John, You're a really good guy and I appreciate your honesty and transparency, but I think most people would understand if you adjusted your rates during the season depending on the price of fuel going forward. I fish mainly on party boats at the Jersey shore and I fully expect that their fares will reflect the increase in fuel prices that we are all experiencing.
Your fishing videos are great, and the boat show / boat shopping videos are enjoyable in the cold of the winter, but the transparency videos like this are so honest & refreshing. It's an eye-opening peek behind the curtain, which is enjoyable.
Nice breakdown of the cost vs profit. At first glance it seems a losing battle. The reality is the side business is paying for many things large boat related like docking, maintenance and insurance. Worth it in my opinion 👌
Dering harbor was $4.50 last year for premium 91 I was paying $4.25 at the marina I was fueling up at. You might want to fuel up across the block. Using .39/180 fuel tank as an example you would have saved $70 by driving across the street. As far as this years price goes $7 is a bit of a stretch since normally you see marine fuel a $1 over the cost at the pump for your car. If a marina takes a short term approach and gouges the boater they wind up losing in the long term. As demand destruction occurs we don't want to see boaters priced out of using their boat. This is a hobby driven by disposable dollars.
This is a great report as to what is involved in the P&L in a charter business! I am currently setting up my charter business in the Florida Keys. I will be working for an established charter business for awhile first to get some experience before I dive completely in it. but setting everything up is a process as you know. Thanks for sharing Capt Tony
You’ve got it exactly right. With more than 50% of your expenses being fixed it’s difficult to be profitable with so few trips. Once you move to full time your cost per trip will drop significantly and you’ll have a better margin
John you crack me up. “I work in financial services” then “Math is not my strong suit” 😂🤣 I know you must love the charter business doing it for $130. 👍🏻
Very interesting and informative video John! Really appreciate your take on chartering and the fact that you enjoy fishing as much as the rest of us! I hope that you have a great 2022 fishing season! 👍👍
Lots of charters charge a flat rate + fuel cost. It's a good transparent way to do it. All the boats running out of Venice Louisiana for tuna structure it that way.
Great info yet again John. Thats exactly what ive been wanting to do down here in MD but im just afraid to buy a boat since i have no experience with it and i have no friends with boats. Kindda scary dream it feels like. But i do love anytime on the water.
Interesting information…nice insights for you to share with your audience. Gas prices are going to be a cloud over every trip; especially the long runs.
A “Fuel Surcharge” is the most fair and reasonable thing to do. With everyone else seeing a 10% material cost jump and upping prices 15%-20% or more I think the best solution is not for you to eat or raise your price as prices never drop. Take the average price you paid in 2021 and look at the marginal change and pass the difference on.
do what you love and you will never work a day of your live, right? lol. I hope you hit your goal(s) and enjoy the ride. I am trying to do the same! (different set of obstacles). I hope to bump into you on the water (up in RI)! Look forward to your next video, I enjoy them all!
Fuel price change won’t stop me but I will think twice about running around exploring. The tuna better be close like last your or I’ll see you at the Windmills for fluke this summer. It’s interesting that I spent almost the same on fuel as you did and I paid less per gallon. My runs offshore are a lot longer.
That was useful! Thinking of starting a charter on Cape Cod. Pretty much same game plan. Thank you for the info. If you ever wanna come up for a fishing trip, LMK👍
It's gotta get better..I would love to fish fluke but I'm n va...you do a great job n a great capt...we need a group trip wit John's n doc n skinner...lol
You would be better off to sell that boat and invest the money in real estate. You can go broke staying at home. The fixed expenses are so high you will have to run trips every day to make enough money to live on, plus the wear and tear on the boat. Eventually, you will have to replace the boat and/or engines. I like to fish just as much as the next person, but having a boat that size to do what you are doing is expensive. And the way the price of boats is going up, a replacement will price you and a lot of other people doing that out of existence. Your average cost per trip is roughly $1000. If you are not clearing $800-$1000 on top of the expense each trip, its not worth the trouble. No need to work for free. Just buy a small boat and go fishing with friends and family. Good info, thanks for sharing and all the best.
