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Old 29 August 2003, 04:19   #11
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It sounds a lot doesn't it?
But start to work out the REAL return.
He does a max of 6 runs a day-during the season only (4-5 months up there).
Not all runs are full. Weather and tides do not always permit leaving harbour.
There are 2 crew on every run who need to be paid plus one ticket office lady/kitter outer. One in office doing paperwork/running website/answering phone.
Fuel cost is minimal. Harbour dues and license to operate? Substantial though. Amortisation on boat (cost £110k). Interest on purchase price. Maintenance on boat.
Finally, now what is the return on capital employed and would you have been better off leaving the money in the Building Society?
A closer call than you might think perhaps.
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Old 29 August 2003, 04:44   #12
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Quote:
Originally posted by Brian
It sounds a lot doesn't it?
But start to work out the REAL return.
He does a max of 6 runs a day-during the season only (4-5 months up there).
Not all runs are full. Weather and tides do not always permit leaving harbour.
There are 2 crew on every run who need to be paid plus one ticket office lady/kitter outer. One in office doing paperwork/running website/answering phone.
Fuel cost is minimal. Harbour dues and license to operate? Substantial though. Amortisation on boat (cost £110k). Interest on purchase price. Maintenance on boat.
Finally, now what is the return on capital employed and would you have been better off leaving the money in the Building Society?
A closer call than you might think perhaps.
I knew that

The point I was touching on was that a 'bargin' £15 per hour, where for the owner thats £180.

But still 6 runís a day, so £1080 a day. 5 days a week, so £5400 a week. So £129,000 for 6 months, in an ideal world.

So for a yearly turnover for doing 'Rib tours' that is not too shabby, and if the boat loan is 3 years, then it seems feasible to be able to cover the costs and provide a living.

Ok so the net profit might not prove to be the best way to have spent your money. But then there is the moral dilemma of the owner / proprietor. If I had the chance to take 3 years out to drive about in a £110k RIB giving others an experience, whilst paying for the boat I would jump at the chance!
// hope your taking not all your budding entrepreneurís


But the in hindsight I am in now way a business analyst, or in a position to say yes / or no to such a venture because I don't know all the details

Lee
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Old 29 August 2003, 05:44   #13
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I hear what you say Lee.

I have looked at a number of "lifestyle" opportunities.
My wife, for example, wanted me to open a diving school in the Cayman Islands. What a life.
Trouble is, if you look just at the money side of things it says "stay in bed and let your dosh ride it out in the bank". Your lust for life says "go do it!! Why are you waiting".

The only problem is for people who are in danger of confusing the two!

Take my trip. The man was on his 4th run of the day. Each run was 1.5hours total. He hadn't had lunch or a coffee break that day. There is no wind or spray protection at the helm. He was wet cold hungry and probably fed up with shouting answers to tourists questions above the roar of the engine. The photos make it look idyllic but the open water crossing to the island was very wet and windy (hence the yellow condoms).
I think I would like to do the first 10 runs. Then I would go out of my skull!!
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Old 22 September 2003, 13:58   #14
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John o Groats

We like to think we offer very good value trips
:) To get the sums right the Northcoast Explorers replacement value is in excess of £110k, we operate from Easter to the end of September & wish we could fill the boat at every trip but realistically can only expect to do so in July/August However we are prepared to take out a minimum of 2 passengers working on the theory that 1 satisfied customer will tell all his friends/relatives
6/7trips a day during peak season certainly makes you appreciate a light refreshment afterwards (essential to combat dehydration
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Old 22 September 2003, 15:17   #15
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Re: John o Groats

Quote:
Originally posted by Ali Jack
We like to think we offer very good value trips
To get the sums right the Northcoast Explorers replacement value is in excess of £110k, we operate from Easter to the end of September & wish we could fill the boat at every trip but realistically can only expect to do so in July/August However we are prepared to take out a minimum of 2 passengers working on the theory that 1 satisfied customer will tell all his friends/relatives
6/7trips a day during peak season certainly makes you appreciate a light refreshment afterwards (essential to combat dehydration
Welcome Ali Jack

So how long have you been running the business?

I don't mean to cause offence but do you do it for the pleasure or the money? or do they both come as equal?

Any more pics of the boat?
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Old 22 September 2003, 16:21   #16
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No offence taken, we have been operating for 4 years but this has been our best year to date due to the exceptional weather
We do it for the pleasure & the money bearing in mind the boat has still to be paid for over the winter. We have been operating ribs in this area for many years mainly for diving but are also heavily involved with British Divers Marine Life Rescue, I am the North of Scotland Rescue Co-ordinator for BDMLR (hence the Pentland Knight our 8.5m Rescue Rib). We could see the potential for showing people the varied wildlife around our coast 15000+ guillemots breed on Stroma every year plus all the other migrating birds. Stroma is also home to approx 3000 grey seals
We saw the Ocean Dynamics Ribworker at Ribex 1998 & decided there & then that we had to have one. Tthe seakeeping ability of this boat has to be seen to be believed, we have had her out in Force 8/9, (without any passengers I hasten to add), bloody wet but very stable Not like a real job, definitely a pleasure
Pictures of boat on www.caithness.org website caithness.../pictures/northcoast marine adventures gallery
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Old 23 September 2003, 02:53   #17
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Hi Ali Jack and welcome to RibNet.

I can certainly tell you that Birian and Mike and Di were very impressed with their trip on your rib, thay also said it was fantastic value for money.

How about hopping into my SIB next time I cross the Pentland Firth in it?



Keith (it may be small but i've been there) Hart
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Old 23 September 2003, 03:15   #18
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John o Groats

Hi Keith
I would go in your SIB but only if the Explorer was coming behind. Most days in the Pentland Firth size does matter, blowing a 7/8 today not a good day for a crossing
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Old 23 September 2003, 03:56   #19
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Re: John o Groats

Quote:
Originally posted by Ali Jack
blowing a 7/8 today not a good day for a crossing
me me me

Don't you love the winter months

bad for business tho
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Old 25 September 2003, 16:22   #20
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Having been on the nothern explorer I for one can vouch that it certainly is £15 well spent.
unfortunatley it was a fairly calm day but still came back soaked.
I have been promised a ride on the pentland knight, (still take you up on the offer Ali, just in case you have forgot)
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