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Marine 20 Groups

Discover the truth about why 20 Groups are good for dealers and manufacturers, straight from the source. The “20 Group” aspect refers to the number of dealerships typically involved, although the number can vary. A marine 20 Group is a gathering of boat dealerships who come together to share insights, best practices, and strategies for improving their businesses. Marine 20 Groups offer valuable networking opportunities and a platform for collaborative learning and improvement within the marine industry. By working together, dealerships can enhance their competitiveness and ultimately improve their bottom line. This paves the way for sustainable growth by aligning dealer strategies for long-term success.

How Our 20 Groups Work

Group Composition

A marine dealer 20 Group consists of around 20 dealerships, though this number can vary. The dealerships are usually from different geographical locations but may share similar market conditions or challenges.

Meetings & Discussions

Members of the group meet regularly, often several times a year, to discuss various aspects of their businesses. These meetings can take place in person or virtually.

Sharing Information

During these meetings, members share information about their operations, including sales strategies, marketing tactics, inventory management, customer service approaches, and financial performance. This exchange of information allows members to learn from each other's successes and challenges.

Benchmarking & Performance Analysis

By comparing their own performance metrics to those of other dealerships in the group, members can identify areas where they excel and areas where they can improve. This benchmarking process helps dealerships set realistic goals and track their progress over time.

Professional Development

In addition to sharing practical tips and strategies, marine dealer 20 Groups often provide opportunities for professional development. This might include guest speakers, workshops, or training sessions on topics relevant to the marine industry and dealership management.

Accountability and Support

Being part of a 20 Group provides a level of accountability as members set goals and report on their progress to the group. Additionally, members often provide support and encouragement to each other, creating a sense of camaraderie and teamwork.

Cobalt 20 Group Case Study

Embark on a journey through our Cobalt 20 Group's remarkable evolution, where success stories speak volumes

In 1999, our members were navigating break-even margins, with sales hovering around $4.8 million. Fast forward to 2001, and the narrative transformed dramatically. New unit margins surged by 5.2 percent, propelling sales to $6.2 million—a staggering 29.2 percent increase in just two years, coupled with a remarkable boost in net profits by over 55 percent!

Zooming in on 2013, the narrative only gets more compelling. While maintaining robust margins and net profit percentages, average sales volume soared to an impressive $20 million. Eight of the top ten Cobalt dealers in 2013 found their stride within this very 20 Group, with six surpassing the group average for new boat margins. Remarkably, Cobalt's leading dealer from 2007 to 2011 also proudly claims membership. The common denominator? Exceptional gross margin performance.

20 Group Misconceptions

It's not uncommon for misconceptions to cloud our judgement, but let's debunk the myths surrounding 20 Groups

  • 20 Groups hinder dealers from moving inventory by promoting higher margins. Critics argue that lower prices equate to higher sales

    Contrary to popular belief, 20 Groups foster growth in sales volume while only marginally adjusting margins, typically by 2 to 5 percent. When dealers join a 20 Group, they often prioritize aspects like accounting efficiency, service quality, or customer satisfaction, momentarily shifting focus away from sales. This temporary dip might wrongly signal a decline in sales due to inflated margins. However, dealers swiftly regain momentum, achieving remarkable boosts in both sales figures and profit margins.

  • 20 Groups coerce dealers into slashing boat inventory

    Our ethos revolves around stocking inventory at optimal levels, averaging at least two turns annually. Why? It's the sweet spot for financial vitality, endorsed by GE's recommendation. Striking the right balance between a three- to six-month supply ensures dealers maximize sales opportunities without falling short due to inventory constraints.

  • Joining a 20 Group inflates warranty claims

    Warranty claims may increase post-membership, but not as a ploy to game the system. Instead, it's a byproduct of newfound organizational efficiency in service departments. Proper monitoring ensures legitimate claims are honored, fostering trust and accountability.

  • Dealers relish warranty work

    Quite the contrary! Warranty tasks often entail time constraints and lower reimbursements, hardly a dealer's idea of a joyride

  • 20 Group members gang up on manufacturers with unreasonable demands

    Collaboration, not coercion, defines our approach. Branded 20 Groups serve as fertile ground for constructive dialogue, fostering mutual understanding and propelling product and policy enhancements

  • Ideal dealers remain uninformed to boost manufacturer sales

    Savvy, financially astute dealers form the backbone of a thriving manufacturer-dealer ecosystem. Our win/win philosophy cultivates long-term prosperity, benefiting all stakeholders.

Manufacturers innovate, dealers deliver exceptional experiences, and 20 Groups drive relentless improvement. It's a cycle of empowerment, where each member fuels the collective pursuit of excellence. Join us on this journey of transformation, where every meeting yields actionable insights and every milestone marks progress towards unparalleled success.

Parker Business Planning stands as the beacon of excellence and innovation in the marine industry, with a distinguished legacy spanning over 35 years. Renowned for our unparalleled expertise and steadfast commitment to client success, we serve as trusted advisors and strategic partners to marine dealers and marina owners across the U.S. and Canada. Our comprehensive suite of services encompasses everything from facilitating dynamic 20 Groups to delivering top-tier consulting solutions tailored to the unique needs of each client. With deep-rooted industry connections and a finger on the pulse of market trends, we empower our clients to navigate challenges, capitalize on opportunities, and achieve unprecedented levels of success. At Parker Business Planning, we pride ourselves on driving tangible results, setting new standards of excellence, and exceeding expectations every step of the way. Join us today and experience the transformative power of partnership with Parker Business Planning.

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