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Growing Steadily In A Tough Boat Building Market

Growing Steadily In A Tough Boat Building Market
Managing Director for Silverwaters Fibreglass Boats and Products, Frank Hamagushi, inside the new 36 ft monohull Fibreglass boat, 36VIWA.
July 15
11:00 2017


Ever heard of someone who started making money without any money?

Doesn’t really make much sense, right?

But that’s how the Managing Director for Silverwaters Fibreglass Boats and Products, Frank Hamagushi described how he started his business.

In fact Mr Hamagushi was once a door to door salesman in Australia – a job that required persistence and consistency. Two values that served him well as he fought to keep his business afloat when he returned home.

“The little money I made as a door to door salesman in Australia was what I used to start my business.”


Monohull Fiberglass Boat

Yesterday the Silverwaters team launched their first 36 ft monohull fiberglass boat, 36VIWA.

The 30 seater boat has been acquired by the popular TV Series, Survivor.  At a price of over $100,000, the purchase was one of the few ‘big buys’ for the company.

For the Ovea, Tailevu villager though, it’s not only about making money.

The business venture provides employment opportunities for close to 20 people in the area.

After two to three months of training and exams, workers can then work full-time for 40 hours a week.

The boat shed is located at Bau Landing.


How It All Started

Since the company started six years, the first three years was just about learning how to build a boat.

Mr Hamagushi did not have an inkling of how to build one.

So he turned to other people for ideas. But most of his time was spent on his smart-phone.

Holding up his phone with its visibly shattered screen he said, “These gadgets are very useful, it is a powerful tool with so much information.”

“I did not learn to build a fiberglass boat from aUniversity or school.

“I learnt it from YouTube.”


Time Wasters

Mr Hamaguchi said people waste so much energy and time on Facebook, listening to song remixes and watching rugby replays.

“How about focusing your energy on things that makes you grow, instead of Facebook. Try and learn something new. Everything you want to know is in that small gadget you have.

“You can create things, little things that apply to everything.

“You need to Invest in your time.”


Steady Growth

When the business started along with fierce competition in the market, Mr Hamagushi normally received one boat order after every six months.

“We incurred losses after losses, but I did not give up.

“I think the biggest loss is trying to educate people that many would have given up, but we’ve been consistently pushing the business.

“It has been a tough journey.”

Without a bank loan to help with the business start-up, the company has survived on stringent measures.

Established companies like Asco Motors stepped in and was like a lifeline for the business.

“They knew that we didn’t have anything, so they came in and they pushed us forward. That is how our products started going out to the islands and the market.”

Today Silverwaters also deliver products for Vinod Patel and Courts customers.

Waisiliva Babas rugby club is another arm of the Silverwaters Fibreglass Boat company.



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