Introducing the New MRAATraining Platform

We’re excited to announce that MRAATraining is getting a major upgrade! In early May, 2025, we’re rolling out a brand-new Learning Management System designed to improve the learning experience for MRAA Members. With a fresh focus on training for boat dealers, the new platform is smarter, more social, and built for both desktop and mobile users.

The upgraded system includes features like discussion boards, progress tracking, course assignments, and customizable portals. Whether you’re an individual learner or managing a full team, you’ll find it easier to connect, collaborate, and grow.

This launch is the result of months of hard work by the MRAA Education Team, fueled by member feedback and hands-on user testing. The result? Smarter navigation, better content organization, and personalized learning tools that make accessing education simpler than ever. This project reflects MRAA’s ongoing dedication to listening, adapting, and delivering tools that meet the real-world needs of retailers in the marine industry.

Below, you’ll find a preview of the new features and benefits designed to elevate your team’s training experience.

Enhanced User Experience

The platform features a modern, intuitive design that makes learning easy. Users can navigate dashboards for assignments, events, notifications, and progress tracking with ease. The refreshed course catalog offers engaging, relevant content. Plus, improved tools and clear tracking help both learners and admins stay focused and on track.

Collaboration Redefined

Advanced admin tools give dealers more control. You can assign courses, track progress, host conferences, manage calendars, create discussion groups, and send direct messages – all from one place. This helps dealerships stay connected and keeps training organized.

Flexible Training for Boat Dealers

Learn on your terms. Access your training from a browser or the Talent LMS mobile app. Whether your role is a learner or an admin, your courses and learning metrics are available in one convenient location.

Gamification Features

With features like discussion boards, training calendars, and a built-in point system, learning becomes more interactive and rewarding. Earn badges, track your progress, and even challenge your teammates on the leaderboard.

Customizable Portals

Dealers and manufacturers can now upgrade to custom, white-labeled portals. These bring together internal content and MRAA’s expert courses into one seamless training platform.

Large dealer groups and industry partners can purchase self-managed or premium portals to deliver targeted training to their teams or distribute select MRAA courses across their organization. This flexibility empowers companies to provide consistent, branded training experiences that align with their unique needs and goals.

Dealer using MRAATraining platform for boat dealership onboarding.

Whether you’re looking to advance your own career or support your team’s professional growth, the redesigned MRAATraining platform makes it easy to access the tools you need. This powerful online education hub offers a wide range of marine dealership training courses, all tailored to your MRAA membership level.

From onboarding entry-level employees to developing senior leadership, MRAATraining delivers personalized learning opportunities for every stage of your dealership’s success.

Not a member yet? Now’s the perfect time to join MRAA and get access to this powerful new training experience!

Beneficial Ownership Reporting Requirements Removed

• Marine Retailers Exempt from Burdensome Regulations

WASHINGTON, April 1, 2025 – The Marine Retailers Association of the America (MRAA) announced today that on March 21, 2025 the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule which removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act. While the interim final rule provides relief for MRAA members and small businesses, the MRAA Government Relations Team will pursue a durable and lasting solution to ensure that this relief is not temporary.

Beneficial Ownership Reporting Requirements Removed -Corporate Transparency Act Update
Updates & Comments

The interim final rule put forth by FinCEN is a welcome update in the long saga of  CTA implementation and enforcement, which has been marred by court ordered stays and various legal decisions. In our last update, on March 3, we highlighted that previously, FinCEN had extended the BOI reporting deadline to March 21, and announced that no enforcement actions would be taken until an interim final rule became effective. The March 21 interim final rule removes the BOI reporting requirements, providing major relief for MRAA members and small businesses. The U.S. Treasury Department is currently taking public comment on the interim rule and the MRAA will join other trade associations in submitting comments to support the interim rule’s relief for small businesses.

“We are very pleased to see that FinCEN’s interim final rule exempted U.S. businesses and persons from reporting BOI under the CTA,” said Mike Sayre, MRAA Government Relations Manager. “The MRAA has been working tirelessly to educate members of Congress and the administration bout the negative impacts this would have on our members, and we feel the interim final rule reflects lawmakers hearing our concerns and providing relief for U.S. small businesses.”

The MRAA, as part of the Main Street business community coalition, joined over 100 trade associations on a letter to Secretary of Treasure, Scott Bessent, applauding the interim rule and noting our support for the relief to small businesses. To read the letter, click here. Despite the interim final rule removing the BOI reporting requirement, additional action is needed to ensure a durable and lasting solution that is not subject to reversal, and possible expansion, from a different administration. To ensure that this relief for marine retailers remains, the MRAA will continue to work with its champions on Capitol Hill to repeal the CTA by passing the Repealing Big Brother Overreach Act (H.R. 425/S. 100).

