Program Details

Step 1: Charter Reservations Estimate

Upon deciding that you want a charter catamaran in service in Tortola, we will provide you a proven & tested projection based on the model you have chosen for charter. Some models generate higher income than others. Some Owner layouts will outsell charter layouts or reverse. Depending on current availability of the model in Tortola, the amount of models already available determines your charter price.

Upon receiving the charter projection we will estimate your charter price and amount of weeks you could earn. An example of how it shows is below: The example below is taken from a Lagoon 450 3 Cabin owner's layout.

Projected Annual Income      
Weeks of Charter   26  
Average Weekly Charter Rate
High Season Rate $10,000 8 $80,000
Mid-Season Rate $9,400 7 $65,800
Mid / Low Season Rate $8,500 6 $51,000
Low Season Rate $8,000 5 $40,000
Average weekly Charter Fee $9,108 26  

Gross Annual Estimated Charter Income


Step 2: Charter Fees

The British Virgin Islands is so popular that many first timers who charter become repeat charterers. We have a very loyal customer base. Our guests come back year after year as our charter guests feel comfortable with our customer service, product and charter service. As a reward to our guests, a common repeat charter discount is traditional of 10%.

Our management fee is 23%. Therefore this amount is deducted from the Gross Annual Income.

We promote Owners to advertise their charter catamaran to friends and family to ensure you can earn referral fees which provide extra income to your Net income.
It is also estimated that industry charter brokers will book your Catamaran and it is estimated that up to 3% of your charter bookings will be generated by and outside charter agent. It is customary to offer repeat charter agents a 15% booking commission.

See example below:

Total Discounts, Fees and Commissions
Owner's Charter Referral Fees 2.5% $5,920  
Charter Discounts 10.0% ($23,680)  
Management Fee 23% ($48,582)  
Charter Broker's Commissions & Misc. 3% ($7,814)  
Total Discounts, Fees and Commissions     ($74,156)
Net Owner's Revenue     $162,644

Step 3: Fixed Charter Expenses

Every month the owner will be billed for dockage, water and electricity. This is a fixed cost as we have reserved a permanent slip for you located at Hodges Creek Marina.
The dockage for Lagoon models is $19 per foot per month. For the new Gemini Legacy catamaran dockage has been negotiated at $12 per foot due to her beam of 14ft - similar to a 40ft monohull

The below example is for Lagoon 450 3 Cabin owners layout.

Fixed Monthly Expenses
Monthly Dockage 45 Foot $19.00 ($10,260)
Dock Water 200 Gallons $0.12 ($288)
Dock Electricity 125 Month   ($1,500)

Step 4: Charter Related Expenses

Every charter that is operated out of the base will have charter related expenses.
The fees are as follows:

  • Turnarounds

    The base in Tortola has hired expert staff to ensure top quality of your catamaran and to ensure repeats return we ensure your catamaran is in tip top shape.
    Turnarounds include boat briefings/chart briefings, cleaning staff, oil & engine checks, and admin staff

  • Laundry

    The charter includes a set of linen for each cabin. We ensure all linen is spotless. We therefore have to charge a laundry fee.

  • Water Fill Up

    Each charter catamaran is filled up with water prior to its departure.

  • Dinghy Cleaning, prepping & service fee

    To ensure maximum life of the dinghy and to avoid any chase calls on charter we must ensure the outboard engine and general shape of dinghy is maintained.

  • Propane

    Every catamaran must be equipped with a propane oven. On each charter, the propane tank is refilled for charter guests

  • Underwater Hull Inspection

    Sometimes damages do happen but to avoid the owner having to pay out of pocket and to ensure the collision damage waiver is processed correctly every charter that returns the hull will be inspected. We feel that we want to discover the problem sooner than later and to ensure the guest takes some responsibility. This is another example of our superior maintenance program.

  • First aid kit, tools and charts

    It is required by BVI law to have these items onboard.

Please view the example of fees below onboard a Lagoon 450 3 Cabin owner's version

Charter Related Expenses***:       Per Charter  
Turnaround Fees 1 Per Charter $550 $550 ($14,300)
Laundry 6 Per Guest $10 $60 ($1,560)
Water Fill Up   Per Charter $65.00 $65 ($1,690)
Dinghy Cleaning, Prepping, Servicing 1 Per Charter $80.00 $80 ($2,080)
Propane 1 Tank $16.00 $16 ($416)
Underwater Hull Inspection after each charter 1 Per Charter $45.00 $45 ($1,170)
First Aid Kit, Tools, Charts 1 Kit $20.00 $20 ($520)

Step 5: Annual Expenses

Every year during the month of September, our Tortola base does not except charter departures. We do close the base for a month for summer maintenance. We haul out every catamaran and ensure we do the bottom paint and antifouling and ensure your catamaran is spotless.

We have also estimated what your parts & maintenance fees will actually be per year as well as insurance.
Upon joining our catamaran bareboat fleet you will join our fleet insurance which is estimated at 2% - 2.5% of the hull value.
We will also license your catamaran according to BVI laws.

Please view an example of these fees below

Annual Expenses:
  Parts & Maintenance

$734,000 Hull Value 3.50% ($25,690)  
  Annual Haul & Bottom Job and Hull Wax 44 Per Foot $75 ($3,300)  
** Insurance $734,000 Hull Value 2.20% ($16,148)  
  Licenses and Permits     Fixed ($600)  
  Marketing Fee Waived   7% $0  
  Total Operating Expenses=         ($79,522)

Step 6: What is your NET revenue after all the management commissions, fixed expenses, charter related expenses and annual fees are deducted from the potential charter revenue?

In the Caribbean when on a revenue risk sharing program the rule of thumb is always to strive for 10% return on your investment. We of course strive higher than this. It really depends on the choice of layout, model, year that you choose for charter.

Upon deducting all costs from charter revenue, the example below shows what NET return a Lagoon 450 owner's layout will achieve in charter:

Net Revenue $83,122
* Based on 3cabin charter version vessel with 2 forward hull berths  
** Based on $734,000 value  
  All revenues and costs are based on current 2011 rates and costs  
  Based on vessel purchasing its charter equipment, dinghy and O/B (rental of those is also available on a per charter fee)  

Request Bareboat Charter Projections