Pros and Cons of Opening Up Your Own Business

[Rockslinger]

Well, I had numerous people who wanted to pilot it themselves but:

All good reasons, here are 3 more:
1) It keeps his crew gainfully employed.
2) The crew keeps an eye on the guests so they don't hurt or kill themselves.
3) The crew also ensures the guests don't thrash the boat.

My boss said he paid $400,000 for the yacht. Is that plausible?

 

[tboy]

All good reasons, here are 3 more:
1) It keeps his crew gainfully employed.
2) The crew keeps an eye on the guests so they don't hurt or kill themselves.
3) The crew also ensures the guests don't thrash the boat.

My boss said he paid $400,000 for the yacht. Is that plausible?

Yup VERY plausible. I had a little 30 footer that retailed for $96,000.00 in 1990. A couple of years later I was looking at a 42' sea ray with a fly bridge and it retailed for $450,000.00.

 

[Rockslinger]

Yup VERY plausible. I had a little 30 footer that retailed for $96,000.00 in 1990. A couple of years later I was looking at a 42' sea ray with a fly bridge and it retailed for $450,000.00.

Yup, his boat is a 42 footer and is "winterized" but he has to be careful that the ice doesn't crush the boat. Do SP's do outcalls to a yacht?

 

[Medman52]

Any plans to cash out soon?

At times I think about it every day...but then I imagine punching a clock everyday and I break out into a cold sweat!!

 

[Rockslinger]

At times I think about it every day...but then I imagine punching a clock everyday and I break out into a cold sweat!!

My boss "The Big Guy" will probably hand the business to his children in the next 10 years and then he will retire to his 42 foot yacht. If his kids are half as competent as their dad, the business will be in good hands.

 

[tboy]

At times I think about it every day...but then I imagine punching a clock everyday and I break out into a cold sweat!!

Like me, I'd rather live in a cardboard box than work for someone else ever again......

 

[21pro]

My boss said he paid $400,000 for the yacht. Is that plausible?

I know someone that trades in yacht's actively. No restoring or repairs... he just buys and sells at great profit, he has a limit of 75% profit margin, with most over 100% margins.

He said he rarely has to go out looking for deals... People call him everyday with boats needing a new owner.

 

[Rockslinger]

People call him everyday with boats needing a new owner.

True story. I saw Conrad Black's yacht pass by with only one of the two engines working. This was about a year or two before he went to jail. Wonder who is the owner of that yacht now.

 

[tboy]

I think it was '95 or so where boats were going for 25 cents on the dollar. Many MANY people want boats, the idea of boats, but don't realize the sheer cost of it. I only had a 30 footer and it'd cost me between 6 and 10 K a year to own it. (mind you this is keeping it in a marina within the GTA, it is cheaper outside the city).

Nevermind the cost of fuel, at full throttle (50 mph) mine would burn 3 gallons per mile. I was looking at an Emo Fitipaldi Scarab and it burned 300 gallons per hour at 78 mph. You do the math lol.....

 

[Rockslinger]

Many MANY people want boats, the idea of boats, but don't realize the sheer cost of it. ..

But, they are babe magnets. Insert smilie here.

 

[tboy]

But, they are babe magnets. Insert smilie here.

LOL it's cheaper to just get escorts.....

Put it another way:

It's been a few years since I had mine but when I did:
1) Slip: $3800.00
2) Winter Storage: $2800.00
3) Transport to and from storage: $1000.00
4) annual maintenance on the engine: $700.00
5) Hull painting and cleaning: $400.00
6) Full tank of fuel: $625.00
7) New canvas/canvas repairs (every 3 years): $1500.00
8) Insurance: $4000.00
9) Ropes lines and lost fenders: $500.00

Just remember: put "marine" on the package and the price triples. For eg: #8 x 1" ss screw: CTC: $1.29 for 8 marine store? $1.25 each.

 

[Medman52]

32 ft boat just outside of the city

1) Slip: $2400
2) Winter storage (including launch in Spring) $1200
3) No need for transportation-it's stored at Marina
4) Maintenance on Engine $150 (Oil and filter twice a year) do it myself
5) Bottom anti-foul painting $200 ( do it myself)
6) Hull wax $300 (pay for it to be done)
7) No canvas repairs it's in good shape ( after 7 years)
8) Insurance $1100
9) New dock lines every year $175
10) New toys every year $500 approx
11) 2 tanks of Diesel a season approx $200 (Sailboat)
12) Mast stepping in the Spring $275

 

[tboy]

mumblemumblemumblesheetflappermumblemumblemumble lol....

I find canvas lasts longer up north, less pollution in the air. I had a plastic windshield that was angled and it wouldn't last 1 1/2 seasons due to fallout. Supposedly there's a sealer on the surface that protects it from damage. Once that seal is damaged it doesn't last long.

I had a new one put in one spring, then 3 weeks later we had a hail storm, one week later it was so yellow you couldn't see through it....(that's when I learned about the sealer).

My sunbrella canavas intself was fine, it was the threads that fell apart after a season or two.....

 

[Rockslinger]

Just remember: put "marine" on the package and the price triples.

The same can be said for "medical". Put "medical" on a pair of latex gloves and the price jumps from 10cents to 50cents a pair.

 

[Medman52]

mumblemumblemumblesheetflappermumblemumblemumble lol....

I find canvas lasts longer up north, less pollution in the air. I had a plastic windshield that was angled and it wouldn't last 1 1/2 seasons due to fallout. Supposedly there's a sealer on the surface that protects it from damage. Once that seal is damaged it doesn't last long.

I had a new one put in one spring, then 3 weeks later we had a hail storm, one week later it was so yellow you couldn't see through it....(that's when I learned about the sealer).

My sunbrella canavas intself was fine, it was the threads that fell apart after a season or two.....

The main problem with my canvas is keeping the f**cking sh*t hawks off of it!!!

 

[tboy]

The main problem with my canvas is keeping the f**cking sh*t hawks off of it!!!

I feel your pain dude, I feel your pain.....

 

[icup123]

Just want to put in my 2 cents to this thread, in my mid 20's I already had a high income job BUT something was missing... felt like a dog for some reason.. I would get a bonus that was supposed to make me happy (it did for the first years), my boss above me would get a bigger bonus, boss of boss get a new mansion etc..

decided to quit my job and start a new business over a year ago....... now in my late 20's , work around 14 hours a day, 7 days a week .. finally seeing the big payoff .. of course I don't have as much leisure time as my peers or as much as I would like to have but I am starting to see the fruits of my labour.. hoping that in the future with a system set in place I wont need to work as hard later on..

overall most satisfying feeling I have got so far in my life!. Definitely need to work your arse off ! but if you have a dream take the necessary steps to reach them

 

[Medman52]

work around 14 hours a day, 7 days a week .. finally seeing the big payoff .. of course I don't have as much leisure time as my peers or as much as I would like to have

Give it some time, I was in your shoes...now after many years, I play hookey A LOT!!! Ya know why? Because I KNOW the boss!!!

 

[icup123]

thanks I have noticed that I have started to ease back alittle bit!~~ hopefully in a few years I follow in your footsteps lol!