• Momentum builds for boating’s only event focused on dealer growth
MINNEAPOLIS, July 15 – The Marine Retailers Association of the Americas (MRAA) announces a record number of exhibitors, at present, have secured booth space for the association’s Dealer Week Conference and Expo Dec. 8-11 in Orlando, Fla. The 2024 event continues the momentum generated by last year’s record-setting conference, and sets a new bar for most exhibitors committing to attend by July 1.
Dealer Week 2024 is slated for Dec. 8-11 in Orlando, Fla.
“With more than 125 exhibitors confirmed as of last week, surpassing last year’s numbers at this time, this year promises to be monumental for the MRAA,” says Allison Gruhn, MRAA Vice President of Business Development. “Our dealer attendees can look forward to an unparalleled experience with a diverse and expansive range of industry-leading exhibitors. This milestone highlights the tremendous growth that Dealer Week has experienced since its 2019 rebrand.”
“We commend the MRAA for the impeccable organization of the event. The seamless flow of activities, well-structured sessions and the overall attention to detail were evident throughout the conference,” says Jon Couwenberg, Performance Brokerage Services, Inc., an MRAA Platinum Partner. “It is clear that a lot of effort and planning went into making Dealer Week a resounding success. Our experience was great. The location of our booth was amazing. It allowed us to meet and further our relationships in the marine industry.”
Boat manufacturers Centurion & Supreme have already committed to co-locating their 2025 model year dealer meeting at the 2024 event in Florida, which presents their attending dealers with valuable education programming and business opportunities. Dealer Week 2024 will be in West Halls D2&E of the Orange County Convention Center. With more than 250,000 square feet of Expo Hall space, exhibitors can build a display space to meet their goals and objectives, with size options from 10×10 to 100×100 and everything in between.
A year ago, all 150 Expo Hall booths and 18 dock slips sold out at Dealer Week, which helped to create the largest show floor in the event’s history. More than 40 first-time exhibitors showcased booths at the Tampa Convention Center and 45-plus boat brands. Marine retailer registration opens in mid-July.
Plenty of booth spaces are still available for the 2024 Dealer Week event in Orlando. Book your booth today! Have questions? Email Allison Gruhnor call 763-333-2419.
About Dealer Week For more than 50 years, the Marine Retailers Association of the Americas has delivered world-class educational programming to dealers, retailers and service operations that power the boating industry and serve today’s boaters. Dealer Week exists to engage, energize and empower the dealer community. The MRAA envisions a brighter future for marine retail, and Dealer Week is the preeminent means for bringing that vision to life. Learn more at DealerWeek.com.
About the Marine Retailers Association of the Americas At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.
MINNEAPOLIS, July 15, 2024 — The Marine Retailers Association of the Americas (MRAA) announces the addition of Impel and Zodiac Event Displays as its newest Partner Members.
Marine manufacturers, suppliers and service providers, through Partner Membership, commit to aligning their brands with the programs and opportunities that MRAA offers in its efforts to fuel the success of the marine industry. Support from Partners allows the Association to expand its offerings and create a positive, long-term impact on MRAA members’ business.
Impel (Syracuse, N.Y.) offers an end-to-end customer lifecycle management platform that enables marine retailers of all sizes to deliver seamless customer experiences at every touchpoint.
Zodiac Event Displays (Denver, Colo.) is a boutique branding agency specializing in soft signage and event marketing materials.
“We welcome Impel and Zodiac Event Displays as our newest Partner Members,” says Allison Gruhn, MRAA Vice President of Business Development. “These companies’ expertise in innovative AI technology and event marketing will elevate our dealer members’ customer interactions and brand experiences. Their support strengthens our mission to drive success in the marine industry.”
Dealer members are encouraged to explore the list of companies that actively support the MRAA across four partnership levels. View the complete list.
About the Marine Retailers Association of the Americas At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.
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 the rolling 12-month data from Wells Fargo for my territory for each of the boating lanes I participated in.
A. E.g.: Ski / Wake, Runabout and Pontoon
B. Are these boating lanes for my market growing, declining or neutral?
C. I compare my market share to the manufacturer’s national market share. I’m I ahead, below or equal?
2. I look at my current inventory for each boat brand and my inventory turns.
A. Are my inventory turns below 2? If so, and my YTD sales are behind in unit sales, I have too much inventory
B. If my inventory turns are above 2 and my unit sales are ahead of last year, I may not have enough inventory 3. Once I have this data, I can determine what is the commitment for model year 2025 with each boat brand.
