Hindsight is a great thing and I occasionally look back and consider what I could have done better as a yacht broker.
In my case, I learned about yachts by working at the Ferretti Yachts shipyard. First by creating instruction manuals for the smaller flybridge range of Ferrettis, and then later by working in the sales and marketing office of the CRN shipyard, who built Ferretti’s “Custom Line” range of yachts at the time.
When I became a broker in 2006 I can honestly say that NOBODY knew more about Custom Line yachts than I did. And NOBODY had such a great passion for the product.
I went on to sell a number of brokerage Custom Line yachts, and it was a lucrative exercise, but I do sometimes wonder what would have happened if I had focussed solely on this product and established myself as THE broker for used Ferrettis and Custom Lines rather than also chasing after business from other sources.
In all likelihood I would have missed out on some opportunities that I went on to benefit from, but I probably also would have found it easier to develop and retain a client base
Whilst I can’t know what would have happened had I “niched down” on Ferretti Yachts, I have often observed brokers have remarkable success from focussing on one particular product or category. Sometimes the category is not even a product, but rather a group of people. One successful small brokerage firm found great success by networking with folk in the motorsport industry. Others network areas such as Aspen or the Hamptons to integrate themselves with a group of potential buyers and sellers. One extremely successful broker has built his business around specialising in one of the most exclusive (and expensive) of all yachts; FEADSHIP.
Yacht Brokerage is such a fascinating and exhilarating business. I have no regrets from the choices I have made…I just sometimes wish I could do it all over again multiple times to try out different strategies.
If YOU believe you can create a strategy that works for YOU, the Yacht Broker Master Class may be exactly what you need to transform your ideas into a lucrative reality.
David Seal