Chicago Yacht Works

What Chicago Yacht Works does

Chicago Yacht Works (CYW) is a privately held, full-service marine business headquartered in Chicago, Illinois, founded in 2001 and operating with 11-50 employees across sales, service, storage, education, and rentals. The company serves both first-time and experienced recreational boaters in the Midwest, anchored by the home of the Midwest Formula Factory Showroom (Formula Boats and Zar Formenti product lines with factory-direct pricing and Formula Flex customization) and a comprehensive service operation certified by Mercury Marine and Volvo Penta, with factory-trained technicians, OEM tools, and dockside mobile service capability. CYW also operates nearly 300,000 square feet of indoor and outdoor heated and cold storage at the Ashland Avenue facility, which is being closed and relocated to a larger Calumet site (former Sunset Bay Marina) in Summer 2025.

The company runs two non-dealership subsidiaries: Chicago Yacht Academy (CYA), founded in 2015 and the sole US Powerboating and IYT accredited boating school in the Chicago area (one of only four nationally), offering certifications from Safe Powerboat Handling ($500) through Coastal Cruising and Night Navigation ($850-$1,000); and Chicago Marine Rentals, which rents Zar 53 and Zar 49 SL boats by hour, half-day, full-day, or weekend. Additional services include winterization, bottom paint, captain delivery, parts, financing, and a trade-in/brokerage program.

Revenue is generated through five distinct streams: one-time new and pre-owned boat sales (Formula and Zar inventory plus brokerage), recurring managed storage services (quote-based indoor/outdoor), professional services revenue from certified engine and mechanical maintenance, tuition from boating education courses, and transaction-fee rentals. Go-to-market combines enterprise field sales (factory-direct showroom, private showings at the Chicago and Miami boat shows), event-driven acquisition (annual open houses, community events such as Hustle Chicago), and content marketing (blog, monthly newsletter, Facebook/Instagram). Customer concentration is low across the recreational consumer base, with no disclosed enterprise accounts, and supply concentration is anchored on a core OEM partnership with Formula Boats.

Name

Chicago Yacht Works

Legal name

Chicago Yacht Works

Website

https://chicagoyachtworks.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Chicago Yacht Works is a privately held, full-service Chicago marine business (founded 2001) serving Midwest recreational boaters with Formula and Zar boat sales, OEM-certified Mercury/Volvo service, indoor storage, US Powerboating-accredited Chicago Yacht Academy education, and Zar boat rentals.

Ownership category

akta.pro rank

Product category

Marine Dealership & Boating Services

NAICS

Boat Dealers (441222), Marinas (713930), Ship Building and Repairing (336611)

SIC

Ship & Boat Building & Repairing (3730), Services-Miscellaneous Equipment Rental & Leasing (7350)

akta.pro primary industry

Luxury Yacht Tenders & Support Craft Manufacturing (IMAJAMAK)

akta.pro secondary industry

Semi-Custom & Series Production Yacht Manufacturing (IMAJAEAM)

Keywords

• Marine dealership services
• Boat storage facilities
• Boat maintenance service
• Boating education programs
• Boat rental services

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain, Others

Revenue model

1. New and Pre-Owned Boat Sales: One of the Midwest's largest brokers; home of the Formula Factory Showroom; sells new Formula boats and Zar Formenti boats on factory-direct pricing model; also handles used boat brokerage and trade-ins
2. Boat Service & Maintenance: Certified technicians for engine/mechanical, outdrive service, fiberglass, detailing, bottom paint, winterization, dockside service; authorized Mercury Marine and Volvo Penta dealer/service center
3. Indoor/Outdoor Boat Storage: Premiere boat storage facility in Chicago offering heated indoor and outdoor storage; cold storage building (Building 5); haul-out, launch, and winterization services; approximately 300,000 sq ft of inside storage at Ashland facility being removed upon relocation
4. Boating Education & Certifications: Chicago Yacht Academy (CYA) offers US Powerboating and IYT accredited courses ranging from Safe Powerboat Handling ($500) to Coastal Cruising ($850-$1,000), Marine Radio Operations ($75), and private lessons
5. Boat Rentals: Chicago Marine Rentals division (a division of CYW) offers Zar 53 and Zar 49 SL boats for hourly, half-day, full-day, and weekend rentals

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Chicago Yacht Works is a full-service Chicago boat dealership and marina providing new and pre-owned boat sales (Formula and Zar Formenti brands), certified engine and mechanical service (Mercury Marine and Volvo Penta), indoor/outdoor boat storage, boating education through Chicago Yacht Academy (US Powerboating and IYT accredited), and boat rentals through its Chicago Marine Rentals division. The company also offers dockside service, winterization, captain delivery, bottom paint, parts, trade-ins, and financing.