“While we are glad to see that the interim final rule provides immediate relief for marine retailers and small businesses, our work here is not done,” said Chad Tokowicz, MRAA Government Relations Manager. “The MRAA will continue to monitor activity in the courts and spend time on Capitol Hill to garner support for the Repealing Big Brother Overreach Act, which would effectively overturn the CTA. We are dedicated to finding a long-term solution for our members to ensure that BOI reporting is never a burden for marine retailers. The MRAA Government Relations Team has your back and is fighting to ensure that you can continue to run your businesses without onerous regulations and requirements put on you from the federal government.”

For now, marine retailers can disregard the CTA, BOI reporting and the associated penalties, allowing them to focus on getting ready for spring commissioning and helping customers make lasting memories on the water.

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.

Shoot. Pass. Dribble.

I remember hearing about the triple threat when I was youngster learning basketball. For those unfamiliar with the term, it’s simply a position you should be in when you have the ball. You should be in an athletic position that lets you shoot, pass or dribble. Ideally, you want to read the defense and keep them guessing, wondering which of these three things — Shoot. Pass. Dribble. — you will do. Elite players can do them all effectively and efficiently.

Recently, I was reminded of this position off the basketball court. As an MRAA employee, being in an active position for success is crucial when we engage our dealer and partner members. It’s like applying the “triple threat” mindset beyond the basketball court.

I recently engaged in three very different, but equally valuable, interactions — reconnecting with a dealer, attending a partner press event and meeting with a MRAA Education Champion. Each moment reinforced how critical it is to stay engaged, listen and support our network. Just like in basketball, versatility and teamwork lead to progress.

Shoot

A few weeks back, I rang a dealer as part of a call campaign. The phone meeting was supposed to last around 30 minutes, but it went twice as long. While that may not be a great thing for either person’s busy schedule, especially on a Saturday morning, in this instance, the duration of the call was reinvigorating.

I reconnected with Jake Evans at Inland Boat Company, who’s membership had expired. We talked boating, from lifestyle to HR to marketing and more. He shared his wins, struggles and outlook for the future — for his business and the marine industry at large. For me, this was Jake and I passing the ball back and forth as we reconnected and had a meaningful conversation. In the end, once I hung up, my adrenaline flowed and I felt as though I nailed a game-winning shot. That’s because not only did Jake renew his membership, but also we left the door open for future conversations. Revisit this MRAA case study we did with Jake.

A recent trip to North Dakota gave us a chance to see the Vantage Resource Group headquarters and dedicated faces behind the brand. Our meeting also discussed opportunities to help boat dealers find more ways to succeed and boost customer experience.
Pass

I recently hit the road in my reliable Toyota Tundra for Fargo, N.D. There, I spent time with Ross Solwold and his dedicated team at Vantage Resource Group, Inc. , one of the MRAA’s Education Champions. We enjoyed lunch, I toured the shop and discussed the current boating industry. This was all before our 1 p.m. meeting to introduce the MRAA, our mission and how Vantage, as a key education partner, could help contribute to dealer training, education and growth. This meeting required equal amounts of dribbling, passing and some future shot-taking. With their passion and talents, the shot(s) the Vantage team will take are sure to touch nothing but the bottom of the net.

Dribble

Last week, I was invited to a marine industry press event. Rushton Gregory Communications hosted it for Radian IoT (MRAA Standard Partner) and Northpoint Commercial Finance (MRAA Strategic Partner). This one felt more like I was a bench player watching the starting five execute play after play … passing, shooting, dribbling and scoring!

They achieved their objective of introducing the MRAA (me), trade media and others to an innovative pilot program to support marine supply chain management. It was a well-run event featuring crisp passes to several industry experts, who offered firsthand testimonials of how the new technology would benefit them. It gave me a better understanding of the businesses participating and the value of the product being showcased. Networking was an additional benefit. It seemed like the ball had been passed to me to dribble out the clock. Read that news here.

Alley-oop

I share this basketball analogy because, well, the NCAA Final Four is set (so it’s super timely), but also because these three interactions with our members rewarded me with conversation, camaraderie, insights and more industry knowledge. None of these conversations were really about selling. Instead, they were about human connection and helping boaters. It also left me hungry for future conversations with fellow recreational boating colleagues and continuing the MRAA mission.

  • Dealers: Have a best practice that has helped your dealership and team win or stand out? Share it with me, so we can give you the credit AND help your peers and our industry overcome! I want to help you get a good shot and celebrate your success with others.
  • Partners: MRAA Platinum Partner Members and above, you have the marine industry and insights and help dealers every day. Let’s pass each other the ball until we find our open shot. That’s how we build education (blogs, vlogs, infographics and more) together that dealers can use to improve their game.

