Should I buy a charter business?

[HOT PURSUIT CHARTERS]

If I didn't have a retirement income, and a retirement job to suppliment my vice, and a wife who supports me throwing money away, I couldn't afford the small charter boat that I run by myself. I've talked to other charter boat captains with larger boats with a larger books who have been doing this for years, and their payday is April 15th, when they get money back on their tax returns. With bad economic times right now, it only gets worse. My little business is off by more than 50%.
I do it because I love to fish and can afford (somewhat) to keep throwing money into it. I have never made a profit, but most years the money I make pays for my slip, insurance, and a little gas, but nothing else. I would starve and be homeless w/o my other income. I don't know how some of these guys do it.

[humpndunk]

Okay, everyone seems to be on the same page here: Charter fishing is not a moneymaker. That was pretty much my thought, but a couple of the charter businesses I've looked at for sale claim otherwise. I wanted to hear some unbiased opinions from people like yourselves. Thanks guys.

[hotshot1]

Not in the business but i think alot depends on you expectations for revenue. What are you goals and needs.

[nautiduck]

Ive thought about it for years I have had friends try it it not so sucessfully, seems most of the successful ones are usually associated with some other waterfront business or are owned by Mister Rich that uses it to write off his toy and I dont mean any disrespect by that. I believe the quote is "If you want to make a small fortune in the charter boat biz, start with a large one." If it truly was succesful they wouldnt be selling they would be on the Islands with someone else running their business.

[bigeasy]

for charter boaters. If you are serious wait a year or so and you should get a great deal on a bankrupt business in a distress sale. Perhaps a bank auction.

Nancy Pelosi is holding firm on no drilling. She may bring down the whole country.

[perfectscore]

is that an oxy moron or what. I wouldn't be in the charter boat business even in good times, i did hear that in a good year a charter boat captain makes about as much a talented poet or playwright but at least you'll have earned the right, as most captains, to sound real bored while chatting on the radio, or laugh at all the week end warriors steaming down the parkways and expressways to wet lines that u know are empty, but hey it is worth the price of ulitmate bankrupty. charterbiz, naw