Anyone ever heard of a syndicated build?

Discussion in 'Boatbuilding' started by Mickdh550, May 30, 2018.

  1. Mickdh550
    Joined: May 2018
    Posts: 7
    Likes: 4, Points: 3
    Location: Melbourne

    Mickdh550 Junior Member

    hi all

    I used to be on this forum by the name of Mick@itc but lost all my passwords and access to the email used etc so starting anew.

    I bought the plans of the Dudley Dix DH550 and although my heart was set on it other things in life ensured I couldn’t start the build.

    Now 7 years later, retired, healthy again I still love that boat design. No I haven’t won the lottery and am about to build it but I did buy into a boat syndicate meaning I sail on a catamaran Seawind 1160 for about 6 weeks a year. It’s a very economical way of owning part of s boat and was within my reach financially. But the concept got me thinking! What if I could syndicate the DH550 build?

    There is no way I could afford the $500k to $600k of a boat build and I don’t have the capability to have all the skills or time available to do it. Also it will cost $40k a year in maintenance and that is not doable.

    So has anyone ever heard of a boat build being syndicated??

    Thanks
    Mick
     
    Niclas Vestman likes this.
  2. rwatson
    Joined: Aug 2007
    Posts: 5,469
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    Location: Tasmania,Australia

    rwatson Senior Member

    Is this the boat you are talking about ?

     
  3. Mickdh550
    Joined: May 2018
    Posts: 7
    Likes: 4, Points: 3
    Location: Melbourne

    Mickdh550 Junior Member

    Yep, that’s one of them!
     
  4. Niclas Vestman
    Joined: Aug 2017
    Posts: 37
    Likes: 1, Points: 8
    Location: Malmoe, Sweden

    Niclas Vestman Junior Member

    Our boat club has sort of that, in micro format. Syndicate bought 27' monohull for coop refurb and use. I guess it depends a lot on location. You would need for members to be located in a very close proximity. Any form of need for commute, would hamper the progress. Your boat is a amazing boat, but quite large. Meaning, demanding quite knowledgeable crews, crew strength and some financial capability (even if that part would be shared). Also "timeshare" is mostly an argument for convenience, as well as economy. Building a boat would be quite the opposite. That said, I love the idea, and don't think it would be impossible. I guess quite a few builds are coops between close friends, family members. East cost Australia would be the place. Seams to be the Mecka for cats as well as fearless entrepreneurs :) Maybe a coop build with 50% outsourcing, ie having the shell built by a subcontractor, and sharing the fitting out, systems installation rigging?
    The larger the market, the easier to make it work. Market for a 55' isn't large ;-) But maybe the best way of making a dream come true, would to compromise in size, sell your current plans, and opt for something in the largest market segment, (40'-45' range???). IMHO the odds of making it happen would multiply.
     
  5. Niclas Vestman
    Joined: Aug 2017
    Posts: 37
    Likes: 1, Points: 8
    Location: Malmoe, Sweden

    Niclas Vestman Junior Member

    I love this build story. Tim Weston building Tokyo Express, A 40' cat. To me it gives a good perspective on what a sizable undertaking it really is. A very crafty and able guy spending years. I certainly wouldn't try anything larger than that. To me, a minuscule 33' would seem quite doable :)

     

  6. Mickdh550
    Joined: May 2018
    Posts: 7
    Likes: 4, Points: 3
    Location: Melbourne

    Mickdh550 Junior Member

    Thanks Niclas.

    Yes agree with your points. My thought scratchings so far go like this.

    - Say 4 to 6 members.
    - The boat would be just as much a project with subcontractors than a “home build”
    - use the groups skills to do the grunt work in sprints. Intensive week programs of work
    - hire expertise to lead the mob in sprints
    - buy the kit
    - level off existing infrastructure, spending minimally on new infrastructure.
    - play to our strengths
    - 2 year build schedule.
    - funds to be in a “call” basis with funds managed to minimising standing cash and maximise cash flow velocity.
    - build in northern NSW or southern NSW.
    - ideal partners...retired, an applicable skill, carpenter, electrical, project management, procurement, electrinics.
    - cost would be comethibg like $150k from each partner over two years. Spread in an S curve like, quarterly or six monthly calls.
    - $10k, 15k, 20k, 30k, 30k, 20k, 15k, 10k
    - syndicate works like a project with monthly reports and full open book.
    - and the reason for a 55 foot boat is that it needs to be special to have any chance of recovering SOME of the money after 10 years. Home made boats (non brand) are notoriously hard to sell to skeptical buyers so it must be special!

    They are just my thought scratchings at the moment.

    Thanks for your feedback

    Mick
     
    Niclas Vestman likes this.
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