Product overview

Chicago Yacht Works is a full-service yacht company operating as a unified platform offering boat sales, storage, service, and education. The core offerings include the Formula Factory Showroom (new/pre-owned Formula and Zar boats with customization), comprehensive boat storage (indoor/heated and outdoor with nearly 300,000 sq ft), certified mechanical service (Mercury/Volvo Penta), Chicago Yacht Academy (US Powerboating/IYT accredited education), and Chicago Marine Rentals (Zar-Formenti rental boats). Additional services span dockside mobile repair, winterization, captain delivery, bottom paint, parts sales, trade-ins, and financing. The company positions itself as a one-stop-shop for all boating needs in the Chicago area.

Differentiator

Problem solved

Functional benefit

Brands

• Chicago Yacht Academy (CYA): US Powerboating and IYT accredited boating education school offering courses including Safe Powerboat Handling, Basic Powerboat Cruising, Marine Radio Operations, Coastal Cruising and Night Navigation, Locks & River Passage Making, and Play Pen Anchoring. Founded in 2015.
• Formula Factory Showroom
• Chicago Marine Rentals

Products and services

• Formula Factory Showroom (New & Pre-Owned Boat Sales) Home of the Midwest Formula Factory Showroom offering new Formula boats and Zar Formenti boats at factory-direct pricing, plus pre-owned brokerage and trade-ins. Formula Flex customization available for graphics, upholstery, and electronics. Serves individual boat buyers in the Midwest.
• Boat Storage Premiere boat storage facility in Chicago offering heated indoor storage, outdoor storage, and cold storage (Building 5); haul-out, launch, and winterization services available. Approximately 300,000 sq ft of inside storage capacity at the new Calumet facility.
• Certified Engine & Mechanical Boat Service Certified Mercury Marine and Volvo Penta service center staffed with factory-trained technicians using OEM tools, service manuals, and parts catalogs. Provides engine, mechanical, outdrive, fiberglass, detailing, bottom paint, and winterization service for individual boat owners.
• Chicago Yacht Academy (Boating Education) US Powerboating and IYT accredited boating education school offering certification courses including Safe Powerboat Handling, Basic Powerboat Cruising, Coastal Cruising & Night Navigation, Marine Radio Operations, Locks & River Passage Making, and Play Pen Anchoring. Serves new and experienced boaters.
• Chicago Marine Rentals Boat rental division of Chicago Yacht Works offering Zar-Formenti boats including the Zar 53 and Zar 49 SL for hourly, half-day, full-day, and weekend rentals on Chicago waters. Serves individual consumers and tourists.
• Dockside Mobile Boat Service Mobile service that dispatches certified technicians to boats docked in Chicago harbors for repairs and maintenance without requiring the boat to be transported to the CYW facility.
• Captain Delivery Service USCG licensed captains who pick up boats at harbors and deliver them to Chicago Yacht Works storage facilities for individual boat owners needing transport assistance.
• Boat Parts & Accessories Authorized Mercury Marine and Volvo Penta dealer with access to OEM parts catalogs and Formula Factory parts for current boat owners.