Call me (763-402-7230) or

Email Jerrod Kelley

5 New Partner Members Join the MRAA

MINNEAPOLIS, March 31, 2025 — The Marine Retailers Association of the Americas (MRAA) announces five new Partner Members — Gtechniq Marine, Lahzo, Mannix Marketing, TruVideo and Shore Hitch — joined the association recently.

New Partner Members Join the MRAA

Through Partner Membership, marine manufacturers, suppliers, and service providers showcase their dedication to the industry’s growth and success. By aligning with MRAA’s impactful programs and initiatives, these partners actively support the Association’s mission. Their contributions help expand MRAA’s resources, enhance its offerings and create lasting benefits for members, ultimately strengthening the entire marine business community.

5 New Partner Members Join the MRAA
  • Gtechniq Marine (Cumming, Ga.) is committed to innovation and quality, they continue to set the industry standard for boat maintenance and protection. Whether combating UV damage, oxidation or everyday wear, these advanced solutions provide boat owners with the confidence that their vessel will remain in peak condition.
  • Lahzo (Atlanta, Ga.) introduces industry-specific AI solutions designed to create a seamless revenue cycle, combining data-driven marketing with AI-powered sales agents. Their technology ensures consistent performance, instant customer engagement and unlimited scalability. With intelligent automation at every stage, businesses can drive growth efficiently and effortlessly.
  • Mannix Marketing (New York, N.Y.) delivers high-performance, SEO-friendly website designs that blend style and functionality. Businesses can enhance their online presence, attract more traffic and convert leads into sales. With a focus on both aesthetics and performance, their websites are built to stand out and drive results.
  • TruVideo (Wellesley, Mass.) provides a powerful platform designed for seamless integration, bringing advanced messaging, video and AI capabilities to existing systems. With its robust software development kit (SDK), businesses can effortlessly incorporate TruVideo’s auto service technology into their user interface. More than just an add-on, it offers a scalable solution that enhances communication and customer engagement. This innovation enables companies to streamline operations and improve service efficiency.
  • Shore Hitch (Lake Havasu City, Ariz.) introduces a patent-pending anchor designed to transform the way boaters secure their vessels along shorelines. Frustrated with outdated and unreliable options, the creators developed an innovative, durable and user-friendly solution. Engineered by boaters for boaters, they offer a new level of convenience and security on the water. More than just an anchor, it’s a game-changing solution for stress-free boating.

“The MRAA is thrilled to welcome Gtechniq Marine, Lahzo, Mannix Marketing, TruVideo and Shore Hitch as new Partner Members,” says Freya Olsen, Senior Director of Engagement. “Their partnership strengthens our ability to enhance resources, expand educational programs and advance industry initiatives that empower marine retailers. We look forward to many collaborative opportunities to drive innovation, foster growth and create lasting success across the marine industry.”

Dealer members are encouraged to explore the list of companies that actively support the MRAA across four partnership levels. View the full 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.

Radian IoT, Northpoint Commercial Finance Launch New Pilot Program to Support Marine Supply Chain Management

March 27, 2025, Alpharetta, GA. – Radian IoT and Northpoint Commercial Finance announce a new groundbreaking pilot program leveraging Radian IoT’s state-of-the-art GPS tracking technology for direct testing among select Northpoint OEM and dealer customers.

This pilot program featuring a sampling of Northpoint customers is designed to test the delivery of real-time insights into OEM inventory level management, production trends and delivery timelines to enable more efficient production planning and tracking. On the retail front, Radian IoT technology is expected to yield precise in-transit tracking, greatly improve inventory reporting and enhance customer service through real-time data on stock units.

Radian IoT and Northpoint Commercial Finance Launch New Pilot Program to Support Marine Supply Chain Management
(L-R) Northpoint customer John Baranski, lead foreman of Miami Nautique International, shown with Northpoint VP Gary Childress, right, is actively engaged in the recently launched Northpoint – Radian IoT pilot program to test the latest in GPS tracking technology. (photo supplied by Rushton Gregory Communications)

“This powerful collaboration allows Northpoint to initially test and leverage Radian IoT’s award-winning technology and innovation within the marine finance space, with the goal to deliver unparalleled insights and greater efficiencies related to inventory management throughout the supply chain funnel,” said Northpoint Vice President of Marine Operations Gary Childress. “If the test results deliver as anticipated, we would look forward to expanding the program throughout our customer base.”

Radian IoT President Scott Crutchfield added, “We are incredibly proud to partner with Northpoint Commercial Finance, a leader in the industry and an early adopter of Radian IoT technology. Northpoint clearly understands the immense value of eliminating distractions and disruptions in the workplace. “In addition, Northpoint understands that transparency is essential for building trust between manufacturers, dealers and the finance company. By leveraging our unique capabilities, Northpoint is facilitating stronger internal controls and improved efficiency which is expected to reduce inventory management complexity for its customers.”

