And that’s where things get tricky for Fountain, because he needs to raise capital—roughly $5 million—for a new boat company at a time when capital for such ventures is scarce. Fountain freely admits that securing funding is his largest hurdle at this point, and one that he might not be able to overcome.
“If I can’t raise enough money, I’ll do service work and custom work,” said Fountain. “We’re in the best position in the world to service Fountain boats. We built all of them. If I can’t raise the money and if the economy doesn’t cooperate, that’s what we’ll do.”
One more question that’s nagged me since I started following this story: Why is Fountain—at age 71 with capital lacking and a less-than-robust performance-boat market in front of him—even bothering?
“First, I like building boats,” Fountain said. “Second, I hate getting beat. I try not to get mad. I try to get even.
“Is the marine industry good to get into now?” he continued. “No. Then why would I get back into it? Because I’m good at it.”