The most important part of any commercial fishing business is arguably the boat you choose. Your vessel needs to be the correct size for the activity you will be involved in. A vessel that is appropriately sized makes it more efficient to catch fish. Use this guide to help you learn how to start a commercial fishing business with the right boat.
Not Having a Budget
Before you even start looking at boats, you need to decide how much you can afford to spend. Not only does this help you narrow your search, which saves time, but it also keeps you from choosing a boat that isn’t a realistic option. As you make a budget, consider the other financial aspects of running your commercial fishing business, including paying your employees, buying insurance, and stocking your supplies. Be sure that the boat you want to buy will be compliant with the guidelines when you apply for a fishing permit.
Not Researching the Industry
By researching the market for a given boat, you can determine if it’s a good buy or if you should keep looking. Many commercial fishermen will tell you that an older boat that has been well cared for and maintained is a better buy than a newer boat that isn’t put together as well. In other words, consider more than the way a boat looks before you decide to buy. You want something that is durable, in good working order, and will be reliable for many years to come. Fancy amenities and good looks should take second place.
Not Checking the Safety Record
Another mistake to avoid is failing to check a commercial fishing boat’s safety record. Of top priority when you’re out on the water is your safety and the safety of your crew. By checking the safety history, you’ll get a good picture of the vessel’s reputation in regard to damage and impact. Of particular importance is a sturdy and stable keel. The engine should also be reliable and in good working order.
Not Factoring in the Fuel
Failure to consider fuel costs is a huge mistake and one you must avoid making. Operating a large commercial fishing boat requires large amounts of gasoline so you need to make sure that’s part of your overall budget. The more cargo you carry, the higher your fuel needs, so keep that in mind as well. It’s also vital to ensure that you have enough fuel anytime you hit the water so you aren’t stranded without a way back to shore.
Learning how to start a commercial fishing business can be both exciting and overwhelming. If you have questions along the way, the Commercial Fishing Permits Center is here for you. We can help you get through the permit process once you’ve purchased the ideal boat for your purposes. Feel free to explore our FAQ section.
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