We had highs and lows with the companies we chose, but in the end, we thought there must be a better way.
As we traveled around the Caribbean meeting and speaking with other yacht owners, one thing was clear, for the most part, they felt isolated from the details of their yacht and taken advantage of financially. We wondered what would happen if someone started a completely transparent crewed yacht management company, and used technology to make systems accessible and accurate. So, we started one!
We offer several levels of service, ranging from base service levels for owner-operators, to open accounting profit sharing systems, to guaranteed return models on select yachts. And, most recently, we have added fractional ownership models for people who want to limit the capital required to get started.
Options & Pricing
We expect your yacht to deliver profits each and every year. Financial charter projections are provided below as examples. For each management program, a member of our staff will review specific expectations prior to the signing of any contracts. Our proven and tested projections are based on our years of experience in the industry and on actual current managed yachts. We feel that our estimations are low, allowing us to exceed our owner’s expectations.
Base Level Support – Calendar & Booking Management
Our base level of support is our clearinghouse. Every yacht entered into a charter fleet must be affiliated with a clearinghouse in order to be booked by charter brokers and to be allowed admittance to industry yacht shows. The primary function of the clearinghouse will be to keep the yacht’s master calendar maintained and up-to-date.
Our clearinghouse services are designed for yacht owners and owner/operators who wish to play an active role in managing their yacht. We answer all inquiries (email, telephone, etc.) regarding all aspects of chartering your yacht. We handle mail and package deliveries and provide a variety of office support functions. We manage all potential charter broker inquiries regarding questions about availability, rates, and amenities aboard. Charter brokers regularly check with the clearinghouse to determine availability, promotions or any other pertinent information prior to sending out any paperwork.
Our reputation for prompt and efficient service has allowed us to maintain excellent working relationships with the top charter brokers in the industry. In addition to calendar management, our clearinghouse services include a booking desk to market your yacht through various social media outlets to keep your yacht fresh in the minds of the charter brokers. We are dedicated to booking your yacht to the chartering public as well. To that end, each member yacht is featured on our very active affiliate brokerage site.
The fee for calendar management/clearinghouse services is $125 per month plus the industry standard of 1% on each charter reservation that is confirmed during that month.
Bookkeeping and Project Management Services
For absentee owners, owners new to the charter business or any owner looking for increased financial reporting, iYachtClub offers bookkeeping, banking, and maintenance facilitation services. Many important details must be tracked for accurate record keeping to promote the sound financial management of a charter yacht. We have the experience
and necessary tools to simplify the process. Clear and timely monthly reporting, maintenance record auditing, ACH funds transfers and other critical financial services are available from iYachtClubfor $600 per month.
Full Yacht Management
Our full management services are typically invoiced at 15% of the gross profit from each charter vacation. We recommend full yacht management for the first year when an owner may not be experienced with the intricacies of the charter industry. Some owners work directly with the crew after the first year and then opt for our clearinghouse services alone, but most owners choose the convenience of remaining in the full yacht management program. For select models of yachts, iYachtClub will offer a guaranteed return, between 6% and 10%, depending on the yacht. Call for details regarding our new guaranteed program.
Services offered during “full management”
All of the services listed above are included in full management program, including access to all resources, bookkeeping/reporting, and selection and employment of qualified crew. Additional services included in full management are:
- Supervision and training of crew
- Implementation and supervision of preventative maintenance programs
- Assistance in the case of breakdowns
- Locating and ordering of parts
- Organize annual haul-out and antifouling, together with any work required whilst yacht is ashore.
- Assisting and advising with all aspects of chartering including, but not limited to, planning itineraries provisioning, transportation of guests, etc.
- Ensuring that adequate funds are available both on and off charter to ensure continued efficient operation of the yacht.
Full Management services are provided at our home base in American Yacht Harbor Marina in St. Thomas, USVI and at Compass Point Marina, also on St. Thomas.