In recent years, ownership of a luxury motor yacht has gotten increasingly more complicated and expensive. A yacht management company can be instrumental in helping you manage your yacht efficiently and cost effectively.
However, finding the right yacht management company to meet your particular needs can be a bit of a challenge. The right management company can make your yacht ownership experience a good one for the lifetime of your yacht, the wrong one could make you regret you ever bought your boat in the first place!
In no particular order, here are the five questions we are most commonly asked here at Florida Yacht Management, and they are the same ones you should ask any yacht management firm you are considering.
- What does a Yacht Manager Really Do?
A Yacht Manager is basically a very specialized kind of Project Manager. The main role of the Yacht Manager is keeping it all together, by making sure all aspects of running your boat are as smooth as possible. That means not only staying on top of maintenance schedules, and making sure that all tools and materials required for a given repair or service are there when needed, but also anticipating problems proactively, and coming up with solutions, before the owner was even aware of the problem!
- How many Boats Do You Manage?
This is an important question. It requires the “Goldilocks” answer. You want a company whose size is “just right.” You want to know they are experienced, and have a decent amount of boats in management, and preferably one or two of similar size or model to your own. But, you do not want them to be so large, that your boat is “lost” as one among many, and does not get the individual treatment it deserves. Regardless of the number, the best yacht managers will only take on the number of boats that they can most effectively handle, given their staff and resources, while still providing you with top flight customer service.
- Exactly What Services Do You Offer?
You want to know exactly what services the yacht management company will provide. At the very least, your yacht Management Company should offer help with:
- Safety compliance
- Operational support
- Technical management and support
- Financial control and services
- Marketing/Charter services
- Project management (including new construction and refits)
Beyond what they offer, you want to know how they offer these services. Are they a la carte? Or do they offer packages? Again, if you purchase a package, you want to know exactly what is included. Also, how can you monitor the work that they do so you can ensure they are doing what they say?
- Do You Handle Crew Arrangements?
A good yacht management company will help you recruit your crew from the captain on down. They will be able to match you with a crew that not only meets your particular needs, but understand how that can change from voyage to voyage. Our On Demand Crew service is unique in the industry.
- What is the Difference Between a Yacht Manager and a Captain?
In the best of worlds your yacht manager and your Captain will work together to give you a positive ownership experience. A good captain can often recommend a good management company, and vice versa. The Captain and the Manager should be seen as two side of the same coin, each bringing their own expertise to the table. The Captain is largely responsible for the safe, “day-to-day” usage of the yacht. Whereas the yacht management company is responsible for the “big picture” of the overall operation of the vessel.
Communication is Key
When looking for the right yacht management company, we encourage you to ask questions, because communication is key. It is only through open communication and transparent operations between owner, manager, Captain and crew, that you will ensure the safe operation of your yacht to the complete satisfaction of yourself and all aboard her.
Avoiding mistakes when hiring crew for your yacht can be challenging. If you would like to benefit from our expertise in these areas, or if you have any questions or comments about this blog post, do not hesitate to contact our Yacht Management specialists, or call us at (855) 318-6328.