gone

[Ocean_Spirit]

I agree with the above sentiments - it is very unfortunate for the staff and owner's. Having dealt with staff of Satisfaction Marine in their parts area once, I was very impressed with the level of service they offered. They had a presentable show-room and carried plenty of stock.

Like any business owner, they put a lot on the line and had a great looking yard wth plenty of stock. The unfortunate outcome of this is that all their hard-work, risk and persistence to increase the value of their goodwill is essentially lost. Australia has a long history of hard-working entrepreneurs with legends like RM Williams, etc. who have shaped this country and provided employment, opportunity and fuelled growth. Among these men and women are plenty of boat-builders, mechanics, repairers, salespeople, etc. I really hope as a country we will soon see out the storm and overcome the 'doom and gloom' and keep that prosperity alive.

In these times, where demand slows, there is a positive chance for the manufacturers to reinvest in R&D, consolidate where they are at, and think ahead with the big picture in mind. The builders who did this in the late 80's (lead the industry today) stuck to this and have, in the past two decades, advanced a long way! Part of this will involve strategy - new concepts about how to avoid dealers having to bear such massive costs in floor-plans? Hopefully, the dealers see the return also from this with increased sales. New construction techniques such as Signature's RIVALE is a big plus - in turn seeing cost savings past onto the consumer, with reduced customer response times and more efficient manufacturing.

We're only here for a short-time, so we may as well make the most of it and stay positive!

[PinHead]

That is quite sad, and I hope their employees get looked after, and damn, so close to Christmas. What a shame.



Lets hope your business doesn't fail mate, because we'll all know what that means

But it's certainly not the case with everyone. I've seen many a local hardware store shut shop after generations of the same family running it, because a Bunnings opened up down the road. [completely unrelated I know]

don't worry..been there, done that and learned a lot...almost 30 years back my first business went belly up..and the reason was..ME!!!!

Have now been operating this business since 1995..started with some cash..no credit..no overdraft..and still neither and do not operate accounts with suppliers..pay as I buy it.

DR..lots of those morons in my industry but all the licensing requirements now is starting to weed some out..thankfully.

As stated above....the hardest part with a marine dealership is funding the stock..a difficult task to estimate turnover well in advance but that is a part of the business they partake in.
Would be good to see the employees get their entitlements..but also as important..that the creditors get their money..they too have employees to pay.

[ant_72]

Hey there Pin Head in the economic climate that we are starting to see what is the first thing that people stop spending hard earned money on - Luxuries- I am under the impression that boating is a luxury so the boating industry has seen a down turn. Not to say that no boats are being sold but a noticable drop in the numbers and a swing in the type of boats being sold. If you are not getting the sales you are not making ends meet. Before you go and label them stop to consider the fact that it is a lot livelyhoods that are going down the gurgler. Don't just sit and say that they must have been bad operators there could be many contributing factors to their demise.

[PinHead]

Hey there Pin Head in the economic climate that we are starting to see what is the first thing that people stop spending hard earned money on - Luxuries- I am under the impression that boating is a luxury so the boating industry has seen a down turn. Not to say that no boats are being sold but a noticable drop in the numbers and a swing in the type of boats being sold. If you are not getting the sales you are not making ends meet. Before you go and label them stop to consider the fact that it is a lot livelyhoods that are going down the gurgler. Don't just sit and say that they must have been bad operators there could be many contributing factors to their demise.

get off my case..i am not the ones that have gone down the gurgler.
In any business, you need a strategy based on worse case scenario and an EXIT strategy whereby you can pay your employees and creditors what they are owed at any time and then close the doors..if that is not in place then bad management.

[Dirtysanchez]

I agree - if you have been running that close to the bread line with overdrafts or high interest loans to maintain stocks whilst economic indicators were forecasting the downturn as they are, and you then got to the stage where you can't pay wages etc, you clearly missed something along the way, which is a shame and puts immense pressure on those who become out of pocket as a result.
I know and it does not need to be said, the people behind this business have most likely lost everything too.. which is dreadful

[Wahoo]

i agree with what Pinhead said, now days it is way to easy to get finance. rates go up 1/2% and you see PPL jump up and down crying, now do you really think these PPL should have a loan for a business or even a house loan??? think not, and this is why the US is the way it is, fuel prices go down and all of a sudden they spend the money else were instead of putting it away, when the rates go down which they will even more, PPL will still spend the money instead of putting it away, then cry when they go up no ones fault but there own.......

[Jabba_]

Yep lots of boat yards doing it tough at the moment....

It is true Hinterland Marine Burleigh will be closing its doors effective from January 1 http://www.hinterlandmarine.com.au/ and moving to its Labrador Marine Tune..

They will no longer be a dealer for Hains Hunter, Quintrex and E-tec...

[Tangles]

Everyone is just blaming the economy downturn, the world is in financial crisis is all we hear from those newsreaders who have dived into a bucket of makeup and spend hours everyday practicising talking while smiling at the same time,

The latest doom and doom is a bit like climate change and I do remember the sky was falling in with the ozone layer a few years ago., but its still up there. Gave up listening to them ages ago.