There definitely are George. The problem is, my mercury motors are under warranty until 2025 and I am very reliant on this dealer to handle my warranty claims. I’ve had one in each of the years I owned the boat and it’s much easier to get their attention and moved up on the list when you are a customer of theirs
Reminds me of the line from the movie trading places where the Duke brothers tip the guy at the club five dollars and he remarks “maybe I’ll go to a movie… By myself.“
@@jiggingjerks hahaha! I’m glad you addressed the IRS keeping an eye on guys just looking to write off expenses for their boating hobby under the auspice of having a charter business. My one buddy keeps telling me I should get my six pack license and elaborates about how I can write off any and all expenses related to the boat. I explained to him that the last thing I need to do is throw up any type of red flags with the federal government. Nobody needs that nonsense.
Do you generate any income from your TH-cam channel? Reason I ask, since it is based on your charter business can you put that in with your charter business expenses or is your channel considered as another business? As always, great video and love that you are so transparent about the cost of having a charter business.
I did generate decent income but I was monetized before the charter biz so the income is in my name. I’m almost frail to see how complicated it is to put in the business name. Would make more sense.
@@jiggingjerks That is why bean counters make the big bucks. Also, your mileage to drive to and from to your dock, and driving around and traveling to do your boats for sale. And yes, I am the guy who would out run you to pick up a penny on the street! Would love to see your TH-cam finances as well. I know a lot of people seem to hold back that info. As always, love your channel. Great job!
Jusn - thanks for the interest. I don’t advertise the business on TH-cam because I’m actually completely full for 2022. Since I only do it part time, it’s really limited to weekends and vacations from my Monday through Friday job. My website is here in case you are interested but again, my earliest open dates are in 2023. www.justfishinglongisland.com
@@jiggingjerks I’m thinking about starting my own charter service out of Lake Erie. I have steady income that I don’t have to work for, and doing it as a passion. However, I still want to make money. Do you have any other resources that are of good use?
TH-cam recommended this video, I don’t know why because I don’t fish or care about fishing. Are there electric boats yet? Like the Tesla Automotive of the the marine world?
Not yet. Remember, boats are all drag, there are no wheels involved and you need an incredible amount of power to move them at half the speed a car with travel. Battery technology needs to improve tremendously we are electric motors makes sense on anything other than a kayak or very small skiff.
I watch your videos, and I have a channel of my own. I hope to make some money from the video channel when I retire. Did you make any money from your videos?
I actually do. I think I was 7,500 in 2021. I did a video last year about how much I make. I thought more people would be interested in that (they weren’t - it was poorly viewed). Good luck with the channel!
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John, You're a really good guy and I appreciate your honesty and transparency, but I think most people would understand if you adjusted your rates during the season depending on the price of fuel going forward. I fish mainly on party boats at the Jersey shore and I fully expect that their fares will reflect the increase in fuel prices that we are all experiencing.
Your fishing videos are great, and the boat show / boat shopping videos are enjoyable in the cold of the winter, but the transparency videos like this are so honest & refreshing. It's an eye-opening peek behind the curtain, which is enjoyable.
Nice breakdown of the cost vs profit. At first glance it seems a losing battle. The reality is the side business is paying for many things large boat related like docking, maintenance and insurance. Worth it in my opinion 👌
Dering harbor was $4.50 last year for premium 91 I was paying $4.25 at the marina I was fueling up at. You might want to fuel up across the block. Using .39/180 fuel tank as an example you would have saved $70 by driving across the street. As far as this years price goes $7 is a bit of a stretch since normally you see marine fuel a $1 over the cost at the pump for your car. If a marina takes a short term approach and gouges the boater they wind up losing in the long term. As demand destruction occurs we don't want to see boaters priced out of using their boat. This is a hobby driven by disposable dollars.
This year it will be more important than ever to have other great Captain's to communicate with to find the fish and stay on them .Great video John 👍
This is a great report as to what is involved in the P&L in a charter business! I am currently setting up my charter business in the Florida Keys. I will be working for an established charter business for awhile first to get some experience before I dive completely in it. but setting everything up is a process as you know. Thanks for sharing
Capt Tony
Best of luck Cap!
You’ve got it exactly right. With more than 50% of your expenses being fixed it’s difficult to be profitable with so few trips. Once you move to full time your cost per trip will drop significantly and you’ll have a better margin
John you crack me up. “I work in financial services” then “Math is not my strong suit” 😂🤣 I know you must love the charter business doing it for $130. 👍🏻
John thanks for the update. It is very interesting. Your moving in the right direction. Thanks again tight lines
Great insight. All the best for a safe and enjoyable 2022 fishing season.
