Potter Performance Engines Closing
 

Ace marine engine man heading to work for Innovation Marine, http://speedonthewater.com/in-the-ne...ngines-closing

Sorry to hear of the closing of Potter Performance. The shop was incredible . Here is a tour: https://youtu.be/juNHKiZIjoY

didn't he start at innovation ? Maybe he just got tired of all the other crap and just wants to build motors.

This is another chapter in the book about center console with outboards taking over inboards.

Not necessarily.

However, many times, it is better being an employee than the employer.Sometimes, not.

I would agree and combined with the sale of the building/equipment being able to pad the retirement nest egg..... Your business model is changing, real estate prices getting back to boom time high and the guy said he is 55.....How many more hot sweaty days in the bilge do you want to have! :D

Notice Tommy from Chief is doing something similar (merger instead but also get rid of the brick and mortar shop/expense in the expensive S Florida zip code).

Good for him!

I was driving down 595 last week and I didnt see the shop. Thought maybe I wasnt paying attention. Thought I read a story about him partnering... Did Tommy move too?

http://speedonthewater.com/in-the-ne...VuZ2luZXMiXQ==

Partnering but all engine building is being done in Michigan


He added that the collaboration between the two companies is more about sharing information and resources rather than changing the way things are done. Before the end of this year all of the engine production, rigging, and service will be moved to Spring Lake.

Smart guys being discussed here. They know enough about their expertise, where the industry is headed and real estate decisions to take pride from the equation and benefit from it.

I hope it works for all parties.

I hear that try running a full blown boat dealership and in 5 years of straight drought and then one year of extreme flooding - Talk about making the landlord rich in any major market area. To do anything with boats requires huge property footage plus all of that maintaining on top off.

So I will agree with the real estate end of things 100 %. It is way overpriced especially when retail consumers buy parts off the net anyways. Marine storefronts and marine engine builders are becoming less and less ever year and the ones around are making less and less if they do not own their own land & building that is paid for.

I bet if they had a parts selling end of things on top of - that ended up not worth stocking any of it currently. Harder than hell to sell marine parts to retail consumers. 9 out of 10 buyers do not buy from a standing boat store or a marine engine builder for their parts.

I have a friend with a retail service business with a flex space warehouse. His plan at retirement is to sell the business to whoever can write the check and then sell the warehouse for 300-350K (whatever it is worth at the time). He fully expects the real estate to exceed the business value by double. If he can walk out the door with 500K towards retirement he thinks that is a pretty good plan!

He bought the real estate years ago (for significantly less) but realizes that whoever buys the business won't be able to afford market rents at that shop so his "separate sale plan" came into play.