Award-winning brand revamped for confident future
Kiwi-owned Fyran Boats, a homegrown East Tamakibased marine industry company that won a design award for one of its boats at the recent Auckland Boat Show, is on the market.
“The company was formed by fishing buddies and sheet-metal workers Trevor Fyfe and Graeme Ranson in 1969,” says Greg Scott, business broker with Bayleys, who is marketing Fyran Boats for sale as a going concern business within leased premises for $795,000.
Scott says the sale price includes a full manufacturing plant including welding and cutting equipment, machinery, stock at trade, all intellectual property including designs, brand name, website and building lease.
“Fyfe and Ransom bought a welding machine and made their first dinghy in a small shed in South Auckland,” he says. “They sold the business in the 1977 but the brand name continues.”
In 1971 they upscaled production and boat size when their first V-hull craft appeared on the New Zealand market.
“Since then the company has continued growing and improving the on-water experience of thousands of fishermen, divers, waterskiers, and recreational users,” Scott says.
“Fyran revolutionised the construction of small trailer runabouts. Until the company came along most smaller alloy boats were riveted. By comparison, Fyran boats were fully welded from a pressed plate.”
Fyran survived the influx of competing brands in the 1980s and 90s and the evolution of fibreglass craft.
“The boats were built on the premise that, top of all, they had to be functional, easy to clean, and could be operated without fear of chipping paint or denting,” Scott says.
“Those fundamentals are still very much at the forefront of buyer demands today, although some degree of user comfort is factored into the equation.
“There is a definite trend towards larger-hulled pleasure vessels, with 6m being the entry level boat for anyone serious about fishing now. It is this fishing fraternity which is responsible for the majority of boat demand in New Zealand, closely followed by those seeking smaller recreational craft capable of towing sea biscuits or wakeboarders and waterskiers.
“In the 5m and 6m-plus hull market Fyran is highly cost-effective and has good margins. Focusing on this sector, the company now has four new models to market.”
Scott says the present owners of the business, who have just invested considerable resources in a complete redesign of most of the boat models, have decided the business does not fit the group’s strategic direction.
“The company, by its own admission, made some unfortunate business decisions over the past few years with its bottom line suffering accordingly. The worst decision was abandoning the Kiwi-made philosophy, which underpinned the reputation of the Fyran brand almost 50 years ago, by sourcing cheaper and inferior parts, trailers and engines out of China,” Scott says.
“These products were of a lower quality and there were significant warranty claims.
“Resources within the Fyran factory were distracted on repair jobs ahead of building boats, not to mention the negative word-of-mouth endorsements that ensued among the boating fraternity.
“The second big mistake was selling directly to the public and undercutting a loyal and extensive Fyran dealership network nationwide. Both these practices have been eliminated in favour of building a high-quality local product working alongside an established dealer net- work.
“The company is returning to its proverbial grassroots — manufacturing wholesome Kiwi fishing and family boats built at a good price and to high quality standards.”
Scott says that under the control of production manager Nick Herd, the Fyran Boats range has been revamped to produce a better finish and more practical craft.
The Fyran 670 Gulf Cruiser model won the all-round 6m to 7m class at the Hutchwilco New Zealand Boat Show in Auckland.
The boat was displayed on the Rogers Boat Shop stand as part of the company’s recommitment to selling boats through a dealership network. The 550 model was also a finalist in the 5m to 6m category.
Scott says Fyran’s Auckland factory has enough staff to produce five boats a fortnight depending on seasonal demand. The production facility has been set up to enable the fabrication of “runs” rather than oneoff builds, allowing for efficient assembly of hulls.
The business employs 14 staff, ranging from welding and fabrication engineers to a production manager and administrative staff.
The company’s manufacturing factory, storage facility, display warehouse, and head office are in East Tamaki.
The company is currently rationalising its nationwide dealership network to Northland, Auckland, Waikato, Coromandel, Taupo, Bay of Plenty, Napier, Gisborne, Wellington, Nelson-Marlborough, Central Otago and Southland.