Below is an example to clarify my strategy and process.
Boat Brand A:
Current boat lane has decreased by 10%.
All units sold in the past 12-month period is 130 units.
National market share for this boat brand is 15.4%, so this equals 20 units for my market.
My local market share is 20%, so this equals 26 units.
Current 2024 inventory equals 20 units.
Based upon this sample information, and if my market stays equal for the next 12 months (doesn’t decrease or increase), I have about 80% of what I need for this brand in inventory for the next 12 months. Thus, I should only commit to six to eight units for 2025.
Share My Process with Brand Rep Going through this exercise with the boat brand rep, helps them understand what my annual commitment for 2025 should be. Any decent boat brand will except this commitment. In this scenario it is much lower. You do this to create a collaborative relationship with superb communication and clearer expectations.
Bob Bense
About the Author Bob Bense and his wife Kathy started Superior Boat Repair & Sales in July of 2009 after a long career working for Nautique Boat Company. He grew up in a boating family and learned to water ski on Folsom Lake as a young boy, which helped to develop his passion for boating and water sports. When he’s not working at the dealership, Bob enjoys spending time with his family in Lake Tahoe and water skiing out on Folsom Lake, early in the mornings with his ski buddies. He also serves on the MRAA Board of Directors.
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 uncertainty as we adapt to our post-COVID world and adjust to what will be considered our new normal. The buyer demand during the pandemic was a welcomed anomaly where we could barely make boats fast enough to keep up with dealer and consumer needs. Now, we face unusual economic pressures that are different to what we experienced the last few years. However, there are ways to not just survive this wave of economic uncertainty but to thrive.
Return to Selling While the boating industry has traditionally been cyclical, the current inflation figures and interest rates are some that many dealers have never seen. The numbers, especially coming off the peak of COVID sales, are understandably causing many dealers to approach 2025 orders with caution. It’s true that for the past few years we’ve essentially been order takers and boats barely made it off the truck before they left the lot. That is no longer the case.
It is imperative for dealers to have a highly trained and dedicated sales team. Sellers must take a consultative approach, listen to the customer, understand their needs and guide them to the few products that would best fit their requirements. If you listen well, the consumer will tell you the brands and models or styles they are comfortable with and exactly what they are looking for. Let the customer tell you what they want or how they plan to use the product and then focus on those needs. One of the best things you can do is to listen and help remove any confusion they may have. In this environment, and to help move through inventory, we really must get back to the basics of selling.
Mind the Gap For dealers preparing to order 2025 models and that feel best purchasing with a conservative approach, I’d recommend first identifying gaps in your inventory lineup and focus on filling those gaps. For example, if your current product inventory is missing a particular model, consider adding that model to fill a hole. Also, if there is a new model available for the model year, you’ll probably want to stock one or two of the new models because customers really like to see what’s new. You’ll always want to have a solid assortment to choose from. Provide your customers with variety to make their shopping experience and time invested by coming to your showroom as positive and productive as possible. Doing a consistent review of gaps in your inventory whether it be model, size or floorplan, will help prepare you for that next customer walking through the door.
Know your Area As a manufacturer, we are constantly monitoring where we are heavy and where our dealers are heavy with specific products. We use this data to determine our consumer incentive planning. We are continually evaluating and putting special consumer incentive programs together to help our dealers move the right inventory and enable them to replenish or order newer product. However, dealers can and should take a proactive approach in this same way and reference trends in previous years to see what buyers in the area want most. COVID buying patterns aside, the data from prior years can paint a strong picture of consumer demand, allowing dealers to stock their inventory more appropriately with what will move fastest.
Fueling the Passion The current economic climate can make planning for next year’s inventory a bit challenging. We want our invaluable network of channel partners to feel comfortable and confident that our products will support their sustainable success. The next months and years will require a different strategy, a much more connected and thoughtful approach with advanced planning of inventory and progressive training of our sales teams. And while the future may look different than what we have seen since in the last four years, passion for fishing or boating remains at an all-time high and it is our responsibility to fuel that passion with the right models at the right price.
