Category Archives: Articles

Industry needs more entry-level boats

Kudos to William Sisson, Editor of Soundings Trade Only for his recent editorials regarding what he calls “simple, sensible boats.” I call them entry-level boats. But whatever you want to call them, we need more affordable boats for first-time buyers.

I have never met William Sisson, but from reading his editorials, there is no doubt in my mind that he knows more about boating and the marine industry than any other trade magazine editor I have known or read in the past several years. And it is encouraging to me that he recognizes and writes about the need for what he refers to as “a new generation of ‘sensible’ boats – simple, seaworthy, efficient and more affordable. Boats with value and utility, boats that will encourage people to get back on the water.” He is spot-on with his thoughts on this. Continue reading Industry needs more entry-level boats

Third & Fourth Generation Marine Distributors Going Strong

Over the years, I have known a lot of second and third generation dealers in the boat business. But I recently realized that three aftermarket distributors I have known for years are third and fourth generation in the industry. All were started with an entrepreneurial spirit. And all three are doing well despite the economic mess we have been going through. How are they doing this? After talking with all three, I concluded they have survived and done well by working harder and smarter. Here are some brief stories about these three. Continue reading Third & Fourth Generation Marine Distributors Going Strong

Liens with no debt?? Crazy!

Last week I got an e-mail from a good, long-time, Midwest dealer whom I have known for years. He was very disturbed and rightly so. He wrote, “Mr. Sherwood, I, like most all other marine dealers across the nation, have struggled to get through some very difficult times in our industry. Due to excessive rates from some of the commercial floor plan companies, we have paid all of them off and have been able to set up a line of credit with our local bank. This has worked fine up to now, but our line has been unsecured and to get an extension or increase to get us through the winter, the bank wants some collateral. I certainly understand this and do not have a problem with it. The problem is when our bank does a UCC search on our business there are seven different companies that have filed liens on all inventory or equipment or both. We do not owe any of them! But the liens have not been released.” Continue reading Liens with no debt?? Crazy!