Bruce Van Wagoner, former president of GE Capital Marine Group and subsequently Wells Fargo, also recognized Northpoint’s leadership role in this important initiative.

“I applaud Northpoint for recognizing and partnering with Radian to test its technology among a select sampling of OEM and retail customers,” he said. “After many years leading the bank’s financial commitment to the recreational marine industry, I’m convinced that relationships and the understanding of the challenges of a seasonal, cyclical, multi-segment and complicated business are keys to success. While we used the best data available to create metrics to monitor portfolio health, that data was often dated, incomplete and inaccurate, and therefore not as useful as anyone would have liked. Radian IoT offers a proven solution to improve builder, reseller, supplier (including banks and insurance companies) and consumer experience as a direct result of its revolutionary hardware, platform and monitoring technology available via its mobile app.”

Jeff Strong
Jeff Strong

Jeff Strong, Owner and President of Strong’s Marine with multiple New York retail locations, is among the first to participate in the new pilot program.

“We expect Radian telematics to improve transparency with our industry partners,” said Strong. “When our builders, banks and insurance partners understand our inventory position at all times, we are confident it will reduce administrative costs and any perceived risk.”

Parker Stair, Chief Sales and Marketing Officer of Helios Marine Group and Montara Boats of Loudon, Tenn., agrees.

“The data we receive from Radian is incredibly valuable,” said Stair. “We use the location data almost daily to determine where boats in transit are located. The data we receive also saves us in warranty, helps us increase turns and allows us to make smarter decisions all around.”

“We like the Radian solution because it links all stakeholders into the equation,” added John Dorton, CEO, Invincible Boats. “Manufacturers have much more intel on how our products are used so we can make smarter decisions for product development and warranty. Service providers like lenders and insurers have greater control and less risk, while consumers have greater insight and security regarding their vessel. It’s not just a valuable tool; it’s a necessity in today’s marketplace.”

For more information on Radian IoT, Inc. and its full line of capabilities, visit radianiot.com or request a demo by emailing Radian Founder/President Scott Crutchfield at scott.crutchfield@radianiot.com.

For more information on Northpoint Commercial Finance, visit www.northpointcf.com.

About Radian
Radian’s mission is to provide enterprises with the most powerful data in the Marine, Powersports & RV industries. Unlike aftermarket approaches, Radian devices are attached during the manufacturing process or prior to consumer delivery to turn assets into data generators thereby delivering data-driven intelligence. Radian leverages real-time asset and sensor data to provide supply chain optimization, intelligent logistics and asset management solutions through big data & predictive analytics. Radian provides an agile and comprehensive, SaaS platform for manufacturers, their dealers and consumers, bringing everyone together to deliver outstanding customer satisfaction. radianiot.com.

About Northpoint Commercial Finance
Northpoint Commercial Finance, with offices throughout North America, is a diversified financial solutions provider offering floorplan finance, equipment financing, inventory lending, and asset-based financing. An experienced lender, they offer a wide array of program structures to meet the needs of original equipment manufacturers, distributors, resellers and dealers in a variety of consumer and commercial products industries. Their team offers a creative, flexible and personal approach combined with innovative technologies, and streamlined processes. For more information about Northpoint’s product offerings, visit northpointcf.com.

Radian IoT (Standard) and Northpoint Commercial Finance (Strategic) are MRAA Partners.

New Safe Boating Video Series from Discover Boating

• New video (E1S4) of the boating safety series offers tips for boaters on preparing their boat for new season ahead

Discover Boating, powered by the NMMA and the MRAA, is helping you to engage your customers, offering a series of boating safety video that educate and connect with the next generation of boaters. These shareable videos and messaging help dealers and other industry stakeholders engage new boaters, whose path to purchase looks very different from previous generations.

Discover Boating and Progressive strategically created short-form videos (in addition to longer form versions) that can be shared on social channels, such as TikTok and Instagram — popular platforms where target audiences consume digital content.

New Discover Boating Safe Boating Video Launches

This first episode in the new series, “How to Prepare Your Boat for Boating Season,” can be viewed below and on Discover Boating’s YouTube channel (or watch below).

“Following the success of our previous three award-winning video series, Discover Boating is thrilled to team up with Progressive again on the launch of this new, five-part series,” said Kevin Williams, NMMA’s vice president of North American marketing. “Since the debut of the first series in 2022, our safe boating videos in collaboration with Progressive have amassed more than 10 million views across Discover Boating’s digital channels, significantly boosting awareness of on-water safety best practices, especially important given the surge of new boaters entering the market in recent years.”

