Yesterday, August 20, 2024, Judge Ada Brown of the U.S. District Court for the Northern District of Texas ruled that the Federal Trade Commission (FTC) lacks legal authority to implement its “non-compete” rule. As we have previously alerted you in previous updates, on April 23, 2024, the FTC voted 3-2 along political party lines to approve […]
MRAA Blog
Fuel the Future: Invest in Local Trade School Scholarships
It was early July and the back-to-school advertising started. Back to school can mean a lot of different things. For parents there may be a sigh of relief, for teachers a gasp of “uh-oh” but in the marine industry it signals that the sales will likely slow and the preparation for the offseason gets into […]
Confessions About Fishing and Your Newly Improved Dealership Assistant
I have confession to share with you. Back in the early 1990s, a buddy and I went fishing quite a bit on an Iowa farm pond. Our boat of choice was a flat-bottom, two-person vessel, similar to the PELICAN Boat Bass Raider 10E. We powered it with a trolling motor. Even though it was not […]
7 Steps to Take to Conserve Cash
Developing and maintaining sufficient cash on hand during an economic slump is critical to keeping your dealership healthy. When revenue is lower than expected, leading dealerships balance revenue growth efforts with exploring and implementing cash conservation methods. Here are seven tips for conserving cash shared within an MRAA Ask the Expert webinar with Pat Kennedy […]
How Your Dealership Can Stop Competing on Price
Times are tough. It’s tempting to compete on price so your team can move as many boats as possible, but it’s not the best strategy. You need a better message than “buy from our dealership because we’re cheaper than the other guys.” Even if you are cheaper than the other guys! Because sooner or later, […]
21 Dealership Insights into What’s Working Today
• Your fellow dealers share effective strategies for conserving cash, managing inventory, connecting with customers and more As a dealership owner or manager, it would be easy to view the glass of marine retailing today as half empty, particularly when compared to the spike in demand during the pandemic. Case in point, one dealer recently […]
Data Mining & Projections
By Bob Bense, President & CEO, Superior Boat Repair & Sales For the 2025 model year order commitment, I’m looking at all the data available to me to help me project my 2025 model year commitment with my boat brands. This includes three critical steps, which I’ll share with you now. 1. I’m looking over […]
Navigating the Waters: Adapting Strategies in a Changing Market
By Jason Oakes, General Manager, Crestliner Boats Much like making sure you have enough life jackets for all passengers and double checking your supplies before heading out on the water, figuring out the best path forward for your business takes thoughtful planning to guarantee success. But both boat dealers and manufacturers alike are feeling some […]
Reducing Inventory – What Works
By Bill Yeargin, CEO, Correct Craft Our Correct Craft companies work with hundreds of marine dealers, giving us a unique view into what works and what doesn’t. By no means does that make me an expert on dealership management, but it has resulted in some interesting observations, particularly related to the management of inventory. In […]
Webinar: Mastering the Waves — Navigating a Dealership Exit During Uncertain Times
• Webinar and panel discussion with host Performance Brokerage Service, Morgan Stanley and Matt Gruhn, MRAA President By Jon Couwenberg, Partner & Director Marine Division, Performance Brokerage Service, an MRAA Platinum Partner Member Are you contemplating the future sale of your marine dealership? Like many of your fellow dealers, you might find yourself with more […]
