The Global Economy and Business

Real Estate market falls but…Yacht Building is booming. Yes! It’s really so! At least some parts of the economy don’t suffer from the trends…

Just some quotes to prove this:

… the super-rich are still lining up to pay tens of millions of dollars for mega yachts. The well-heeled buyers of the floating mansions are increasingly coming from emerging economies — in the Middle East, Russia and South America. The source of their wealth runs the gamut — technology, venture capitalism, new industries….

“Nobody is buying these yachts because they need them,” said William S. Smith III, Trinity’s vice president. “They’re buying them because they want them.”

There are about 3,800 yachts over 80 feet in service around the world now. About 1,800 of those have been built since 2000. The study predicts that that by 2010, there will be 5,000 such yachts on the water.

“There’s not enough supply,” said Ed Slack, editor of International Boat Industry. “It takes two years to build some of these yachts and the demand hasn’t slowed down.”

So far, Trinity’s largest vessel has been a 192-foot yacht that would carry a replacement price of $60 million to $65 million. The company is working a 242-footer that will have a price tag in excess of $90 million.

And to prove this new projects in this sphere of business are opening. As I see the Mr.Boating site (http://www.mrboating.com/) that faced very slow growth now is being renewed. They see the market possibilities and don’t want to miss them. So, let’s see…

The boat or marine retail industry, largely comprised of independent family owned operations, has historically possessed little consistency and no visible commitment to standardized policies or practices, including service.

With franchising you have the ability for consistency. Also support from the franchisor. Advertising you can pool your interest to mass advertise & share the expense

A boat franchise can be a profitable and rewarding business opportunity.  Compare multiple boat franchise opportunities with AllOptions.  There is no cost or obligation, see if a boat franchise is right for you.

There are a wide range of boat franchises to choose from and much research is needed before outlaying any capital. In addition to the standard boat sales and repair franchises there is a rising number of boat ownership franchise clubs that appeal to consumers who wish to have a luxury boat without the high costs associated with whole-boat ownership and could lead to a very profitable enterprise.

In particular, ensuring that you have the necessary and vital business skills is the first step to developing a successful franchise. Many qualities are needed but in the service industry it is crucial to ensure you have strong leadership and supervisor skills to ensure customers always enjoy a pleasant experience as well as an organized approach to day-to-day operations.

It is also key to have a strong interest in boating and experience of dealing with crafts as well as possible contacts within the industry to help find new clients and develop marketing strategies.