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(Miami Herald)   New business model will let a complete stranger wreck your boat   (miamiherald.com) divider line 41
    More: Florida, South Florida, Dania Beach, same time, remix culture, boats, startup company, kayaks  
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2841 clicks; posted to Business » on 16 Sep 2013 at 1:27 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



41 Comments   (+0 »)
   
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2013-09-16 12:14:23 PM
They say the two happiest days of a boat owner's life are 'the day he buys the boat' and 'the day he sells his boat.'  I'd guess 'the day a drunken stranger manages to set it on fire by ramming a Coast Guard cutter, letting me pocket the insurance money' is probably in that list somewhere.
 
2013-09-16 12:26:05 PM
Boats go pier-to-pier, not peer-to-peer.
 
2013-09-16 01:29:35 PM
Who would want to use someone else's floating hi-top sneaker?
 
2013-09-16 01:29:49 PM
4 pages of you can rent a boat?

TLDR
 
2013-09-16 01:30:56 PM
Press release journalism.
 
2013-09-16 01:33:12 PM
Prestige World Wide!

Boats and Ho's, Boats and Ho's.
 
2013-09-16 01:48:34 PM
The thing about boats is, high class women love them, thus, I love boats.
/doesn't own one
/has friends for that
 
2013-09-16 01:50:54 PM
This is not even Vaguely new.  They are called "bare boat" (as opposed to "crewed") charters and I did that in USVI nearly 20 years ago.   Basically you show up, whoever is rentign the boat proves they know basic seamanship by sailing a boat around a preset course, and you get the boat.  Insurance is covered by the rental company who splits the rental fee with the owner.   Makes sense because the same kind of  guy who can afforrd a 40-ft yach berthed in St. Thomas is generally way to busy to use it for more than a few weeks a year.   The only thing potentially new here is cuting out the charter company middle man which is a BAD idea because they handle insurance, vetting the skills of the boat renter and rescuing the boat should something go badly
 
2013-09-16 01:55:58 PM
"It allows people to essentially boat for free," said Aaron Hall, CEO and co-founder of Boatbound

If by "free" you mean putting a large sum of money into a depreciating asset.
 
2013-09-16 02:05:46 PM

jjorsett: If by "free" you mean putting a large sum of money into a depreciating asset.


No, the person who is renting the boat out is essentially getting the boat for free assuming that they rent it out at least 5-6 times a month from the sounds of the rates. It doesn't sound like an awful deal as long as the agency is really taking the risk in turn for the 35% cut.
 
2013-09-16 02:10:24 PM

Magorn: This is not even Vaguely new.


uh, this. I have done this many times. The story here is that apparently Florida continues to be decades behind the rest of the world.
 
2013-09-16 03:13:18 PM
The first year you own a boat, you're out on the water every weekend. The second year, you're out about one weekend a month, after that you're making monthly payments for it to sit in your driveway year round. Same story with everyone I've ever known who bought one, never fails.
 
2013-09-16 03:16:58 PM
I prefer to personally wreck my own boat, thank you very much.
 
2013-09-16 03:18:28 PM

jjorsett: "It allows people to essentially boat for free," said Aaron Hall, CEO and co-founder of Boatbound

If by "free" you mean putting a large sum of money into a depreciating asset.


Only if you don't rent it often enough to cover costs. It's like owning a house that you rent out. You cover the mortgage and a little for taxes and maintenance in the rent, and you can have the house pretty much for free. Hell, you can even make a small profit, but the biggest benefit of renting is to have multiple house to sell when you retire, and having had pretty much everything paid for by tenants in the meantime. Same plan with the boat, if it rents enough to cover slip fees, fuel and maintenance, plus depreciation costs, you're good.
 
2013-09-16 03:34:23 PM
Much like North Carolina beach-house investments, this ONLY works out well for the boat owner if he can reliably rent-out the boat as often as needed to cover the payments.  If he can't then he's on the hook for huge monthly bills for something that he may or may not actually have any personal interest in owning or using.

Since that outcome is of dubious certainty, it's not a good idea for most people.
 
2013-09-16 03:40:37 PM
Is T-Pain included?
 
