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Is being the owner of a fishing boat a good way to make money?

Is being the owner of a fishing boat a good way to make money? Let's say you invest in a well put together fishing vessel about 70 feet or more possibly a longliner worth over 100k and you are the owner. Is that a good way to make money. You yourself don't have to go do the dangerous job, others do it for you and there is a lot of money in the fishing game with the right amount of luck.Get insurance on your boat in case it sinks or something else happens. Is it worth it?? In an investment kind of way.

Asked By: - 6/24/2011
Best Answer - Chosen by Asker
I think you would be lucky to find a serviceable 40' commercial fishing vessel with all required equipment for 100k, let alone a 70 footer. Boats, electronics, and commercial equipment is all very expensive. You will also have to be prepared to offer up a considerable amount of money for operating costs as well... More
Answered By: Eric D - 6/26/2011
Additional Answers (1)
There is money to be made in long lining, but it is nothing that you will get rich doing. If you hire ALL of the work done for you, it will reduce the revenue for the boat. there are better & more secure ways to invest your money
Answered By: Robert Johns - 6/24/2011
 
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