The latest safety video series covers essential safety topics, including:

  • Preparing your boat for boating season
  • Boating with kids
  • Life jackets
  • Float plans
  • Sound signaling devices.

“As the No. 1 boat insurer in the country, safety education among boaters is a top priority for Progressive to ensure boaters feel confident on the water, establishing a safer, more fun boating experience for all participants,” says Eric Doubler, Progressive Recreational Lines Direct Business Leader. “Knowing we share this sentiment with Discover Boating, creating an engaging video series like Boat like a Pro is one of the ways we are working together to enhance our educational resources that support boaters throughout their on-water adventures, regardless of their experience level.”

New Safe Boating Video Series from Discover Boating
Along with the New Safe Boating Video Series from Discover Boating, additional resources are available to dealers in the Discover Boating Industry Resource Center.


Safe Boating Video Series

To ensure boaters are equipped with expert safety tips as they get ready to hit the water, the new Safe Boating Video Series from Discover Boating will air throughout the spring months. Video promotion plans include: consumer emails, blog articles, DB TV section and the Discover Boating Industry Resource Center.

As an industry stakeholder, you are encouraged to share the boating safety videos in your various channels as well, including your social media feeds, newsletter and on the screens in your showroom. These videos can help to provide customers with engaging safe boating content.

6 Benefits of an F&I Department

• The Critical Role of F&I Departments in Marine Dealerships: Enhancing Profitability and Customer Satisfaction

By Brenda Cline-Kereakes, COO, Line\5

In the marine industry, delivering an exceptional customer experience is just as crucial as selling boats. Yet, many dealerships overlook one of the most powerful tools for ensuring customer satisfaction, financial stability and long-term profitability — the Finance and Insurance (F&I) department. A recent MRAA survey revealed that 39% of marine dealerships lack an F&I manager or department, which means many dealers are missing out on significant revenue opportunities and customer service enhancements. They are missing out on the benefits of an F&I department.

An F&I department is more than just a paperwork-processing hub. It is a strategic component of a dealership that provides tailored financing solutions, protects customers’ investments and enhances their overall ownership experience. When implemented correctly, a strong F&I department not only increases dealership profitability but also builds trust with customers by offering them financing options, warranties and protection plans that make boat ownership more accessible and worry-free. Let’s take a closer look at 6 benefits of an F&I department.

6 Benefits of an F&I Department

  1. Increased Revenue & Profitability: A well-structured F&I department generates revenue by offering financing solutions, extended warranties and ancillary products. Marine dealerships that provide these services in-house retain a larger share of profits rather than losing them to third-party lenders or financial institutions. Every boat sale presents an opportunity for additional revenue through financing and protection packages, helping dealers maximize each transaction’s profitability.
  2. Enhanced Customer Convenience: Boat buyers often need financing solutions to make ownership possible. An in-house F&I department streamlines the purchasing process by offering convenient financing options directly at the dealership. Customers prefer one-stop shopping experiences, where they can secure financing and protection in the same place they purchase their boat. This seamless experience enhances customer satisfaction and encourages long-term loyalty.
  3. Improved Customer Trust & Protection: Purchasing a boat is a significant financial investment. Without an F&I department, customers may be left vulnerable to unforeseen repair costs and depreciation concerns. F&I professionals educate customers on available protection plans, extended warranties and GAP insurance, helping them make informed decisions that safeguard their investment. This added layer of protection builds trust and reinforces the dealership’s commitment to customer care.
  4. Competitive Advantage: Dealerships that offer financing and insurance solutions gain a significant competitive edge over those that do not. Buyers are more likely to choose a dealership that provides flexible financing, extended service plans and insurance options rather than seeking third-party financing elsewhere. Offering these services in-house not only retains customers but also strengthens the dealership’s reputation as a full-service marine retailer.
  5. Stronger Customer Relationships & Repeat Business: An F&I department fosters long-term customer relationships by providing continuous support beyond the initial sale. Customers who finance through the dealership and purchase protection plans are more likely to return for future purchases, upgrades and service needs. By building trust and offering ongoing financial solutions, dealerships can turn one-time buyers into lifelong customers.
  6. Compliance & Risk Management: Navigating the complexities of lending laws, compliance requirements and insurance regulations can be daunting. Additionally, an F&I department ensures that all financing agreements and contracts meet legal standards. Also, this protects both the dealership and its customers from potential liabilities. Having dedicated F&I professionals who understand compliance helps dealerships avoid costly legal hazards and maintain ethical business practices.

