The Marine Industry Certified Dealership Program is having a positive impact on the overall health and financial success of dealerships across North America, according to new data.
Data collected from dealerships in the United States and Canada by the research division of Robert W. Baird & Co. shows that Marine Industry Certified Dealerships, on average, outperform their non-certified counterparts in several key metrics, including annual revenue generated, new boat demand, new and used retail sales, satisfaction with their current inventory levels, greater confidence in current and long-term business conditions, and access to retail and wholesale credit.
The certified program today released a "Performance Perspective” that spells out the Baird results in detail, highlighting aspects of the certification program that are likely potential contributors to the uptick in results that certified dealers are reporting.
"We originally created the Baird partnership to help give our members greater insight into the trends and key performance indicators that are driving the boat business across North America,” MRAA certification and benefits director Sonja Moseley said in a statement. "But once we began digging into the numbers, it became clear that certified dealers were setting themselves apart from the industry norms.”
Data collected from certified and non-certified dealers between December 2013 and December 2014 — 1,832 dealer submissions — showed that, on average, certified dealers:
- Generate 63 percent more revenue
- Report 15 percent higher retail sales for new boats
- Report 22 percent stronger demand for most new-boat types
- Indicate greater access to both retail and wholesale credit
- Are generally more satisfied with business conditions, both currently as well as in a three- to five-year outlook
"The MRAA Pulse Report data serves to underscore that certification has a positive impact on retailers across North America,” Moseley said. "By participating in the MICD program, dealers have access to a proven template for running their business efficiently and effectively. The wealth of tools, strategies and best practices they can access through the MICD program assists them in improving both their customer and employee satisfaction, as well as the dealership’s bottom line.”