Yacht charter company | A-TECHS
Yacht charter company

Business description:


Yacht charter company :

  • In possess of 20 sail boats for renting out.
  • Operates as Yacht agency. Searching and booking a boat all around the world.
  • Events and regattas organizers.
  • Owner’s boat management
  • Maintenance and repair.  

Business operations. A-Techs main goal.


Yacht management is a capital-intensive business with a large number of nomenclature and third-party services necessary to maintain the yacht in a certain condition, acceptable to the client.

Aging a yacht reduces its consumer preference and market price. Small charter companies have no market power to influence price. Also, maximum sales are limited by the duration of the season.

That’s why there are two levers that are common for the successful conduct of this type of business:

  1. Rental of the fleet in relation to the max duration (ex. hot season).
  1. Fleet maintenance costs in relation to the rental price of each boat or yacht.

Most of the time company’s management is mainly focused on the first point rather than on the second.

Rental of the fleet can be easily adjusted by the sales department, but the maintenance cost is way more complicated subject to manage.

Employees deal with a large number of items that are used in the operation, maintenance and repair of yachts. In the absence of proper accounting of all expenses and their ratio to the sale price of boat rental, it is very difficult to track profit. The task is getting way more complicated because of the boats wide age difference, sizes and the running characteristics. That’s why it is important to allocate costs for each yacht and the ratio of their costs to the price of its rent.

The main accounting goal: Gathering information about business operations and generating reporting information on key indicators for its management.

Additional goal: reduction of time spent by management on reporting.

Objects:


Yachts, Clients, Booking, Agencies, Partners, Damages, Bases, Storages, Prices, Stuff (materials, equipment, tools) CleaningSet; CleaningStuff; Documents; Electronica; Equipment; Extras; FLAGS; IT Equipment; Kitchen stuff; Office; Office inventory; PROMO; Sails; Service; Spare-parts; Stuff; Tools)

Operations:


1) Booking requests – Charter contract (Company’s fleet / Other boats)

2) Client payment

3) Agency money transfer

4) Check in. Giving the boat to a client, additional stuff sales, collecting a deposit.

5) Check out. Inspecting the boat after the charter period (Damage evaluation, repair cost calculation, client check out, refund of a deposit)

6) Maintenance cost calculation

7) Purchase

8) Inventory use /transfer

9) Money conversion

10) Payroll

11) Prices adjustment (booking/services/deposits)

Results:


  • Actual owner’s report for strategically correct path of expanding;
  • Booking schedule;
  • Booking balance of payments;
  • Income / expense correlation for each yacht, net profit calculation;
  • Operational report on the costs of managing the yacht to the boat owner – the report is generated in one click (for the Boat management service);
  • Reduce cost errors in operations when settling with clients, especially in case of assessing damage and returning deposits;
  • Special event’s cost management (ex. Regatta, Flotilla …);
  • Control, management and cost reduction;
  • Assessment of the profitability of sales / business;
  • The ability to evaluate management work;
  • and other customizable reports and indicators for any clients needs