The Charter Business Thing Again

All right it’s that time of year again. New 2008 boats are hitting the showroom floors so the 2007 demo’s will be available. If you haven’t read the charter investment plan, here is the deal in a nutshell.

Five partners invest in a 26 foot Panga for a charter business. The Panga which gets nearly four miles to the gallon, rides smooth and dry, drafts only 14”of water and happens to look sharp is a perfect boat for the variety of fishing out of Marathon. The partners get use of the boat two weeks each a year for vacation. The rest of the year the boat runs charters to cover the cost of the boat. Every two years the boat is traded in for a new model, so there is always a reliable boat.

Estimated return on the investment ranges from 15% to 30% per year if the investors do their job. Their job is to promote the heck out of the charter business.

Some investors may want to use the boat more than two weeks per year. Not a problem if properly scheduled. That investor just has to kick some money back in the general fund to make it fair for the other investors, about $700 per week.

Rough estimates of total cost and returns a listed in the charter business link. The cost estimates are a little on the high side because of dockage. With a trailer and/or using my dockage which is not much to look at, initial cost can be reduced.

The contact with Cristal Clear Charters is still open plus there are a few others that can be used on a commission basis to book charters. Cay Clubs may be heading south, but CCC’s is hanging in there.

This past charter season was pretty slow. That means the income estimates might be a little high, but the cost of the charters being extremely competitive, I doubt by much.

Judging from the current boat prices, the cash per investor will be between 10and 15 grand for the Angler and 15 to 20 grand for the Andros Panga. I recommend the Angler for the first two years and rolling profit into the Andros in the third year.

With the two year replacement instead of yearly replacement some extra money will need to be held for maintenance and repair.

If you like to fish the Marathon area here is what this works out to if the cost is fifteen grand per investor:

If you rent a 26 foot boat for two weeks a year that is about $3900.00 per year so over three years that’s $11,700 bucks. So even if the charter income stinks, your not really out of that much money anyway. If the charter business makes half of the estimate, you get back your money while still getting the use of the boat. If the charter meets estimates, you make enough cash to pay for the rest of your vacation expenses. So this is not a get rich investment it is a fun vacation investment.

If you own a vacation home in the Keys and try to maintain a boat during the off season, add up your storage and other costs. Then talk to your accountant about potential tax advantages of this deal.

Oh, don’t forget that a charter boat with captain normally has a few numbers or tricks to improve your fish productiveness. You can enjoy fishing the Florida Keys without dealing with the expense of maintaining a boat.

Tight lines,

Capt. Dallas

So Where's the Gaff?

I have been doing the fishing 101 thing for nearly eight years now out of Marathon. In that time I have gotten pretty good at making do with whatever is at hand to catch fish. While I have a pretty good checklist, sometimes the crews bring so much stuff that I don't get everything. Today, about 12 miles off the beach I noticed that we didn't have a gaff.

About ten minutes later we hook up a thirty pound dolphin. While my angler Troy fights the fish I am trying to figure out just how the heck am I going to get the fish in the boat. I make a tail rope for the fish just in case I can get the fish to play nice.

The fish of course doesn't want to play nice. So I start thinking I am going to have to lip the fish. Normally, I have a pair of pretty heavy gloves in my bag, but since the boat was so overloaded with gear, I left my tackle bag at the dock.

Grabbing a hand towel, I lip my first thirty pound dolphin. This is not a technique I recommend. While it worked, it was not exactly fun. Anyhow, here is a photo of my first bass handled dolphin.



Back at the dock, a buddy uses his Bocagrip to weight the fish. Twenty-nine pounds at the dock. I mention that the Bocagrip could have come in handy. My angler Troy, says, "Oh! I have one of those on the boat."

Oh well, Troy has now ordered a mount for his personal best dolphin which was fifty-seven inches long. Troy seems to have enjoyed fishing the Florida Keys even without a gaff.

Tight lines,

Capt. Dallas

How to Have a Merry Christmas

It’s getting real close to Christmas and a few ladies out there haven’t wrapped up their shopping. Most men I know haven’t started yet. So for the ladies, it’s easy to please your fishing hubby, give him a Bass Pro Shops gift card.

Guys, pleasing the little lady might be more of a challenge. If you are thinking about a new vacuum or the Victoria’s Secrets catalog, my couch is only comfortable for about two days. Then you are on your own. But Bass Pro Shops may be your ticket out of the doghouse too.


Tip one, Sunglasses: A little BPS gift card so she can get proper eye wear for that tropical vacation she’s always wanted. You not only make her happy, you get to forget about shoveling snow and all the other honey do’s in the jar, and do a little serious fishing in the Keys.

Tip two Shoes

What woman doesn’t want new shoes, and boat shoes are perfect for that Sailfish trip you are taking her on in the fabulous Florida Keys because scraping ice of the windshield every morning is starting to chap your butt.

Tip three Luggage:


With sharp looking new wheeled luggage, she can keep up with you while you are running to the ticket counter to get your boarding passes to get on the plane that is taking you away from the slush that used to be snow and to the once in a lifetime fishing vacation/second honeymoon that will save your marriage and your sanity! In the Florida Keys of course.

Tight lines and a Merry Christmas to all,
Ho Ho Ho
Capt. Dallas

Fishing the Florida Keys for a New Boat

It's boat shopping time again. Time for one of the two happiest days in a boat owners life, the day he buys and the day he sells. The reason is that the fishing competition in Marathon is changing. More captains are moving into larger sport fisherman and high end charters. The fishing is just too good down here to neglect the backcountry and bay wrecks. So I'm looking at 24' to 26' panga style open fisherman. These are clean enough for fly fishermen, not much foul their fly line and big enough for four anglers, six in a pinch with the 26 footer.

The fuel economy is the main draw these boats have for me. Every charter down here has a fuel surcharge built in right now. I hate that nickle and diming tactic. With one of these pangas, its $350 for a half day and $550 for a full day. No extras, no add ons, just get in the boat and go! The pangas have a high bow flare so just about any day is fish able. Tarpon trips, bay wrecks, gulf wrecks, offshore for sailfish, the panga is a good all around boat for this area. I haven't decided on which manufacturer yet, but I'm getting closer. When it gets real close, I'll post pictures and let you guys help me decide.

If you want to get in on a great investment click here for details.

The Fishing Reports is like this. All the Blackfin Tuna you want at the Marathon Hump along with good numbers of school dolphin and a few gaffers. Cobia still in the bay and mackerel are showing but agood way back to the north west. Lots of bait in the area of the 57 10 and further west. A few sails off the reef, but most of the action I've heard is closer to Aligator light than Sombrero. Tails, Muttons, Grouper and still good numbers of Mangroves on the reef.