How Dealers Can Implement a Successful F&I Department

For dealerships currently without an F&I department, establishing one may seem like a daunting task. However, there are several steps dealers can take to integrate F&I services seamlessly into their operations:

  • Invest in Training & Certification: Educating staff on F&I products, compliance and best practices is essential. Many industry organizations offer certification programs that provide the necessary knowledge and skills.
  • Partner with Reliable Lenders & Providers: Building strong relationships with financial institutions and F&I providers ensures that dealerships can offer competitive financing rates and protection products.
  • Utilize Technology for Efficiency: Digital contracting, e-rating and online financing applications streamline the process, reducing paperwork and improving customer experience.
  • Prioritize Transparency & Education: Customers appreciate honesty and clarity. Providing clear explanations of financing options and protection plans builds trust and encourages informed decision-making.
Why Do F&I Departments Matter?

F&I departments are essential to the long-term success of marine dealerships. By offering financing solutions, extended warranties and protection plans, dealerships not only increase their profitability but also improve customer satisfaction and retention. With nearly 40% of marine dealers lacking an F&I department, there is a tremendous opportunity for growth and differentiation within the industry.

For dealers looking to strengthen their operations and enhance the boat-buying experience, investing in an F&I department is a crucial step. Finally, By doing so, dealerships can drive success for themselves, their customers and the marine industry as a whole.

6 Benefits of an F&I Department

About the Author
Brenda Cline-Kereakes is the Chief Operating Officer of Line\5, a leading provider of financing solutions for F&I products in the marine, automotive, RV and powersports industries. With decades of experience in financial services and dealership operations, Brenda is passionate about helping dealers maximize profitability and enhance the customer experience. Connect with Brenda or learn more at www.line5.com.

Line\5 is an MRAA Platinum Partner

Successful F&I Operations, Whether In-House or Outsourced

By Robert Grant, Associate Director of OEM Business Development, Lightspeed

Successful F&I Operations
(Back left) Eric Smith, GM at Colorado Boat Center, is a second-generation co-owner with his sister Ashley Read, who took over for their parents Nancy and Tom Smith a few years ago.

In the marine industry, dealerships are like the old Transformers cartoons — “there’s more than meets the eye” when it comes to running them. While selling boats is a foundational piece of the puzzle, having successful F&I operations is a key piece to the overall revenue and prosperity of the business.

Based on a study published in autonews.com the average F&I profit per retail unit is less than $800. Top performers average more than $1,100 per unit. It was also found that service contracts had a 38% penetration rate for the average F&I office. The top performers had a 54% penetration rate.
However, some dealerships might feel ill-equipped to offer financing, warranties and other protections due to the complexity of the products and the sales process. So, they need to decide if they hire an F&I sales specialist or outsource it to a third-party supplier and how they can achieve success regardless of the direction.

We talked to Eric Smith of Colorado Boat Center (an MRAA Board member) about his experience with F&I. He shares how they’ve found a system that works for their dealership.

Integration into the Sales Process

One key element of a successful F&I operation is to implement it seamlessly into the sales process. Smith recommends that the F&I part of the process would actually happen earlier, before the deal is close to being closed.
“My biggest pet peeve when I go into a car dealership is when I sit down at that finance desk. I’ve already decided on the truck. I know what I’m buying, and I know what I’m paying, and we’ve agreed to that,” said Smith. “And then all of a sudden, the finance manager comes in and sells me all of these extra products. No, you’ve already taken me outside my comfort zone, so now I’m gonna shield up.”
Whether it’s in-house or outsourced, it’s critical to have the F&I be a part of the conversation throughout. Don’t bombard customers at the last minute.
While Smith outsources their FYI to a third-party provider, the lesson extends to both, that it should be fully integrated: “Our F&I reps are touching every deal and they’re touching all of our finance deals and even our cash deals.”

Believing in What You Sell

As with any good salesperson, you make the most impact when you put your own money where your mouth is. Smith experienced that first-hand when he was selling Vantage protection wraps as a part of his F&I program. He explained that he had not been sold on it personally for several years, but then it all changed.
“I had some damage done on one of my pontoons from a detailing job. And so I said, ‘Okay, I’ll order this and put it on my boat.’ I had my boat in the showroom as I was installing this product, and I hadn’t even finished it, and I had sold three products.”
This goes to show that the protections and warranties that you can sell through F&I are so much more impactful when you can show how it can really affect the customer.

Selling with Heartstrings, Not Fear

However, selling the importance of protection shouldn’t come with fear. Smith clearly outlines how it’s more about the heart than the fear.
“You just have to be able to comfortably say, ‘Okay, we offer these additional products. And this is the benefit that this product is going to get you. And you’re making an investment into this lifestyle, so let’s go ahead and protect it.”
Smith adds that it’s a more welcoming approach. While you’ve “got” the customer in the sales funnel, show them the importance of the protection products. “If you use fear and say ‘I think you need an extended warranty, that engine is going to blow up in 2 years, they’re going to wonder if they should really even buy the boat.
“Just draw on those heartstrings to bring them in,” continues Smith. “We’ve already got them sitting down, and whether you have an in-house person that you introduce them to, or you have the offsite person that you hand them off to, you already have the relationship built. We’re just protecting you and your investment.”

