
Boat Share Reshaping the Australian Boating Industry
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It’s no surprise the Australia boating landscape is undergoing a significant transformation. While traditional boat ownership remains a cornerstone of the industry, innovative models such as boat sharing, clubs, memberships and syndication are gaining traction.
These alternatives are not just changing how people access the water, they’re creating new opportunities and challenges for the entire boating sector.
This emerging model affecting all sectors from manufacturers to retailers, is forcing businesses to adapt in order to successfully navigate this wave of change.
Boating has a strong tradition in Australia but real or otherwise perceived barriers such as upfront costs, storage concerns, and maintenance responsibilities give second-thoughts to new enthusiasts. Boat sharing and membership models are one method of dismantling these obstacles, somewhat democratising access to the water.
Urban dwellers, who often lack space for boat storage and time for regular maintenance, can find these models particularly attractive. By offering flexible access to a range of vessels without the burden of ownership, boat clubs and sharing platforms are tapping into a significant market segment.
These models also serve as an entry point for those curious about boating but hesitant to commit to a purchase. They allow individuals to sample various boat types and styles, gaining experience and confidence on the water. This ‘try before you buy’ approach has potential to expand the market for boat sales in the long term, should members choose to move from shared to sole ownership.
For the industry, this shift presents both opportunities and challenges. Manufacturers and retailers now need to consider how they engage with these new boaters, potentially developing products and services tailored to the sharing economy. Boats designed for frequent, varied use by multiple operators might become an entirely new product category.
A Rising Tide Lifts All Boats
While some may view boat sharing as a threat to traditional sales models, a closer look reveals possible significant benefits for various sectors of the marine industry.
Brett Bolton at Freedom Boat Club sees the share boating business as creating its own economic ecosystem, saying, “Activation of the marina with increased foot traffic, food and beverage, utilisation of marine trades and other services all leverage off boat sharing. Our operation also cycles its boats every two to three years, so boat manufacturers and dealerships benefit from more product being sold and being in front of the eyeballs of the boating marketplace.” This was an obvious strategy for Brunswick who acquired Freedom Boat Club in 2019. Brunswick now sells its boat models, engines, electronics packages and chandlery items to its franchise network, providing an end-to-end vertically integrated sales solution.
Navigating Towards a Greener Future
The boating industry, like many others, is under increasing pressure to address environmental concerns. Shared boating models do offer a unique opportunity to promote sustainability within the sector. By increasing the usage rate of individual boats, sharing models effectively reduces the carbon footprint per person sharing in the boat. Instead of multiple boats sitting idle for extended periods, a single shared vessel serves numerous people, maximising its use and efficiency.
“Freedom Boat Club has a bespoke online booking portal which simplifies the boat booking process and allows for operational planning and rostering,” said Brett Bolton.
To address some aspects of safety, Freedom Boat Club has also installed ‘Nebo’ boat trackers which provide all of the fleet’s exact location, headings, speed and historic tracks. “This provides enormous safety measures and value add capability for us to provide feedback and information to our members while out on the water,” says Brett Bolton. “It also lets us know if we have time for another coffee before the boats return home from their day out on the water.”
The Course Ahead
The opportunity for increased boat sharing and club models represents a significant opportunity in the Australian boating industry.
For manufacturers, share models do provide a chance to showcase products to a broader audience and potentially develop new lines tailored to the sharing economy. Retailers and dealerships can expand their services by partnering with or establishing their own boat clubs. Marinas and service providers stand to benefit from increased boat usage and the associated demand for their services.
These new models align well with growing consumer trends towards sustainability and experience-based consumption. By embracing and adapting to these changes, the Australian marine industry can ensure its continued relevance and growth in the years to come.
Collaboration between traditional industry players and innovative boat sharing platforms will be key. Working together, a further accessible, sustainable, and vibrant boating culture can benefit businesses and boating enthusiasts alike.
“Share boat concepts can be the incubator sandpit for innovation as boats get used at a far greater rate and are professionally managed,” says Freedom Boat Club’s Brett Bolton. “The changing over to renewables including hybrid and battery technologies for example will greatly benefit from the testing grounds of the share boat companies.”
Ultimately, the boating industry in Australia is not just about selling boats, it’s about selling the boating lifestyle in all its forms. As an industry, the opportunity is to ride this wave and steer towards a more inclusive and sustainable future for Australian boating.
BIA of NSW (extract)
September 2024
by Tim Stackpool