Jason Oakes, GM Crestliner Boats
About the Author: Jason Oakes is the General Manager of Crestliner Boats, a leading manufacturer of aluminum fishing boats and business within Brunswick Corporation. Oakes is a 14-year marine industry veteran, previously served as Director of Marketing for Lund Boats and has grown the Crestliner brand to be one of the most sought-after brands among anglers. Prior to joining the Brunswickorganization, Oakes served in a marketing leadership role at Andersen Corporation.
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 June 2024, 74% of boat dealers thought their inventory was too high. This was down from 90% in May, but the consensus is clear: boat dealers believe they are overstocked. Our team understands this situation and wants our dealers to be healthy; without good dealers, we have no manufacturing business. I am confident you will never read an article about our companies forcing dealers to take products they don’t want.
However, is stopping new product orders the best way to reduce inventory? Probably not.
One thing that is certain to result in trouble for a dealership is not having stock on hand that customers want to see and buy. If there is one lesson I have learned over my career, it is that new products drive people to the showroom. Often, the best way to sell older inventory is to have people come in to see new products.
I spoke with a dealer about this exact problem a few years ago. He had some old, slow-moving inventory, but one of our boats companies — for which he was a dealer — introduced a new product that was getting a lot of attention. He had a couple of the new products delivered to his showroom, and people started coming to see them. The people who came to see the new product ended up buying the older product, which was perfectly suited for the customers’ boating needs and available at a better price. Sure, it took some work on their part to convert the prospects to the older inventory, but it ended up being a win for both the dealer who sold the older product and the customer, who still got a great boat.
So, what should dealers do?
First, make sure you have new products people are curious about available for prospects to view, and be prepared to sell them on the value they offer compared to the other products you have in inventory.
It is important to adjust inventory to the current market level, but it is a huge mistake to do that by not stocking new products.
I remember a case study in graduate school about an art gallery that went out of business, and basically, it was because they refused to keep fresh inventory in stock. The gallery quickly sold their popular art but didn’t want to acquire new art in stock until they had sold the slower-moving products. This put the gallery out of business because they stopped getting people who wanted to see new art through the door. This meant they lost all their prospects, including those who could have easily been shown older stock that they would love.
Don’t make this mistake. It is important to adjust inventory to the current market level, but it is a huge mistake to do that by not stocking new products. Sure, be careful how much you buy, but make sure you have items in your showroom that people want to see. Then, use your sales skills to create a win-win scenario for you and the boat buyer.
Having the right balance of old and new inventory is hard, but successful leaders do the hard things.
About the Author Bill Yeargin is the CEO of Correct Craft and author of six books including the best seller, Education of a CEO.
• 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 questions than answers. If you’re interested in understanding how dealerships are being valued post-COVID or learning how to prepare in advance for a successful sale to maximize its value and minimize the pitfalls, this webinar is designed for you.
In today’s ever-changing economic landscape, the process of selling a marine dealership can seem daunting. To help you navigate these uncertain times, host Performance Brokerage Services (MRAA Platinum Partner Member) created a webinar and panel discussion with Morgan Stanley, featuring Matt Gruhn, MRAA President.
Webinar Highlights
The Key Components to a Business Valuation: Our experts will break down the components that contribute to a dealership’s value, including assets, inventories, financial performance, and the intangibles, as well as share insight on how buyers are valuing dealerships post-COVID.
How MRAA Membership Can Enhance Your Dealership: Discover the benefits of MRAA membership and how active involvement can increase your dealership’s performance and long-term value. From industry advocacy & education to business support services, MRAA offers resources that can enhance your operations and make your business more attractive to potential buyers.
Steps to Prepare for a Future Sale: Preparation is key to a successful sale. Our panel will guide you through the necessary steps to ready your dealership for a future sale. From improving operational efficiency to organizing financial records, learn how to present your business in the best possible light to prospective buyers.
How to Minimize Taxes to Increase Sale Proceeds: Tax implications can significantly impact the proceeds from the sale of your dealership. The speakers will discuss strategies to minimize tax liabilities and maximize your net proceeds from the sale.
Key Factors Buyers Analyze in a Dealership Purchase: Understand what buyers are looking for in a dealership acquisition. Our panel will highlight the critical factors that potential buyers evaluate, including financial health, market presence, customer base, and growth potential. Knowing these factors can help you position your dealership more effectively for a successful sale.
