Charter Boat Business Plan Template [Updated 2024]

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V. Competitive Analysis

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

Direct & Indirect Competitors

The following businesses are located within a 50-mile radius of [Company Name], thus providing either direct or indirect competition for customers:

Ocean Champion Charter Co.
Ocean Champion Charter Co. is a charter boat company in [location]. In business for over 50 years, Ocean Champion Charter Co. offers bareboat charter rentals to experienced sailors in the area. Sailors can choose from a large fleet of charter boats including yachts, sailboats, motor boats, and catamarans in multiple models and sizes. This charter company rents out its boats for the day or the week.

Although this charter boat company is a top choice for many sailing enthusiasts around the area, it caters to skilled sailors and does not offer options like skippered boats or crew-led tours that the general population can enjoy.

Calming Charter Boats
Calming Charter Boats is another local charter boat rental business. The company is mostly known for its sailing yacht charters and whale watching tours. They are a full-service option for any skill level from the captain to the novice sailor. Calming Charter Boats provides skippered tours, group charters, and corporate event hosting on its premier yachts.

Although this company provides a wide range of services and charter options, its fleet is composed entirely of sailing yachts. It does not have any other type of boat for customers to choose from. Additionally, this is the most expensive charter company of all the competitors.

Charlie Charter Boats
Charlie Charter Boats is also a local charter boat company that offers a variety of charter boat rental options. This charter boat company opened in 2017 and has since grown to become one of the most popular charter boat options in the area. Charlie Charter Boats offers fully-crewed boat tours to multiple destinations in the region for groups and families. The company also provides bareboat rentals for skilled sailors who prefer to man the boat themselves. Charlie Charter Boats has a fleet of 17 boats including yachts, sailboats, and motor boats.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. Those advantages include:

  • Location: [Company Name]’s location is adjacent to a popular tourist destination and a busy shopping district with lots of foot traffic.
  • Customer-oriented service: [Company Name] will have a full-time assistant to keep in contact with clients and answer their everyday questions. The management team realizes the importance of accessibility to their customers, and will further keep in touch with their customers through monthly newsletters on topics of interest.
  • Management: The founder has been extremely successful working in this industry and will be able to use his previous experience to craft customized charter boat tours that suit a variety of customer preferences.
  • Relationships: Having lived in the community for 35 years, the founder knows many of the local leaders, newspapers, and other influences in the area.
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