Wells Fargo
The Authority on Canada's Recreational Boating Industry

Message From The Editor

Boating Industry Canada's Newsweek

CREATING YOUR OWN SUCCESSOR

Young people will probably look at this time in history as a prolonged period of economic growth, and a great time to invest into the boat business.

Strong North American stock market performance looks likely to continue, Canada's GDP growth is exceeding government projections and we have recently heard talk of the government increasing Canada's immigration level from the 250,000 per year level that we've seen for many years, to a new level of 350,000 or even 400,000.

That kind of population growth will certainly drive the economy forward and the boat business will benefit the same way other industries will.

In my column last week, I talked about succession planning for our businesses. We noted that the demographics of the Canadian population include many baby boom aged people in our industry who will want to retire soon and there is a very real concern that at least some owners do not have a well-crafted and orderly plan could suffer. You need a succession plan to reward the present owner with fair market value while providing a solid business opportunity for the new owner.

The point was - identify a suitable successor (or two) now and invest in training and education for them so that they can "buy out" or "earn out" the business, perhaps giving you a lump sum and also ongoing payments to fund your retirement.

One opportunity is to send your potential successor to courses offered by IMI. I recently attended the Marina 101 seminar put on by IMI, the International Marine Institute at IBEX. In this edition of News Week, we have an announcement of their conference, the IMBC taking place in New Orleans in the new year and don't forget about the tech training from the Quadrant Marine Institute in B.C., and Georgian College in Ontario, now working in cooperation with ABYC.

There's lots going on and I firmly believe the innovative new boat designs and power options we will see at the shows this winter, will keep the industry jumping for years to come!

Andy Adams, Editor aadams@kerrwil.com Twitter YouTube

Feature

Carl Wolf Merritt Alves

MARINA 101 - DAILY MARINA ASSESSMENT

Do you perform a Daily Marina Assessment at your marina? I gained a greater appreciation for the importance of a Daily Marina Assessment when I attended the Marina 101 seminar put on by IMI, the International Marine Institute at IBEX in Tampa on September 18. Read More

Feature

Jens Bering Volvo Penta

A CONVERSATION WITH JENS BERING, VICE PRESIDENT, MARINE SALES, FOR VOLVO PENTA OF THE AMERICAS

Boating Industry Canada met with Jens Bering at IBEX 2017. Bering has recently been appointed to the executive team of Volvo Penta of the Americas as vice president, marine sales, and IBEX gave us an opportunity to hear more about what is happening at Volvo Penta. Read More
Bridgeport Marine

Changing Scene

NMMA Logo SAVE THE DATE — NMMA CANADA INDUSTRY BREAKFAST
Make sure to mark your calendars for the upcoming NMMA Canada Industry Breakfast to be held on Tuesday January 16, 2018 at the Toronto International Boat Show. Read More
NMEA Conference Expo 2017 NMEA NAMES 2017 PRODUCT AWARD WINNERS AT ANNUAL CONFERENCE & EXPO
The marine electronics industry honored several manufacturers with product awards at the annual National Marine Electronics Association (NMEA) International Marine Electronics Conference & Expo, held on the West Coast this year at the Hilton Bellevue in Bellevue, WA, Sept. 26-28. Read More
Garmin Logo GARMIN EARNS TOP NMEA HONORS AND EIGHT PRODUCT AWARDS
Garmin International, Inc., a unit of Garmin Ltd. today announced that it was named Manufacturer of the Year for the third consecutive year, an honor given to the most recognized company in the marine electronics field for its support of products in the field... Read More
Furuno DFF3D FURUNO REPEATS AS WINNER OF COVETED "NMEA TECHNOLOGY AWARD" FOR MULTI-BEAM SONAR, ALONG WITH BEST COMMERCIAL PRODUCT
The National Marine Electronics Association (NMEA) held its 46th annual conference and expo in Bellevue, Washington last week. In addition to four days filled with marine electronics training and exhibiting the latest products… Read More
MetsTrade Logo SUSTAINABILITY SESSIONS ANNOUNCED FOR METSTRADE INNOVATION STAGE
METSTRADE 2017, which opens its doors in the RAI Amsterdam convention centre on Tuesday 14 November, will showcase its commitment to sustainability in the leisure marine industry. One of the key areas will be on the various items on the issue Read More
IMBC Logo REGISTRATION OPENS FOR IMBC 2018
"IMBC is always the perfect place for our industry to come together to learn about new trends, create important professional relationships and challenge each other on the way we think about our businesses," says AMI Chair Brad Gross, Certified Marina Manager (CMM). Read More
Boating Ontario

New Products

Dtorque 111

YANMAR LAUNCHES THE DTORQUE 111 TURBO DIESEL OUTBOARD

Following its agreement with German manufacturer Neander Shark for exclusive global distribution of the game-changing Dtorque 111 twin-cylinder 50 hp diesel outboard engine, YANMAR MARINE INTERNATIONAL (YMI) has announced the official launch of this exciting new propulsion product. Read More
Sunbrella

INTRODUCING SUNBRELLA® PERFORMANCE ZIPPERS FOR MARINE ENVIRONMENTS

Glen Raven Custom Fabrics, the maker of Sunbrella® performance fabrics, has agreed to a licensing partnership with IDEAL Fastener Corporation, one of the world's largest zipper manufacturers. The partnership has given way to the first high-performance… Read More
CP Cleaner

C.P. MAKES THOSE POTTIES SPARKLE

It's rarely high on the list of tasks boat owners want to do, but cleaning the toilet is always there. With C.P. (Cleans Potties!) from Raritan Engineering, brushing is a thing of the past. Read More
Balmar Logo

BALMAR ANNOUNCES REGULATOR SUPPORT FOR LITHIUM BATTERIES

Balmar's MC-614, MC-624 and MC-612-DUAL smart regulators have all been equipped with an additional standard program specifically designed for LiFePO4 charging. The new standard lithium program is available immediately from Balmar and its distribution partners. Read More

People

George Cuthbertson

INDUSTRY MOURNS LOSS OF C&C YACHTS FOUNDER, GEORGE CUTHBERTSON

Truly one of the greats in Canadian boat design and boat building, George created an amazing and perhaps unequalled legacy of both outstanding boats and outstanding marine professionals; the list of people who worked with him and their accomplishments in the ensuing years... Read More

Boating Stock Market

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THE BOATING STOCK MARKET


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Calendar

Calendar

Check out all of the upcoming events in your Boating Industry

World Conference on Drowning Prevention
Oct 17 - 19, 2017
Vancouver, BC
CC Marine Distributors 2017 Marine Trade Show
Oct 22 - 23 2017
Toronto, ON
Mermaid Marine Distributors Show
Oct 27 2017
Moncton, NB
... View All Events
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