Meet Our Expert Panel This team of industry experts will provide you with the opportunity to seek answers to your most pressing questions.
Jon Couwenberg and Jesse Stopnitzky of Performance Brokerage Services
About the Author Jon Couwenberg is a Partner and Director of the Marine Division for Performance Brokerage Services, North America’s highest volume dealership brokerage firm advising on buy-sell activity for automotive, RV, marine, powersports, trucking and equipment dealerships. Jon is also a proud MRAA Platinum Partner.
After 30 years, 900 dealerships sold, and with a 90% closing rate, the company’s reputation remains unmatched and governed by the utmost honesty and integrity. Contact John at 949-412-4740; jon@performancebrokerageservices.com.
NORCROSS, GA., July 1, 2024 — APCO Holdings, LLC (APCO), a leading provider and administrator of automotive Finance & Insurance (F&I) products and home to the EasyCare, National Auto Care (now EasyCare), GWC Warranty, and Crystal Fusion brands, has acquired Capital Administrative Professionals, LLC. This strategic acquisition is one of two the company closed today (Rider’s Advantage,) and marks the third acquisition in 2024, following the acquisition of Crystal Fusion in May. These acquisitions demonstrate APCO’s commitment to protecting what moves dealers, agents, and lenders and further strengthens its position in the F&I industry.
Capital Administrative Professionals (CAP) is an F&I administrator providing innovative and flexible products to automotive, RV and powersports agents and dealers across the country. Started in 2021, CAP supports over 700 dealers with innovative products, training, wealth building, and best-in-class service.
“We’re thrilled to welcome CAP to the APCO family,” said Tony Wanderon, CEO of APCO Holdings, LLC. “This strategic move strengthens our market position and aligns with our vision of delivering innovative products and solutions for dealers. We look forward to working with the talented CAP team and leveraging their expertise to drive growth and value for our customers.”
“Acquiring CAP broadens our product portfolio and allows us to deliver what dealers and agents need from their F&I provider,” added Courtney Hoffman, APCO’s Chief Revenue Officer. “Michael and his team will fit seamlessly into our business, elevating how we support our growing channels.”
“We’re excited to join APCO as it allows us to better support our agents and dealers across channels.” said Capital Administrative Professionals President Michael Hunter. “The resources unlocked by this acquisition are unparalleled in the industry.”
CAP is one of two acquisitions the company announced today. APCO has also acquired Rider’s Advantage, the powersport industry’s most comprehensive F&I agency.
About Capital Administrative Professionals Capital Administrative Professionals works with providers and agents to deliver F&I products, services, wealth building solutions, and training to dealers in the automotive, RV, and powersports industries. For more information, visit capadminpros.com.
Rider’s Advantage
The addition of Rider’s Advantage marks a significant milestone as APCO further expands its product portfolio for powersports dealers, agents, and lenders.
Rider’s Advantage is widely recognized as the powersport industry’s most comprehensive F&I agency that provides a deep portfolio of products and training services. Since its inception, Rider’s Advantage has built a deep portfolio of products sold by over 1,000 powersports, marine, and RV dealerships.
“We couldn’t be more excited to welcome Rider’s Advantage to the APCO family,” said Tony Wanderon, CEO of APCO Holdings, LLC. “This acquisition increases our ability to deliver the products and services powersports dealers want and need, plus enhances our ability to support dealers across multiple channels.”
“The addition of Rider’s Advantage deepens our expertise in the powersports space—growing the value we offer to dealers and agents,” added Courtney Hoffman, APCO’s Chief Revenue Officer. “I am confident that Rob and his team will make immediately impact in this segment of our business and I’m excited to see how we come together.”
“Joining APCO allows us to provide an unprecedented level of value and support to the industry, while growing and preserving the integrity of our brand.” said Rob Hefner, President of Rider’s Advantage. “We are incredibly honored to be part of the APCO family.”
Rider’s Advantage is one of two acquisitions the company announced today. APCO has also acquired Capital Administrative Professionals, an F&I administrator.
About Rider’s Advantage Rider’s Advantage offers RV and powersports F&I products, services, training, and technology to dealers, agents, and financial institutions. For more information, visit riders-advantage.com.