2013-09-16 03:50:24 PM
this is what happens when you find a stranger in the aft!
 
2013-09-16 03:51:30 PM
 
2013-09-16 03:51:42 PM

Rapmaster2000: I prefer to personally wreck my own boat, thank you very much.


I hit a refrigerator one day that had been tossed in the river and was about 6 inches down. Tore the out-drive right off.
 
2013-09-16 03:56:26 PM
Until I for some reason have a job where a boat is the most reasonable commuter vehicle, I will never, never, own a boat.
 
2013-09-16 03:57:07 PM

jjorsett: "It allows people to essentially boat for free," said Aaron Hall, CEO and co-founder of Boatbound

If by "free" you mean putting a large sum of money into a depreciating asset.


I own a 2002 Hunter 326. I can charter her out for ~$2,500 a week up here in the Puget Sound (meaning I'd get $1,500 a week). Most boats that size, and the condition she's in typically book out most of the summer, so I could easily expect 15 weeks of rental. The chartering facility covers all maintenance and slip cost. Since I purchased her for $60,000, I'd expect to see about $22,500 a year in revenue.

Of course, then you start to get into tax issues of wanting to create a separate LLC to own & maintain the boat, increased insurance cost, and the very real issue of lots of other people using and farking up your boat. Plus the fact that you'd have to find a decent dock/slip for the rest of the year, which can be difficult in this region. All-in-all, chartering would be a lot of hassle

After weighing the pros/cons, and considering I've invested a fair amount into equipment into a largely cherry boat (no dents, dings, chips on the exterior fiberglass or the interior teak + only 220 hours on the engine), I decided I'd much rather have my boat available for my exclusive use year-round.

/leaves Wednesday morning for a month-long sail into Canada's Desolation Sound
//would cost me $10,000 if I were chartering someone else's boat
 
2013-09-16 04:29:30 PM

Mikey1969: jjorsett: "It allows people to essentially boat for free," said Aaron Hall, CEO and co-founder of Boatbound

If by "free" you mean putting a large sum of money into a depreciating asset.

Only if you don't rent it often enough to cover costs. It's like owning a house that you rent out. You cover the mortgage and a little for taxes and maintenance in the rent, and you can have the house pretty much for free. Hell, you can even make a small profit, but the biggest benefit of renting is to have multiple house to sell when you retire, and having had pretty much everything paid for by tenants in the meantime. Same plan with the boat, if it rents enough to cover slip fees, fuel and maintenance, plus depreciation costs, you're good.


If you consider this as an investment (I know some people probably don't, thinking of it more as a way to mitigate the costs involved in owning a recreational item), you need additional return to compensate you for your opportunity costs, cost of money, and the risk you're taking (maybe people will think your boat sucks and you won't be able to rent it very often), plus a profit. Not trying to throw cold water on the idea, I'm just in a green eyeshade mood today.
 
2013-09-16 04:36:11 PM

MrSteve007: /leaves Wednesday morning for a month-long sail into Canada's Desolation Sound


nice. been up there a few times. be sure to check out Teakerne Arm, off West Redonda Island, the arm ends at a waterfall with a nice lake behind it.
 
2013-09-16 04:38:21 PM

johnsoninca: Boats go pier-to-pier, not peer-to-peer.



good one.   what ever floats your boat.
 
2013-09-16 04:39:10 PM

ReapTheChaos: The first year you own a boat, you're out on the water every weekend. The second year, you're out about one weekend a month, after that you're making monthly payments for it to sit in your driveway year round. Same story with everyone I've ever known who bought one, never fails.


sounds like the boat owns the owner.
 
2013-09-16 04:43:24 PM
Goes back to a bit of wisdom I got from a WW2 warbird restorer.

If it flies, floats, or farks, it's cheaper to rent.
 
2013-09-16 04:52:15 PM
Business Model? Boat wrecking?

images1.wikia.nocookie.net
 
2013-09-16 05:34:10 PM

hockeyfarker: nice. been up there a few times. be sure to check out Teakerne Arm, off West Redonda Island, the arm ends at a waterfall with a nice lake behind it.


