PROFILE
NEIL CHAPMAN
founded Boatshed.com in 1999
Neil Chapman does not have ‘salt in his veins’, as is common with many business leaders in the marine sector, but he does have a work-ethic (engrained since childhood), an entrepreneurial spirit, unfailing optimism, a love of boats (since his mid 20s) and a belief technology can help build the ultimate boat sales platform. With such a powerful combination, it’s no surprise he founded the UK’s first online yacht brokerage, Boatshed. Neil grew up in Penkridge, Staffordshire with three siblings; his father Peter was a GP and with wife Barbara, ran several businesses including a narrowboat building firm. “Even as young children we were expected to help, carrying things and cleaning.” When Neil was 11, his parents sold their businesses and bought an hotel in Shropshire. “When we weren’t at school, all four of us were expected to work in the hotel - washing up, carrying suitcases, ferrying food from the kitchen etc.” Unsure about his future career, Neil studied for a HND in chartered surveying in Bristol and then joined Wolverhampton Borough Council. “I hated it, so went back to the family hotel.” A desire to move away from the family business and prove himself, particularly as there was always friendly sibling rivalry (elder brother Lee was head boy and Neil’s school reports always said ‘could do better’), prompted a boat purchase. “It was 21ft, old and wooden, but to me it was a floating island.” Moored close to Milford Haven, aged 26, Neil discovered a love of sailing and after 26 | DECEMBER 2022
part-exchanging a rebuilt Land Rover, he traded up to a 41ft fibreglass Ketch. “It was in a bad condition, but I did it up and planned to go on a ten month sabbatical.” Shipwrecked Neil set off in October 1996. “I headed for Spain but rolled the boat 360 degrees in a 90 knot wind and 15m sea swell, and was shipwrecked in southern Ireland. Despite this, I was convinced my future career lay in boats.” A chance meeting with the owner of Milford Yacht Agency resulted in Neil buying the brokerage. “I had no idea what was involved, other than putting a photo in a window and waiting for buyers to turn up.” When no one came, and mindful of the distance people would have to travel to view the boats, Neil decided to take photos of the areas sellers don’t usually show; the bilges, internal wiring etc. “I couldn’t afford to print off photos and pay for advertising, so a techie friend helped me set up a website, which I rebranded Boatshed.com, and posted up the images. This was in 1999, so the early days of the internet.”
In his first year Neil sold 118 boats and within 18 months he was approached to sell the Welsh business rights. “I then sailed to Gibraltar, set up the same business model and sold this within a year.” Neil knew Boatshed had a proven, successful business model and asked his accountant to write a franchise agreement. “I sailed back to Portsmouth and decided to base the business in Gosport, our current HQ.” Global brokerage Since then, Boatshed has grown its franchise business and now has 16 head office staff remotely supporting 70+ global brokerages in 18 countries, selling
collectively more than 1,000 boats a year. Its USP is its business model; a combination of technology and people. “We’re totally transparent and share everything people need to know about their potential purchase, and by using Artificial Intelligence, our systems track the behaviour of 1.2m active users, the brands they prefer, models to recommend and when to intervene and contact potential buyers. “But technology can’t replace everything, so we need local people on the ground, to view the boats, take photos, liaise with surveyors and generally facilitate the sale.” During the pandemic
8 Boatshed has 16 head office staff supporting 70+ global brokerages in 18 countries
Neil followed his ‘gas knobs’ principle, which is having the flexibility to turn overheads up or down, according to demand. “I learnt from hotel work, when it’s busy in the summer and quiet in the winter, it’s vital to be able to alter some overheads while keeping the business lynchpins in place.” Unsurprisingly Neil primarily runs Boatshed from his boat and calls himself a ‘Boatshed Ambassador’. When not on his boat, he can be found in campervans in Europe, on the west coast of the USA or at Gosport HQ. Continually upbeat, Neil agrees with his father’s approach to life ‘no matter what the challenge, there’s a way around it’. “It’s about not giving up; if you want something enough you can make it happen.” This, his business model and ethos to ‘be polite, enthusiastic and nice to everyone you meet’ puts Neil in a good place to reach his goal of having a Boatshed in every port. 8 Neil sold 118 boats within his first year of founding Boatshed.com
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