May 14th in Nevada will see the key players of the American superyacht industry meet to talk about the current state of the market.
The American Superyacht Forum has proved a hotbed of industry activity in previous years and this year, it’s set to do so again. A major talking point of the forum will be ongoing positive momentum as the industry continues to regain an even keel and maintain its balance in the wake of the GFC.
One of the key factors to that balance is opening up new avenues of revenue for the industry. Todd Beechey, president of OceanScape Yachts, will sit on a panel at the Forum which will discuss how to do that.
“The industry often has a slanted focus toward the UHNWI. To us, there is a big market that’s being forgotten about. The people who can and do take beautiful vacations each year, and who can afford to take those vacations onboard a yacht, but have not yet been reached by the industry.”
One of the things Beechey thinks needs to change, for this market to become a realistic option, is an earning model that benefits everyone in the industry, not just those involved in the very biggest of yachts. When every thing from the broker’s fee, to the crew’s tips is based on percentage, what incentive is there for industry members to focus on developing the smaller end of the market? And that’s exactly where he believes industry growth will be driven from – the bottom, up.
“Does a four person crew on a $100,000 a week charter yacht work harder than a four person crew on a $50,000? Perhaps not. So why should they earn so much more in tips?” Asks Beechey.
So how does the industry draw in this new market and start driving that smaller end, high volume growth? It’s a topic that Beechey is passionate about and one which he’ll discuss in depth at the Forum. A new form of marketing is one – working through new channels to find a different customer base – and making the industry a little more approachable, more accessible and less intimidating to the new customer is another. Ways of implementing both of which will be discussed at the forum.
Todd Beechey would welcome discussions on this topic and invites anyone interested to contact him prior to, or at the forum to talk about this new demographic to the superyacht industry.