MANATEE — Boat companies based along Florida’s Gulf Coast are gearing up for a trip to the Persian Gulf.
Three local boat companies are heading to the Middle East to market their inventory and portfolios in a region they say is well on its way to becoming a profitable market. And the state is helping pay their way.
While Florida may still be the boating industry’s most successful state, economic conditions have significantly weakened the business sector nationwide. To help gain international exposure and tap into a healthier market, Galati Yacht Sales, Rivolta Yacht Sales and R&R Associates will attend the Dubai International Boat Show in March.
“Our understanding is it’s becoming a playground area for the boating industry,” said Joe Galati, co-owner of Galati Yacht Sales in Anna Maria. “Obviously, we’re looking at gaining market share in anyway possible. This is certainly an opportunity to sell a few extra boats we would not normally sell if we did not attend.”
Last year, Galati Yacht Sales paid its own way to attend the Dubai International Boat Show. This year, the three boat companies are sharing a $60,000 state grant to help pay expenses to attend the 17th annual show.
The Economic Development Councils of Manatee and Sarasota counties’ secured the grant through Enterprise Florida, a public-private partnership devoted to statewide economic development.
Mireya Eavey, workforce and project manager for the Sarasota EDC, said the grant was a perfect fit for local boating companies because Enterprise Florida reserved the funds to be used toward international business growth.
“The boating industry is very important to our state,” Eavey said. “We want to help our businesses expand into international markets so it can help to expand our economy locally.
R&R Associates, a design and engineering firm for boat products, is using the boat show to unveil 10 new boat designs.
“They’re totally going to be out of this world,” said Leo Riza, president of R&R Associates in Sarasota.
Riza is hoping the trip to Dubai will help R&R Associates recruit at least 10 new clients that may be both large companies and individuals.
“We want to get to a point where we can have a year and a half to two years of back log,” Riza said.
Brian Franc, a certified professional yacht broker, will represent Galati Yacht Sales in Dubai.
While Galati’s boats won’t travel overseas, Franc will bring a portfolio of photographs of pre-owned, high quality yachts to market to investors.
The portfolio will include boats from 30 to 115 feet, with prices ranging from $100,000 to the millions.
And you can be sure Franc will remember to tell potential clients Boating Industry Magazine ranked Galati as North America’s No. 1 dealer for the second straight year.
“Our objective is that this is a selling event and also increasing the awareness of Galati Yacht Sales globally to where boating enthusiasts will choose Galati in the future,” Franc said. “The United Arab Emirates is a marketplace that Galati feels we need to expand our business in that particular area.”
Andy Tack, marketing manager for Rivolta Yacht Sales, said his portfolio of yachts will include some of the Sarasota-based company’s most popular models — the Coupe 4.5, Coupe 4.0 and GT 6.5.
“We’re most excited to go there and introduce our product to the market, develop relationships and develop a network of people that we can grow and sell some yachts along the way,” Tack said. “Dubai is definitely a market that has seen some increased wealth over the last decade or so. We’re looking to not only find people who can help us sell our boats but help service our boats.”
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