Is growing your boat brokerage a challenge?
Is it overwhelming?
Would you like to learn the easiest formula you can use to grow your boat brokerage business?
You see, I felt the same way until I discovered this formula.
And if you learn about it, understand it, and then apply it, you will take your brokerage to the next level. And again, it’s easy. So simple in fact that it will help you whether you’re an independent broker, boat dealer or you work for one of the biggest shipyard in the world.
After all, the beauty of this formula is that it’s extremely easy to understand and implement. And what’s more, it has a compounding effect. And what does this mean? It means that you don’t need to double your work effort if you want to double your business.
Can I show you?
There are only three ways you can grow your brokerage:
1) Increase the number of customers
2) Increase the average transaction value (price you sell your services and boats at)
3) Increase the frequency of your sales
Here’s an example so you can more easily grasp this:
Let’s imagine you’re a charter broker. You average 50 customers per year. Each charter is sold for $2,000. And each client purchases one charter per year.
Here’s the easy-to-follow math:
• Customers: 50
• Average price: $2000.00
• Frequency: 1/year
Your business would be grossing $100,000 per year.
Now, let’s imagine improving each of these areas by 10%. How much growth do you think your business would have? When asked this question, most people say that their business would grow by 10%. On the surface, this makes sense. But they’re wrong!
Let me show you why:
• Customers: 50 + 10% = 55
• Average Price: $2000.00 + 10% = $2200.00
• Frequency: 1/year + 10% = 1.1/year
Total= 55 x $2,200 x 1.10 = $133,100.
That’s a growth of 33.1 percent!
So, what does it really take to double your business? Let me show you:
Simply, you just need to improve each area by 25%! Have a look below:
• Customers: 50 customers + 25% = 62.5
• Average Price: $2000.00 + 25% = $2500.00
• Frequency: 1/year + 25% = 1.25/ year
Total = 62.5 customers x $2,500.00 x 1.25 = 195,312 = DOUBLE YOUR BUSINESS.
Therefore, if you want to double your business, you just need to increase your effort by 25%.
That’s all it takes.
So, this begs the question: how?
How can you increase your customers, transaction size, and frequency of purchase by 25%? Well, and believe it or not, the answer to this is simple too. But, having said that, that’s a discussion I’ll save for another day.
However, if you rather not wait, then I suggest you look at the Sales Masterclass for boat and yacht brokers.
It contains all of the easy-to-implement methods of growing and DOUBLING your brokerage business.
So, if you’re interested, here it is:
— Vincent Finetti
Founder & Instructor
The Yacht Sales Academy