Startup Marine Businesses

[tags11]

a friend of mine approached me the other day looking to invest in a startup company in the marine world. He's well established in life and is looking to invest in something "fun" and something that will hopefully help the fishing community at large. As you might guess, he's been fishing his whole life and so he has a passion for the marine industry. Send me a pm if you don't want to post. Anyone have any ideas??

[gcredle]

Well,
You know what they say--the quickest way to make a million in the marine industry is to start out with TWO million.....

Is he looking to market/mfg a product (line of products) or start a biz reselling/retailing products?

As a mfg--best advice--make sure you have factored in co-op advertising in your profit goals---and then when you come to that number--add some more in. Most new products are picked up by major retailers based on their co-op contribution---like fresh cut fish in a chumslick---rings their bell every time. Once you get support from the major companies, then either the product will take off and fly---or die.
As a retailer---good luck. Internet is killing the retail business.

[seapower]

Nothing that I know of in the marine industry is fun for long. Folk's all the time make the remark that, "you must really enjoy what you're doing". Well the truth is, it stopped being fun about 25 years ago. Not telling you what to do, but do not approach this biz looking for something fun. It's a business, treat it as such. You tend to hear about the guy's that did well, those that went bust don't have much to talk about. Frank

[tags11]

Well,
You know what they say--the quickest way to make a million in the marine industry is to start out with TWO million.....

Is he looking to market/mfg a product (line of products) or start a biz reselling/retailing products?

As a mfg--best advice--make sure you have factored in co-op advertising in your profit goals---and then when you come to that number--add some more in. Most new products are picked up by major retailers based on their co-op contribution---like fresh cut fish in a chumslick---rings their bell every time. Once you get support from the major companies, then either the product will take off and fly---or die.
As a retailer---good luck. Internet is killing the retail business.

I don't know whether he's looking to start his own line of products or throw money towards someone's venture that's struggling to get off the ground. I suppose I will ask him!

[tags11]

Nothing that I know of in the marine industry is fun for long. Folk's all the time make the remark that, "you must really enjoy what you're doing". Well the truth is, it stopped being fun about 25 years ago. Not telling you what to do, but do not approach this biz looking for something fun. It's a business, treat it as such. You tend to hear about the guy's that did well, those that went bust don't have much to talk about. Frank

aww come on Frank!!! lot's of things are fun in the marine business!! Everything I do is fun because I work to make it fun. Some of the best days I remember in the marine world for me personally have been the most back breaking of days doing engine work or cleaning or prepping for a trip, etc etc. My perspective may be different because I'm not looking for a paycheck from it, i guess it's like "live to fish, don't fish to live". Anyway, this guy doesn't want to make this venture his full time thing. I bet his desires are to financially invest in something like a rod and tackle business or a new engine company or boat company or anything that sparks his interest and more or less drive it financially and let the people who work in the industry every day pretty much run the show, he just wants to be a part of something...i think anyway. Perhaps I'll clarify with him when i c him next.

[worldcat lemon]

Lotta of boat businesses for sale. Some will be for sale soon? That could be fun?

[seapower]

I'm not tryin to let the wind out of his sail's, just being honest. Yes there is a huge difference between doing it on the weekend or getting ready for a trip and workin at it daily. Matter of fact, I do enjoy "playin around" on my boat. I suppose there are those out there that would say that they enjoy the marine biz everyday, I just don't know any of them. Make no mistake, anything to do with boat's is hard work, even when the economy is good. I am not complaining here, I made my choice a long time ago. But an older fella once told me many year's back, "when you're dealing with boat's, you have to learn to rock with them". I have found his word's very, very true. Just like the swell's in the ocean, there's alot of up's and down's.
By the way, I'm sitting here with a very sore back and shoulder's this evening. Spent the day humped over, breaking down and pulling the head's off a Cat in a commercial boat. Going to be putting it back together tommorrow, not really considering it very glamorous at the moment. Frank

[Big Fish Billy]

I know where there is a marina in Roatan he can take over.......

[rado]

a friend of mine approached me the other day looking to invest in a startup company in the marine world. He's well established in life and is looking to invest in something "fun" and something that will hopefully help the fishing community at large. As you might guess, he's been fishing his whole life and so he has a passion for the marine industry. Send me a pm if you don't want to post. Anyone have any ideas??

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