Compiled by Juli Case
Question:I’m applying for a loan and the lender wants me to submit a business plan for my marine shop. How do I find out how many boats are registered in New Jersey so I can provide data on potential customers?
Answer:Boat owners are usually required to register with a state’s Department of Transportation. We contacted the New Jersey DOT and were told that you need to make this sort of request in writing. We weren’t sure if that would be timely enough for your bank loan, so we looked for other sources of information. Discover Boating is a public awareness effort managed by the National Marine Manufacturers Association (NMMA), under the GrowBoating banner, on behalf of the North American recreational boating industry. They list the number of registered boats in New Jersey in 2007 at 183,147.
NMMA has a more complete report available for purchase. However, an older version from 2005 is available on their website at no charge. It lists the number of registered boats in New Jersey in 2005 at 199,106.