Have an F&I Integration

Regardless of your choice, there are a lot of benefits to an integrated tool (like Lightspeed) to help make your F&I operations run smoothly.
With so many different F&I product and service providers, having a system in place that can integrate with those providers will help reduce your manual data entry processes. Since you have already entered the buyer and unit information, with a single click of the button, transmitting the details directly to your third party will eliminate errors and increase efficiency for processing contracts.
With the latest technology, third-party F&I providers can even push updated totals and deal details back to your Dealership Management Software (DMS). This has the opportunity to eliminate errors and increase your efficiency for processing. Encourage your providers to reach out to implement the latest features.
In addition, being able to run your credit checks with the push of a button is a critical key in the overall financing process. Whether you are doing a soft pull or full checks including red flag, OFAC, having the ability to automatically transmit the customer information to the bureaus will save you time and money.

Streamline Your Process

Above all, it’s about streamlining the process. A lot of dealerships use multiple systems in the sales process. Many have a separate CRM to track and manage leads, a separate quoting/desking tool, a separate F&I menu and multiple F&I product providers which use different systems. This reduces efficiency by requiring multiple points of manual data entry which can introduce errors along the buying journey. Look at your process and ensure that you have a DMS in place that allows you to track your customers’ entire buying journey in one place.
While there’s more than meets the eye in the marine industry, if you have a streamlined operation (complete with F&I) you can have a thriving business and loyal customers.

F&I Operations

About the Author
Rob Grant, Associate Director of OEM Business Development at Lightspeed, has dedicated almost three decades to enhancing the marine dealership experience. His deep-rooted commitment to the marine industry is driven by a profound understanding of the unique challenges and opportunities within this sector.
Rob has spent years immersed in dealership workflows, giving him a firsthand understanding of the challenges marine dealers face — from service scheduling to sales efficiency. His work is especially focused on RECT (Repair Event Cycle Time) and how strategic OEM and third-party integrations can simplify day-to-day processes, improve communication and reduce friction for dealers and their customers.
Today, Rob is a key advocate for marine dealerships within Lightspeed, helping manufacturers and dealers alike harness the power of data-driven decisions and modern DMS tools. His collaborative approach and industry expertise have helped shape stronger, more connected dealership networks. Rob lives in Utah. He enjoys spending time with his family, boating on local lakes and supporting the continued innovation of the marine industry he proudly serves.

Lightspeed is an MRAA Strategic Partner

Fueling Profit & Trust: The Power of a Strong Marine F&I Department

The Challenge: Navigating the Marine F&I Landscape

Marine dealers today face increasing challenges in Finance & Insurance (F&I), from stricter lending laws and regulations to customers hesitant about financing options. According to a recent survey by the Marine Retailers Association of the Americas (MRAA), 39% of dealers reported lacking a dedicated F&I Manager or Department, leading to missed revenue and lower customer confidence. The Solution: Establishing a Strong Marine F&I Department.
A well-structured F&I department isn’t just about processing loans — it’s a key driver of dealership success.

Here’s why:

  • Boosting Profitability – Marine dealers with a strong F&I Department and processes see an average of more than $1,100 in gross profit per unit through financing and protection products with little or no addition to overhead or inventory management.
  • Enhancing Customer Confidence – With about 60% of boat buyers financing their purchase, a knowledgeable F&I team helps them navigate options, creating a smoother transaction.
  • Increasing Protection Product Sales – Top-performing marine dealers achieve over 50% penetration rates on service contracts, like extended warranty and GAP insurance.
  • Streamlining the Sales Process – Sales teams can focus on selling while the F&I team ensures seamless financing, reducing delays and increasing efficiency.
  • Reducing Risk & Compliance Issues – F&I professionals help dealers stay compliant with regulations, protecting the business from potential legal pitfalls.
  • Leveraging OEM Captive Finance Partners – Partnering with an OEM-backed finance provider gives dealers access to competitive rates, exclusive programs, and seamless integration, helping customers get the best financing options available. OEM backed finance partners also work to help boost customer retention.
4 Actionable Steps for Marine Dealers
  1. Invest in F&I Training – Certification programs and in-house coaching help maximize F&I revenue.
  2. Leverage Digital F&I Tools – Online applications and pre-approvals streamline the process for customers.
  3. Offer Transparent Financing Options – Educating buyers on finance choices reduces hesitancy and increases deal closures.
  4. Partner with OEM Captive Finance Providers – Taking advantage of specialized marine financing ensures competitive rates and better customer satisfaction.

