With the memory of the significant toll that the Great Recession had on our industry still somewhat fresh in our minds, I think it’s important to note that this downturn is different in a number of ways.   Between the crash in 2008 and the middle of 2010, nearly 2,000 boat dealerships were forced out […]

As businesses across our industry fight to navigate the landscape of federal stimulus packages, there’s an untold story you should be aware of.   That is that the organizations the government designates to support their respective industries — which in this case means almost every single one of the marine trade associations you know today […]

When we turn on the news these days, there is a lot of data being thrown at us. And for good reason. With all the speculation about what might happen in the COVID-19 economy, data is needed to help us sensibly navigate our current reality. It also grabs our attention, and the media knows it. […]

  Boat dealership layoffs spiked in the state of Michigan in April, when compared to other states, as government officials locked down the state due to the COVID-19 pandemic, according to a survey conducted by the Marine Retailers Association of the Americas.   In a survey of 199 dealerships across the United States during the […]

  In a news cycle that’s heavy with bad news, it’s important to underscore the positive things happening around the marine industry. And there’s a lot to take note of, so I thought I’d spend some time sharing what we’re hearing.   Little by little, politicians are noting the importance of outdoor recreation in today’s […]

As the CARES Act stimulus program was running out of money last week, nearly 60 percent of the boat dealers that responded to MRAA’s research reported that they had applied but had yet to receive their funds.   As noted in an early-April survey, close to 90 percent of boat dealers had already applied or […]

No matter what your dealership’s situation – business as usual or otherwise – in most places around North America, traffic is likely to be slower than normal for a while as the COVID-19 crisis runs its course. While it’s certainly not the time to take your eyes off of finding revenue, there’s always time to […]

  Over the course of the last month, MRAA has been in touch with thousands of dealers, through one-to-one contacts and surveys that are keeping the pulse of their businesses throughout today’s market place. It became clear in week one that the top concern on their minds was their cash flow. It makes sense — […]

  I’ve spoken at numerous events over the last few years telling the story of how author Simon Sinek’s “Start With Why” has impacted me, our team and our overall business here at the MRAA. The bulk of the message in this book, aside from the guide to creating your own “why statement” is that […]

In our work with dealers over the last few months, the two biggest concerns they’ve had surrounding their cash flow challenges are, as one could imagine, their two largest expense categories: their people and their floor plan expenses.   With the stimulus package loan proceeds beginning to refill dealership bank accounts, it’s clear that the […]