At Fabled Voyages we believe that building something extraordinary begins with building something trustworthy. We want to establish a reputation founded on transparency, accountability, and financial responsibility. This is something we believe to be lacking in many parts of the residential cruising industry. Our goal is not to create unrealistic expectations or include financial pressures from banks, investors, or other external interests to have the ability to dictate the experience and future. We want to build a company that puts the long-term success and the well-being of its community first.
Through our extensive research and realistic financial planning, we intend to establish the true costs associated with acquiring and operating a residential cruise ship. We are focused on ships actively sailing, properly maintained, and operating to acceptable industry standards, rather than a bargain vessel that has been neglected or left deteriorating for years. Our financial planning must account for the initial purchase, dry docking, refurbishment, necessary maintenance, contingency funds, and the initial operating funds required to bring a vessel into service safely and responsibly.
Fabled Voyages has established a sustainable operating budget accounting for the realities of an ever-changing global economy, inflation, rising operating expenses, mechanical issues, and the many unexpected costs of operating a vessel of this size and complexity through due diligence, constant review, and periodic pricing adjustments. There are realities that must be anticipated and planned for, and we are doing so. From the beginning, establishing realistic expectations versus making attractive promises today that become financial burdens tomorrow is not how we operate.
Continuous, guaranteed maintenance fees are structured with this philosophy in mind. With this guaranteed financial model, keeping the ship moving, maintained, as well as providing funding for dry docking, emergencies, and unexpected expenses or changing economic conditions, allow for us to look beyond the excitement of the initial departure to keep the voyage going for years to come. Long-term financial sustainability is our focus and goal, not simply sailing away from port.
Fabled Voyages will never promise permanently fixed or reduced maintenance fees in exchange for additional investments that ignore the realities of inflation and increasing operating costs. Such promises may sound appealing and help raise the initial capital, but can create financial obligations that become impossible to maintain over time. We believe honesty and transparency about these realities is far more valuable than telling people what they want to hear or think they can afford.
Recognizing the responsibility that comes with accepting deposits from people who are wanting to make Fabled Voyages their home and the industry’s history with deposits, we are not interested in collecting large sums of money ahead of time to hold long-term or squander away. Our deposit structure has been designed around transparency and minimizing the financial risk to prospective residents. At no more than 5% of the sale of a residence and a 90% refundable deposit under the applicable terms and conditions, a genuine interest and intention to making a deposit is confirmed, while creating a reasonable level of protection should circumstances change. Making a commitment toward a future residence should be approached with the same care and consideration someone would give to purchasing a property remotely. While these are not new or complicated concepts; they reflect responsible business practices that should be standard in this industry.
Once we have established the foundation of trust, transparency, and a financially responsible business model, we can turn our attention toward building the team that will bring this vision to life. A company of this size and complexity cannot be successfully operated by one person, nor should it be. Just as every great ship requires a capable crew, every successful company requires experienced leadership in the positions that matter most.
The founders of Fabled Voyages are the visionaries and the driving force behind the company, but just like any other organization, we recognize a CEO does not necessarily possess the specialized knowledge and experience of everyone supporting a company. A Chief Technology Officer (CTO), Chief Operating Officer (COO), or Chief Financial Officer (CFO) exist to support the goals of a company in their respective areas, and exist for a reason. Each Individual brings a different area of expertise, and we intend to recruit capable, experienced individuals to lead those areas as the company and project develop.
Fabled Voyages will build our management team thoughtfully and responsibly, adding the necessary positions as the business develops further. Unnecessary payroll for positions such as a Captain, Chief Engineer, COO before we are even ready to make an offer on a vessel is fiscally irresponsible. Timing matters, and assembling the right people at the right time eliminates unnecessary expenses that are passed on to our residents.
If it takes a village to raise a child, it will certainly take a strong, vibrant company and an equally strong community to bring a successful residential cruise ship to life. At Fabled Voyages, we understand this journey will take more than a ship, an investment, and good idea. It will take the combined experience, dedication, and contributions of our leadership team, employees and crew, but most importantly, the residents who will ultimately call this ship home. After all, the ship is what takes us around the world, but the people aboard are what will make it worth the journey.