By Jared Zimlin, Director of Business Development, Elite Recreational Finance, an MRAA Education Champion
You’ve likely faced some tough challenges in F&I that directly dampen your sales potential. These hurdles, from limited lender options and higher interest rates to tightening guidelines and aged inventory being devalued, are difficult to navigate alone. Let’s take a closer look at these pain points and explore some steps to take to help your dealership.
Bolster Your Chance for Success What can you do to overcome these challenges in F&I to thrive in the current economy? The answer is surprisingly simple: It all comes down to the lenders in your F&I toolbox. Do you have the right mix? Are you utilizing their programs to the fullest? Are there other lenders you can add to bolster your chances for success?
Address Your Current Lender Mix • Review Rate Sheets: Examine all your lenders’ rate sheets to understand their rates, terms, advance guidelines and age limits. Some lenders consider 2023 models as new, have debt-to-income limits of 50% instead of 40%, offer rates starting in the 6% range and address other challenges. • Communicate with Lenders: Call your lender representatives and some underwriters. Discuss recent deals that were declined or received unfavorable terms. They may have solutions not listed on the rate sheet. • Expand Your Lender Network: Sign up with more lenders to fill gaps in your current mix. The National Marine Lenders Association is a great resource for finding marine lenders and service providers. (Use NMLA Lender Search) • Leverage F&I Providers: If you work with an F&I provider, they are likely NMLA members and have access to these lenders. Call them, review your portfolio and ensure you have the right mix for the collateral you sell (new, pre-owned, consignment, small ticket, large ticket, prime and sub-prime).
Structure Your Deals for Success • Understand Loan to Value (LTV): The best rates typically depend on a combination of credit score, amount to finance and LTV. Calculate LTV by dividing the amount the customer is financing by your invoice cost with discounts added back in. For pre-owned boats, refer to J.D. Power and follow the lenders guidelines to see if they accept wholesale, retail and how that value options. Compare this to the lenders’ rate sheets. Learn how to make LTV work for you. • Prepare Customers for Down Payments: Inform customers about the impact of down payments on rates. Get deals approved with both the down payment they want and the down payment needed for the best rate. Present both options and let them choose. • Consult Your F&I Manager or Service Provider: Your F&I Manager or service provider should know all this. Discuss LTV when submitting a deal and get guidance on the right down payment for the best rates.
Build Your Lender Portfolio Regardless of whether you handle F&I in-house with a full-time finance manager, work with an F&I service provider, or use an all-hands-on-deck approach, no sale can be made, nor any backend profit earned, on a deal that gets declined or a customer who walks due to unfavorable terms. Reviewing, improving and leveraging your lender portfolio will help you get more approvals, earn more sales, generate more revenue and create more happy customers today and for your future boat sales.
About the Author Jared Zimlin is the Director of Business Development, Elite Recreational Finance, Education Champions with MRAA. He draws upon his two decades of business development experience solving problems for manufacturers, distributors and dealers across multiple industries with comprehensive retail finance, equipment finance and inventory finance solutions. A University of Florida alum, Zimlin is an avid cyclist and Club President of Gearlink Racing Inc.
• MRAA Government Relations Team Meets with White House and Congressional Leadership
WASHINGTON, March 24, 2025 – The Marine Retailers Association of the Americas (MRAA) Government Relations Team recently participated in the Small Business Legislative Council (SBLC) fly-in in Washington to discuss small business issues impacting recreational boat dealers and potential regulatory hurdles in the future.
Mike Sayre, MRAA Government Relations Director, and Chad Tokowicz, MRAA Government Relations Manager, discussed pressing issues impacting the organization and its members. Discussions centered on maintaining tax incentives that encourage investment and growth and securing long-term tax certainty for pass-through businesses. With key tax provisions set to expire at the end of 2025, the SBLC emphasized the importance of policies that provide stability and parity for small businesses, ensuring they remain competitive in an evolving economic landscape.
One of the key stops and meetings was at the White House Office of Public Liaison.
“The Small Business Legislative Council has been an incredible resource for MRAA and our members,” said Sayre. “The expertise and support from SBLC on complex tax and related policy issues means MRAA members are having their concerns heard at the highest levels of government.”
The MRAA joined the SBLC in 2024 to increase its focus on issues impacting small businesses like taxes and regulatory requirements. The fly-in also builds stronger relations at the White House and on Capitol Hill in advance of large-scale tax legislation currently under discussion.
“Spending time on Capitol Hill with the SBLC ensures that lawmakers and their staff are getting input from a wide variety of industries on topics which ultimately impact our members as small businesses,” said Tokowicz. “With Section 199A small business deduction and lower pass-through rates set to sunset at the end of 2025, it is a critical time to ensure MRAA is at the table as these issues are discussed.”
