Before you start a Yacht Club, there are certain things you need to know and procedures to follow to ensure the best experience. As a yacht enthusiast familiar with sailing, OC boat insurance, and other marine matters, the thought of starting your own yacht club may have crossed your mind. If you’ve been seriously researching what to know about starting a yacht club, you already realize the importance of preparation.
Decide Which Requirements You’ll Impose for Membership
Before opening a brick-and-mortar club and selling memberships, you’ll need to set some parameters for your yacht club. Although the membership requirements can be as fast-and-loose or as strict as you want, as a business decision, it may be most beneficial to enact provisions that allow you to gain more members in a shorter period.
Some standard yacht club requirements include:
- Sailing experience
- Yacht ownership
- Boating certifications
Learn Business Basics, Secure Insurance, and Make a Marketing Plan
Starting a yacht club is akin to starting your own business, and if you’ve never run a business before, you’ll need to research the basics to ensure you’re following a solid path. For example, it’s essential that you:
- Secure all types of necessary business insurance, which could include commercial property coverage, general liability insurance, workers’ compensation, business income insurance, and more
- Do your market research to identify a unique niche that you can capitalize on in your marketing plans
- Detail your sources of funding and sketch out tentative financial projections
- Choose a legal structure for your company and register it formally under your chosen name
- Keep your business plan updated along the way
Promote the Benefits of Your Club to Potential Members
Once you’ve set some membership requirements and sketched out a business plan, it’s time to begin promoting the club and selling memberships to grow the business. Organic growth can help you gain a strong reputation, and once you gain your first few members, you may also enjoy the benefits of word-of-mouth advertising. However, you’ll need a solid marketing plan to get off the ground. Some practical ideas for getting the word out about your club’s benefits include the following:
Arranged boating excursions for members or exclusive boat launch access
- Sailing lessons with specialized instructors
- Annual club races and other friendly competitions
- Outreach with the local community
- The opportunity to gain various yachting certifications on-site
- Access to perks such as conference rooms, dining areas, or on-site bars
- Other leisure facilities, such as golf areas or gyms for members
If you’re a yachting enthusiast and have thought about starting your yacht club, it’s essential to do your research for a successful launch. From securing OC boat insurance to learning the ins and outs of marketing and business basics, these tips are foundational and can help you navigate the yacht business confidently.
About Mariners Insurance
Mariners General Insurance Group was founded in 1959 to protect boat owners and marine business clients. We are marine insurance experts and insure boats worldwide – in every ocean on the planet. Marine insurance is critical if you own a boat or nautical business. Trust the professionals with all of your Boat Insurance needs – trust Mariners Insurance. Call us at (888) 402-5018 any time you have questions or concerns about insurance for your vessel or marine business.
