Today we’d like to introduce you to Andrew Troyer
Hi Andrew, so excited to have you on the platform. So before we get into questions about your work-life, maybe you can bring our readers up to speed on your story and how you got to where you are today?
Growing up in a small town in Northwest Ohio, I was surrounded by cornfields, soybeans, cows, and dairy farms. Most of the year was marked by gray skies and snow-covered landscapes. Selling yachts was not only unheard of but also something you wouldn’t dare mention to the high school guidance counselor. I admired my grandfather, who founded Shinabery Farm Equipment—a man who rose from humble beginnings to build a thriving machinery sales and agriculture business.
In sixth grade, I got my first job delivering newspapers for the Crescent News, braving the elements. Whether it was rain, snow, or sunshine, I would be out on my bike. When I got a moped, I worked Saturdays at Brookfield Farmers, packing boxes and loading meat orders. Later in high school, I worked at Marco’s Pizza, where I was impressed by Mr. Bueter, the owner of several Marco’s franchises in Northwest Ohio. He was young and hardworking, and his success and work ethic left a lasting impression on me.
While none of these jobs felt like long-term careers, they provided a valuable opportunity to observe entrepreneurs like my grandfather, uncles, and Mr. Bueter. Their influence helped instill a strong work ethic and a commitment to honesty and transparency that has shaped my own career.
I began my sales career in my early 20s. Before entering the yacht industry, I held various roles in sales, sales training, and sales management, as well as serving as a site sales manager for a new construction home builder. This experience laid the groundwork for my transition to becoming a yacht broker. I started selling yachts in Destin, Florida, famously known as the “world’s luckiest fishing village.” My first boat deal was approximately $6,000 to $7,000. Over the years, I subcontracted with renowned brands and shipyards, including United Yacht Sales, Ferretti Group, Allied Marine, and most recently, the Washington-based Westport Yachts. Now, with nearly two decades of yacht sales experience, I have been fortunate to participate in new construction builds, sell some of the finest yachts available, and collaborate with incredible entrepreneurs, business owners, and wonderful families from around the world.
Can you talk to us a bit about the challenges and lessons you’ve learned along the way. Looking back would you say it’s been easy or smooth in retrospect?
The Great Recession (2007/2009)
Looking back, 2006 was likely one of the worst times to enter yacht sales. The market was at its peak but soon began to cool, leading to the collapse of the U.S. housing market. During this period, we had no clear sense of where the market bottom was for yachts, so we would simply drop prices until a buyer appeared. I remember a client calling to ask what he needed to do to sell his yacht. When I provided him with the information, he erupted in anger and hung up. The next day, he called back, instructing me to sell the boat for any price I could get.
Deepwater Horizon / BP Oil Spill:
On April 20, 2010, the Deepwater Horizon oil drilling rig, operating in the Macondo Prospect in the Gulf of Mexico, exploded and sank, resulting in the deaths of 11 workers and causing the largest oil spill in marine drilling history. Over an 87-day period, 4 million barrels of oil flowed from the damaged well before it was capped on July 15, 2010. (Source: EPA – https://www.epa.gov/enforcement/deepwater-horizon-bp-gulf-mexico-oil-spill)
When the BP oil spill occurred, we had offices in Pensacola and Panama City, Florida. Suddenly, the phone stopped ringing with new leads. Clients were relocating their boats out of the area, distressed about the potential damage to fish and other marine life, and uncertain about the future of their communities. We were forced to close a newly renovated office at Bay Point Marina, and ultimately, our claims to BP were denied.
COVID:
In 2020, COVID-19 became a major disruption for our business. At the time, I was contracted with Westport Yachts in Washington state, where the yard faced significant challenges in building boats due to restrictions. Surprisingly, brokerage sales began to pick up in the summer of 2020, with boats selling in record numbers.
Industry Challenges:
In addition to recessions, oil spills, and COVID lockdowns, one of the most significant challenges I have faced throughout my career has been keeping my clients out of the deep end of the pool. There are numerous pitfalls that can be avoided, and we work diligently to ensure our clients achieve the best possible outcomes.
Appreciate you sharing that. What should we know about Troyer Yachts?
I specialize in building strong, long-term, and transparent relationships. I conduct my transactions in a fiduciary manner, covering yacht sales, including brokerage and new construction, as well as superyacht charter vacations. We genuinely care, and when asked for our input, we draw on nearly two decades of experience to achieve positive outcomes. My approach is known for being straightforward and rooted in Midwestern values, prioritizing my clients and their needs over profit. My focus is on achieving positive results.
I truly enjoy the creative aspects of yacht construction. Bringing a design to life and witnessing its impact on the community surrounding the shipyard, as well as the satisfaction of the owner taking delivery of their dream yacht, is incredibly rewarding. For many, this represents the culmination of a lifelong aspiration. From an industry perspective, new construction yachts are vital, generating hundreds of jobs across various sectors, including insurance, mechanics, HVAC, crew, shipyards, and audio-visual services, to name just a few. I believe that yacht ownership, particularly yacht building, is one of the ultimate philanthropic acts.
What am I most proud of brand-wise?
Candidly, some of the proudest moments I’ve had pertaining to amazing yacht builds or sales-I can’t disclose. For example, a superyacht build that the owner’s attorney requires a non-disclosure to sign or a yacht deal that is quietly sold “off market”. From the perspective of a business owner, it’s painful not to be able to promote successful transactions, but the need for discretion on behalf of the buyer or seller simply outweighs my need for promotion. So, when a non-disclosure is signed, it is honored.
What should our readers know about your brand services offerings etc?
We offer a personalized, one-on-one approach. We want to understand your goals, plans, and any existing programs you may have so we can help create a tailored program that meets your needs. Our aim is to make this experience enjoyable! Yachting is supposed to be fun!
Risk taking is a topic that people have widely differing views on – we’d love to hear your thoughts.
Risk-taking in business is a crucial component of innovation and growth. It involves stepping out of comfort zones and embracing uncertainty to explore new opportunities, whether through launching a groundbreaking product, entering a new market, or adopting a novel business model. Successful entrepreneurs understand that calculated risks can lead to significant rewards, driving competitive advantage and fostering a culture of creativity. However, it is essential to assess potential risks carefully, weigh the pros and cons, and develop strategies to mitigate potential downsides. Ultimately, risk-taking can be a double-edged sword; while it has the power to propel a business forward, it also requires resilience and adaptability to navigate the challenges that may arise.
Contact Info:
- Website: https://www.troyeryachts.com
- Instagram: @iamandrewtroyer @troyeryachts
- Facebook: https://www.facebook.com/WestportYachtBroker/
- Twitter: @theyachtguy
- Other: https://www.facebook.com/andrewdtroyer