Quantifiable outcome

• 15 new Formula boats sold and 20+ Formula vessels placed in Chicago harbor in 2018 alone
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Formula BoatscoreOEM/ Whitelabel/ Licensing PartnerCYW is the home of the Midwest Formula Factory Showroom, representing Formula Boats with factory-direct pricing for customers. Offers Formula Flex customization allowing buyers to customize graphics, upholstery, and electronics. Exclusive or primary Formula dealer for the Midwest/Great Lakes region.
• Zar Formenti (Zar-Formenti boats)coreOEM/ Whitelabel/ Licensing PartnerCYW sells and rents Zar-Formenti inflatable boats (Zar 49 SL, Zar 53, Zar 65, Zar 95 SL). Represents Zar at boat shows and in their showroom. Chicago Marine Rentals (CYW division) operates the rental fleet of Zar boats.
• Mercury MarinecoreTechnology or IntegrationCYW is an authorized Mercury Marine dealer and service center. Technicians are Mercury Marine certified with OEM tools, service manuals, parts catalogs, and direct factory technical support. Handles warranty claims and service bulletins for Mercury products.
• Volvo PentacoreTechnology or IntegrationCYW is an authorized Volvo Penta dealer and service center. Technicians are Volvo Penta certified with OEM tools, service manuals, parts catalogs, and direct factory technical support. Seamlessly handles warranty claims and service bulletins for Volvo Penta products.
• SeaKeeperminorChannel Partner/ Reseller/ DistributorCYW is an Official SeaKeeper Ride Dealer, selling and installing SeaKeeper marine stabilization systems on boats they service and sell.
• Wilderness Medicine Institute (WMI) / NOLSminorStrategic or Co-development PartnerCYA (Chicago Yacht Academy) partners with the Wilderness Medicine Institute (WMI/NOLS) to deliver the Off-Shore First Aid certification course, which teaches wilderness first aid training applicable to boating and outdoor recreation emergencies.
• Respiratory Health AssociationminorOthersCYW participates annually in the Hustle Up The Hancock fundraiser, climbing 94 flights of stairs (1,632 steps) at 875 N. Michigan Avenue to raise money for lung disease research and community health programs supported by the Respiratory Health Association.
• Habitat for HumanityminorOthersCYW supports Habitat for Humanity as part of its charitable giving and community outreach program.
• Greater Chicago Food DepositoryminorOthersCYW supports the Greater Chicago Food Depository as part of its charitable giving and community outreach program.
• The Taco GuysminorOthersFood vendor that provides catering at CYW events including the annual Spring Fling and Open House events.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• West Marine: National marine parts, accessories, and apparel retailer with growing service offerings. Comparable as an adjacent incumbent in the marine parts/accessories category that overlaps with CYW's parts and accessories line.
• OneWater Marine: Public multi-brand boat retailer with service, storage, and parts operations across the U.S. Comparable to CYW as a multi-brand, multi-segment dealer with consolidated platform offerings.
• BoatU.S. (Geico Marine/BoatUS): Largest U.S. boating services organization offering insurance, towing, and member services. Comparable as an ecosystem/operator adjacent to CYW's education and service offerings, though not a direct dealer.
• MarineMax: Largest U.S. recreational boat and yacht retailer with full-service operations (sales, service, storage, finance) and a similar one-stop-shop model. While much larger and nationally scaled, MarineMax is the closest publicly comparable analog to CYW's vertically integrated dealership model.

Direct peers

• SkipperBud's: Midwest-based full-service boat dealer with multiple locations, in-house service, storage, and parts. Direct regional peer to CYW given overlapping Midwest geography and similar integrated dealership offering.
• Pier 33 Marina: Michigan-based full-service marina offering new/used boat sales, service, storage, fuel, and a marina club. Comparable regional full-service competitor serving the Great Lakes boating market.
• Jefferson Beach Yacht Sales: Great Lakes / Midwest boat dealer representing multiple premium brands (including Formula Boats) with sales, service, and storage. Highly comparable as a Formula-aligned, Midwest-focused multi-brand dealer.
• Annapolis Yacht Sales: Multi-brand new and brokerage boat dealer with in-house service, storage, and marina facilities on the Chesapeake Bay. Comparable as a full-service, multi-brand dealership with similar operational structure to CYW.
• Galati Yacht Sales: Multi-brand yacht brokerage and new-boat dealer with in-house service, marina, and storage operations on the Gulf Coast. Closely comparable to CYW's premium multi-brand, full-service dealership model.

Regional players

• Lakeside Marine (Waukegan/Illinois): Illinois-area boat dealer and service operation. Comparable as a regional player competing in the same Chicago-area market for boat sales, service, and storage.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/chicagoyachtyard
• Instagraminstagram.com/chicagoyachtworks
• LinkedInlinkedin.com/company/chicago-yacht-works

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chicago Yacht Works