Brunswick to help dealers plan for succession

LAKE FOREST, Ill. – Brunswick Corp. (NYSE: BC) will offer discounted pricing on succession planning to Gold and Platinum level marine dealers participating in its Dealer Advantage program, the company reported in a statement today.

The Dealer Legacy Program, one of many products and services offered through Dealer Advantage, is being provided through an agreement with AXA Advisors LLC.

“It’s common for marine dealerships to involve multiple generations in the business,” said Dealer Advantage Director Betsy Lazzara. “But there is not always a clear plan for future management or ownership in the case of retirement, illness or the unfortunate death of a senior owner.”

The Dealer Legacy Program, through which dealers are working with AXA Advisors, increases the likelihood of future dealership success through the development and implementation of a comprehensive business transfer plan, Brunswick stated. Steps include a discovery interview to formulate the plan, coordination of an independent business appraisal and the development of a buy-sell agreement and, ultimately, implementation of the plan including funding of future liabilities.

Brunswick Dealer Advantage features three levels of participation – silver, gold and platinum – each based on the amount of the dealership’s retail business dedicated to Brunswick boats and/or Mercury Marine engines. The stronger the partnership with Brunswick, the higher the dealership’s level of eligibility and the more benefits it can access through Dealer Advantage. All U.S.-based marine dealerships that are in good standing and carry a Brunswick-owned boat line and/or Mercury Marine engines are eligible at the baseline silver level. There is no cost to dealers to participate, and dealers may opt to participate in all or some of the benefits depending on their unique business needs, according to Brunswick.

Other Dealer Advantage benefits include customized retirement strategies, including 401(k) plans; real estate advisory services; discounted rates on office supplies, computers and equipment, credit card processing, Internet advertising, payroll services, Web site design, wireless phone service, small package freight and more. Dealerships can also take advantage of retail financing, extended warranties and insurance offerings in-house.

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