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LAGOON 440
YEAR
2004 OPERATING BUDGET |
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Gross Annual Estimated Charter Income |
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Projected Annual Income |
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Weeks of Charter |
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24 |
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Average Weekly Charter Rate 2000 |
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High Season Rate |
$7,950 |
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12 |
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$95,400 |
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Mid Season Rate |
$7,250 |
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6 |
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$43,500 |
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Mid / Low Season Rate |
$6,250 |
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3 |
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$18,750 |
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Low Season Rate |
$5,250 |
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3 |
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$15,750 |
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Average weekly Charter Fee |
$7,225 |
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24 |
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Gross Annual Estimated Charter Income |
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$173,400 |
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Total Discounts, Fees and Commissions: |
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Owner's Charter Referral Fees |
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2.5% |
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$4,335 |
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Charter Discounts |
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5% |
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($8,670) |
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Management Fee |
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23% |
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($37,629) |
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Charter Broker's Commissions |
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3% |
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($5,462) |
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Total Discounts, Fees and Commissions |
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($47,426) |
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Net Owner's Revenue |
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$125,974 |
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Fixed Monthly Expenses: |
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Monthly Dockage |
44 |
Foot |
$11.50 |
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($6,072) |
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Dock Water |
200 |
Gallons |
$0.11 |
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($264) |
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Dock Electricity |
50 |
KWH |
$0.45 |
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($270) |
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Charter Related Expenses: |
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Per Charter |
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Turnaround Fees |
1 |
Per Charter |
$650 |
$650 |
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($15,600) |
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Laundry |
8 |
Per Guest |
$8 |
$64 |
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($1,536) |
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Water Fill Up |
350 |
Gallons |
$0.11 |
$39 |
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($924) |
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Fuel Consumption |
60 |
Gallons |
$2.50 |
$150 |
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($3,600) |
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Dinghy Fuel |
4 |
Gallons |
$3.00 |
$12 |
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($288) |
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Dinghy Cleaning, Preping, Servicing |
1 |
Per Charter |
$75.00 |
$75 |
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($1,800) |
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Propane |
1 |
Tank |
$14.00 |
$14 |
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($336) |
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Underwater Hull Inspection after each charter |
1 |
Per Charter |
$35.00 |
$35 |
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($840) |
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Charter Equipment Rental |
1 |
Per Charter |
$295.00 |
$295 |
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($7,080) |
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Starter Kit |
1 |
Kit |
$20.00 |
$20 |
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($480) |
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Snorkel Equipment |
1 |
Kit |
$20.00 |
$20 |
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($480) |
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First Aid Kit, Tools, Charts |
1 |
Kit |
$20.00 |
$20 |
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($480) |
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$1,394 |
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Annual Expenses: |
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Parts |
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1.25% |
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($5,938) |
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Maintenance labor |
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1.40% |
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($6,650) |
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Annual Haul & Bottom Job and Hull Wax |
Per Foot |
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$70 |
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($3,080) |
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Insurance |
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1.76% |
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($8,360) |
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Licenses and Permits |
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Fixed |
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($500) |
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Marketing Fee |
Waived |
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7% |
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$0 |
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Total Operating Expenses |
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($64,578) |
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Net Revenue |
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$61,397 |
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| OWNER'S ACCOUNT |
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LAGOON 440 |
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Owner's Summary |
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Owner's Usage Weeks |
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6 |
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$43,350 |
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Net Revenue |
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$61,397 |
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Annual Program Value to Owner |
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$104,747 |
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Financing Details |
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Yacht Price |
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44 |
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$475,000 |
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Owner's Down Payment |
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25% |
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$118,750 |
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Mortgage |
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75% |
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$356,250 |
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$475,000 |
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Interest Rate |
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7.50% |
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Loan Term in years |
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15 |
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Monthly Payment |
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$3,302 |
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