Is boating affordable?
February 27, 2007
At trade events, dealer meetings and boat shows this year, the industry’s affordability issue was a hot topic. It was tempting to join the bandwagon, spewing forth scary “facts” like boats are too expensive, upkeep has become pricey, and boating is now only for the rich. But I’m not sure the... Read more »
Money in the bank
February 27, 2007
Experts in the marine industry haven’t seen any reason to uncork the champagne in 2007 since a sluggish sales year is forecast. Analysts who watch the industry to track its publicly traded companies see strong demand from the luxury segment, but that bright spot more than dims in the wake of anemic... Read more »
Follow-up = CSI up
February 27, 2007
Of all the areas that affect CSI, your follow-up scores might be the lowest-hanging fruit for improvement. Put a system in place to contact customers after a purchase or a service visit, and then sit back and watch as your scores steadily rise. Those dealers going through the industry certification program... Read more »
Follow the leads
February 27, 2007
During one of the most memorable scenes in the film adaptation of the Pulitzer Prize-winning play “Glengarry Glen Ross,” a character berating a group of unprofitable salesmen pauses to hold up a stack of red envelopes wrapped with a golden ribbon, then says the following: “These are the new leads.... Read more »
The High Bar
February 27, 2007
Ask most boat builders about their dealers, and you’ll hear a similar tune. They’ll sing their dealers’ praises, boasting of the strength of their partnerships and claiming they couldn’t find success without them. Based on this alone, you’d think the boating industry was one big dealer/manufacturer... Read more »
Promise & challenges of pre-owned market ahead
February 27, 2007
How much of the pre-owned market is the industry capturing? A recent look by this magazine, based on Spader 20 Groups, indicates that pre-owned sales per dealer of about $1 million a year are roughly one-sixth, or 16.5 percent, of new boat sales measuring $6 million. That shows growth from 1999 when... Read more »
Marine Mover & Shaker
February 27, 2007
When Southco Marine acquired Orcas Marine Products, Inc. in late 2006, it got a lot more than a successful small boat hardware manufacturer to complement its product offerings. It got Oren Cotton. If you didn’t know him, you might expect Cotton, the founder and former president of Orcas, to use the... Read more »
Executive Spotlight
February 27, 2007
Thom Dammrich, president, National Marine Manufacturers Association: The biggest mistakes I have ever made have been hiring mistakes and sticking with poor performers too long. And, the worst of those was a CFO many years ago. Her sister had been one of my best hires and recommended her to me. I thought... Read more »
Inside Tohatsu
February 27, 2007
Boating Industry: How has your presence in the U.S. outboard business changed over time? Wakabayashi: Our presence in the marketplace has changed dramatically … from a distribution company to a subsidiary now owned by Tohatsu Corp. in Japan. Through effective marketing and business strategies, we’ve... Read more »
B.I. Book Club
February 27, 2007
“212 Degrees” Lynnhaven Marine (Ranked 24 in Boating Industry’s 2006 Top 100 Dealers) takes the “212 Degree” approach seriously when it comes to CSI and its customers. Every manager at Lynnhaven read the book by Sam Parker and Mac Anderson and passed it around their respective staffs. “At... Read more »
