Calling all Charter owners or captains who have the answers!

[BlueH20Boss]

Hey guys...As seen in the thread title, I am looking for a little bit of information from you guys who own or operate charter businesses, most specifically in NJ, but anyone else is welcome and appreciated to help me along....

OK, I know I will get jumped all over about how hard running a charter is these days, fuel prices, no clients, blah blah blah...please leave your negativity out, as that is not what I am looking for.

I have found a small nitch market for some inshore chartering where i live, mostly back bay stripers, flounders, tog, etc. and I was interested exploring what legal actions I need to take to legally take people fishing and get paid for it. I would also run tuna/shark charters if someone wanted to go, as that is more my specialty, so any insight on setting up a little business would be great.

-I have an oupv/twic/drug card/ cpr card
-I have a vessel- 17' whaler and 28' single screw diesel(Friends boat who is interested in using his boat for the business also)
-I live 3 miles from the marina
-I have a college degree and good social skill sets
-I have enough gear and tools to start tomorrow


What do I need to do, set up an LLC in the charters name? What about liability insurance? Any other insurances or licenses needed? This is where the NJ guys would really help!

I am not going to break into chartering as a 100% full time job, I just have the opportunity to make a little side cash by taking people out doing what I love. (I know there is not a lot of money in it these days, and its not worth it to most guys, but I refuse to take on that attitude about it, and I want to pursue this lifelong dream of mine.)......with $5/gallon fuel in the near future, single screw diesels are looking like the only charter platforms who will be able to afford it, so that gives me a little hope haha!

Thanks,

Kevin

[Captain Rich Adler]

Kevin- It's very easy, if you want to make $100,000 per year in the charter industry...... be prepared to invest $200,000. You can work the numbers up or down.

[Captain Rich Adler]

Yes, LLC, HMS permit, dolphin/wahoo permit, groundfish permit, drug testing, mercantile liscense for the city, tax ID # for the state, and the Feds. Let me know when you have digested this and then I'll give you the bad news.

[Captain Rich Adler]

Oh did I mention shrinking limits and catch shares??

[Captain Fred Archer]

Sadly, Rich, so true and on top of that, getting harder yet as economic, political, and environmental factors continue to mitigate against this type of business. As popular charter captain and TV personality Norm Isaacs once said with tongue in cheek when someone asked him what he'd do if someone gave him a million dollars..."Why, I'd just keep charter fishing until the money ran out."

Facts are, there are still places in the world where charter operations can run in the black, but still, they are not places to make a lot of money. As many charter captains will tell you, love of fishing and taking people fishing is the primary reward in this kind of business.

Our understanding of how difficult this business is is the reason why we offer a special discount to any and all charter captains who buy our products.

My hat is off to every charter captain who tries to make his dreams come true.

[BlueH20Boss]

So rich, why do you do it then?

[BlueH20Boss]

Also, my main goal here is to become legal to take people because I would be going whether I had a client or not. If i was fun fishing in the same spots during the same times, why wouldnt I take some income in from friends/clients/ or whoever steps on my boat to go fishing. It does not sound that far fetched to me. Some of you guys are just so distraught about the industry and your own businesses that it is made to sound impossible for any newcomer.....The economy does not just affect sportfishing..... Yes the current administration is putting a choke hold on some of our fisheries, but i find it very hard to believe that every guy with a charter book is putting out twice the money they are getting out, that sounds pretty insane to me..... I dont know if you are including the investment of a boat or gear in there, but my only expense besides licenses are bait and fuel. And flounder fishing the bay does not drain my fuel tank. I appreciate everything you guys have said thus far, but in 4 posts 3 of them have been the same negativity I am trying to get past..... So a flounder/striper/seabass/tog permit is going to cost me my right arm? I know i can set up an LLC and tax id # with my accountant for 225$ What else is breaking the bank on getting legal?!?

Thanks ,

Kevin

[Captain Rich Adler]

I'm not distraught, just trying to give you the facts in black and white, like you asked for. Couple more thoughts that occur to me

1. the friends who you are taking fishing now are not going to become paying customers.
2. when you charter the customers are going to expect matched sets of equipment , more tackle outlays.
3. complete safety package on board, more $'s spent.

Fred- Happy and Healthy New Year! Tried to meet Black Bart over X-Mas week, but he was never in the office when I stopped by, tried 3 times. Had to stop going, I was afraid I was going to blow all my fishing money!!

[capt.brian]

PM sent

[BlueH20Boss]

Rich, like i asked before.....WHY do you bother chartering then if it just loses you time and money???

in response to your other thoughts:

1- My father is in real estate down here, and has dozens of interested parties who are looking to get out with me, some yes are 'friends' but they are friends with money and guys looking for a more unique business trip or outing besides playing 18 at great Bay.... So yes, I do believe I will have a nice start out clientele, and yes some of them are friends, and WILL Pay.

2- I assure you that i have matching equipment. I have been offshore/inshore fishing since I was 5 and have been building my equipment up since a young age. Even if three of my avets are blue, and 3 of them are silver, I'm not so sure my customers will complain.....

3- I have all the safety equipment to get me and my family to the canyons and back, including raft, epirb, first aid, etc etc etc..........You cannot phase me...I am ready to fish, I want INFO ON LEGAL PERMITS and/or actions I need to take to be on the up and up to take paying customers.

Like i said, I have a nitch market of customers, and i never said i wanted to get rich chartering. Even in my first post I tried to deter all the BS about how chartering sucks balls.......I know, and i still want to do it. So any help on the matter or just more roadblocks??

Tell me about your charter business......Im intrigued to see how to set it up, not in hearing about how much it sucks.

By the way, I finally got my 13 whaler painted with the awlgrip using your tips, it came out great. (And i do appreciate all your insight thus far, but please try to help, not hinder) I could take people to the baltimore, 6 man raft, epirb, matching penn V's on MATCHING custom rods, or take you right out the lagoon and bottom fish for flounder...........I am set up 100% to do it myself with my friends and family, so I still do not understand why it is so impossible to add a few charter clients to my list......

Clients are the key.....And I would not be trying to start this is I did not have them lined up. If I have a number of people who are a go, why would i not try to pursue it? Inshore fishing is a lot cheaper than offshore, and that is where I am going to focus. I just spoke to a fellow member who got completely set up on a small boat inshore charter for $2500.00.. those numbers are not that theatening to me considering 4 or 5 six man striper trips will cover that..... Come on Rich, give me some faith my friend!