Brunswick announces its financial investment in Boatbound’s latest funding round
LAKE FOREST, Ill., March 26, 2014 – Brunswick Corporation (NYSE: BC) announced today the launch of a strategic partnership with San Francisco-based Boatbound, the leader in the peer-to-peer boat rental market space. The peer-to-peer model creates a new way to easily connect potential renters with owners willing to rent their assets, and is quickly gaining traction in the boating space.
(Read our story about peer-to-peer rentals)
This Brunswick and Boatbound partnership is based on the common belief that the peer-to-peer boat rental model encourages boating participation and trial, while at the same time allowing boat owners to offset some of their ownership costs. This partnership with Boatbound offers Brunswick a way to more closely monitor and observe developing trends in the consumer boating market. It also provides Brunswick’s dealers, through the Brunswick Dealer Advantage dealer services program, potential income from renting boat inventory and access to an emerging segment of boating consumers. In addition to the strategic partnership, Brunswick is making an undisclosed lead investment in Boatbound’s latest financing round.
“The long-term health of our industry requires us to make boating even more accessible and affordable, especially among younger, aspiring boaters,” said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. “Boatbound offers an innovative way to provide those interested in boating with actual boating experiences, which we believe will translate to boat ownership down the road. Additionally, Boatbound’s business model provides rental income opportunities to current boat owners who also gain access to boat rentals when away from home.”
“We are very pleased to join forces with Brunswick, the top manufacturer in the marine industry, to lead the way in serving millions of aspiring and present boaters interested in a convenient, reliable and affordable way to experience boating,” said Boatbound founder and CEO Aaron Hall. “The online peer-to-peer market concept is already making successful inroads into the travel, hotel and auto-rental industries. Both Brunswick and Boatbound see the boating industry as a natural next step and look forward to realizing this vision.”
Through this partnership, Boatbound gains important growth resources and support from Brunswick, the world’s foremost recreational marine manufacturer, whose leading marine brands are represented in over 4,300 sales and service outlets in North America. Boatbound initial efforts are focused on the Miami and San Francisco markets. Additional markets will be added as Boatbound expands throughout 2014.
The Boatbound service allows both dealers and boat owners to list their boats for rent to pre-screened, qualified renters. Boatbound’s easy-to-navigate online application offers transparency and convenience with no listing or sign-up fees for either owners or renters. As part of their comprehensive rental service, Boatbound provides insurance, towing protection and extensive customer service support.
Owners have full control over who rents their boat, as well as the rental price, availability and conditions of their listing. Renters will be able to choose from a wide selection of boat types and price ranges in an increasing number of boating markets across the United States. After each rental, both the boat owner and renter review each other to provide feedback that can be viewed on their Boatbound profiles by future owners and renters.
For more information please contact Brunswick through Brunswick Dealer Advantage at 1-877-462-3884 or by visiting www.brunswickdealeradvantage.com. The Boatbound team can be contacted through their website at www.Boatbound.co.
Headquartered in Lake Forest, Ill., Brunswick Corporation endeavors to instill “Genuine Ingenuity”(TM) in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood marine parts and accessories; Land ‘N’ Sea, Kellogg Marine, and Diversified Marine parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris FloteBote, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray, Uttern and Valiant boats; Life Fitness and Hammer Strength fitness equipment; Brunswick bowling centers, equipment and consumer products; Brunswick billiards tables and table tennis. For more information, visit http://www.brunswick.com
Boatbound™, the nation’s fastest growing boat rental marketplace, gives the over 13 million registered boat owners a way to offset their ownership costs by renting their boat to pre-screened, qualified renters. Every rental includes up to $1 million in liability protection from one of the most trusted insurers in the world, as well as on the water towing and support from Boat U.S. Whether you are looking for a boat for watersports or cruising, a fishing boat to explore a local fishing hole, or a sailboat to leisurely set sail, Boatbound creates safe and unique boat rental experiences at any price. Boatbound is free to join and has no monthly or membership fees.
This article was syndicated from BLUE PLANET TIMES