Fishing Charter Business: How to Start Your Own Charter Fishing Business

fishing boat
A highly lucrative venture that feeds off tourism is charter fishing business. The business attracts fishing enthusiast, leisure and fun seekers.
You need serious cash to start a charter fishing company. The reason is based on the huge expenditure spent in purchasing a boat.
A very small fishing boat could cost over $100,000 to purchase. You need to invest in fishing gear, safety equipment, pay docking charges and open an office.
Other expenditures include registering the business and insurance cover. You need the prerequisite permits and licensing to run a charter fishing business.
Very few entrepreneurs can afford such expenses. This opens the door for huge profit making. To run the business you need to find an ideal location and join boat associations.
Before starting the charter company, write a business plan and an effective marketing strategy. Make sure safety is your priority by providing good safety protocols.
Here are a few ideas on how to start your own charter fishing business.
How to Start your Own Charter Fishing Business
Apply for Loans
You need lots of fixed and working capital to run a charter fishing business. Apply for bank loans from a few financial lenders in your area.
You need to put-up about 1/3 of the total investment needed to start the enterprise. Without the seed money and good collateral banks would be reluctant to facilitate the loans. The funds are for purchase of a boat, wages, permits and licenses.
Boat Choice
Purchase a boat with dimensions not less than 25 feet. You need a certified boat captain and deck hand. Make sure the boat is fitted with the appropriate fishing gear and cold room.
Write the Business Plan
Make sure the charter boat business plan covers funding, marketing and registration. Other things in the plan are staff wages, leasing an office and location. A good knowledge of rich fishing pools will improve your client’s experience.
Pricing
Price your trips appropriately and take into consideration what others charge. The pricing should cover diesel, dock charges and other liabilities.
Develop a price schedule that reflects all the parameters for profitability. You can organize excursions, private trips and group trips.
Register the Business
Register the boat name and your business name. Make the business a limited liability company and apply for captain license. Get a good insurance company to allocate business insurance.
Advertise the Company
Find the perfect location to run your enterprise. You need lots of regular customers to make profit. Make sure tourist companies, hotels and guest houses know about your business.
Place billboards at strategic tourist location to attract customers. Market the business to boat clubs and sport fishing organizations.
Build a Website
You can build a website for your charter business. Include beautiful fishing destinations and happy testimonials.
Add your contact details, email address and a dedicated telephone number. You can involve local inhabitants to improve the tourist’s experience.
Use traditional marketing channels such as posters, billboards and business cards. Try a few advertisements in newspapers and fishing magazines. And make sure you abide by maritime laws and conservative provisions guiding sport fishing.

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