The following SBLC representatives were in attendance:
Jason Blake and Chris Fasse: Petroleum Equipment Institute
Jeff Bristol, Jeff Casey and Jim Johnson: National Electrical Manufacturers Representatives Association
Bud DeFlaviis: National Association of Electrical Distributors
Reed Esarove, Jason Ortega and Gabrielle Ybarra: National Wooden Pallet and Container Association
Kelsie Lang and Matt Poe: Southeastern Lumber Manufacturers Association
Roy Littlefield IV, Tire Industry Association
Mike Oscar, American Subcontractors Association
James Payne, National Electrical Contractors Association
Tee Rowe, America’s SBDC
Eric Snyder, Specialty Equipment Market Association
Charlie Souhrada, North American Association of Food Equipment Manufacturers
Rob Underwood, Energy Marketers of America
Mike Sayre and Chad Tokowicz: MRAA
The March 2025 fly-in of the SBLC to Washington furthered these priorities by connecting with congressional offices and committee staff who have jurisdiction over the priority areas. Here is a brief meetings recap:
White House Office of Public Liaison Members met with Karalee Geis, Senior Associate Director for the White House Office of Public Liaison. The meeting served as an introduction for the SBLC to the new administration, emphasizing the importance of maintaining an ongoing relationship with the White House. Members expressed appreciation for the administration’s decision to pause implementation of the Corporate Transparency Act (CTA) and briefly discussed key policy interests, including Section 199A and regulatory relief.
Another meeting stop was at the U.S. Capitol to meet with John Crews, Policy Director for House Majority Leader Steve Scalise (R-LA).
Meeting at Capitol with Majority Leader’s Office Members met with John Crews, Policy Director for House Majority Leader Steve Scalise (R-LA), to discuss Section 199A parity if the corporate tax rate is lowered. Mr. Crews, who previously worked at the White House in the first Trump Administration, provided insights into Scalise’s tax policy priorities. Members emphasized the importance of maintaining small business tax provisions as part of any future tax package.
Senate Side Meeting with Senate Finance Majority Staff Members met with Michael Gould, Tax Counsel and Clancy Lyles, Committee Staff for the Senate Finance Committee, chaired by Senator Mike Crapo (R-ID). The discussion focused on advancing Section 199A permanence and parity with corporate tax rates. Members recalled previous discussions with Mr. Gould during the 2023 SBLC Fly-In and reiterated the importance of ensuring tax certainty for small business owners.
Senate Side Meeting with Caroline Oakum (Sen. Daines) Members met with Caroline Oakum, Tax Counsel for Senator Steve Daines (R-MT), a member of the SFC and the lead author of S. 213, the Main Street Tax Certainty Act, which seeks to make Section 199A permanent. The discussion emphasized the importance of maintaining 199A benefits for small businesses, particularly in the event of corporate tax rate reductions. Members referenced recent legislative efforts and highlighted the necessity of ensuring corporate tax parity for small business owners.
Senate Side Meeting with Jess Helmers (Sen. Young) Members met with Jessica Helmers-Barker, Tax Counsel for Senator Todd Young (R-IN), a member of the SFC. The discussion focused on supporting the permanence of Section 199A and ensuring parity with corporate tax rates. Members emphasized the importance of tax certainty for small businesses and explored potential legislative paths to solidify Section 199A benefits.
Senate Side Meeting with Alex Porter (Sen. Warner) Members met with Alex Porter, Senior Tax Counsel for Senator Mark Warner (D-VA), a senior member of the SFC. The discussion centered on extension of bonus depreciation and R&D tax credits. Members referenced a recent POLITICO article discussing Senate Democratic moderates’ openness to bipartisan tax cuts and noted that Senator Warner, along with Senator Cortez Masto, was involved in drafting a related letter. This meeting served as an initial step in building a working relationship with Senator Warner’s office on key small business tax issues.
Senate Side Meeting with Kurt Lynch (Sen. Cortez Masto) Members met with Kurt Lynch, Senior Policy Advisor for Senator Catherine Cortez Masto (D-NV), a member of the SFC. The conversation focused on small business tax preferences. Members referenced a POLITICO article highlighting the role of Senators Warner and Cortez Masto in advocating for bipartisan tax discussions. The meeting also aimed to establish a stronger working relationship with Senator Cortez Masto’s office on tax policy affecting small businesses.
