Insights from Boating Industry’s Top 20 Dealers: Gibbons Motor Toys
Gibbons Motor Toys, ranked number 17 on Boating Industry‘s 2024 Top Dealers list, consists of two locations in Alberta and British Columbia, Canada.
Tim Panasiuk founded the business in 1981 as an automotive repair shop, and over the years, it has evolved into a marine and powersports dealership. Panasiuk’s son, Braden Panasiuk, worked at Gibbons Motor Toys during high school and began full-time in 2011.
“I worked as a mechanic in the back for a few years and then started working up front in a few different roles,” said Braden Panasiuk. “Today, I’m the general manager and Tim is semi-retired at this point and time.”
Current inventory
In the marine business, Gibbons carries StabiCraft, Coyote and KingFisher boat brands. “Last year, we struggled with some of our bigger, expensive offshore boats. This year, we’re doing a lot better there,” he said. “We managed to sell off some of our bigger boats finally. That’s our big difference in revenue this year versus last year.”
Still, he noted that boats priced near $150,000 are performing better than larger boats and those that fall around the $60,000 price range. “It seems like middle-of-the-range priced boats are doing the best for us in the last two years,” he said.
Overall, Gibbons has experienced a steady year in terms of sales. “Revenue-wise, we’re actually going to have one of our best years ever, but definitely at a reduced margin,” Panasiuk explained. “We’re having to work harder than we usually would to get deals across the finish line and discount more than we’d like to. We are also sitting on more inventory than we’d like to, and still have fairly heavy amounts of non-current inventory.”
Although the dealership’s current inventory status has improved compared to last year, he is still focused on getting boats sold.
“We’re optimistic, it’s just that there are definitely better things you can do than have all your money tied up in your inventory,” he said. “We’re not in the panic stage, but we’re being very careful about our plan for 2026 in terms of what we reorder and how our stocking levels will look next year.”
Making the sale
Over the last couple of years, customers who have waited to finalize their purchase are more likely to pull out of the sale. “The focus at this point is to make sure that any deals we have in progress get across the finish line and those boats get delivered,” Panasiuk said. “In terms of our selling process, we definitely worked hard on that even before Covid. We were putting a lot of effort into growing our management team there and really refining their process.”
And he is proud of the dealership’s customer service, noting its Google rating and customer reviews. In fact, referrals account for the majority of Gibbons’ business. According to Panasiuk, they also represent the dealership’s highest sales conversion rate.
“We’re just trying to perfect our process so every customer that comes here is sending friends and family members to buy boats as well,” he said.
To assist sales, Gibbons has hired a second marketing staff member, and the dealership is investing more in its marketing efforts. “We’re launching a new website in the next couple of months,” Panasiuk added. “We’ve definitely ramped up our marketing budget on what we spend on ads and different campaigns. That’s one thing I think we’re doing that’s very significant, but I don’t think a lot of that will have an impact until next year.”
Working with the same team
In addition to a refined sales process and strategic marketing efforts, Gibbons has a consistent team, benefiting both the business and its customers.
“We hired a couple of people very early in the year, and everyone is still on board at this point,” Panasiuk said. “I’d say our turnover is very stable, probably more stable than it’s ever been. There are always a few areas that are a struggle, technicians are generally a tough one, but we’ve actually had no turnover this year at this point.”
Although there is one sales position open, he is pleased that the dealership has had the same team in place for most of the calendar year.
“There are definitely some problems we’ve got to work through, but overall, we are having a decent selling year considering the circumstances in the world.”
As a Top 20 Dealer
As a 2024 Boating Industry Top 20 Dealer, Gibbons Motor Toys sets the standard in terms of customer service, marketing strategies, leadership, and overall best-in-class business practices.
“We thank our employees and our team more than anything for that, because they’re definitely who make us what we are,” Panasiuk said. “It means a lot, and it’s something that we definitely don’t take for granted. It’s a pretty big tool in terms of being able to offer good customer service and ultimately drive sales. We have a great management team, we have great employees, and I think we’ve done a great job at building a structure that functions well. And we have a great culture.”
He explained that all employees are involved and interactive. “We don’t have this tall ladder from front line employee all the way up to our managers,” he said. “Everyone is working in the same area and [they’re] on the same team.”
Gibbons also goes the extra mile to ensure staff events are scheduled and employees can do their jobs well while having fun.
Boating Industry invites dealers to apply to be recognized as one of the 2025 Top Dealers in North America. Applications are due September 8, 2025.
Meeting and exceeding rising consumer expectations is no small feat in today’s competitive market. Yet, these challenges have become second nature for professional dealerships, seamlessly woven into their daily operations. They recognize that true success lies not just in selling boats, but in delivering the full promise of the boating lifestyle.
If your company:
- Displays a consistent and clear understanding that the profitability of the organization is directly related to the extent that it focuses on customer satisfaction;
- Provides customers with an experience worth returning for and recommending to others;
- Prepares for future success with sound planning, marketing and training initiatives;
- Ensures an exceptional boating lifestyle…
