Issue link: https://read.dmtmag.com/i/459961
26 | Boating Industry | February 2015 [ Building profi ts through export ] www.BoatingIndustry.com our business worldwide, so we have developed an aggressive growth strategy to meet that goal." Advantages of exporting There are an enormous number of incentives for a company to export at least some of its produc- tion run. For some companies, the primary driver is the opportunity to grow their overall market share. If you already own a sizeable chunk of the domestic market, it can be cheaper and more rewarding to take your products abroad, rather than fi ght tooth-and-nail for an extra one-half percent of share at home. "We made a concerted effort over the last fi ve or six years to look into markets abroad," said Mick Webber, president and CEO at Hy- droHoist Boat Lifts. "We felt there was a level of market saturation and we knew there is a strong demand for U.S. marine-related products outside of the U.S. We're selling in 22 countries now, including Europe, the Middle East and we now have a joint venture in Australia that also serves New Zealand. We are optimistic about what we see happening overseas, and we've begun manufacturing product specifi cally for our export business." What particularly interests Webber is the growth potential of overseas markets. "Right now our export business represents about 20 percent of our overall business," he said. "Our goal is to have that grow to closer to 50 percent and we have an aggressive goal of achieving that by 2020." For other companies, exporting represents a way to maximize economies of scale, enabling them to increase production runs and achieve manufacturing effi ciencies that were previously Exhibiting at overseas shows like METS has helped many U.S. companies grow their customer base. "We are optimistic about what we see happening overseas, and we've begun manufacturing product specifi cally for our export business." — Mick Webber, president and CEO at HydroHoist Boat Lifts