House Side Meeting with Brucie Mish (Rep. Smith) Members met with Brucie Mish, Legislative Assistant for Representative Jason Smith (R-MO), Chairman of the House Ways & Means Committee. The discussion focused on securing permanent extension of Section 199A and broader tax policy negotiations related to the renewal of TCJA provisions. As the lead negotiator for the House on tax legislation, Rep. Smith plays a critical role in shaping tax policy outcomes. Members appreciated the opportunity to advocate for small business tax relief.
House Side Meeting with Ian McPhearson (Rep. Van Duyne) Members met with Ian McPhearson, Legislative Assistant for Representative Beth Van Duyne (R-TX), a member of the HWMC. The conversation centered on ensuring Section 199A parity with corporate tax rates and the broader implications of tax policy for small businesses. Members emphasized the need for legislative solutions that provide long-term tax relief.
House Side Meeting with Emily Graeter (Rep. Carey) Members met with Emily Graeter, Legislative Director for Representative Mike Carey (R-OH), a member of the HWMC. The discussion focused on securing Section 199A parity in the event of corporate tax rate reductions and ensuring continued support for small business tax relief. Members shared their perspectives on the impact of 199A and emphasized the need for long-term tax certainty.
House Side Meeting with Mike Dankler (Rep. Yakym) Members met with Mike Dankler, Deputy Chief of Staff for Representative Rudy Yakym (R-IN), a member of the HWMC. The discussion focused on trade policy, particularly the current tariff landscape and its implications for small businesses. Mr. Dankler, recognized as one of the most knowledgeable congressional staffers on trade issues, provided insights into how trade policy fits into broader discussions on the Tax Cuts and Jobs Act (TCJA). Members appreciated the opportunity to gain perspective on legislative developments impacting international trade.
House Side Meeting with Kate LaBorde (Rep. Biggs) Members met with Kate LaBorde, Chief of Staff for Representative Andy Biggs (R-AZ), a prominent member of the House Freedom Caucus and the author of H.R. 110, the Small Business Prosperity Act of 2025. This legislation seeks to make Section 199A permanent, increase the deduction from 20% to 43% and repeal the estate tax. Members discussed the significance of 199A for small business owners and the broader implications of Rep. Biggs’ legislation. Given Rep. Biggs’ commitment to small business tax relief, members valued the opportunity to engage with his office.
(L-R) The MRAA Government Relations Team of Chad Tokowicz and Mike Sayre participated — on behalf of the recreational boating industry — in the 2025 Small Business Legislative Council Fly-in this month.
Building Stronger Relations on Capitol Hill Since engaging Barnes & Thornburg LLP as government relations counsel in September 2023, the SBLC has prioritized strengthening its relationships on Capitol Hill in preparation for major tax legislation expected in 2025. This is SBLC’s third fly-in to Washington in the past 18 months, with a focus on advancing its core advocacy initiatives, particularly ensuring tax parity for small businesses through the preservation and enhancement of Section 199A.
SBLC’s Legislative Goals
Make Section 199A Permanent – Small businesses need long-term tax certainty. Section 199A was originally enacted to maintain parity between pass-through businesses and C corporations after the corporate tax rate was lowered in 2017. However, while the corporate rate cut was made permanent, 199A is set to expire in 2025. Making 199A permanent is essential to ensuring pass-through businesses are not unfairly disadvantaged and can continue to invest in growth, employees and innovation.
Adjust 199A if the Corporate Tax Rate is Lowered – If Congress lowers the corporate tax rate further — potentially from 21% to 15% — then the 199A deduction must be increased (e.g., from 20% to 25%-30%) to maintain parity. Without such an adjustment, pass-through businesses could face a significantly higher effective tax rate than corporations, creating distortions that push businesses toward restructuring instead of reinvesting in operations, hiring and expansion.
Reduce Individual Tax Rates for Pass-Through Business Owners – Since pass-through businesses are taxed at individual rates, lowering individual income tax rates would provide direct relief to millions of small business owners. This adjustment would help maintain competitiveness, allowing small businesses to operate on equal footing with corporations.
Permanently End the Corporate Transparency Act (CTA) for U.S. based small businesses – The CTA imposes significant compliance burdens on small businesses, requiring detailed reporting of beneficial ownership information. While well-intentioned, the law disproportionately impacts small businesses that lack the resources to navigate complex regulatory requirements. SBLC supports either repealing the CTA or significantly modifying it to reduce its administrative burden on small business owners.
Looking Ahead The SBLC will continue working with lawmakers to advance these priorities and ensure that tax policy supports small business growth rather than creating unintended disadvantages. By securing permanence for 199A, maintaining tax parity, reducing regulatory burdens and advocating for fairer individual tax rates, SBLC is committed to protecting the interests of America’s small business community. Time spent on Capitol Hill also allowed MRAA staff to discuss the impact of tariffs on marine retailers, laying the groundwork for future conversations with key lawmakers in pursuit of relief of upcoming tariffs.
