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Old 15 May 2016, 03:53   #11
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Country: UK - Scotland
Boat name: imposter
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Originally Posted by Tim M View Post
If your engine goes bang and needs replacing finding £15-£20k for a replacement often isn't an option.
As you presumably discovered - you don't have a choice - people won't pay to sit on a boat with no engine!

Quote:
Business models and business plans are all very well, but for the small operator/one man band it is often a very hand to mouth existence especially when starting out. I've been there.
The link Iankristy provided is helpful advice for anyone setting out. I'd say that anyone who ignores that advice because they are too small - isn't running a business. Fortunately Islandflyer seems to have his head switched on and be trying to manage that risk. I know some operators will have a spare engine in the "garage" because it can be swapped over in an evening and the boat is back on the water the following day allowing the other one to be repaired. Given Islandflyer's location I imagine getting parts, and new engines might not be quick...
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Old 15 May 2016, 04:03   #12
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I know some operators will have a spare engine in the "garage" because it can be swapped over in an evening and the boat is back on the water the following day allowing the other one to be repaired.
Good advice and gives you the opportunity to stretch the hours more on the basis you have a contingency. There are a couple of seafaris in Cornwall that are running engines with almost 3k hours on. Clearly it helps to be able to do your own engine work if you adopt this approach getting a dealer to support you mid season at short notice is not going to be easy.
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Old 15 May 2016, 05:20   #13
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Quote:
Originally Posted by Poly View Post
As you presumably discovered - you don't have a choice - people won't pay to sit on a boat with no engine!


The link Iankristy provided is helpful advice for anyone setting out. I'd say that anyone who ignores that advice because they are too small - isn't running a business. Fortunately Islandflyer seems to have his head switched on and be trying to manage that risk. I know some operators will have a spare engine in the "garage" because it can be swapped over in an evening and the boat is back on the water the following day allowing the other one to be repaired. Given Islandflyer's location I imagine getting parts, and new engines might not be quick...
In that case, according to the above there are lots of operators out there who aren't running businesses
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Old 15 May 2016, 05:42   #14
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Quote:
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In that case, according to the above there are lots of operators out there who aren't running businesses
Yip - and if they have a major engine failure with no contingency they quite literally will be out of business. Ironically, I suspect a lot of those guys are undercutting each other and the more serious operators.

As Chris commented, even following the suggested approach isn't going to make anyone rich:
Quote:
Originally Posted by Chris
Based on the examples that they give then £11,349 of retained profits is not going to pay the mortgage
[Although Retained Profit is what the business keeps, presumably for exactly this type of scenario, or eventually replacing the boat etc - the "Owners Drawings" was £20k in that example, and he is paying crew.]
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Old 15 May 2016, 17:11   #15
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Town: Nassau, Bahamas
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Thanks guys for the lively discussion!

Hopefully I have my head screwed on right!

I happened to be using the boat when the starboard engine passed 3000 hours, and the next trip out we had to replace the powerhead with a used one the dealer had to get the boat up and running (still waiting to see what happened to the other powerhead).

Few days later I am running the boat (yesterday) and something happened that put us out for today and probably through Tuesday with the port engine, which I also watched just past the 3000 hrs. They just came out of 300hr service, but did one trip before I used the boat. It's also a long holiday weekend so the dealers are closed.

We have in the business plan the hourly reserve, but I was expecting another 500-1000 hours out of these.

I guess the question is whether to keep repairing and getting hit with costs, downtime and cancellations vs shelling out for new engines now. I will have to take out a loan to finance the engines.

I would also go to 300hp from the 250hp. I've been told this would be better for the boat performance, fuel usage, and longevity of the motors (assuming same cruising speed of 32-34 knots).

It's not all bad:
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Old 16 August 2016, 16:46   #16
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Purchase a warranty plan. Simple solution. Your engine goes pop and for the sake of £1500 warranty you get a replacement part. Eg we blew a piston at 1500hrs. The warranty company covered a new powerhead and we were able to keep the old powerhead = loads of parts!!
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Old 30 August 2016, 20:37   #17
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Unfortunately no warranty plans here.
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Old 31 August 2016, 04:56   #18
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Unfortunately no warranty plans here.
Id love to see a warranty plan that covered 3000 hour engines for commercial use !! I doubt it would give you much peace of mind
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Old 31 August 2016, 05:03   #19
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Posts: 4,011
I would have thought for any commercial operator having some training to be able to do some quick fixes such as swapping over a gear box or plugging in the software to trouble shoot any problems would be a worthwhile investment of time. It took me an hour to remove and re-attach the gearbox off a G2 that had a damaged leg spacer the other day. These modern engines are actually quite easy to work on !
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Old 11 November 2016, 16:39   #20
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Id love to see a warranty plan that covered 3000 hour engines for commercial use !! I doubt it would give you much peace of mind

I can assure you Chris this company does. It's a brilliant policy.
https://m.boatsandyachtswarranty.com/
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