Marine Ice Maker Experts Discuss Why the Youth Today Aren't Buying Boats
Your Marine Ice Maker Professionals Share Ideas That Can Help Younger Ones to Get Into Boating
Raritan Engineering your marine ice makers specialists would like to share with you these topics we thought would be of interest to you this month regarding why the youth today are not buying boats.
Your marine ice makers distributors talk about how millennials participate in boating at similar rates to their parents, yet they're far less likely to actually own a boat. Why? Here's a millennial's perspective.
Former Bain & Co. management consultant, millennial Fiona McGlynn, is on a sailing sabbatical with her husband, Robin.
My husband, Robin, and I had often discussed this question. Having become first-time boat owners only five years before, at ages 24 and 29, we were often the only identifiable 20-somethings at our silver-haired yacht club. Over the next few years, as we immersed ourselves in life on the water, we began to meet other millennial boaters, a handful of young salts who shared our passion.
Of course, the numbers surrounding boat ownership don't paint the entire picture. Lost in these figures are the young boaters who use their parents' boats, charter a boat for the day, or ride-along with friends.
I began to wonder what had caused this shift. Why don't more millennials own boats? Here's what millennial boaters and industry analysts said.
Financial strain came up as the number-one challenge for the young boaters we interviewed. As Mike Provance, a 36-year-old powerboater from Coal City, Illinois, noted, "Cost is the big factor, but it's not just the boat. It's my truck, maintenance, fuel. It's worth it. But it adds up."
Keith Raycraft (36, Alberta, 16' Thunder Bolt bass boat) has lived on the water his whole life and pursued a career as a marine-engine technician. For Keith, family comes first. "To me it's all about making memories with my daughter. When I was a kid, I couldn't wait for the weekend so my dad could take me to the island. I want that to be the same for her!"
Getting Greasy And Sailing Anxiety
Ashley Banes (26, Iowa, 186 Hawk Sport) grew up powerboating with her dad on a 22-foot Mach 1 on the Mississippi River. Today she and her husband own a 186 Hawk Sport that allows them to take their 2-year-old out to fish, visit sandbars, and anchor out on weekends.
Guillaume Beaudoin (34, Quebec, C&C 24). Guillaume has a C&C 24 that he shares with a few friends in Montreal. He is also a filmmaker and is currently boat-hiking his way from Panama throughout the South Pacific, documenting community-driven ocean-conservation projects.
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Jimmy Palmer (36, New York, 311 Formula) started small, but has come to love the big go-fast boats and people associated with them. "I enjoy going to charity fun runs, poker runs, and even just throwing anchor for a good day with friends." For the uninitiated, a poker run is a gathering of high-performance boats where each participating boat navigates a carefully charted course, stopping at five checkpoints along the route to pick up a sealed envelope containing a single playing card.
What's The Future Of Boating?
The appeal of boating transcends age, and 20- to 39-year-olds love boating for the same reasons their parents did. They see it as an opportunity to socialize, create family memories and adventures, and unplug from work.
Ian Drogin (28, California, Bavaria 44), along with his brother and three friends, recently completed a six-week sailing and climbing adventure in the Aegean Sea where they tackled several limestone crags in the Greek Islands. They chartered a Bavaria 44, Hellenic Sky, which served as "base camp" for their trip.
Mark Miele and Eden Yelland (37/34, British Columbia, 36' Universal Europa Sedan) live aboard their 36-foot trawler, Halcyon I, part-time and regularly coastal cruise in the Pacific Northwest. In 2015, the couple left their jobs and voyaged from Victoria to La Paz, Mexico.
How To Help Get Young People Out On The Water
Fellow Boaters
Share your knowledge. Experienced boaters make a big difference by offering advice, hands-on help, and encouragement.
Emphasize safety. A frightening experience on the water can put a newbie off boating. If you see a green boater (or anyone really) doing something that sets off alarm bells, be a friend and take the time to help, gently pointing out a safer approach.
Introduce a young person to boating. Do you have any millennial family, friends, or work colleagues with whom you enjoy spending time? Offer them an afternoon out on the water. Help them catch the boating bug.
‘Airbnb for boats’ startup Boatsetter buys competitor Boatbound
Boatsetter will be taking select talent from Boatbound plus logistics tech and its inventory of vessels for rental. A source familiar with the transaction said the acquisition was paid for with Boatsetter stock valued in the low-millions range.
The deal makes Boatsetter the biggest peer-to-peer boat rental service in the States, and possibly the world.
To fund future acquisitions of other competitors, Boatsetter also is announcing it has added $4.75 million in funding to its December 2016 Series A round, bringing the startup to a total of $17.75 million raised.
Everyone’s a captain
Boatbound launched back in 2013, well before Boatsetter, and raised more than $5 million from 500 Startups, equity crowdfunding platforms and boat manufacturer Brunswick.
Boatbound quieted down since moving from San Francisco to Seattle 2016 to cut costs and push towards profitability. Now the nationally available service is somewhat oddly being acquired by a competitor that was only operating in one state.
The combined company hopes things will sail smoothly thanks to Boatbound’s technology for routing rental requests and Boatsetter’s focus on insurance.
Based out of Florida, Boatsetter is a three-party marketplace where private boat owners and professional charter companies, captains and renters meet. Users can pick from nearby boats, rent one with a captain attached or pick a separate captain, and quickly get out on the water at an affordable price.
Baumgarten actually started a peer-to-peer boating insurance company called Cruzin that later merged with Boatsetter. That’s how Boatsetter provides $1 million in liability coverage, $2 million in boat damage coverage, plus additional umbrella coverage to make renters feel safe.
Experience > possession
Now the 27-person startup has a new channel to chase the estimated $50 billion yearly total addressable market for boat rentals. Boatsetter has partnered with Airbnb’s new experiences platform to let people pay to learn to sail in the San Francisco Bay, take a lesson from a pro wakeboarder in Miami or have paella cooked fresh onboard by a chef in Barcelona.
Boatsetter’s biggest challenge will be developing awareness. Most people assume they need a ton of money or boating skills to get out on the water. But the world is shifting from a materialistic culture to an experiential culture. It’s why Airbnb is blowing up.
People want to do amazing things they can capture on their camera phones and share on their social networks. They want memories. And it’s hard to top gliding over the waves with friends on your own private boat… even if it’s just for the afternoon.
So don't forget these pointers when trying to encourage young ones to get back into boating. 1) Share your knowledge and experiences with them; 2) always be safety conscious; and 3) take them out on an afternoon trip on the water.
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