Charter Boat Business Plan Template [Updated 2024]

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I. Executive Summary


You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Business Overview

[Company Name], located in [insert location here] is a new charter boat company that focuses on providing a variety of charter boat rentals for experienced and novice sailors alike. The company has a small fleet of charter boats including yachts, catamarans, sailboats, and motor boats. [Company Name] aims to be the most fun charter boat company with the best customer service around.

Products Served

[Company Name] will provide the following different types of charters:

  • Bareboat charters that allow experienced sailors to rent the boat and sail themselves
  • Skippered charters for the novice sailor or for a relaxed sailing experience
  • Full crew charters that provide meals, lodging, and activities
  • Party and corporate event charters complete with full crew to provide all the planning, accommodations, and activities for special events onboard the yacht

Customer Focus

[Company Name] will primarily serve residents and tourists within a 30-mile radius of the location. The demographics of these customers are as follows:

  • 50,000 tourists to the area last year
  • 200,000 residents
  • Average income of $66,000
  • 49.3% married
  • 40.5% in management/professional occupations
  • Median age: 40 years

Of the above target market, a significant portion of the population spends thousands of dollars per year on leisure activities.

Management Team

[Company Name] is a family-owned and operated charter boat business that is owned by [Founder’s name] and his immediate family members. The business will be managed by [Founder’s name] and his son [insert name]. [Founder’s Name] is an experienced charter boat captain who has been working in the charter boat industry for more than 20 years as a skipper and tour guide. While [Founder’s Name] has never run his own company before, he has vast experience and first-hand knowledge of how to run a successful charter boat business from his time working for a local charter boat tour company. He also has a bachelor’s degree in Business and has working knowledge of sales and marketing techniques that he can leverage to promote the new company.

Success Factors

[Company Name] is uniquely qualified to succeed due to the following reasons:

  • The Company will be providing a valuable service for residents and tourists in the area that are looking to take advantage of the local oceans and waterways [location] has to offer.
  • [Company name]’s location is situated adjacent to a busy tourist destination with lots of foot traffic from both tourists and locals. In addition, the founder surveyed the local community and received highly positive feedback pointing towards a demand for charter boat experiences and an excitement about using these services after the new business launches.
  • The founder has a track record of success in the charter boat industry and is a proven expert in the field.
  • The charter boat is a proven business model that has succeeded in communities throughout the country.

Financial Highlights

[Company Name] is seeking a total funding of $3,000,000 of debt capital to open its charter boat company.

  • Dock and office design/build: $1,500,000
  • Equipment and supplies: $1,000,000
  • Working capital: $50,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

Financial SummaryFY 1FY 2FY 3FY 4FY 5
Revenue$560,401 $782,152 $1,069,331 $1,379,434 $1,699,644
Total Expenses$328,233 $391,429 $552,149 $696,577 $776,687
EBITDA$232,168 $390,722 $517,182 $682,858 $922,956
Depreciation$7,000 $7,000 $7,000 $7,000 $7,000
EBIT$225,168 $383,722 $510,182 $675,858 $915,956
Interest$6,016 $5,264 $4,512 $3,760 $3,008
Pre Tax Income$219,152 $378,458 $505,670 $672,098 $912,948
Income Tax Expense$76,703 $132,460 $176,985 $235,234 $319,532
Net Income$142,449 $245,998 $328,686 $436,864 $593,416
Net Profit Margin25%31%31%32%35%
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