Part 2

Part 2

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  • 9
  • 8
  • We are going to need more aluminum to build boats
  • Prestige
  • 10
  • Prestige
  • The men met with the India president and bought the aluminum they needed, and nothing more, due to the high import tax.
  • 11
  • We are losing so much money
  •     The problem with their dreams is that once demand was up, they wouldn’t be able to meet with supply. The United States didn’t have enough aluminum available so the men were forced to import from India. After realizing the import tax faced upon them, Prestige Worldwide decided it wasn’t worth the expansion and stayed a small company.
  • 7
  • The Bank
  • We need more money!
  •     Prestige Worldwide was succeeding, and flourishing. The company was producing boats at an incredible pace for being the small company it was and was expected to pass up Nautique as the #1 wakeboard boat company in the world. The men were experiencing the peak of the business cycle.
  • 12
  • Prestige Worldwide
  •     Peak’s don’t last forever though, and the men hit the downslide and trough in the upcoming months. Sales were down as the winter months approached and the men were forced to be frugal. The money management skills brought by Brennan were to be in full effect. They talked about their next move while enjoying some juice in the tub.
  •     The men faced their first obstacle when realizing they needed more money. After trying to take out more money, the bank told them no. Derek and Brennan were extremely upset, but Dale explained to them that banks have a reserve requirement and they could try other banks.
  • That is all we can do I am so sorry..
  •     As winter turned to spring, Prestige Worldwide was back on the upswing. Thanks to inflation, the men were able to charge 1.4% more per boat than the year before and each of the three founding members had reached the status of millionaire. Life was perfect and the potential was limitless for the boys of Prestige Worldwide.
  • Thank you for the boat!
  • Prestige
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