About APCO Holdings, LLC Since 1984, APCO has grown to become a leading provider and administrator of F&I products for the auto industry. Built on a foundation of financial security and a commitment to understanding our customers’ needs, APCO is a trusted partner to some of the most well-respected insurers, highly successful dealerships, and leading auto industry players in the country. The company markets its products using the EasyCare, National Auto Care (now EasyCare), GWC Warranty, Crystal Fusion, and other brands, as well as other private label products, through a network of independent agents and an internal salesforce that specialize in consulting with and servicing the automotive dealership markets. EasyCare and GWC Warranty F&I products are the only “MotorTrend® Recommended Best Buy” in the industry. They also carry an A+ rating from the Better Business Bureau, support over 8,000 dealers, protected over 23 million customers, and have paid over $3.7 billion in claims. For more information, visit apcoholdings.com.
We own a 14-foot 1936 Lonestar fishing boat with a low-horsepower outboard named “Crappie Style.” My son, Sam, just celebrated his golden birthday, turning 15 in June. One of his summer goals is to pass the online course from BOATERexam.com, approved by the Minnesota Department of Natural Resources, so he and a friend can create their own fishing memories (Or should I say tales?).
The author’s son, Sam, who hauled in this small northern pike last year, is taking the initiative to become a well-informed and licensed boater.
The four-step process includes signing up, studying materials for an exam, printing off a temporary boating license and legally operating a boat. He’s currently managing his progress in step two of the exam. BOATERexam.com reports it has certified more than 2 million boating students — an impressive statistic!
I shared this personal story because while reading through the test with him, I saw a chapter on boat navigation lighting that discussed everything from sailing vessels to mandatory lighting situations as well as light colors, passing guidelines and other rules of the waterways. Like personal flotation devices (PFDs), lighting can be an unheeded topic for new boaters. Thankfully, my son has been on enough fishing trips at dusk with dear old dad looking for that last northern pike bite to know the significance of properly lighting a boat AND wearing a life jacket.
I also bring it up because Discover Boating, powered by the National Marine Manufacturers Association (NMMA) and MRAA, recently shared the fifth episode of its “Top Safe Boating Tips” series, produced in collaboration with Progressive Insurance®. The video Know Your Navigation Lights: Essential Tips for Safe Night Cruising, covers the proper use of navigation lights.
All these videos are designed for dealers and other industry stakeholders to share with customers and boating enthusiasts to educate, inform and create safer boating practices to enhance boating for everyone. That means sharing the link in one of your consumer touchpoints, such as follow-up emails, socially, or in your dealership newsletter!
And, as a parent, it’s reassuring to know videos like this exist. Boater education and safety tips are critical to help provide young operators more confidence while eliminating on-the-water mishaps. I’ll leave you with wisdom from Monica Fuentes, Discover Boating Ambassador, who says in the new video “Safety is our anchor. Always light up your boat responsibly and do your part in keeping our water secure … stay safe and boat wisely!”
• Testimony Highlights Benefits of MAPOceans Act and H.R. 8704 for Marine Retailers, Emphasizes Concerns Over Right Whale Vessel Speed Rule
WASHINGTON, D.C, June 27, 2024 – The Marine Retailers Association of the Americas announces that Jeff Strong, MRAA Board Chair and President of Strong’s Marine, testified before Congress on Capitol Hill regarding the MAPOceans Act and the Right Whale Vessel Speed Rule. His testimony provided key insights into how marine retailers stand to benefit from various bills before the committee while highlighting the shortcomings of the proposed Right Whale Vessel Speed Rule and the impact it stands to have on marine retailers.
Jeff Strong, MRAA Board Chair and President of Strong’s Marine, testifies Thursday, July 27 on Capitol Hill,
Strong, a leader in the recreational marine industry and advocate for marine retailers, spoke before the House Committee on Natural Resources, Subcommittee on Water, Wildlife and Fisheries. Testifying in support of the MAPOceans Act (H.R. 7925) and H.R. 8705, his testimony provided key insights as to how these pieces of legislation will provide more information to recreational boaters on the high seas and how increasing the availability of information pertaining to federal fisheries regulations and the ability to locate and detect Right Whales is crucial to ensuring that recreational boaters are good stewards on the water.
