Today’s fractional programs were designed with the mind set of putting the company’s needs before the needs of the owners. These companies do not produce anything, their only reason to exist is to provide exemplary service to wealthy clients.
Lets start at the very top with the Yacht. How many of the programs allow you to select the yacht? Do they allow you to select the color of the yacht, the decor or the options you want in your yacht? Are you allowed to select a brand new yacht from a manufacturer?
Most programs have a fleet of yachts that you are allowed to choose from. The others have some they own of manage which you must choose from. Ho do you know the actual price of the yacht you are selecting? Remember, you are paying for the percentage of ownership you select and their business must make a profit to stay in business.
Now for the destinations. Let’s use 10 shares for this example as that is the norm being offered. This number makes the program less expensive to sell and easier to manage. This setup allows you 2 weeks in the Caribbean and 2 weeks in the Mediterranean each year. Oh, and you always go there same 2 weeks. Good luck that those two weeks are the right time for being in that location. Most programs are setup for a period of five (5) years, so you use your yacht 10 times of 20 weeks over the lifetime of the program. Remember those numbers, 10 destinations and 20 weeks.
The percentage you pay is based upon the percentage you purchased. The price includes the normal items, crew, maintenance, accounting services, management of the yacht and of course concierge service. You are responsible for consumables during your time on the yacht. Fuel, food, bar items, dockage, mooring, etc. Let us not forget the biggest unknown cost “major repairs”. The older the yacht you purchase the higher this number will be.
A point of concern is the crew. There are many articles out there about how crews are overworked to save money for the companies, which leads to poor client service while on their cruise. Be sure you are happy with how the company deals with crew and crew issues.
Up to this point can you tell me how many times the companies have placed you first? ZERO! And you pay millions for the privilege of being part owner of a luxury yacht that in lost cases you could afford to own yourself. In what world is this a WIN-WIN situation?
Now for the Owners way! Fractional Sportfishing Yachts (www.fsyus.com), has read all the articles, seen all the one sided programs on the market and has demanded different.
Our program starts with the premise that you are the owner and we are the service provider.
You select the yacht, color, decor, options and everything about your yacht.
You select 9 destinations each year (remember those numbers) which means you use your yacht for 45 trips not 10.
The company supplies two crews in lieu of one, so you always have the same fresh crew while aboard. Also weeks are rotated so you are not locked into set weeks of usage.
Concierge Assistants are assigned to the owners. You will have the same person working with you, getting to know the likes and dis-likes of both you and tour family. The Concierge Assistants are available to you and your family 24/7. You are not just a name, you and your family are our responsibility 24/7, it is their motto.
Maintenance program is based upon a proven Quality Management plan. Written QA/QC is provided and continuously reviewed with the crew to insure the issues are caught and corrected before they become major repairs.
Major Repairs are handled differently as that a company representative is at the vendors site when major repairs are being performed. This protects your interests and confirms the services are actually performed and billed correctly.
This looks more like a WIN-WIN situation.
Whichever program you select, be sure you come first and not the company you select.