MarineMax aims to float your boat. The nation's largest recreational boat dealer has about 54 locations in around 19 states. Dealerships sell new and used pleasure boats, fishing boats, motor yachts, ski boats, and high-performance boats. Sales of new boats made by Brunswick, including Sea Ray and Boston Whaler boats, account for around 48% of revenue. The company also sells boat engines, trailers, parts, and accessories; arranges for financing and insurance; provides repair and maintenance; and offers boat brokerage and storage services. MarineMax is the exclusive dealer of Sea Ray in almost all of the areas where it operates. Since its founding in 1998, MarineMax has acquired about 20 boat dealers.
The average selling price of one of MarineMax's premium boats was about $126,000 in fiscal 2011, which was a decrease of approximately 13% from $145,000 in fiscal 2010. The company had to decrease prices due to the weakened US economy, but in fiscal 2011 the company saw same-store sales (the best indicator of a retailer's performance) increase by 8%, compared to a decrease of 17% in fiscal 2010. Overall, company sales increased to $480.9 million in fiscal 2011 compared to $450.3 million in fiscal 2010. As the US recession wanes and the economy slowly recovers, it seems that MarineMax is showing signs of improvement. Although, Florida's housing crisis will be of major importance on MarineMax's future performance.
The company in early 2011 acquired and added to its portfolio of cruising and fishing boats Panama City-based Treasure Island Marina's retail sales and brokerage operations. Panama City sells cruising and fishing boats under the brands Boston Whaler, Grady White, and Sea Ray; Panama City also has the largest boat storage facility in the Panama City region. – less
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