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FOCUS PSB Executive of the Year 16 • May 23, 2016 • Powersports Business www.PowersportsBusiness.com INDUSTRY LEADER – TIM BUCHE Tim Buche's entrance in the motorcycle industry can be traced to the memorable sound created by the Briggs & Stratton motor on a friend's mini bike. That progressed to a steady interest in being around bikes, which landed Buche a job as a retail sales person at a local dealership. Fast forward a handful or so years, and Buche finds himself steering the highly impactful Motorcycle Industry Council. Under Buche's guidance, the MIC has continued to be a pillar for the industry. From its rock-solid Fall Symposium to its ever-growing Washing- ton, D.C., Fly-In, at which industry members get a firsthand look at how motorcycling is presented to the country's lawmakers, the MIC under Buche's guidance is as effective as it's ever been. Combine the fact that deal- ers can now become members of the MIC, along with the association's recent purchase of AIMExpo, and there's apparently plenty to keep Buche busy in the years ahead. Take, for example, the investment that MIC mem- bers have made into market research in the last four years. From 2012 to 2016, MIC mem- ber companies have tripled their investment in such MIC data. What's more is that Buche has con- currently managed the Specialty Vehicle Institute of America (since 1996) and the Recreational Off-Highway Vehicle Associa- tion (since 2008) as president and CEO. It's Buche's belief that if he and his teams are doing the right thing, the industry will be the ultimate benefactor. It's an approach that's proven fruitful over Buche's two decades at the helm. What is the biggest opportunity for the indus- try, and how can the industry take advantage of it? The significant demographic shifts we have been talking about for the past 10 years at the Annual Communications Symposium and elsewhere represent a tremendous opportunity. I'll refer to a few facts from MIC's research and statistics: The average age of the motorcyclist has increased. The millennial population has just sur- passed the boomers and is now the largest generation. Manufacturers are introducing new and highly updated models while capitalizing on the strong interest in the adventure category, and offer various bikes with enticing affordability. How have these observations played out in our market? Boomers are retiring and have the resources and confidence to invest in new motorcycles. In many instances boomers are trading in or selling one of their current bikes, thus increasing the number of used bikes. Still other boomers are finally getting around to their first experience, realizing that they have missed out on the excitement for far too long. The ratio of used-to-new motorcycle sales has increased. Companies specializing in remarketing used motorcycles make it much easier for dealers to acquire and offer used motorcycles for the younger, or new entrant to motorcycling. The millennial generation is becoming more established as consumers; they are sophisti- cated, well-informed and do a lot of research before making a purchase. Competitive retail finance offers and good credit are the perfect combination for a growing number of buyers. Millennials are the largest generation in the U.S. workforce, and dealers should seek to add more to their team and advance those currently on their team into key positions in sales and marketing. If you expect to pull this generation into your store, start by empowering your staff to present motorcycling to these new entrants through their favored channels. While millennials represent a great oppor- tunity, Gen X and centennials are not to be left out. Gen Xers represent more than 25 percent of all motorcyclists and are the fastest-growing generation for female rider- ship. Centennials are just coming of age and starting to enter the market. Another observation from MIC's research is that most of the nearly 19 million non- owners who rode a motorcycle in 2014 bor- rowed a friend's motorcycle for their ride. Therefore, your current customers may pos- sess the hottest leads. Also note that buyers studied by MIC claimed that test rides were one of the top two factors influencing their decision to purchase their bike. Motorcycle dealers are responsible and committed to great user experiences, and that includes encouraging new and experienced rid- ers to take motorcycle safety training courses. The MSF Basic RiderCourse is the very best first ride. The course helps people determine if motorcycling is right for them, and you can help novices start their adventure the right way. The MSF also offers a variety of courses for cur- rent riders of all skill levels. What has been the biggest challenge in your current position, and how have you dealt with it? Some have remarked that it must be tough hav- ing to report to so many bosses, but I just don't find that to be the case. The Board of Directors of the MIC and our other industry associations stay sharply focused on the needs and desires of our consumers and fellow riders. There is strong support to strategically grow our sport and form of transportation by continuously improving the rider experience. It has long been obvious that the term "industry" should include all those who con- nect with the consumer, and our Dealer Advi- sory Council members have proven to be great advocates and invaluable partners. MIC added a membership category for dealers and retail- ers in 2013. This helps us shape a regulatory environment in which our members can make the kinds of vehicles, products and services customers seek. We all win. When MIC is on-point and we all pull in the right direction, there are no challenges, only opportunities. TIM BUCHE President, Motorcycle Industry Council (MIC) See Buche, Page 19