How Sea Ray United Dealers & Launched MarineMax Public | Chuck Cashman on Yachting USA

🎥 May 22, 2025 📺 Yachting International Radio ⏱ 0m 👁 1088 views

Chuck Cashman, Chief Revenue Officer at MarineMax, shares how five major Sea Ray dealers came together with one goal: ...

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About Charles Cashman

Chuck Cashman, Executive Vice President and Chief Revenue Officer at MarineMax, has appeared on several podcasts in 2024 and 2025 to discuss the company's history, strategy, and the broader boating industry. On the Yachting USA podcast, Cashman described how MarineMax was formed roughly 33 years ago when five Sea Ray dealers, with a combined revenue of about $220 million, came together with the goal of providing a better customer experience and team opportunities. He noted that Sea Ray has remained a common thread through subsequent acquisitions. Cashman also discussed MarineMax's expansion into marinas, stating that after lessons learned from a recession, the company began seeking dealerships with storage to provide insulation during cyclical downturns, and later began acquiring standalone marinas under CEO Brett McGill. He commented on Blackstone's acquisition of a marina portfolio, expressing optimism that the infrastructure division views marinas as long-term assets similar to ports and airports. In other appearances, Cashman discussed workforce challenges in the marine industry, stating that a lack of vocational programs and apprenticeships creates a weak pathway for youth not bound for college. He expressed a desire to see boat building return to the United States. Cashman also shared his personal experience with Dockmate, a remote boat control system, describing it as a "game changer" that allowed him to single-handedly move his boat from its slip)Skip, giving his family an extra day on the water. He has also promoted the ElectroStrainer, a marine growth prevention system, calling it a "cheap insurance policy" for air conditioning systems and noting that MarineMax offers it as a dealer standard option. On the Luxury Item podcast, Cashman noted that the average age of superyacht owners has dropped by about 10 years over the past two decades and that interest in alternative propulsion is growing, though adoption is slower than expected due to range and speed limitations.

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Transcript (1 segments)

Charles Cashman0:00

The idea was to provide a better experience to the customer. It was let's provide opportunities for the team, which I can tell you sitting here 30, almost 33 years later, it provided incredible opportunities, but it provides a better experience for the customer. I'll explain how. We were basically five CRA dealers, but CRA was the common brand read through it all, and there was enough critical mass at the time. We were somewhere around $220 million, so not a very big company, but at that time big enough, and it was just big enough to go public when you think about it. You have to have a big enough company. CRA provided enough business for those companies to form together, and then through the years we've had a number of acquisitions. All of the dealerships we acquired primarily had CRA as their main brand, and there were other brands that came in and out, but it has been a common thread, and today it still is. If it isn't our largest brand, it's right up at the top.