Very interesting and informative video John! Really appreciate your take on chartering and the fact that you enjoy fishing as much as the rest of us! I hope that you have a great 2022 fishing season! 👍👍
Lots of charters charge a flat rate + fuel cost. It's a good transparent way to do it. All the boats running out of Venice Louisiana for tuna structure it that way.
Great info yet again John. Thats exactly what ive been wanting to do down here in MD but im just afraid to buy a boat since i have no experience with it and i have no friends with boats. Kindda scary dream it feels like. But i do love anytime on the water.
Hi John , have a safe season 👍
Interesting information…nice insights for you to share with your audience. Gas prices are going to be a cloud over every trip; especially the long runs.
I was going to say a lot of stuff lol but I decided to just say Holy cow!, god bless you, that’s passion!
Nice job John - as always.
Wow a 1,000.00 dollar bump on the slip. You should consider paying Sweney to winterize and open in the spring.
A “Fuel Surcharge” is the most fair and reasonable thing to do. With everyone else seeing a 10% material cost jump and upping prices 15%-20% or more I think the best solution is not for you to eat or raise your price as prices never drop.
Take the average price you paid in 2021 and look at the marginal change and pass the difference on.
do what you love and you will never work a day of your live, right? lol. I hope you hit your goal(s) and enjoy the ride. I am trying to do the same! (different set of obstacles). I hope to bump into you on the water (up in RI)!
Look forward to your next video, I enjoy them all!
Fuel price change won’t stop me but I will think twice about running around exploring. The tuna better be close like last your or I’ll see you at the Windmills for fluke this summer. It’s interesting that I spent almost the same on fuel as you did and I paid less per gallon. My runs offshore are a lot longer.
That was useful! Thinking of starting a charter on Cape Cod. Pretty much same game plan.
Thank you for the info.
If you ever wanna come up for a fishing trip, LMK👍
Thank you Igor!
It's gotta get better..I would love to fish fluke but I'm n va...you do a great job n a great capt...we need a group trip wit John's n doc n skinner...lol
When you retire and do it full time you may need to have the boat closer to MTK and block. Or have 2 smaller boats, one in greenport and one in mtk
Some nice arb coming with GBTC spot etf approval. You gotta work on getting those expenses down my man…
Hey man i live here in miami, florida and i am thinking of buting a boat for charter.i appreciate all the info and numbers to take into account.
Good luck. Very rewarding career but profit margins absolutely suck
You would be better off to sell that boat and invest the money in real estate. You can go broke staying at home. The fixed expenses are so high you will have to run trips every day to make enough money to live on, plus the wear and tear on the boat. Eventually, you will have to replace the boat and/or engines. I like to fish just as much as the next person, but having a boat that size to do what you are doing is expensive. And the way the price of boats is going up, a replacement will price you and a lot of other people doing that out of existence. Your average cost per trip is roughly $1000. If you are not clearing $800-$1000 on top of the expense each trip, its not worth the trouble. No need to work for free. Just buy a small boat and go fishing with friends and family. Good info, thanks for sharing and all the best.
Very informative video John..thanks.
Great insights John.
thanks for giving us this insight
How come you can’t write off Gulp?
I can I think. Some of the line items I listed as gas included bait shop purchases on my company credit card.
You paid for your own gas? I thought your were exploring new fishing spots. ;-)
The ferry to CT has added a fuel surcharge. I think 7%
Paid $5.39 on the water last week - Yikes ! John, please tell me you have an opening for a half day Fluke or Blackfish trip this year ????
Hey Anthony!!! Nada available right now but I’ll let you know if anything opens
Phew 😮💨 thank goodness I have only a 90. hp. God Bless America 🇺🇸
Haha, you have no idea how much gas 700 HP requires :)
There's boathaulers who move your boat ,store it and do all maintenence too
It has to be less then what you are paying
There definitely are George. The problem is, my mercury motors are under warranty until 2025 and I am very reliant on this dealer to handle my warranty claims. I’ve had one in each of the years I owned the boat and it’s much easier to get their attention and moved up on the list when you are a customer of theirs
Congratulations on a profitable 2021!! lol!!
Reminds me of the line from the movie trading places where the Duke brothers tip the guy at the club five dollars and he remarks “maybe I’ll go to a movie… By myself.“
@@jiggingjerks hahaha! I’m glad you addressed the IRS keeping an eye on guys just looking to write off expenses for their boating hobby under the auspice of having a charter business. My one buddy keeps telling me I should get my six pack license and elaborates about how I can write off any and all expenses related to the boat. I explained to him that the last thing I need to do is throw up any type of red flags with the federal government. Nobody needs that nonsense.
