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So much that not even the global health crisis could cool it off. For the second consecutive year, retail sales for new boats should surpass 300,000 units for the close of 2021. As the final numbers come in for 2021, retail sales look to be 7% above the five-year sales average.
Even better, manufacturing productivity is revving back up to meet consumer demand for new boats. Boatbuilding production is nearing pre-pandemic levels as supply chain constraints begin to ease up. The 2022 boating market forecast is sunny and bright, with sales forecasted to surpass 2021 totals by as much as 3%.
But there’s a flip side no one dares talk about and it’s this…
According to the President of Customer Service Intelligence, Inc.:
“I think all (marine) dealers are trying their absolute best to service customers, but customers’ expectations are unwavering. They want the parts today, not in six weeks. Customers are not all forgiving, which means they are already looking at another dealer for their needs next year.”
Despite all those high-flying sales numbers, it’s still hard for buyers to find the exact kind of boat they want or get the services they need.
It’s been reported that 40 to 50 percent of boat customers never hear from their dealer after the sale — during normal conditions. Customer follow-up is showing up as a concern not because it’s a new problem in the marine industry, but because the pandemic buying spree exacerbated it.
It’s gotten so darn frustrating.
Boat buyers at all levels want to be listened to and receive the care and attention they deserve. They expect a world-class customer experience. No more, no less.
There’s a severe lack of innovation across the maritime marketplaces. The frustration often stems from a fragmented market with less than transparent pricing structures.
The bottom line is that the industry needs an upgrade and needs it yesterday. Boatim Inc (OTC: BTIM) is single-handedly moving the industry from the fax machine age to the smartphone age with their next-generation platform that seamlessly connects buyers and sellers of new and used boats, yachts — and beyond.
The company’s mantra is profound, “Life is better on the water.”
Once out on the water the world can transform into a more peaceful, tranquil place. Through its groundbreaking digital tools, Boatim helps to bring that peace and tranquility to buying, selling, servicing and fact-finding processes.
Finally buyers, sellers, the salesmen, the professionals, service companies, and more have one place where they can get everything they need – it really is EVERYTHING BOAT
Early in the company’s journey they were referred to as the “Carvana of Boats,” since then. BTIM has become so much more. Their global online platform connects buyers and sellers of new and used boats and yachts.
Digital products for boaters, dealers, and manufacturers
And through a combination of data, technology, and the power of social media, they deliver high-quality lead generation for dealers and exciting opportunities for their rapidly growing community of boating enthusiasts.
Their digital tools provide direct communication with vendors, tenants, and boaters, list available services, retail space, and boat slips.
Even better, users no longer have to pay extravagant search engine optimization (SEO) expenses (which may or may not work) to reach their target audience.
Since setting sail the company has:
Next comes a monster wave of new users
With more and more people buying boats, they need mooring (a place to park). So they recently added a powerful feature to their digital suite. The Marina Search Tool. The Marketplace includes about 6,600 boats for sale, 2,000 registered marinas, and over 17,000 businesses attached to those marinas.
As of this report the company is a pre-revenue. So then why BTIM and why now?
Simply put, the company has a great business plan, hit a wide-open market niche, and is mission driven. They are dedicated to the large and growing recreational boat market. Their goal is to leverage technology to get the resources, information, and services into a new generation of aspiring owners’ hands – and it’s working.
Boatim’s SaaS enjoys almost a 10% market share – revenues expected to hit June 2022
Yes, you read that right, 10% of the industry is using Boatim’s SaaS. The company announced this on December 1, 2021.
Think about this, Boatim generates thousands of sales leads to its users, decreasing the cost of selling a boat while increasing the speed of closing the sale. That could mean some serious revenue potential.
In fact, CEO Joseph Johnson made three exciting announcements on a recent Street TV at NASDAQ interview:
When considering a start-up, it’s important to realize that the company is likely to be able to eventually generate revenue, and then become profitable, and even possibly be acquired by a larger company which will be willing to pay handsomely for this now very profitable company’s technology.
Even more so, one needs to understand that they are potentially getting a portion of the company during its earliest, pre-revenue days. So the price the investor is paying reflects that and is very low.
And BTIM offers a rarely seen opportunity as the company has a loyal and growing customer base and is craftily positioning itself to reap millions in future royalty and licensing fees.
Building the digital maritime products of tomorrow
Boatim continues to push the boundaries of technology for boaters and the boating industry. Their future looks very bright as they take advantage of:
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With the industry going through severe consolidation, this has all the potential to be a phenomenally successful business model.
CB-D quality ranges drastically from supplier to supplier with no standards currently in place. Ultimately, a company never really knows what they are going to get.
In addition, companies just don’t have the time and resources to do everything, from sourcing, formulating, manufacturing, testing, registering, branding, marketing, etc. is a whole lot of work.
As the industry matures, which is still a way off, companies like cb-dGPO can be a lifesaver. Not only will they be able to lower costs but ensure the quality of the product.
In a skyrocketing $17 billion market, there is a whole lot of money on the table. This is the absolute genius of the 120-year-old GPO business model.
Source 1: https://www.galatiyachts.com/yachting-news/2022-retail-forecast-for-new-boat-sales/
Source 2: https://f.hubspotusercontent30.net/hubfs/8222281/IR/Boatim%20Corporate%20Presentation%20-%202021.pdf
Source 3: https://www.cnbc.com/2021/03/19/boat-sales-took-off-during-pandemic-dealers-cant-keep-up-with-demand.html
Source 4: https://www.wallstreetpr.com/are-cloud-saas-stocks-eating-the-world-veev-cvna-btim-shop-44336
Source 5: https://investor.boatim.com
Source 6: https://www.prnewswire.com/news-releases/boatim-inc—outlook-2021-301205383.html
Source 7: https://www.tradeonlytoday.com/columns-blogs/boat-buyers-are-frustrated
Source 8: https://finance.yahoo.com/news/boatims-newest-tool-connects-boaters-153000164.html
Source 9: https://headwayapp.co/boatim-updates
Source 10: https://www.accesswire.com/675490/Boatim-Announces-Fall-2021-SaaS-Product-Update
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