IBBI reports significant growth

MIAMI, Fla. – During its 15th Annual Shareholders’ Meeting at IBEX last week, Independent Boat Builders Inc. reported a 30-percent increase in revenues and a 15-percent increase in boat production, IBBI President Tom Broy reported in an interview today.

The 24 members of the buying group offer up a combined annual production of about 45,000 boats.

Over 80 major marine suppliers have purchasing agreements with IBBI. The organization also oversees a number of value-added member services, such as product testing, hands-on training in new processes, and technical seminars, according to IBBI.

“I attribute the organization’s growth and strength to a number of factors,” said Broy in a statement.”First and foremost, we have a solid membership, made up of builders known and respected throughout the industry. IBBI operates as a cooperative and, as such, each member is an equal owner. Service is provided on an at-cost basis, with all profits returned to the members. Additionally, IBBI has allied with the top marine suppliers, giving members a solid supplier base to draw upon.”

Broy also cited the contributions of IBBI’s “team of dedicated professionals we have been able to attract and retain. With extremely low turnover, we have been able to continually develop new and better programs for the members.”

During the meeting, the boat company owners put on a Best Practices Session in which they covered employee retention, online ordering of boats and warranties by dealers, use of retail sales statistical data and the tracking of raw material pricing, said Broy.

In addition, an accountant from RSM McGladrey spoke on the topic of NEXUS taxes, tax credits and benchmarking statistics.

“Evidently, some states are trying to collect taxes on business conducted in their state by companies located in another state,” explained Broy.

More information about IBBI may be found on its Web site at www.iboatbuilders.com

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