An effective F&I department isn’t a luxury — it’s a necessity for marine dealers looking to increase profitability and improve the customer experience. By prioritizing F&I expertise, leveraging captive finance partnerships and refining processes, dealers can drive higher approval rates, repeat purchases and stronger customer retention.

Fueling Profit & Trust: The Power of a Strong Marine F&I Department blog

About the Author
Yamaha Motor Finance Corporation, U.S.A., dba Yamaha Financial Services, is an affiliate of Yamaha Motor Corporation, U.S.A. offering financing solutions to support Yamaha Dealers and loyal Yamaha Customers nationwide.

Sources:

  1. MRAA, survey on in-house F&I challenges. Retrieved from MRAA internal source.
  2. Lightspeed DMS – “F&I Efficiency for Profits.” Retrieved from LightspeedDMS.com
  3. Priority One Financial Services – “Maximizing F&I Opportunities for Boat Dealers.” Retrieved from P1FS.com
  4. Industry Best Practices – General insights from marine finance professionals on approval rates, retention and profitability trends.

Yamaha is an MRAA Strategic Partner

5 Fraud Prevention Tools for Your Dealership

By Julie Douglas, President, Dealer Pay

Your dealership is a prime target for fraud because you process high-ticket transactions and maintain sensitive customer data. Fortunately, advancements in technology have provided a wealth of tools to combat fraudulent activities.
Here are 5 fraud prevention tools that can help protect your dealership and your customers.

  1. Electronic Signatures and Proof of Delivery – Digital transactions are becoming the norm and electronic signatures have become a critical tool for preventing fraud. Not only do they streamline the sales process, but also they provide legally binding proof of consent. For dealerships offering delivery services, proof of delivery features ensure you have verifiable records showing customers received their vehicles or parts, reducing the risk of disputes.
    • Benefits of electronic signatures include:
      • Authentication: Verifies the identity of the signer.
      • Proof of Agreement: Serves as a record in case of disputes.
      • Streamlined Operations: Reduces paperwork and speeds up transaction finalization.
  2. Transaction Monitoring Systems – Advanced fraud prevention systems can automatically monitor and flag suspicious transactions. These systems analyze patterns in real-time and identify anomalies that might indicate fraud.
    • Key features to look for:
      • Behavioral Analytics: Tracks purchasing behavior to spot irregularities.
      • Transaction Alerts: Notifies staff of high-risk transactions before they are processed.
      • Prevention Over Reaction: Stops fraudulent activity before it escalates into chargebacks or disputes.
  3. Multi-Factor Authentication (MFA) – MFA adds an additional layer of security to sensitive operations, requiring users to verify their identity through multiple methods (e.g., password and SMS code).
    • Why MFA is critical for dealerships:
      • Protects sensitive customer and financial data.
      • Prevents unauthorized access to payment systems or CRM platforms.
      • Enhances trust with customers who value secure interactions.
  4. Fraud Detection Tools – Look for a solutions that uses artificial intelligence and machine learning to assess transaction risks. Dealer Pay offers its customers Kount, an Equifax Company, that specializes in fraud detection and prevention by analyzing user behavior, transaction details and historical data.
    • Benefits include:
      • Reduced chargebacks by flagging fraudulent activities.
      • Comprehensive insights into transaction health.
      • Seamless integration with existing systems.
    • You need a solution that supplies real-time decision-making capabilities, especially if your dealership handles online payments or high-value transactions.
  5. Secure Payment Request Features with Signatures – When requesting payments from customers — especially remotely — it’s crucial to use systems that include secure signature options.
    • These tools ensure:
      • Customers authorize payments with a verifiable signature.
      • An added layer of accountability in case of disputes.
      • Compliance with legal requirements for large transactions.
Enhance Your Cyber Defense

Your dealership faces unique challenges in preventing fraud, that’s why you need purpose-built tools and systems that reinforce your defenses. From electronic signatures to proof of delivery to fraud detection solutions you want to arm your team so it can create a seamless and secure experience for your dealership and your customers. Taking these steps creates more confidence in your team and builds your customers’ trust. Still have concerns, Dealer Pay can help you create a winning fraud-prevention plan.

5 Fraud Prevention Tools for Your Dealership with Julie Douglas, Dealer Pay President

About the Author
Julie Douglas, President of Dealer Pay, otherwise known as the Sales Lady Extraordinaire, has been providing payment solutions to dealers for over 20 years. She has made it her mission to offer the most innovative payments and technology solutions in the industry, all with the focus of making dealerships operate more efficiently and effectively so they can spend time focusing on improving overall customer relationships and improving their bottom line.

Dealer Pay is an MRAA Platinum Partner.