CEO Scott Porter explains how family-owned manufacturer Formula Boats has propelled itself to the top
Since 1956, family-owned and managed Formula Boats (Formula) has been powering the premium powerboat manufacturing industry with exquisite craftmanship and exceptional customer care. Over the years, the company name has been synonymous with beautiful designs, unmatched quality and extraordinary attention to detail as it pursues its mission to deliver ‘the ultimate fun and safe boating experience that brings family and friends closer together’.
Manufacturing Today recently sat down with Scott Porter, Chief Executive Officer at Formula Boats, to learn more about the business’ journey to success.
“The Porter Family has owned the company since April of 1976,” Scott begins. “The boats are built by Thunderbird Products, a Porter Inc company which is 100 percent family owned and managed in Decatur, Indiana. Actively involved in the company structure are five second generation family members and six third generation family members.
“All manufacturing operations of Formula Boats occur on the Formula Campus in a facility that measures 575,000 square feet. Each boat is highly crafted, however, where possible, computer-aided machines cut fiberglass, structural foams, cabinet pieces, bulkheads, and other reinforcement materials for highly accurate parts.
“For many years Formula has marketed and sold a diverse product line-up,” Scott continues. “Today we sell extremely versatile boats for lake and offshore use from 24 feet to 35 feet in length. Most are bowrider designs with a couple of closed bow designs, however we also build larger Coupe style boats, ranging from 38 feet to 50 feet, that maximize cockpit seating with enclosed mid cockpits and sleeping accommodations. We also offer two sizes of Center Console fish and sport style boats.”
Additional to its ever-expansive portfolio, Formula enhances the customer experience further with its extensive customization capabilities. As well as its pre-existing lineup, the company also offers a bespoke design and build service to help its customers bring their visions to life.
“Formula is a semi-custom builder, and our ‘Flex’ and ‘Flex My Way’ programs offer unlimited paint colors and many designs to choose from,” Scott details. “In the cockpit and cabin areas, a client can choose from a tremendous offering of vinyl and fabrics to create the boat of their dreams.”
This high level of custom manufacturing and dedication to quality drives Formula’s commitment to choosing the best vendors to supply its parts and components. The company produces several in-house parts whilst sourcing others from trusted suppliers.
“Due to our semi-custom Flex and Flex My-Way options and the need for impeccable quality, we make our own cabinetry, cabin upholstery and cockpit upholstery,” Scott explains. “Porter Inc also owns a wire harness company in Decatur that supplies all 12V harnesses on a just-in-time basis. For other components, we seek out the best possible vendors to help us deliver an outstanding finished product. Our boat engines are supplied by Mercury Marine in Wisconsin and Ilmor Engineering in Michigan, and we also contract other outside vendors to deliver multi-axis routed tooling components.”
These partnerships are key to Formula’s growth and innovation, leading to exciting new projects that are pivotal to the evolution of the business, such as the development of its Flagship 500 SSC model.
“One strategic partnership for Formula was the development of our Flagship 500 SSC model that was developed to utilize four Mercury Marine V-12 600 HP engines,” Scott shares. “Much of Formula’s development work was completed during the pandemic, and the flagship was soon launched at Mercury’s Lake X secret testing center. The 500 SSC was an instant hit.”
As well as an impressive inventory of products, Formula aims to fully encapsulate the joys of the boating lifestyle. The company’s catchphrase – ‘Living on a boat’ – highlights its enthusiasm for boating in all forms and represents its dedication to accommodating all its customers’ needs.
In line with that ethos, Formula is also planning to increase its presence by participating in fishing and boating tournaments across the East Coast, whilst its ‘Poker Run’ events help to promote its vast selection of Center Console models and SSCs.
Expansion in all areas is also on the horizon for the future of Formula. “As we approach the end of 2024, Formula is heavily focused on expanding our sales and service network,” Scott elaborates. “In five years, the third generation of the Porter family will be advancing and leading the company into the future. We will also have four to five new models in our line-up to enhance our product range. We will continue to develop our factory sales locations in strategic sites on the East Coast.” 
Having been founded over 65 years ago, we asked Scott what factors have contributed to the longevity and continuing success of the business, and his response was simple: “Beautifully designed boats, solid engineering, highest build quality possible, company integrity throughout the entire company and the sales process, and outstanding post-sale service supplied through an extensive network of authorized service centers.”
As the business continues to grow, it’s clear to see that these values are fully embedded within the beating heart of the company – its valuable team. Scott is passionate about driving both the business and his team forward, upholding the utmost respect for his colleagues and clients alike.
“The Porter Family has always focused on treating all Formula stakeholders with the greatest of respect and brotherly love,” Scott says. “We respect everyone we deal with and love that we get to deliver the highest quality boats possible to our clients. We offer opportunities to our team members, plus partner opportunities to our valued vendors. This all began with the leadership and guidance of the late Victor B. Porter, our father, and late CEO and Chairman, and will carry on into future generations of Porter Family leadership.”
To conclude, Scott is keen to spread the word about his company and impress more clients with the ‘Formula Difference’: “I would like to personally invite people to visit our website at www.formulaboats.com for more information on Formula and to contact us for a personal tour of our state-of-the-art facility and meet our amazingly dedicated Formula team.”