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Old 04-13-2004, 06:27 PM
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Default Industry standard for boat salesman salary?

Do any of you know what the industry standard is for someone starting a new job in boat sales?

I am assuming that it is a small base, plus commissions.

Please respond if you work in boat sales or know of someone who does.
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Old 04-13-2004, 06:36 PM
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Default RE: Industry standard for boat salesman salary?

Now this is where the boatguy should really shine.
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Old 04-13-2004, 06:52 PM
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Default RE: Industry standard for boat salesman salary?

Seadad-

Who is the "boatguy" you made reference to?

Ed
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Old 04-13-2004, 07:01 PM
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Default RE: Industry standard for boat salesman salary?

Oh boy! Here we go.....
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Old 04-13-2004, 07:06 PM
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Default RE: Industry standard for boat salesman salary?

Should I be "frightened"???

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Old 04-13-2004, 07:30 PM
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Default RE: Industry standard for boat salesman salary?

The boat sales guys I know make $300 a week base and 5% commision on boat sales. This is based on sale of the boat. If the boat has a large profit margin, the sales person makes 10-15 % of the profit
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Old 04-13-2004, 09:03 PM
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Default RE: Industry standard for boat salesman salary?

Puleese let me know where to send my resume for that kind of salary. Man am I being screwed!

Seriously, I'd love to know the answer to this one, and I'd love to know why you asked.
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Old 04-13-2004, 09:25 PM
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Default RE: Industry standard for boat salesman salary?

frightened? nah he's harmless. He spent some time selling bass boats I think. He'll fill you in if he gets on sometime.
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Old 04-13-2004, 09:26 PM
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Default RE: Industry standard for boat salesman salary?

Quote:
Ed Mancini - 4/13/2004 7:52 PM

Seadad- Who is the "boatguy" you made reference to?

Ed
No need to worry . . . 'boatguy' is a character to himself like I am a character to myself . . .
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Old 04-14-2004, 08:54 AM
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Default RE: Industry standard for boat salesman salary?

I sell higher end Semicustom CC's and also trawlers. It is a straight commission setup for both.
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Old 04-14-2004, 08:59 AM
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Default RE: Industry standard for boat salesman salary?

I sold boats briefly at 10 percent of the profit plus a 7.25 an hour wage.
Fine if you sell boats, horrible if you don't.
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Old 04-14-2004, 09:04 AM
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Default RE: Industry standard for boat salesman salary?

"10 percent of the profit plus a 7.25 an hour wage"

Selling 10 boats per year at $35,000 retail cost plus working full time would yield approximately a $50,000 annual salary. Of course that is a fair number of boats to move in a year and not all salespeople can move that many.
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Old 04-14-2004, 09:15 AM
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Default RE: Industry standard for boat salesman salary?

I sold boats for about five months. Someday when I retire and, have my pension rolling I'll do it again. I was paid 20% comission based on profit, after the dealer's expenses. Of course, seemed like after the boat left the rigging shop, there was no profit left. Be careful.
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Old 04-14-2004, 09:16 AM
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Default RE: Industry standard for boat salesman salary?

I have worked at a few large dealership/brokerage companies and the compensation schedule was the same at each, and is close to the same at most other large dealerships according to my peers there.*

Straight commission, if you are lucky you can get a draw but don't count on it, about half the companies will cover your health insurance but don't cout on it, and you will earn approx 20-25% of the net profit.*

Let me break this down for you - if you sell a boat that retails for $100K, the buyer will probably end up paying about $85K, which means there is approx $15K in gross profit.* Figure in floor plan costs, cleaning, fuel, insurance and storage and the net profit may end up being only $10,000.* You end up making $2000 - $2500 before taxes.*



An outstanding boat salesman might sell*20 of these boats a year.* You do the math.* The average boat salesman, will sell about 10, the new guy will be lucky to do 4 in the first year.*

If your dealership sells bigger boats you can pop one or two of them a year to increase your income, and if they sell much smaller boats you can pop a bunch of them a year to increase your income.*

My first year in boat sales I made $9,000, and I was hardly the exception.*

If you are thinking about getting into boat sales listen to this advice:* find a dealer that has high production brands, ie. Sea Ray.* Find a dealer that stocks a LOT of boats. They are much easier to sell when the customer can take delivery asap.* If you accomplish those two things you should have no problem selling boats.
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Old 04-14-2004, 09:40 AM
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Default RE: Industry standard for boat salesman salary?

I suspect its alot like the realestate business ......
When I got my NC LIC.... only about 15% of those people
where even "around" the business 4 years later. And
that includes people who moved over to mortgage financing
or home inspections...etc... I myself spent almost 2 years
selling then was offered an internal mgt position with the
company I worked for in Raleigh......
It was a tough business to break into... and even harder to
stay the long course.... in my office as a new salesman
we had 35 agents...of which 5 were men..... MOST of the women
were NOT THE primary source of income in their families thus
why I think in many cases women can do well at that business.
One of our men was retired guy.. and the rest of us did other
things on the side.....hell myfirst year i closed 1.4 million is sales
and BEFORE expenses made just over 20grand....
But I digress... I suspect for every 10 NEW boat salesman..than
only a few of those will be left after a couple years.... just seems
like a very tough business.
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Old 04-14-2004, 12:59 PM
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Default RE: Industry standard for boat salesman salary?

In addition to a low base salary, one of the "large nationwide boat dealers" pays 2% of the selling price unless they drop (negotiate) lower than a pre-determined price, then the commission drops to 1% of the selling price. Their motto is "the more they pay, the more we make!". Also, the 80%/20% rule applies in the marine business.
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Old 04-14-2004, 01:12 PM
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Default RE: Industry standard for boat salesman salary?

I'm going to invent a new career that is the opposite of a boat salesman. It will be called a "boat buysman". In this career, your clients will pay you a percentage to go out and spend their money. All they have to do is give you a list of criteria and a blank check.....

Who want's in ???
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Old 04-14-2004, 01:19 PM
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Default RE: Industry standard for boat salesman salary?

It's already being done. they're called Brokers
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Old 04-14-2004, 01:20 PM
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Default RE: Industry standard for boat salesman salary?

Brian - I'm in man!
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Old 04-14-2004, 01:54 PM
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Default RE: Industry standard for boat salesman salary?

Thank you all for your insightful feedback.

Ed
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