Marketing grad takes #yachtlife to a whole new level
Expectations are high this summer. While social events and activities were taken for granted pre-pandemic, everyone is itching to get outside with pandemic restrictions in the rearview mirror. Jeffrey Nham, co-founder of yacht rental business GTA Yachts (external link, opens in new window) , is betting on Toronto clamouring for out-in-the-sun, Instagram-friendly boating trips.
“COVID introduced the city to yachting,” explains Nham, a Ted Rogers School of Management Marketing graduate (BComm, 2019), “for comparison, New York City’s yachting market was there before the pandemic and will continue after. The demand for experiences has only grown.”
What started off as Nham messaging yacht owners on Instagram to coordinate rentals quickly ballooned into a self-funded, bootstrapped pandemic-era business started by two industry outsiders. Nham and GTA Yachts co-founder Issey Abraha found that demand in Toronto for yachts and boating experiences far exceeded supply of available yachts. Summer 2021 was spent expanding the business with the hiring of employees, entering an agreement with Polson Pier and growing those key partnerships with yacht owners. Recreational boating is a word-of-mouth (external link, opens in new window) industry, from owners and brokers to renters and buyers; the city took notice, paving the way for a buzzy interview (external link, opens in new window) with Toronto Life.
“One day, I may be dealing with owners and helping them manage staff, another day might be dealing with customers, or I might be working on social media.” Nham says, describing a day-to-day typical of startup founders who have to wear many hats. “The main business is connecting customers with yacht owners, but there is the management aspect to it as well.”
Navigating the industry as newcomers came with some learning curves; Nham had never stepped foot on a yacht before starting his business. Media interest in the pandemic yacht boom (external link, opens in new window) only highlights how recreational boating historically favours white boat owners. Both Nham and his partner started out as outsiders not only from an industry perspective, but from their lived experiences as people of colour. “We stick out a lot — we are in an industry that is 99% white people. When we’re at the marinas,” he adds, “we’re the only two people of colour outside.”
While he started as a newcomer, Nham quickly realized his background in marketing separated him from other professionals in the industry. After completing his Marketing Management degree at the Ted Rogers School, he worked marketing for other businesses, describing it as the “strongest skill” he brought to the table as a startup co-founder.
“I also double minored in Economics and Entrepreneurship. Not only did we have classes that broke down the science of entrepreneurship, but there was one class where we would study entrepreneurs and compare their skill sets” he says, describing courses like ENT 526: Entrepreneurial Behaviour and Strategy that had an impact on him as a future co-founder.
Nham was one of many Ted Rogers School students who took their learning outside of the classroom to further develop their skill sets and develop as early-career professionals. “The extracurricular activities played a huge part in my experience and my growth as a person. I was in DECA, which gave me real life examples which made me savvy to entrepreneurship. I was also a frosh leader, which helped me develop leadership and social skills.”
Nham credits extracurriculars with helping build a sense of community and future networking opportunities among Ted Rogers School students — connections that continue well after graduation. “It’s funny because we had one interaction,” explains Nham of how he came to meet a fellow alum and future employee. “I met him outside of class years ago, he was building an app. A few months back, I updated my LinkedIn profile (external link, opens in new window) and he messaged to congratulate me. I told him about the business and where we’re looking to go. We met up in person and now he’s on board.”
#yachtlife (external link, opens in new window) is real, and it’s growing. With a plan to build a GTA Yachts app and expand the business across Canada, Nham is just getting started.
