Is there room under that rock for the rest of us Pinhead???
Is there room under that rock for the rest of us Pinhead???
I did not say that there is anything wrong with credit..managed properly...but if you are in the poo then perhaps you have over committed.Originally Posted by sleepygreg
And that is where a lot of businesses come unstuck...especially retail outlets such as marine dealers...I looked at Satisfaction's website...lots of brands on there..if stocking some of each manufacturers products and sales slow then obviously there is going to be a cash flow problem...which leads to their demise.
Sad for those involved, but true.
LOL..plenty of room. Easier just to stay under the rock and cruise along and no dramas then.
Sorry to hear that about Satisfaction...............that's where we were, wasn't it ?
Don.
"Magpie Navy." VHF 73.
It was a Woman who drove me to Drink......
....and I never gave her money for the Petrol......
So any idea when their firesale might be on? I am sure they will need all the cash they can out of that so it would be pertinent to let people know early.
Cheers,
Chris
Most of the second hand boats i assume will go on sale????? maybe???? But all of the new boats would be under there floor plan so i assume that the companys would have to bye them back as it would be under an agreement with GE i guess???? but i may be wrong. Also Poor Suzuki as there were prob there biggest dealer, well them and springwood.
Cheers
Matty
not totally true pinhead. I have seen business's forced to the wall by morons who have no idea, but think they do. These clowns enter a particular type of business & talk a great game, they work cheap, undercutting everyone ( good customers stay loyal, but when you rely on something that most won't replace for years, they are susceptible to price) they make life very difficult & after a year or so shut down after ruining the market around them. As near as i can figure you are in the air con business & appear to do larger contracts, you will have an 'in' with the construction companies & while you do good work, don't rip them off or shag one of their wives you won't lose the work. Anyone depending on domestic or small, one off business installations can feel the squeeze i have mentioned. Boat yards don't have repeat customers buying a new boat every 2 weeks, usually years apart & it is probably one of the worst for the 'dodgy' salesman. Established, big yards have more chance of surviving, a lot of time with BS, but the fair dinkum little bloke can struggle..
Hey Guys,
Business is tough anywhere in this world right now.
Businesses close for many varied reasons, and poor management is not always the case. Pinheads summary is a blanket one, which does not always apply. There is no way to manage a market which abruptly ceases to operate, as seems to be the case at the moment.
In practice, owners who had boats in being serviced, recieved a phone call from the administrators to say come and collect your boat, regardless of whether it was finished, in pieces, or not even started. Any boats which were finished had to be paid for before release. The mechanics have just lost their jobs, and unless you approach them and pay cash to have it finished, it is as it is.
Satisfaction Marine had no used boats, only new. Their stock, boats, chandlery ect has been cleaned out by their suppliers, the remainder will go to private auction somewhere at some point.
Lets not carry on about poor management, or their product, or the way they did business. Lets just hope that the 20 odd staff who are now out of a job get their entitlements back, and that they can meet their mortgage payments next week.
The used boat yard next door, Coastwide Marine, was not affected, and is business as usual.
Regards
Darren
.........
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]
Pobbs > 28. Strictly recreational fisher.
Mr Chicken > 3 in Janaury! Likes to reel the line in, fish on the end or not.
Guys, perhaps it is this.
In the car industry, for a lot of the smaller / independant yards, the cars on the lot are in fact owned by a finance company, not the proprietors of the yard. In Aus there are only 2 finance companies that provide this sort of service, and they have both recently announced they are going to stop it because of the credit crunch. It means a lot of yards will disappear over the next 12 months. It does not mean they have mismanaged their business.
Perhaps and I am speculating, but perhaps it is the same situation for boat yards, perhaps they get finance to hold stock of boats and motors, and this finance is simply no longer available, hence a lot of smaller boat yards will also close ?
Until you can build the capital to buy your own stocks either by overdraft, or from your pocket, this is a fairly normal practice. These finance companies could also appear in other iterations in these yards as zzzMarine finance etc. or zzzmotor finance in the case of car yards.
It is a shame to hear these sort of things, it simply erodes competition in the market
If men are from Mars, and women are from Venus, politicians must be from uranus ?
Hey Guys,
Before rumour flies, I also just had it confirmed that Hinterland Marine will be closing their Burleigh store, and operating out of their much smaller Labrador store, which is a Yamaha dealer.
It is effective January 1, and I am not sure if they are maintaining the ETEC franchise.
Support your local if you are in the market. Times are tough.
Regards
Darren
Geez, they're dropping like flies.
I'm glad I'm not in the Marine game..............
I'm in Construction........got nothing to worry about
Yeah, right............................
Don.
It was a Woman who drove me to Drink......
....and I never gave her money for the Petrol......
I work in construction too, for a major contractor in the game.I'm in Construction........got nothing to worry about
Yeah, right............................
In Brisbane, there are so many construction projects in the works and beginning to ramp up that our site is aware of the probable labour shortage that will arise once the billion dollar projects such as Airport Link start hiring, and the competition for labour between the major projects.
Pobbs > 28. Strictly recreational fisher.
Mr Chicken > 3 in Janaury! Likes to reel the line in, fish on the end or not.
I think TCM was in error on Springwood but doing the right thing raising the alert as long as it was in good faith...(ie he believed it to be true.) Presume that this thread is also in good faith and I appreciate it as it alerts me to be careful shopping there. As long as retail customers remain unsecured creditors you cant blame consumers from warning each other of danger. Seems to me exactly what forums like this are for....PROVIDED it is done genuinely in good faith.
It's sad for Satisfaction Marine....presumably more jobs and perhaps deposits lost.
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