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.
About the Small Business Legislative Council The Small Business Legislative Council (SBLC) is an independent, permanent coalition of trade and professional associations that share a common concern for the future of small business and privately owned business. The purpose of SBLC is twofold: First, to consolidate the strength and maximize the influence of business on Federal legislative and regulatory policy issues of importance to the entire small business community; second, to disseminate information on the impact of public policy on small business.
BROOKLYN PARK, March 24 – The Marine Retailers Association of the Americas (MRAA) announces Spectrum Color commits to Platinum Partner Membership and will be exhibiting at Dealer Week 2025 in Tampa, Fla.
As a Platinum Partner Member of the MRAA, Spectrum Color plays an essential role in supporting the growth and success of the marine dealer community. This partnership allows Spectrum Color to contribute to the advancement of the industry by helping to fund world-class education, training programs, and resources designed to empower marine dealers. In return, Spectrum Color benefits from increased marketing exposure, exclusive Dealer Week opportunities, and the ability to share its expertise through educational content. By investing in the development of marine dealerships, Spectrum Color reinforces its commitment to innovation, quality, and the long-term success of the marine industry.
“We’re so excited about the achievements that Spectrum Color has reached and the relationships built over the past 60 years,” says James Mitchell, Managing Director, Spectrum Color. “We continue to grow with the help and feedback of our customers, striving to be innovative, introduce new technologies and bridge the service gap in the industry.”
Spectrum Color, headquartered in St. Augustine, Fla., has been committed to innovation, offering boat manufacturers and repair professionals an extensive selection of premium gel coats designed for durability and precision. With a strong focus on customer satisfaction, Spectrum Color continues to provide expert color-matching services, advanced product formulations and dedicated support to marine dealers and professionals nationwide. One key example of its service includes the Spectrum Color Gel School, launched four years ago. This program has trained more than 1,000 technicians, equipping them with the skills to enhance their careers and create new revenue streams for dealers.
“The testimonies we’ve received highlight not only professional growth but also the positive financial impact on our partners,” adds Mitchell. “As Spectrum Color looks to the future, the company remains committed to supporting the marine industry with high-quality products, expert training and exceptional customer service. This is an exciting time to be involved in the marine industry, and we’re proud to continue driving innovation and excellence.”
“Spectrum Color recognizes the critical role of innovation and precision in the marine industry,” says Allison Gruhn, MRAA Vice President of Business Development. “Through its dedicated services, industry expertise and strong relationships with boat manufacturers, Spectrum Color can help us continue to support dealers and improve the boat ownership experience while advancing standards in recreational boating.”
About Spectrum Color Spectrum Color, established in the early 1990s as an offshoot of Fiberlay, quickly became the world leader in aftermarket gel coats. With a strategic focus on direct marketing to boat manufacturers, Spectrum Color gained exclusive access to dealer meetings, comprehensive color information and invaluable dealer networks. Dedicated to innovation and customer satisfaction, Spectrum Color continues to set industry benchmarks for excellence in gel coat application. Call 800-754-1830 or visit https://spectrumcolor.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.
Data can be a great resource to have in your business toolbelt. However, having data and ACTING on it are two different things. If you fail to do so, you’re just collecting numbers and that won’t help you get to where you want to be.
You’ll find data everywhere in your dealership. Even your employee feedback should be considered valuable data because it can lead to better satisfaction.
“Attitude and energy! We made an aggressive stance on having positivity here,” said a dealer during a recent conversation. He added that he and his crew protect their time, efficiency and attitude and it has helped tremendously. Not only is this self awareness important for your business to function effectively, it also improve your employee’s experience and keep them more satisfied and engaged.
The Lighthouse Harbor Marina team attended Dealer Week 2024 in Orlando, and gathered on stage to accept the dealership’s Great Dealerships to Work For award. Smiles galore!
9 strategies for improving employee satisfaction at your dealership.
Open Communication – Employees who feel heard are more engaged and committed.
Recognition & Appreciation – You have to have awareness in this industry. It’s not all about numbers. A simple “thank you” or company-wide recognition for an employee or team of employees means a lot. It also reinforces that management understands and values its employees and their effort.
Professional Development – Training and investing in your employee’s professional growth is a necessity not a dream! You invest in them, so they invest in your business. Here’s one example of how to reward them for their training from Bernie DeGraw, MRAA Senior Education Developer. For every four hours of training, give them 30 minutes of comp time by issuing a “get out of jail free card” (Yes, like Monopoly!). This shows both respect for them investing in training and for their personal time by rewarding them with an early escape one day. You can actually print off a card and hand them out with a message that reads, “Congrats, you’ve earned 30 minutes of PTO through your training.”