“Throughout my 51 years in the industry, I have seen firsthand the value that our coastal regions provide, not just as critical habitat but also as recreational spaces that support local economies,” said Strong. “The MAPOceans Act will address the need for standardized and accessible data relating to the public use of our waterways. By digitizing information about these waterways, like fishing restrictions and regulations, we are taking a step towards ensuring the safety and enjoyment of recreational boaters and anglers and the conservation of sport-fish populations. I again thank Representatives D’Esposito and Levin for their leadership on this important piece of legislation.”
Jeff Strong advocated for retailers and the marine industry during his testimony on Capitol Hill.
Strong also emphasized the importance of H.R. 8704, introduced by representatives Carter (R-GA) and Peltola (D-AK). This bill would pause any changes to the current North Atlantic Right Whale Vessel Speed Rule until 2030 while also establishing a grant program to foster enhanced coexistence between recreational boaters and North Atlantic Right Whales. Strong highlighted the economic impact that the currently proposed rule stands to have on marine retailers and the need for technological solutions to help conserve the North Atlantic Right Whale. He shared recent survey results done by the MRAA with the committee to showcase that the proposed regulation could have an overall impact of $2 billion for marine retailers down the Atlantic coast.
“The MRAA is committed to being the voice of marine retailers and ensuring that our concerns are heard at the highest levels of government is one of our top priorities,” said Matt Gruhn, MRAA President. “Jeff Strong’s leadership and dedication to our industry is invaluable, and his presence on Capitol Hill underscores our commitment to advocating for marine retailers, as we take every opportunity to educate lawmakers on how proposed regulations and legislation, like the Right Whale Vessel Speed Rule or MAPOceans Act, stand to hurt small businesses along the Atlantic coast or benefit recreational boaters and our member businesses.”
As the MAPOceans Act and H.R. 8704 continue to move throughout the legislative process the MRAA will continue to support these important policy initiatives while working closely with policymakers to advance the interests of our members and the broader recreational marine industry. For more information on MRAA’s advocacy efforts and how to get involved, visit MRAA.com/advocacy/ or contact MRAA Government Relations Manager Chad Tokowicz at Chad@mraa.com.
About the Marine Retailers Association of the Americas At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.
• Checking in with 2016 MRAA Educational Foundation Duane Spader Leadership Development Scholarship Recipient Ashley Read, Colorado Boat Center Co-Owner
A lot has happened in Ashley Read’s (Smith) career since she received the MRAA Educational Foundation’s Duane Spader Leadership Development Scholarship eight years ago. She married, bought a lake house and succeeded her parents as Colorado Boat Center’s co-owner along with her brother and GM Eric Smith. She also learned how to lead, remove emotion from situations and put the customer first, always!
Ashley Read (Photo courtesy CBC)
Q: What has your marine industry career been like since receiving the Duane Spader BusinessDevelopment Scholarship in 2016?
Read: I was in a pivotal year when I applied for the scholarship for the first time. My first application showed my apprehension in committing to the marine industry as a career. The next year was a lot of soul-searching, and I reapplied. My brother, Eric and I signed our succession papers for our family dealership the day I jetted off to the first Spader course. The course took me from a full-time salesperson to a leader within our organization.
Q: Why should the Duane Spader Leadership Development program be viewed as an investment?
Read: Change doesn’t happen overnight. It takes time to establish and adapt to new habits. The commitment to the program is a commitment to yourself and your organization. The way that Spader maps it out over a long period, allows the participants to learn in a classroom, take it back to their organization and implement changes. As participants, when we returned to the classroom, we would openly share what worked and what didn’t. The entire group was doing the work, and you had peers to celebrate your wins and brainstorm what didn’t work and what might work better next time.
Q: What sort of best practices did you retain from the Leadership Development program that still plays a role in your day-to-day at Colorado Boat Center?
Read: On the daily, favorable and unfavorable situations. I don’t have to pull the chart out as much as I used to, as it’s become second nature, but I use these to manage employees and to work with customers. This tool takes the emotion out of the situation.
Q: How important is it to engage employees to keep them invested in the business throughcontinued training, certification, or scholarship opportunities?
