Have you become aggravated lately with the sportfishing and marine industries? It might help us deal with frustration if we better understand what they are going through in these tough times.

Over the past few decades, sportfishing and boating businesses enjoyed unprecedented growth. The economy about-faced so fast that we ended up with whiplash. Gone are easy credit terms to buy boats, generous sponsorship contracts, and money left over for tackle and boat fuel after paying monthly bills. The sportfishing landscape is littered with the carcasses of failed companies. And though the boat market is awash with new and used bass boats, we either can’t get credit or refuse to go deeper in debt to purchase the boat of our dreams.

My assessment is this: in easier times, start-up companies required minimal capital to be successful. Sales came easy and credit plentiful. Fast-growing companies assumed “build it and they will come.”Some neglected sound business management principles. For instance, inventories were out of control. Boat companies stocked up marine dealers. Tackle stores stuffed their aisles and manufacturers their warehouses with merchandise. Many failed to implement inventory management systems and piled up debts that they were unable to pay when cash flows slowed to a drip.

Secret Weapon Recoil Rig More professional anglers fish out of their own boats. Some big name boat and tackle companies are closing. Ones that remain are recruiting Prostaffers that are not simply expert anglers but experienced, dedicated promoters who will help the company meet its profit and mission objectives. Businesses that survive this economy will pay a lot more attention to managing debt. Management decisions are being scrutinized by company accountants, and costs are being more tightly managed. Inventories are leaner, even if they result in delivery delays of boats, tackle, and gear.

The good news is that surviving businesses will be stronger, more responsive to our needs, more efficient, and more committed to best business practices than ever before. The products and services they provide to consumers will be more cost-effective, too.

Look at what this time as a transition period. Be patient with marine and sportfishing manufacturers and dealers as they scramble to survive. They can do so only by putting customers first. They will emerge better, stronger and more sustainable than before, and we consumers will be the beneficiaries.

Captain Mike Gerry
Fish Lake Guntersville Guide Service
Web: www.fishlakeguntersvilleguideservice.com
Email: bassguide@comcast.net
(256) 759-2270

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Tags: bass boats, Gerry, Mike Gerry, tackle companies, tackle stores

This entry was posted on Saturday, August 15th, 2009 at 4:08 PM and is filed under Fishing Articles, General Fishing News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.