Competitive Compensation & Benefits – Understand the numbers for the market and positions you have at your dealership. It’s wise to pay fairly and provide solid benefits. So often, loyalty follows.
Work-Life Balance – Burnout can capture even the best employee. That’s why it’s critical to respect time off and offer flexibility whenever possible. Take care of one another with an “We got your back,” approach.
Positive Work Environment – Like the quote above, your positivity — even in the face of uncertainty and things outside of your control — works wonders. If culture is everything, don’t let a sour attitude ruin it. Promote teamwork, communication and inclusion to build trust and accountability.
Leadership Development – Employee training should include management, too! Stronger leadership builds stronger teams, so train your managers (that’s B-level and above).
Employee Involvement – Let them feel invested in the business by giving then a voice in decision-making. This includes asking for their input and thoughts annually.
Use these strategies as a pathway to building a dealership where people love to work. By the way, you don’t have to do this one alone or feel like you’re on your own little island. If you’re seeking greatness, you must capture your employees’ feedback annually and address their concerns and ideas. With more than 26,000 responses collected, MRAA’s Employee Satisfaction Survey, a valuable part of the MRAA Dealership Certification Program, has created a blueprint for taking action.
To explore MRAA Dealership Certification, contact Stevie Cook today at 763-402-7236.
Campaign issues challenge to states to create the 25th office of outdoor recreation
WASHINGTON — Along with leading outdoor recreation organizations from across the United States led by the Outdoor Recreation Roundtable (ORR), the Marine Retailers Association of the Americas celebrates the launch of the ‘25 in 2025’ campaign, a challenge to states to create the 25th office of outdoor recreation in the calendar year, following 24 other states that have created such offices in government since 2013. In the coming months, the campaign will highlight the accomplishments and importance of existing offices of outdoor recreation with new resources and research and culminate in an in-person convening this fall to celebrate the 25th state.
The “25 in 2025” campaign will highlight the accomplishments and importance of existing offices of outdoor recreation with new resources and research. (Image courtesy of the Outdoor Recreation Roundtable)
“Offices of Outdoor Recreation are crucial for supporting the continued growth of the recreational marine industry and provide access, knowledge, and opportunities to the boating public and businesses,” said Matt Gruhn, President of the Marine Retailers Association of the Americas. “The MRAA is proud to support the ‘25 in 2025’ campaign and looks forward to working with the ORR to create the 25thoffice of outdoor recreation in 2025 to further strengthen the marine industry and outdoor recreation economy at large thoughout America.”
“Since its establishment in 2022, Massachusetts Office of Outdoor Recreation has been instrumental in continuing the development and growth of our state’s outdoor recreation economy,” said Randall Lyons, Executive Director of the Massachusetts Marine Trades Association. “Paul Jahnige, Director of the Massachusetts Office of Outdoor Recreation, has been dedicated to working with recreational marine businesses throughout the state and helping to showcase the variety of outdoor recreational opportunities throughout the commonwealth, from boating and fishing to exploring our inland ponds, lakes and rivers. The MA Office of Outdoor Recreation has been a valuable partner and supporter of the recreational boating industry in Massachusetts. I look forward to working more with Paul in the future.”
“As small business owner and member of the Massachusetts Outdoor Recreation Economy, the establishment of an Office of Outdoor Recreation reinforced with me that our state understands the importance of small businesses who ultimately make outdoor recreation possible in Massachusetts. This action also proves that the state of Massachusetts is committed to supporting my business and the rest of the state’s recreational boating industry,” said Craig LeBlanc, Owner and General Manager, at Allen Harbor Marine Service in Harwich Port. “As a member of the MRAA Board of Directors I am excited to see we support the ‘25 in 25’ campaign, as I have seen the positive benefits of these offices first-hand and believe that their establishment in other states will only benefit MRAA members and the boating public at large.”
Jessica Wahl Turner, President of the Outdoor Recreation Roundtable, applauded the campaign’s launch, stating,“Few stories represent the bipartisan importance of outdoor recreation better than the 24 states from coast to coast who have created offices of outdoor recreation in just over a decade. These offices are leaders on new initiatives and investments in outdoor recreation for states across the country, creating new economic development, conservation, and public health potential. We are thrilled to highlight the powerful accomplishments of current offices of outdoor recreation over the year and look forward to celebrating the 25th state together.”