Read: When your employees invest themselves in learning the ins and outs of the dealership and want to know how they can contribute to the success of the dealership, it’s a win-win for everyone involved. We regularly have meetings about the overall health of the dealership and break it down by department while allowing team feedback. We’ve found that our transparency has improved our culture. Rarely do we have to ask our employees to take training courses. They’re usually the ones to ask us. They take more ownership when it’s their idea.
Q: Will you explain what it’s like to be an integral part of your family’s business and how you juggle the work/life balance with parents and siblings?
Read: You would laugh if you compared my family’s DiSC personality profiles. We’re a mix of high I, D and C — off the charts in all and in 97%. If it weren’t for the DiSC profiling, we’d probably not work well together, but it’s quite the opposite. It took COVID for us to realize how important work/life balance was for all of us. We cut our days of operation from six days a week to five. It made us all realize there was more to life than just the family dealership. We encourage each other to make time for passions outside of boating and take time off, whether as a family or individually. It has improved the overall health of our family and the dealership.
Q: As a women professional and co-owner, how can your success help inspire your workforce and other women to keep pushing for their dreams?
Read: Being a woman in the industry doesn’t define my role and/or fuel my success. I’ve learned so much from both men and women in the industry, two of which are my parents, who have taught me so much. I’ve learned how to leverage my success by knowing the advantage of being unique in a male-dominated industry. When you’re a woman and you can talk about motors and boats intelligently, you win the praise of your male clients and the trust of the women. For anyone in the industry, it’s hard to fake the passion of boating. You either love it or you don’t. If you don’t, it will show in your results.
Q: Will you describe a customer experience that has helped you change or adapt your approach to selling?
Read: It was a Saturday afternoon in the middle of June. We’d already turned off the open sign and were getting ready to run into the weekend when a family walked in the side door that hadn’t been locked yet. They were in town for a softball tournament and decided to look at boats during a break between games. They had never owned a boat, so they weren’t sure if they would even have the time to go boating. They wanted to know everything. My mind was already on the weekend, and I was struggling to turn the attention off of myself and onto this family that thinks maybe they want a new boat. They were very energetic, and it was hard to keep them all rounded up as they were distracted by all the shiny boats we had on display. I was losing control of the sale.
At that time, I mustered up every ounce of energy I had left, shifted the focus to them and adapted to the situation. Soon after, the rapport came easy and we were all having fun. I did not close the sale that day. I beat myself up pretty hard, wishing I’d been more on point and focused on why they came in. I felt it was going to be a hard lesson learned.
The following business day, I got a phone call from this same family, which turned into another dealership visit and then them purchasing the most expensive boat in the showroom. To this day, this family is one of my most loyal customers and has since referred more customers to me. In one of their CSI surveys, which they gave us 100%, they mentioned coming in after hours and how I spent so much time with them when I could have told them we were closed.
In the leadership program, we learn how to adapt to different situations and change them by adjusting ourselves. Whether it be your attitude or personality, there are ways to shift one or both to have better engagement with your customers. I still think I got lucky that day. If I hadn’t had the tools to adapt and change the situation, it could have been someone else’s lucky day.
(From left) The Smith family in Tom, Nancy, Eric and Ashley Read (Smith) has led the Colorado Boat Center, an MRAA Gold Member and Certified Dealership, since 1990. (Photo courtesy CBC)
Q: Your dealership is on its second generation, as are many of your clients, so what does it mean for your business to maintain your family legacy and second-generation loyalty with your customers?
Read: There are so many pain points for everyone involved in succession, not limited to just family, and like our situation, one day it finally clicked. It is important to respect the first generation and honor the blood sweat and tears it took to establish and make the business successful in the first place. As a second-generation-owned business, the goal isn’t to reinvent the wheel but to carry the same values while implementing new ideas that speak to the new generation doing business with us so they, too, have a great experience.
Q: Will you describe a perfect day on the water?
Read: “Sunday fun day” with my husband, my brother and my sister-in-law. I’m blessed to live on a private lake that allows us to take full advantage of boating without the hustle and bustle of the public lakes on the weekend. Our day starts at 7 a.m., with waterskiing. We break for breakfast, have an afternoon surf session and top off the day with a sunset pontoon cruise.
Q: What keeps you busy when you’re not working or on the water?
Read: Time with family and friends, my cat, Pilates, baking, reading and traveling to a new destination each year.
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