to the tax advantages. (Again, talk to a tax professional to sort out the pros and cons.) To get another perspective we checked in with Barney Crook, founder and general manager of TMM Yacht Charters, one of the oldest top-tier bareboat operators in the British Virgins — now with bases also in Belize and the Grenadines. "Our management program is very straightforward and is basically the same as it has been for the past 30 years. We take a 25% commission for the sale of the charter and credit the remaining 75% to the owner," he explains. That income is offset by costs incurred such as dockage, utilities, "turn around fees," parts and labor. TMM has no restrictions on owner use, and offers this interesting variation: "If the owner is able to promote charters themselves and handle all paperwork, money collection, etc., there is no commission charged." (TMM specializes in catamarans, and is a dealer for Lagoon, Fountaine-Pajot, Matrix, Nautitech, Beneteau & Jeanneau.)
Conch Char ters is a small company with a relatively large fleet that's been operating in the BVI for 25 years. According to Andrew Waters, one of several onsite managers, their management program is similar to others, in that the majority of revenue a boat earns goes to the owner, with normal expenses deducted. One thing that's unique about Conch, Andrew says, is that "if owners need to discuss some issue concerning their boat, they can talk directly with a manager." Although Conch gets some new boats, most of their fleet is around five years old. The number of five- to six-year-old boats that have been moved out of the large international bareboat fleets dur-
SUNSAIL
OF CHARTERING
You might think owning a big cat like this is out of your league, but the numbers change dramatically when it's in a charter fleet.
ing the past 20 years has created a lively second tier of smaller companies that market charters at appropriately lower rates. This practice has created another win-win situation, because the buy-ins are substantially less for potential investors, and bargain-minded vacationers can take life-changing vacations that they might not have been able to afford
Most charter companies offer blue water & palm trees, but it takes the personalized care of people like Marisa to make your vacation a success.
Tortola BVI Belize The Grenadines
UNIQUELY
TMM
Like Marisa, everyone at TMM is committed to your complete satisfaction. Our specialized threelocation operation offers large company quality with small company service. A combination that is uniquely TMM.
Since 1979
1.800.633.0155 www.sailtmm.com Marisa TMM Belize
catamarans • monohulls motor yachts ownership programs
July, 2012 •
Latitude 38
• Page 119