include("includes/standard.php"); head("The Financial Benefits", "benefits"); ?>
The Blue Heaven concept is remarkably simple, but it makes irrefutable financial sense.
Members pay a one-off entry fee of £1,500 which incorporates a four day training course in Spain, including the use of a sports yacht, leading to ICC and Day Skipper certification.
Thereafter, Members pay an annual subscription of either £15,000 for Silver Membership, or £21,000 for Gold Membership. See the Yachts for details of the Gold and Silver Class yacht specifications.
Blue Heaven membership entitles you to the use of the yacht for 30 days of your own choosing per year, within the programme. Now bear in mind that surveys have revealed yacht owners tend to use their boats on average only around 27 days per year.
With Blue Heaven you can have more than one registered Member.
For instance, a father and son or maybe two friends might prefer to share the annual subscription (and their boat days). However, because only registered Members are insured to take charge of the yacht, and with the legal requirement for ICC certification, all Members must pay the entry fee and undertake the compulsory training course.
Another option is for people to extend their boat days by paying additional subscriptions. A father and son, for instance, could each become Members and each pay a subscription which would entitle them to 60 days sailing per year between them.
|One-off entry fee including training||£1,500|
|either Silver Membership||£15,000|
|or Gold Membership||£21,000|
Compare those straightforward Blue Heaven figures with the real costs of purchasing and operating your own yacht of a similar size and specification. You will soon recognise that ownership carries a heavy financial burden.
1. Outright purchase. You can expect to pay at least £350,000 for a yacht to match the specifications of the ones available to Blue Heaven Members.
Remember, however, having paid out all that money, you will lose around £17,500* per year on the interest it would have earned, and of course the boat begins to depreciate at between 10% and 15% the moment you buy it.
2. Funded purchase. If you were to fund the purchase through a 15 year marine mortgage you would have to pay a minimum deposit of 20% which is £70,000./p>
Again you would be losing interest on this capital at around £3,500* per year, and of course the value of your boat would be depreciating at between 10% and 15% per year.
Your mortgage repayments would be in the region of £2,750 per month which is over £30,000 per year.
Having obtained the yacht of your dreams, you then have to operate and maintain it. Here are the costs you will be faced with:
|Mooring in Puerto Banus||£10,000|
|Maintenance and servicing||£2,000|
|Dry dock and anti-fouling||£2,000|
|Total annual costs (approximately)||£24,000|
In other words: To purchase outright and operate your yacht:
|Loss of interest per annum||£17,500|
|Annual operating costs||£24,000|
|Or, through a funded agreement, requiring a deposit of:||£70,000|
|Loss of interest per annum||£3,500|
|Mortgage repayments per annum||£33,000|
|Annual operating costs||£24,000|
As a Blue Heaven Member with guaranteed 30 days sailing per year, and no ownership responsibilities, your annual subscription is either:
Ask about our Corporate Membership Plans. We can arrange corporate plans to suit many company needs, please do not hesitate to discuss your requirements with us.
Enquire about our Subscription Credit Plan. Allows you to spread the cost of your annual subscription over 10 months.
*Based on interest at 5% per annum. All figures are calculated as per the financial situation when leaflet was printed - December 2004.
"A boat is a mechanical device that goes round and round in water, creating a big hole into which you pour money."