Contrary to what those mental giants reading the news say every 5 minutes proclaiming that the world is on the brink of collapse and we are all financially doomed, well the Fast 100 businesses dont think its just the economy, its how Directors make good decisions on the critical issues facing the business which will determine their future success or not ( and of course these vary)

Survey of Big Issues for 2009

Big Issues 2009 (facing world economic meltdown)
1: Hiring Quality Staff 63%
2: Slowing Economic Conditions 43%
3: Capital for Growth 30%
4: Managing Staff 30%

Compare that to the Big Issues in 2008
1: Hiring Quality Staff 66%
2: Growth Strategies 32%
3: Managing Staff 27%
4: Margin Pressures 20%

Pretty interesting that businesses still believe their biggest issue in 2009 will still be hiring the right staff for their business as the number one item, not capital management, not the economic meltdown, no its the human element as it always has been. A good business needs good staff and good management.

And as ASIC puts it simply,
The legal obligations imposed on Directors underpin good corporate governance practices, these need to be balanced with commercial realities so that Directors can make good business decisions.

So likewise I dont think a business failure canbe simply put down to the economy... I do feel for the staff and hope they where properly looked after..

Mike

[pursuit001]

heard from a mate that they have closed down has any once heard this???

[Angryant]

heard from a mate that they have closed down has any once heard this???

Check their website:

http://www.hinterlandmarine.com.au/

[ant_72]

Pin Head i do agree with you about business strategy but working in the industry i know first hand the swing away from the spend on luxuries such as boating. The down turn has not sudden like some people believe but it is not the boom period as it was a few years ago. I just feel that a bit more sympathy for all persons involved might not go astray as we do not know all the facts that have led to the downfall. Sorry if you took offence but being in the industry with the economic climate i worry for not just my livelyhood but all in the industry

[dreemon]

Hinterland has always been happy and helpfull unlike Marine tune that wouldn't help get me parts for a yamaha made mariner, they took the order and the parts said yamaha, I think they/hinterland tried .

[captain rednut]

I must say that we as members have to be careful. I put a thread up about springwood marine that turned out to be untrue and i had egg on my face. I would say that this could be a rumor or they might be downsizeing etc(satisfaction marie). I know it seems the marine game has a lot of majors problems but as members we need to get behind these retailers not only for the business owners but also the workers and also suppliers. I have leart my lesson and i would say to all ausfish members to support there local dealer etc. After all the more that go by the way side the more expensive boats etc will become as the one's left will not have the competion.

hi tin can marlin
it is good to see you starting to support us marine dealers in these hard times by writing a little positive news from time to time as consumer confidence can be affected by these forums as well?. it was good to see you learned from your previous mistake.
cheers jim

[Deadstick]

It is interesting to sit here & read all these comments from everyone debating business management & economics when it concerns other peoples futures.

I am here to clarify a couple of points on this thread for you. I am the manager of Hinterland Marine. Yes it is true that we will be closing our Burleigh branch as of the 1st of January. It certainly hasn't been an easy decision to make in doing this but is necessary for the survival of our business.

As Pinhead has pointed out quite often a lot of businesses fail due to poor or mismanagement but this is not always the case. The marine industry is very complex to manage & very susceptible to market conditions as is obvious by the amount of marine dealers that are closing there doors. We realised some time ago that the market was declining & have done our best to manage stock levels by selling down & not reordering. we have also cut back in our numbers of staff to minimum levels. Despite our best efforts even in the peak of our selling season sales would be down at least 50% & this has been outside of our control.

It may be easy in your business to own your stock outright & manage your cash flow but this is not the case with marine. Most Marine dealers would run a stock level of between 1,000,000 - 5,000,000 depending on the brands they carry. Put on top of this that most lead times vary between 4-12 weeks for tinnies & 2-12 months for glass boats. Then add the fact that you have to deal with between 5 to 10 manufacturers to put all of this together.

No one could have predicted the down turn we have just seen & no one can even tell you when it may end or how bad it is going to get. We did everything we could but it still hasn't been enough which is why we are consolidating. it means that some of our staff will loose their jobs but hopefully the ones that survive @ Broadwater boating centre will remain their for a long time.

We will be running a closing down sale until the end of December & all of our stock must be cleared. this will be a genuine offer & all goods will be sold with full warranties. We will also be making sure that all of our staff receive their full entitlements & will be offered positions where possible.

I have spoken with other Marine Dealers & yes they are all doing it tough. most of you on here either own a boat or go boating. If you want this industry to survive then i urge you to support your dealer.

[tigermullet]

Survey of Big Issues for 2009

Big Issues 2009 (facing world economic meltdown)
1: Hiring Quality Staff 63%
2: Slowing Economic Conditions 43%
3: Capital for Growth 30%
4: Managing Staff 30%

I can hardly believe that I just read that!

If that's their honest assessment then we are totally shagged and it's getting worse.

Managing staff 30% - dear oh dear, what have they been smoking?

Capital for growth also at just 30%.

Run for the hills. The lunatics have taken over the asylum.