State Office History
In 2013, Utah Governor Gary Herbert created the first state office of outdoor recreation, recognizing the critical role of outdoor recreation to Utah’s identity, economic competitiveness, and community health. Since that time, states representing nearly half the country have created these offices through executive action or legislation, placing offices in various agencies to catalyze new growth in their states’ outdoor recreation economies and promoting access for all. The Confluence of States, the coalition of these offices of outdoor recreation, has gained significant national prominence during this time for its efforts to unite offices around a shared vision. A map with all states that have created offices of outdoor recreation can be found here.
The campaign launch also includes the launch of a new resource called “5 Steps to Create an Office of Outdoor Recreation in Your State.” This new tool aggregates best practices shared from the experiences of other states who successfully created offices of outdoor recreation. This new tool will be displayed alongside several other resources to support states in creating and managing offices of outdoor recreation, including A Guidebook to Developing Offices of Outdoor Recreation, Strategies to Support Offices of Outdoor Recreation, Pathways and Structures for Offices of Outdoor Recreation, The Value of Offices of Outdoor Recreation and more. In the coming months, ORR will release additional resources related to the importance of offices of outdoor recreation to help stimulate new investments in existing offices of outdoor recreation. The ’25 in 2025’ follows a historic year for the outdoor recreation economy that included passage of the EXPLORE Act, the most comprehensive update to outdoor recreation policy in recent history, as well as a new data release from the U.S. Bureau of Economic Analysis showing that outdoor recreation generated $1.2 trillion (2.3% of GDP) and 5 million jobs in 2023, growing 36% in real terms since 2012.
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.
Succession planning is a critical process for ensuring the longevity and success of any business, including boat dealerships. Recognizing this need, the MRAA has developed a comprehensive Succession Planning Toolkit to assist dealers in navigating this essential aspect of business continuity.
Understanding Succession Planning for Boat Dealers
Succession planning for boat dealers involves creating a strategic plan to ensure your business continues to thrive for future generations. A well-executed succession plan establishes processes, systems, and leadership approaches that provide stability and growth. This not only instills confidence among owners and employees but also secures the long-term prosperity of the dealership as it transitions between owners or generations.
Introducing the Succession Planning Toolkit
In collaboration with industry experts, MRAA offers the Succession Planning Toolkit made specifically for boat dealerships, which includes:
Guide to Dealership Valuation: Understand the factors that contribute to your dealership’s value, preparing you for a successful transition.
MEMBERS ONLY:11 Steps to Success and Succession: Exclusive to members, this guide delves into the critical steps for effective succession planning.
Getting Started
To embark on your succession planning journey, utilize the resources provided in the above Succession Planning Toolkit. These tools are designed to offer confidence in decision-making, enhance dealership success, and facilitate future planning, whether succession is imminent or in the distant future.
The “MEMBERS ONLY” resources are exclusive to MRAA members. To access these valuable tools, consider joining the MRAA.
When your schedule fills up with boat deliveries and potential buyers, it’s tempting to find shortcuts in the sales process.
Skipping a boat demo might seem like a time-saver. But it can lead to frustrated customers, safety risks, or even accidents due to improper operation.
A simple demo helps ensure buyers feel confident and prepared before hitting the water.
Customers coming in to buy a boat come from a wide range of boating experience, which is why boat demos (and product demonstrations in general) are important for safe and enjoyable boating.
Some have been passengers for years and are finally purchasing their own boat. Others are upgrading from an older model, like a ‘90s pontoon, to a modern wake boat. And some are first-time buyers who have never operated a boat.
Regardless of their experience, the boat they’re buying is likely new to them. With advancements in boat technology, even experienced boaters may need guidance. A boat demo bridges that knowledge gap, making for a safer and more enjoyable experience.
Key Considerations for Effective Boat Demos:
Assess the Customer’s Experience:
Before delivery, note the customer’s boating experience in your customer relationship management (CRM) system. But don’t assume – ask again. Some may overstate their skills due to pride. Encourage honesty so you can provide the right level of guidance.
Conduct an On-Land Boat Demo (If Needed)
If an in-water demo isn’t possible, an on-land demo is the next best thing. Walk the customer through:
Controls & safety features: Explain them as if you were on the water.
Trailer basics: If applicable, demonstrate how to hitch, load, and unload the boat.
Conduct an In-Water Boat Demo
An in-water demo is ideal. Spend at least an hour showing key features, then let the customer take the helm. As they drive, provide gentle feedback. Aim for a 2:1 ratio of praise to critique – positive reinforcement makes learning easier.
Teach Trailer Usage (If Applicable)
If the boat is being trailered, take them through the full process:
Backing the boat into the water
Launching & loading the boat onto the trailer
Securing it properly
Customers who practice this firsthand will feel much more confident when they go out on their own.
Cover Essential Boating Safety Tips
New boat owners might no be familiar with local regulations. Take time to explain:
For anglers → Demonstrate the live well and fish finder.
