Jeff Strong of Strong’s Marine has seen economic discord before. His company has a track record of weathering the economic highs and lows since his grandfather went into business in 1945, leading to the establishment of Strong’s Marine on Long Island, N.Y., in 1965. Since 1992, Strong and his family have grown the business, which has 12 locations and more than 100 full-time employees offering seven boat brands, preowned boats, brokerage services, indoor storage and repairs, with hauling capabilities of 85 tons. He spoke with Trade Only Today about the tariff turmoil.
Which imported brands does your dealership carry, and how are you looking at possible tariffs on these imports?
We distribute Fairline Yachts which are built in the U.K. We are working closely with our manufacturer to minimize pricing impacts to our customers. This is a combined effort by Strong’s and Fairline.
Are there other products that you carry that are affected by tariffs?
Most U.S. manufacturers purchase some of their supplies or specific parts from outside the U.S.A. Thankfully, this does not represent a large percentage of the overall build price. Our manufacturers are very in tune with our dealer needs and taking steps to minimize any price increases and maximize value for our clients.
How are you strategically managing the situation?
We have been through roller coaster rides before. Some clients will look at this as a buying opportunity and realize that time on the water with their friends and family is exactly what they need more than ever during these times.
You have a long history of industry advocacy as former chair of the MRAA. What industry partners are you relying on to help see your company through?
We have very long and meaningful relationships with the MRAA, NMMA, our banks and boat and engine manufacturers. Constant, collaborative communication to support each other is paramount while, at the same time, being agile to take advantage of any opportunities we can create.
What is your advice to other dealers?
Communicate with your team, clients and vendors on a very consistent basis. We are being sure we are doing everything in our power to have delighted employees and clients who are raving fans of our boating lifestyle and its high importance for family values.
What do you believe the tariff hikes will do to boatbuilders?
I believe our manufacturers understand the very high importance of keeping retail sales going at a good pace. As a result, they will be working as diligently as possible to minimize price increases as a result of tariffs. Dealers will be doing the same.
What is your advice to potential boat buyers?
Understand the calming effect the boating lifestyle has on them and their families. There will always be highs and lows in the stock market, but memories made while boating will never be forgotten.
How do you see the situation resolving and in what timeframe?
I believe tariff negotiations will be ongoing for the next several months. Ultimately, market forces will dictate a fair and balanced outcome for all. It will also drive more innovation in the U.S.A., which is always healthy.
