DEDICATED MARINE | Application Preview
DEDICATED MARINE is seeking government grants to support their expansion into the RV market by adding canvas products to their line. The company plans to bring Welding and Canvas production in-house to enhance profitability.
The business operates in the rapidly growing solar segment of the marine industry and seeks to leverage that momentum for entry into the RV sector. With a management team boasting over 30 years of marine experience and 20 years in finance and marketing, DEDICATED MARINE is well-positioned for success. They emphasize the potential for in-house manufacturing to improve competitiveness and profitability, particularly in relation to solar and green solutions, which aligns with possible grant opportunities.
In terms of competition, clients currently face a choice between relying on costly motors/generators or choosing from competitors like Just Catamarans and Multi-Tek. Just Catamarans, lacking the necessary molds for fiberglass hardtops, has higher custom rates. Multi-Tek, while an established dealer, struggles with quality and pricing issues. DEDICATED MARINE's competitive advantage lies in its strong reputation, high product quality, and ownership of specialized tooling that allows for tailored production for specific boat models.
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General Information
Business Registration Number: 27-3250808
Location: Lighthouse Point, FL, United States
Length of Operation: 11plus
Number of Employees: 1-10 Employees
Annual Gross Income: $1M to $10M
Annual Gross Expense: $500k to $1M
Open to Loans: YES
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Funding Usage
We would like to expand our product line into the RV market and provide canvas as part of our product line. We need to take Welding & Canvas in-house to be profitable.
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Business Plan
We are already in a high growth area in the Marine Industry: Solar. We would like to expand into the RV market with our product line. We are a capable management team with over 30 years experience in the Marine Industry and 20+ years in Finance & Marketing. We recognize that we are a niche business but a growing part of a niche industry. We believe that investing the right amount of capital into taking parts of our manufacturing process in-house, we can become more profitable and be a healthy investment for interested parties. If there is a grant available with respect to Solar and/or Green Solutions, we think that could be a good fit as well.
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Self Identified Competition
Clients may choose to: a) do nothing and rely on motors/generators for their power. This choice winds up being more expensive for them in the long-term. b) Just Catamarans is a South Florida repair and aftermarket facility. They do not have the molds for the Fiberglass Hardtops for Solar that we do so their prices will be based on Custom Rates (more expensive). We compete on another Solar product; we believe that if we brought the Welding in-house, we could be more competitive. c) Multi-Tek is an authorized parts dealer for several boats. They suffer from a quality and over-pricing issue. Their strength is their longstanding relationships with manufacturers which gives them warranty work. We have a very good reputation based on the Owner's lifelong experience in the boating industry and relationships earned with clients. The quality of our products is very high and we own the tooling to be able to produce for specific models of boats at a production level.
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