For wakeboarders → Show how to adjust ballast and wake settings.
For music lovers → Teach them about the boat’s speaker system and proper noise levels.
This makes the experience more engaging and builds excitement for their new boat.
Don’t Leave Them Stranded!
A boat demo can be information overload. Offer customers a way to reach you if they have follow-up questions. A direct phone number or dealership contact ensures they won’t feel stranded later.
Bonus Tip: Leverage Boat Shows for More Demos
Don’t forget! Boat shows are a great way to schedule boat demos with potential customers who are on the fence about buying. If you’re a dealer, you might have experienced an on-water or an on-land boat demo from a manufacturer at an industry event such as Dealer Week!
Final Thoughts
Boat demos may take extra time, but they create safer, more satisfied customers who feel confident on the water. No one wants to be the person struggling to operate their boat in front of family and friends. By taking the time to educate buyers, you help them become the hero of their boating adventures – earning their trust and long-term loyalty.
Want more insights on running a successful dealership or retail store? Subscribe to our weekly newsletter, Toolbox, and get exclusive tips on operating your dealership as well as relevant marine industry news – delivered straight to your inbox. Click here to subscribe to Toolbox.
• Recreational angling, boating and conservation community disappointed that state legislative efforts to fund menhaden science in the Chesapeake Bay failed in session
(RICHMOND, Va.)— During the 2025 legislative session, Virginia lawmakers again failed to approve multiple efforts from both sides of the aisle to provide funding for the Virginia Institute of Marine Science to complete a three-year study of the ecology, fishery impacts, and economic importance of the menhaden population in the waters of the Commonwealth. Three separate efforts to fund the research through the state budget, for which the conference report was released by legislators this week, were squashed in this year’s session. The efforts were opposed by Omega Protein, the only reduction fishing company operating in Virginia.
Delegate Paul Milde (R-64) first introduced House Bill 2713, which would have directed the Virginia Marine Resources Commission, in collaboration with VIMS, to conduct the menhaden study. In addition, an amendment to the state’s biennial budget,falling under HB 1600 as Item 148 #4h, sought to earmark funding separately for the same study. Both efforts were stopped in the House without a hearing. A third effort, spearheaded by Delegate Betsy Carr (D-78), which would have provided the first year of funding for the study directly to VIMS as a “research collaboration,” was removed during final budget negotiations with the Senate.
Atlantic menhaden, the target of Virginia’s largest commercial fishery, are a small, schooling fish harvested to be turned into fishmeal and fish oil products through a process known as “reduction” fishing. Due to their high oil content, menhaden – also called bunker – serve as the base of the marine food chain in Virginia, feeding iconic predators like striped bass, bluefish, and ospreys, especially inside the Chesapeake Bay. Currently, there is little data available related to how many menhaden are within the Bay throughout the year, or how reduction fishing affects the Bay’s fragile ecosystem.
“Although Atlantic menhaden are managed on a coastwide basis, there remains a lack of specific data related to how many menhaden are present within the Chesapeake Bay itself and the effects of removing them through large-scale industrial harvest,” said Chris Macaluso, director of the Center for Marine Fisheries for the Theodore Roosevelt Conservation Partnership. “We greatly appreciate the efforts of Delegates Milde and Carr for trying to help fish and wildlife managers at the state and regional level. Unfortunately, other Virginia lawmakers weren’t willing to support those efforts again this year, but recreational fishing advocates and a wide range of fisheries conservationists remain strongly committed to pushing for the science needed to properly manage the fisheries in Chesapeake Bay.”
Representatives from Omega Protein, Virginia’s lone menhaden reduction harvester and a subsidiary of Canadian-owned Cooke Seafood, initially supported and participated in the development of the unfunded VIMS studyin summer 2023. However, during the 2024 legislative session, they opposed a bill similar to the one introduced this session.
Omega representatives also stalled efforts by the Atlantic States Marine Fisheries Commission in 2021 to conduct research on the impacts of menhaden reduction fishing in Chesapeake Bay by not sharing their harvest data with fisheries managers.
“This is not just bad news for fishermen, but bad news for a Chesapeake Bay ecosystem that continues to scream warnings about menhaden,” said Chris Moore, Virginia executive director, Chesapeake Bay Foundation. “For years, we’ve lacked the baseline knowledge we need to establish robust and lasting sustainability for menhaden in the Chesapeake Bay. Unfortunately, only one foreign-owned entity continues to stand in the way of good science and that is Omega Protein, the largest harvester of menhaden on the Atlantic Coast.”
