BOATING INDUSTRY ELEVATE SUMMIT DIRECTOR , DAVID GEE
RIVERSIDE MARINE
ESSEX , MARYLAND
According to most data , only around 30 % of family-owned businesses survive to the second generation . And only 12 % make it to the third generation . So , congrats to Riverside Marine , a family business that began in 1976 , beating the odds and showing no signs of slowing down with their third generation now at the helm . And marking a year that saw them move from # 10 to # 6 in the Boating Industry Top 100 rankings .
Riverside Marine Inc . is located on the upper Chesapeake Bay , in Essex , Maryland , just north of Baltimore City . The company was incorporated in 1974 , and it was purchased in 1976 by Bob and Lavinia Baumgartner , the parents of the current owners .
Today ’ s owners are David Baumgartner , Trudy Jefferson and Michael Baumgartner . They have extensive knowledge and experience in boating and have worked at the business since it began .
The original marina was just under two acres when purchased . Over the years several adjacent properties have been purchased and rezoned , a multi-million dollar renovation project was completed in 2021 and now the property is over double in size .
Their goal is always to continue what Bob and Lavinia set out to do nearly five decades ago . And that is to have fun . Be brand loyal . Always strive to exceed people ’ s expectations . And introduce as many people as possible to the boating lifestyle .
President David Baumgartner says all family members are welcome to work at the business . As they mature , they need to work through the employee ranks to earn management positions as they become available .
“ Job positions and promotions are earned , not given because of their last name ,” stated David in his Top 100 application . “ When possible , we have them work in different departments to be cross trained , so they understand all aspects of the business and can become Riverside ’ s future leaders .”
At the recent Boating Industry Elevate Summit Conference that preceded the Top 100 gala event , attendees heard from keynote speaker Jay Samit . He is a former Deloitte vice chair and one of the world ’ s leading experts on disruption and innovation .
“ Business as usual is dead ,” stated Samit . “ I believe this is truly a transformative time to be in business , but only if change is embraced .”
Change is constantly on the minds of the leaders of Riverside Marine , and so is continuous improvement .
“ We are always studying the market and understand that current trends and habits have radically changed from the past , and are still changing ,” stated David . “ From all of our years of experience , we know and understand the business , the market , our competitors , and we continue to study them , especially new dealers , and make adjustments to what we do if necessary .”
David added that their collective passion for the boating lifestyle is what drives their continuous improvement to be the best . And that attitude is no doubt what contributed to a 16 % year over year increase in revenue .
“ At the end of a major boat show I was enjoying some down time with the staff when the owner of another dealership came by , shook my hand , and asked how I was doing . I replied as I always do with the line ‘ living the dream .’ He scoffed and said ‘ come talk to me when you have been in this business for 40 years .’ I truly do not understand that mindset . Yes , there are tough days in the business , but Riverside ’ s culture is to personify the boating lifestyle and deliver a great boating experience to every customer . I love what I do , and my team rallies around that . We sell fun and an experience , not just a boat . Our goal is to get the customer on the water and keep them on the water , so they can create the same positive memories and experiences that we have all enjoyed .”
www . boatingindustry . com february 2025
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