Do you generate any income from your TH-cam channel? Reason I ask, since it is based on your charter business can you put that in with your charter business expenses or is your channel considered as another business? As always, great video and love that you are so transparent about the cost of having a charter business.
I did generate decent income but I was monetized before the charter biz so the income is in my name. I’m almost frail to see how complicated it is to put in the business name. Would make more sense.
@@jiggingjerks That is why bean counters make the big bucks. Also, your mileage to drive to and from to your dock, and driving around and traveling to do your boats for sale. And yes, I am the guy who would out run you to pick up a penny on the street! Would love to see your TH-cam finances as well. I know a lot of people seem to hold back that info. As always, love your channel. Great job!
@@davesauerzopf6980 I did a video last year on that: th-cam.com/video/tFa4TomVJlE/w-d-xo.html
No you said that correctly, part time charter fisherman 😂😂 jk.... here yah go katy 😂👍
Seem like when Democrats are in the White House we pay more for gas think in 2013 or 14 diesel was close to $5 a gallon also
We were spoiled when a certain president was actually for the people and not his own pockets 👍
where can I find information about chartering your boat?
Jusn - thanks for the interest. I don’t advertise the business on TH-cam because I’m actually completely full for 2022. Since I only do it part time, it’s really limited to weekends and vacations from my Monday through Friday job. My website is here in case you are interested but again, my earliest open dates are in 2023. www.justfishinglongisland.com
Hi John what company do you use for the insurance I got my captains license this year and looking to start part time in New Jersey
Gallagher Charter Lakes. Congrats on the license!
$6250 for a slip in Greenport. Insanity LoL Over here its maybe ( i'm guessing ) $3500 and the Town slip is a couple hundred dollars.
7250 this year. Aaaaaaand, all the local marinas have followed suit.
@@jiggingjerks no bueno
What kind of boat do you charter?
2005 Sea Vee 310 with twin 2017 Merc Verado 350s
Looks like you have plenty of room for a mast and sail in the bow of ur boat john
Haha, yup!
Math also is not my strong suit..Almost 15% dockage bump?? Seems steep
how are you getting away with gas once a month? how big is the tank?
300 gallons and I do it part time
How do I get in touch with you about the charter services. Thanks
I’m actually sold out for 2022 hence why I don’t advertise on the channel
You are a good dude
Thank you
How many trips could you do full time?
I’m guessing 100 to 120 if I average 4 trips a week from early May to end of December. Demand is there. Limiting to 4 per week for weather reasons
@@jiggingjerks I’m thinking about starting my own charter service out of Lake Erie. I have steady income that I don’t have to work for, and doing it as a passion. However, I still want to make money. Do you have any other resources that are of good use?
@@anthonyar4 shoot me an email with your phone number and happy to give you a shout one evening and discuss. Jiggingjerks@gmail.com
@@jiggingjerks thank you!
TH-cam recommended this video, I don’t know why because I don’t fish or care about fishing. Are there electric boats yet? Like the Tesla Automotive of the the marine world?
Not yet. Remember, boats are all drag, there are no wheels involved and you need an incredible amount of power to move them at half the speed a car with travel. Battery technology needs to improve tremendously we are electric motors makes sense on anything other than a kayak or very small skiff.
youtube income not included?
Not included. That’s not under my LLC
Get some gas cans. Fill up at gas station, haul to boat.
Believe it or not, I have been thinking of that. The problem is, it’s illegal at my dock and also, my tank is 300 gallons.
@@jiggingjerks you don’t have to fill at your dock. Maybe you will figure a solution. Me, I’d get one of those surplus fuel tank trailers. Good luck.
just writing a comment to hopefully give you some TH-cam revenue...I hope :)
Thanks Jody lol…appreciate it bud
Let's go Brandon....
I watch your videos, and I have a channel of my own. I hope to make some money from the video channel when I retire. Did you make any money from your videos?
I actually do. I think I was 7,500 in 2021. I did a video last year about how much I make. I thought more people would be interested in that (they weren’t - it was poorly viewed). Good luck with the channel!
@@jiggingjerks Thanks for the reply. I missed that video. Is it still up?
@@GeorgeShields yup. It’s here.
th-cam.com/video/tFa4TomVJlE/w-d-xo.html
Don't die tryn save n not enjoy it...
over priced