A coalition of 17 national and regional recreational angling, boating, and conservation groups signed a letter in support of this year’s legislative efforts. In addition, more than 24,000 Virginians and other conservationists concerned with Chesapeake fisheries have recently signed a petitionbyTRCP and CBF, asking Virginia decision-makers to support and protect the Chesapeake Bay and recreational fishing opportunities by funding the science necessary to manage this critical fish.
“We are disheartened that three separate attempts to advance critical fisheries science were unsuccessful,” said Chad Tokowicz, Government Relations Manager at the Marine Retailers Association of the Americas. “Menhaden are a keystone species in the Chesapeake Bay, supporting the entire marine food web, including economically important sportfish species such as striped bass, red drum, and cobia. By failing to fund this important research, Virginia lawmakers have missed an opportunity to support a healthier menhaden population, which would enhance the Bay’s ecosystem and create more recreational opportunities for anglers and boaters.”
“It’s very concerning that our lawmakers are listening to lobbyists and prioritizing the profits of the Canadian menhaden industry over the health of the Chesapeake Bay,” said Steve Atkinson, chairman, Virginia Saltwater Sportfishing Association.
“Restoring authority to manage the Bay’s menhaden fishery to qualified fisheries managers was finally achieved after years of effort by Virginia’s conservation community. In order to execute the recovery of this keystone species, a robust study of the fishery’s populations is both critical and necessary,” said Pat Calvert, director, Water & Land Conservation Programs, Virginia Conservation Network. “This opportunity is not promised in the future.”
“I am not surprised that the few who benefit from the current management plans don’t want a study like this to be completed,” said Brett Fitzgerald, executive director, Angler Action Foundation. “Once the public sees how local economies would benefit from improved menhaden management, it will be much more difficult for the status quo to continue.”
More information about the importance of Atlantic menhaden is available on TRCP’sForage Fish Recovery Page.
Discover Boating’s Dealer Finder toolcontinues driving potential boat buyers to dealer sites in the U.S. and Canada. The number of introductions to dealers from the U.S. Dealer Finder is up 26% year over year, and Canadian Dealer Finder introductions have increased 48% since this time last year.
MRAA Certified Dealers get top billing on the Discover Boating Dealer Finder tool. Consumers are shown these dealers because they can be confident a Certified Dealer will deliver service they can count on — before, during and after the sale.
As today’s consumer buying behaviors continue to shift, the Discover Boating Dealer Finder puts the consumer at the helm, allowing them to research, explore and connect with dealers in their area.
The tool was recently enhanced to include a fresh look and feel as well as a new geolocation functionality. With this updated feature, users can opt-in to allow location permission, which automatically presents dealers within a 25-mile radius.
Once these potential boat buyers are introduced to local dealers, the dealers are on deck to welcome and nurture them through their boating journey. This is an important step to help build and grow our industry for the future.
Dealers looking to update their listing or be added to the Dealer Finder tool can fill out this form, and MRAA will reach out to help make changes.
Discover Boating is powered by NMMA and MRAA and focused on expanding the boating market by attracting the next generation of boaters while retaining current boaters.
In the long saga that is the reporting requirements put forth under the Corporate Transparency Act (CTA) we have yet another update. On Feb. 27, The Financial Crimes Enforcement Network (FinCEN) announcedthat it would not issue fines or penalties for any business that does not file Beneficial Ownership Information with the FinCEN until a forthcoming interim rule takes effect.
Previously, these reporting requirements had been subject to several court actions that paused the requirements, brought them back, paused them again and eventually brought them back with a deadline in late March. This announcement from FinCEN is welcomed by MRAA as the confusion around the original reporting requirements was made far worse with all the different actions taken by different courts throughout the country.
No later than March 21, 2025, FinCEN will issue an interim rule that will extend the reporting deadline, provide more clarity to those businesses that have to report and better target businesses of interest to national security. There will be a public comment period once the interim rule is issued and the MRAA, along with the Small Business Legislative Council, will review and provide comments on the interim rule that urge FinCEN to reduce or eliminate the burden on small businesses. Fortunately, this is something FinCEN itself has indicated as a goal for the interim rule.
U.S. Secretary of the Treasury Scott Bessent said in a press release, noting this change in policy, “this is a victory for common sense. Today’s action in part of President Trump’s bold agenda to unleash prosperity by reining in burdensome regulations, in particular for small businesses that are the backbone of the American economy.”
As always, MRAA’s advocacy team will keep you updated and informed of whatever reporting requirements result from this rulemaking process.
Submit your questions about the reporting requirements or to ask to how the MRAA is getting involved, please contact:
Chad Tokowicz, MRAA Government Relation Manager, Chad@mraa.com
Mike Sayre, MRAA Government Relations Director, Mike@mraa.com
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