MINNEAPOLIS – Genmar President Irwin L. Jacobs sent a letter to the company’s dealers this morning offering them what he described as a “blockbuster opportunity” to be part of a new boat-rental program from Genmar.
“We believe there’s a need – and a huge untapped market – for a uniform and consistent nationwide rental program for boats and pontoons,” Jacobs said in the letter. “Genmar has developed a boat rental program that will, for the first time, offer qualified dealers the option to be in the boat rental business without tying up their own cash or floor plan dollars and still be provided with opportunity to substantially increase their dealerships’ profits.”
Dealers who participate will enter into a lease agreement to pay a monthly fee for each boat they lease for their rental business. The lease is a 3-year agreement, and dealers will get new boats, trailers and pontoons equipped with Yamaha four-stroke engines every 36 months, according to the letter.
At the end of the 36-month lease, all dealers in the leasing program will have the opportunity to purchase the boats and pontoons at approximately 37-percent of the original price for the boat, engine and trailer. There will be no requirement to purchase the rental boats after 36 months, Jacobs said.
The program will also be offered to non-Genmar dealers, according to the letter.
The only products offered for the program will be Roplene-built because Genmar said they are the “only boats and pontoons in the world capable of standing up to the rigorous uses and abuses to which rental boats are consistently subjected.”
“Frankly, we believe there are more potential customers to grow boating through Genmar’s new rental business than any other program in the market today,” Jacobs said.
A questionnaire was also included with the letter, and Jacobs asked those who wished to be considered for the program to fill it out and return it as soon as possible.
“I will personally be presenting the Genmar boat rental program at our Genmar All Family Dealer Meeting in Las Vegas Sept.12-15,” Jacobs said. “In order to make the necessary time and available room capacity in Las Vegas, we will need to have your completed questionnaire returned to us no later than the next 10 to 14 days.”