The Health of our Industry

Hi, Thanks for your interest.

I am sitting here, at the start of a degree in naval architecture, wondering just how healthy the boat design facet of the marine industry is right now.

Any thoughts; predictions for our future?

 

There are jobs for people with good qualifications in boat design, though you should be prepared to travel for the best jobs. Look toward the commercial side of the industry if you want more job security. This is not a business where you will make a fortune, and my best advice is to let others take any financial risk!

 

Thanks for your reply.

David, thanks for your input.

Your views are interesting, especially your opinion on financial risk. May I ask in which sector of the industry you preside?

 

Small fortune

As the boating industry joke goes; "Q. How do you make a small fortune in the marine industry? A. Start with a large one"

Or; "A syndicate of three men, an accountant, a lawyer and a boatbuilder, win the jackpot in the lottery, when asked what they are going to do with the winnings, the accountant said he was going to invest it in gold (I am trying to avoid stocks here!), the lawyer said he was going to invest it in commercial property, the boatbuilder said he was going to put it into the boatyard until it ran out."

The point I am trying to make is that there are plenty of successful people from other industries who think that they can be equally successful in the boat business, invariably they are not, and leave wounded.

The smart money learns a skill, that allows you to earn a reasonable living at what they enjoy, without digging into their pocket.

 

As our teacher at the Landing School told us the first day of class:
1) If you want to own a boat, you are in the wrong class. Boat designers can't afford boats. (So far, he was right!)
2) If you want to make a small fortune in the boat biz, start with a large one. (The joke has been around for years!)
3) You'll go broke with the nicest people in the world!(I haven't proven this yet, but I am about to start my own design business....so give me a little more time!)

I always advise people to stay out of the boat biz unless you absolutely can't imagine doing anything else...eat, sleep and drink boats. It also helps if mom and dad have a large inheritance waiting for you (or better yet, a trust fund )

If your goal is like mine, to design small, relatively inexpensive boats, find a wealthy wife (stupid me, I married someone I loved). If you like the challenge of designing large yachts, you'll probably be better off. The production companies, at least here in the states, are pretty much killing the smaller end of the custom market. Most people seem to be more than happy to buy off-the-rack.

Good luck, David is probably right about the commercial side offering more stability. But, then again, it may be more fun to go broke with the nicest people in the world!