Boating not as expensive as you think

In the first quarter of the year, I have many opportunities to talk with potential boat buyers — people who are interested in boats but have not made the final decision to purchase. Those opportunities are the result of producing boat shows and my time striking up conversations with boat show attendees.

What seems to be a common misconception expressed during many of these conversations is that an individual must have a lot of money to purchase a boat — that boating is only for the wealthy.

Unfortunately, the recreational boating industry has been fighting this perception for many years. If someone wants to spend a million bucks on a boat, he or she can do so. The same can be said for many other types of purchases.

If someone wants to buy a mil-lion-dollar house, he or she can do that, as well. But, the fact is, no one has to spend a ton of money on a boat to get on the water to have a good time. There is a boat and a price for everyone.

Most people who decided to start boating did so by purchasing a small boat of some type. It might have been a canoe, an inflatable or a small fishing boat — some-thing that required a small investment. Even today, 95.6 percent of the boats registered in Michigan are smaller than 26 feet, and 50.2 percent are smaller than 16 feet.

What is surprising is the fact that most boats today cost far less than many popular cars and SUVs.

The National Marine Manufacturers Association annually issues statistics that include the unit sales and average retail price of each type of vessel being mass produced today. Here is a sampling of watercraft in the U.S. market as of 2006 (2007 has not been released yet):

■ Outboard motor-boats: average price was $15,758 and 204,200 were sold.

■ Jet boats: average price was $24,443 and 6,200 were sold.

■ Personal water-craft: average price was $9,636 and 82,200 were sold.

■ Inflatable — average price was $1,921 and 25,100 were sold.

I also have drawn the conclusion that some of the people I have spoken with have not taken time to compare the cost of one type of family activity to another or compared it to the cost of boating. I can’t tell you how many times I have heard this statement: “I’m not a boater because it’s too expensive and I spend my money on golf.”

The best Web site to help inform folks about boating is www.discoverboating.com.

If you would like to compare boating to other family recreational choices, go to this site and click on “See How Affordable Boating Can Be.” Then click on “Compare the Costs.” This is referred to as the “budget planner.” Next, choose one of the “family activity” options and the average annual cost for that activity will appear. Once you know the average annual cost of the nonboating activity, you can slide the boat scale on the right side of the page to compare how much money could be borrowed (and, accordingly, the monthly payment) to purchase a new boat for the same amount of money spent on the other activity.

As an example, the average family Disney vacation costs $3,100, $258 per month for one year. For the monthly price of the Disney vacation, a family could purchase a boat for about $35,000, a $315 per month investment over nine years. The family would have the boat for many years of enjoyment, and use the boat as frequently as they would like, instead of spending one sum for a family vacation that is over in one week.

Families don’t usually participate in one type of recreational activity only. More than likely, they spend money on various activities. Using the “bud-get planner” you can combine several activity choices and the total combined investment can be used to purchase a boat.

As an example, if Dad is a golfer and a hunter who also has season NHL hockey and Major League baseball tickets, and takes the family on a Disney vacation, the family would spend approximately $7,075 per year, $590 per month. For $559 per month for 11 years, the same family could purchase a new boat for $75,000.

Hopefully, the messages are clear. Getting out on the water does not have to be an expensive proposition. Reallocating discretionary expenditures from one or several activities to other activities — and I hope that’s boating — can help you gain the value and benefits you and your family are searching for — quality time on a frequent basis with your family and friends, enjoying boating and the variety of water-based activities that you can select.

Whatever investment you make in boating is an investment in quality family fun that will give you and your family years of gratification.

How does boating compare? Pretty darn good!

Van W. Snider Jr., CAE, is president of the Michigan Boating Industries Association. Contact him at (734)261-0123, or boatmichigan@mbia.org. Visit www.mbia.org for more information.