wyc ownership 0118 - cdn1.sportngin.com 2 panel § beth –j22 § andy –j24/ais § david –ais §...
TRANSCRIPT
1/20/18
1
Boat Ownership/Partnership
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Schedule/Agenda§ 1830 Beer/Pizza§ 1900 Presentation
§ Costs§ Survey§ Partnership
§ 2000 Break§ 2010 Panel discussion
§ Q&A§ Crew building
§ 2100 Adjourn1/20/18 2
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Panel§ Beth – J22§ Andy – J24/AIS§ David – AIS§ Ernie - Sonar§ Paul – S2 7.9 / Melges 32§ JR – Sonar§ Bob – Capri / Sonar
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Boat Purchase
Condition• Ready to race?• Class legal?• Hull/keel condition• Running rigging • Standing rigging• Winches
Equipment Included/Not Included• Motor• Boat lift• Trailer• Compass/Tactic• Condition of sails• Electronics• Fenders, dock lines, boat hook, anchor, etc.1/20/18 4
Range J22 C25 Sonar S2 7.9
Low $7,000 $4,000 $4,500 $6,500
High $12,500 $8,000 $17,000 $12,000
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SailsRange J22 C25 Sonar S2 7.9
Main $1,462 $2,000 $2100 $2,985
Jib $1,105 $2,000-$2,500 $1400 $2,030
Spinnaker $1,462 $2,000 $2000 $2,300
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First Year Costs
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Item Cost
WYCmooringslip– perft $101
WYCmooringball $1,250
WYCfullmembership $450
WYCone-time membershipcertificate $400
WYCskippermembership $320
Fleetdues(local) $50
Classassociation $35
Insurance $274
USSailingMembership $65
TCRSA(Twin CitiesRegionalSailingAssociation) $5
Totalfirstyear(Slip– 25’boat) $3,804
Totalfirstyear(Mooringball) $2,529
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Bayfield BoatItem 39-foot 36-foot 46-footStorage/Launch/Haul $4300 $6500 $7000Insurance $1000 $750 $1600Dues/Fees $900 $875 $900Maintenance $1200 $2900 $2000SailRepair $1000 $1000 $750Chandlery $1000 $1000 $1500Travel/Lodging $1000 $800 $500CrewGear $500 $300CrewDinners/Beer $600 $1100 $500Fund(Sails,rafts,flares, etc) $4500 $3500RegattaFees $500 $500 $700
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Survey§ When is a survey needed
§ For a bank loan§ For insurance§ In the event of serious damage
§ Types of survey§ Valuation§ Pre purchase to identify potential issues§ Details repairs needed§ Mast & rigging§ Electronics§ Sail inventory1/20/18 8
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No Survey – what to look for§ Delamination - Wet core § Chain plate leaks§ Line clutches§ Tracks – Re-bedding§ Mast step - Keel vs deck§ Rudder – Bearing or
Pintles/Gudgeons play § Keel – weeping or crack§ Cracks – spider vs serious§ Previous damage§ Frames and stringers
§ Engine - Oil samples.§ Standing rigging § Mast - sheave boxes, step§ Electronics - proper grounding§ Plumbing – hoses + 2x clamps§ Safety equipment - Lifelines
Wooden plugs, rafts, flares, first aid kit, MOB, EPIRB/PLB
§ Trailers - Wheels & bearings, lights, brakes, permits
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Choosing a Partner§ Assess Skills/Desires
§ Boat speed and handling§ Rules, tactics & strategy§ Drive or trim§ Learning or teaching
§ Match intensity§ Agree access
§ can’t both drive
§ Agree cost management§ Amount§ Monitoring
§ Qualities§ Reliable/dependable§ Flexible/adaptable§ Open-minded§ Understanding
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Cost Split Example§ Sails - 50/50
§ Amortized over X years§ Mooring – 50/50§ Insurance
§ Homeowners? Who?§ Dedicated policy?
§ Repairs – 50/50§ Major – amortized over 2-years§ Minor – same year
§ Proceeds from sales – apply to current year1/20/18 11
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Partnership Considerations§ Handshake§ Paper§ Capital§ Operating§ Sunday§ Dissolution clause?§ Bonehead clause?
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Crew Building Ideas§ Align expectations
§ Pay as you go? Or Full Ride?§ Training – on and/or off the boat§ Events – Thursdays, Sundays, Regattas§ Safe, Fun, Fast
§ Establish a core§ Chemistry is important§ Website / Social Media§ Crew Boss§ Crew Gear
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Summary§ Costs§ Survey§ Partnership
§ Align expectations§ Agree cost split
§ Crew building ideas
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