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Old 24 May 2004, 11:00   #1
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Non RIB related question: letting your boat (cruiser)

I am considering the possibility of letting out a beautiful 1930s 2-birth broads cruiser. I need to do a "feasibility study" before I can convince some investors (my parents) to cough up some cash to buy it!
Anyway, I was wondering if anybody knows anything about letting boats out in this country?
Apart from insurance and a certificate for the gas, what else do you need? (Does anyway know how expensive the insurance might be in comparison to regular insurance??)
Any help would be great
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Old 24 May 2004, 11:36   #2
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tim check out the insurance first no 1 priority
they will ask you what qualifications you are going to require before letting out the boat ,
public liability lots of it safety equipment lots of it
factor in all the damge its going to get,
and how quick it will devalue.cost of replacing engine parts/sails and damage to topsides and so on.
how many realistic days/weeks of the year you can let it
how much are other companies on the broads charging(can you compete)
do you need licence for hire?
where will clients collect/leave boat
does it need an inland waterways/ safety certificate
how much for moorings
what rate of interest will folks charge
argghhhhhh dont do it unless 100% sure it's gonna make some money
its a hard game and short season and if clients damage the boat and its out of action you will lose bookings and money
regards tim
www.griffmarineservices.co.uk
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Old 24 May 2004, 11:49   #3
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Thanks Tim.
I think insurance is going to be the big problem, as it is with all my amazing ideas! (Like the bouncy castle hire, the trailer hire, the baked potatoe trailer etc etc.....
As for licence, as long as you have suitable rier tolls paid you are OK. Moorings too shoulnd't be a problem.

If I don't hire it out I might just keep it for my self! Just got to conince the powers that be that it's a good buy.
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