You mean this lake?
fbcdn-sphotos-d-a.akamaihd.net

And this waterfall?
scontent-b.xx.fbcdn.net

I believe I went to that spot last year, and can't wait to go back!
 
2013-09-16 05:57:13 PM

MrSteve007: [scontent-b.xx.fbcdn.net image 640x960]


Cutter rig?  Teak deck?  I thing someone lied to you when they said it was a Hunter 325
 
2013-09-16 06:22:01 PM

IoSaturnalia: Cutter rig? Teak deck? I thing someone lied to you when they said it was a Hunter 325


Heh. I'd be pretty psyched to be accidently sold a '43 Hans Christian.
fbcdn-sphotos-c-a.akamaihd.net
I went up to Desolation Sound last year as part of an advanced coastal cursing class & flotilla. I opted to go only on one week of the 3-week flotilla. This year I'm bringing my own boat.

/I damned near got run over in the dingy to snap the above shot.
 
2013-09-16 06:45:40 PM

MrSteve007: I went up to Desolation Sound last year as part of an advanced coastal cursing class >>> my own boat.


Familiar story.  I took the ASA classes out of Bellingham one summer and by the next summer I was the owner of a Catalina 380.

And can curse like a sailor as well - the class was a big help.
 
2013-09-16 07:08:27 PM

IoSaturnalia: MrSteve007: I went up to Desolation Sound last year as part of an advanced coastal cursing class >>> my own boat.

Familiar story.  I took the ASA classes out of Bellingham one summer and by the next summer I was the owner of a Catalina 380.

And can curse like a sailor as well - the class was a big help.


San Juan Sailing?
 
2013-09-16 07:23:38 PM
Bust out another target market..
 
2013-09-16 07:27:11 PM

MrSteve007: I went up to Desolation Sound last year as part of an advanced coastal cursing class & flotilla. I opted to go only on one week of the 3-week flotilla. This year I'm bringing my own boat.


Advanced Coastal Cursing Syllabse
I. farking square sails
II. Schooners & shiat
III. biatching Block & Tackle
IV. Tacking like a twat
V. Anchors are assholes
 
2013-09-16 07:47:33 PM

toraque: They say the two happiest days of a boat owner's life are 'the day he buys the boat' and 'the day he sells his boat.'  I'd guess 'the day a drunken stranger manages to set it on fire by ramming a Coast Guard cutter, letting me pocket the insurance money' is probably in that list somewhere.




3rd happiest day is when he gets to nail Judge Smalls niece Lacy.
 
2013-09-16 09:08:39 PM

HempHead: toraque: They say the two happiest days of a boat owner's life are 'the day he buys the boat' and 'the day he sells his boat.'  I'd guess 'the day a drunken stranger manages to set it on fire by ramming a Coast Guard cutter, letting me pocket the insurance money' is probably in that list somewhere.

3rd happiest day is when he gets to nail Judge Smalls niece Lacy.


Ahoy, polloi.
 
2013-09-16 09:31:16 PM
i like boats
 
2013-09-16 09:54:09 PM
i42.tinypic.com
Yargh, I'm a pirate. Or at least that's what my friends call me. The the truth is that you've rented your $200k pride and joy to man who couldn't find his own aft with two hands and a map. So, don't be surprised when I've stuck the pointy bit into some one else's left side. And with your cut rate insurance, you could be paying for this yourself. So get Allstate. You could save money and be be better protected from mayhem like me.
 
2013-09-16 11:18:26 PM
Then there's the boat payments, storage fees, fuel, maintenance and repair - these costs can quickly sink the dream of boat ownership.

Oops. TFAuthor should have taken a cue from the real estate industry - boatownership should be one amalgamated word, just like homeownership.

I don't even want a boat, for just this reason. A canoe or kayak would be more my style. Anything that incurs "storage fees, fuel, maintenance, repair, [I'll add] insurance, and licensing..." fark that noise. I've already got two cars. I'm a simple man.

/I do, however, own a TV.
 
2013-09-17 01:23:04 AM
assets.amuniversal.com
 
2013-09-17 04:47:09 PM
I have a boat?
 
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