Fishing Charter Business Overview
A fishing charter business provides guided fishing experiences where customers pay to go fishing on a boat with a professional crew and equipment. These excursions typically last several hours to a full day, with boats returning to their departure point the same day. Charter operators must obtain commercial fishing licenses, maintain their vessels according to Coast Guard regulations, and carry proper insurance. The captain and crew provide fishing equipment, bait, ice for catches, and safety gear while sharing their expertise about local fishing spots, techniques, and seasonal fish patterns. Most charters operate from marinas or docks in coastal areas, lakes, or rivers, with peak business during warm-weather months and weekends.
The most common business models in fishing charter operations include:
- Private Charter: Individual groups reserve the entire boat and crew for personalized fishing trips
- Party Boat Service: Multiple unrelated customers share a larger vessel, paying per person for scheduled group trips
- Specialty Fishing Tours: Boats and crews dedicated to catching particular fish species or using specific fishing methods
Related: Checklist To Start A Business
How Do Fishing Charters Make Money?
The primary revenue stream for fishing charters comes from trip fees, which typically range from several hundred to thousands of dollars depending on the duration and type of excursion. These fees account for boat fuel, crew wages, equipment maintenance, bait, and insurance costs. Pricing often varies based on the number of passengers, trip length, and season, with the availability of half-day, full-day, and extended trips. Most charters require advance deposits to secure bookings and have cancellation policies to protect against lost revenue from no-shows.
Additional revenue sources for fishing charter operations include:
- Equipment Rentals: Offering premium fishing gear and specialty equipment to customers who want to upgrade from standard included items
- Fish Processing: Cleaning, filleting, and packaging customers’ catches for an extra fee
- Photography Services: Taking and selling professional photos of customers with their catches
- Merchandise Sales: Selling branded clothing, fishing accessories, and souvenirs
- Fishing Instruction: Providing separate fishing lessons or workshops outside regular charter trips
Industry Statistics
Fishing charter businesses fall under NAICS code 487210: Scenic and Sightseeing Transportation on Water. Here are some statistics that show how the industry has performed and where it stands today.
Fishing Charter Industry Size & Growth: The fishing charter industry generates annual revenue of approximately $440 million. The industry has grown steadily since 2018, with an average annual increase of 3.8%. Future projections indicate continued growth at 2.1% annually through 2028, driven by rising disposable income and increased interest in outdoor recreational activities (IBISWorld).
Number of Fishing Charter Businesses: There are approximately 3,649 fishing charter businesses operating across the country. The industry remains largely fragmented, and most operations are independently owned and operated single-vessel businesses (Statista).
Fishing Charter Profit Margin: Fishing charter businesses typically see profit margins between 15% and 25% of revenue. These margins can fluctuate based on factors such as fuel costs, maintenance expenses, and seasonal demand.
States with Most Fishing Charter Businesses: Florida has the highest concentration of fishing charter businesses, followed by California, Texas, and New York. Coastal states with year-round fishing opportunities and popular tourist destinations naturally attract more charter operations (U.S. Census Bureau).
Startup Stories
Also See: Ideas for Naming a Fishing Charter Business
Costs To Start a Fishing Charter Business
Starting a fishing charter business could range from $40,000 to $350,000. The lower end represents starting with a used freshwater boat and basic equipment, while the higher end includes a new saltwater vessel with premium electronics and amenities.
Here are the main costs to consider when starting a fishing charter business:
Boat and Motor ($25,000 – $250,000): Your primary asset is the boat itself. Used freshwater boats suitable for charter service start around $25,000, while new saltwater vessels can exceed $200,000. The boat must be large enough to safely accommodate clients and include reliable motors and navigation equipment.
Fishing Equipment ($3,000 – $15,000): Quality rods, reels, tackle, nets, and storage systems provide everything needed for successful client trips. Multiple sets of equipment accommodate different fishing styles and allow for backup gear when needed.
Safety Equipment ($2,500 – $10,000): Marine safety gear includes life jackets, first aid supplies, marine radio, emergency beacons, flares, and firefighting equipment. Coast Guard regulations determine the required safety equipment based on vessel size and operating area.
Licenses and Certifications ($1,500 – $5,000): Required documentation includes a Captain’s License (OUPV or Masters), commercial fishing permits, state charter licenses, and Coast Guard vessel documentation. Additional costs include drug testing programs, CPR certification, and fishing endorsements.
Business Insurance ($4,500 – $25,000): Marine insurance covers your vessel, equipment, and liability protection. Charter operations need specialized coverage that protects both the boat and clients during fishing excursions.
These cost estimates are approximate, and actual expenses will vary based on your business model and scale of operations.