Create a Feasibility and Market Research Fishing Charter
Demographic and psychographic data
Many people love to fish, but very few have the boats, equipment, and knowledge to go fishing far from shore. Fishing charter companies hire people on fishing trips that they would not be able to experience otherwise. . These trips can range from swamps to adventure far from the coast. Customers are generally allowed to keep all the fish they catch (assuming they are legal).
We believe that this activity is intended for all fishing enthusiasts who like to share this passion with others. In this sector, industry customers expect fishing charter captains to know and love fishing. Sharing this knowledge and love allows customers to have a good time. Note that the ideal client in this business is someone who enjoys fishing and has a discretionary income to go on a fishing excursion.
List of niche ideas in the charter fishing sector
As we already know, Destin fishing charters helps tourists and commercial fishermen to locate popular fishing areas on the coast. There are only a few businesses that you can start without initial capital, and the charter business is not one of them.
To start this business, you need enough capital to float it and most of that capital will go to advertise your business and buy the equipment you will need to operate it. Many will argue that this industry has no specific niche; we have chosen not to agree, because the industry is huge and allows specialized entrepreneurs to specialize in a given service. Peaks in fishing activities can include:
- Coastal / coastal fishing
- Deep sea fishing
- Tournament fishing
- Commercial fishing
- Boat rental on the high seas
- Freshwater boat rental
- Level of competition in the charter fishing sector
Whatever our perception, fishing is one of the most popular outdoor recreational activities in the United States. Although participation has decreased slightly in recent years, more than 45.7 million Americans made at least one fishing trip in 2015. Indeed, fishing as a leisure activity is generally more widespread among the older generations. , but more than 60% of the participants were under the age of 45 in 2015.
Estimates have shown that the number of annual trips among fishing participants can vary considerably. In 2015 alone, the largest share of fishermen made four to eleven trips, but a small percentage exceeded 104. We think the most popular places for these trips included the coastline and boats. For many people, fishing has the positive advantages of enjoying nature and escaping the demands of everyday life.
To analyze competition in this sector, we must note that the average annual expenditure per unit of consumption of fishing and hunting equipment has been sporadic in recent years. In 2015, the average US expenditure per consumption unit reached US $ 33.6. We believe that equipment is not the only thing participants have to buy; they must also hold a fishing license in the United States. Also in 2016, there were more than 29 million paid license holders in the country. The gross cost of these fishing licenses exceeded US $ 686 million that year.
A fishing charter company earns money by charging customers who want to go on a fishing trip. These trips can last from a few hours to several days. However, most charters are half-day or full-day excursions. We also believe that some charter companies operate from one location, as captains must have a thorough knowledge of the waters in which they fish. The exploitation of this trade in different regions, even if on the same body of water, greatly reduces the knowledge of the captains on the fish of each region.
The fishing industry does not seem dangerous, but it really does exist. There are many risks in this type of business. Note that insurance costs alone are generally three times higher for a fishing charter company than for other companies. In this area too, you will have to spend a lot of money to provide customers with lures, fish bait and equipment. Even with good contracts in place that hold customers accountable for equipment failure, maintenance costs can be high.