From selling lemonade on the street to steering a thriving powersports empire, Sid Mathis's entrepreneurial journey is a testament to resilience, resourcefulness, and a knack for problem-solving. It all started in middle school for Sid, who, driven by a desire for financial independence, was always on the lookout for ways to earn his own money.
"I was never the one to ask for handouts," Sid recalls, crediting his parents for instilling a strong work ethic.
He hustled, selling snacks at school and mowing lawns, before landing his first "real" job at a movie theater in high school.
The Leap from Employee to Entrepreneur
While working at the movie theater, Sid quickly realized that working for someone else wasn't his long-term calling. A brief stint at the University of Arizona's business school confirmed this, and he soon returned to Florida to start a pressure-washing business. This venture, however, was cut short by a motocross injury that left him with a broken collarbone.
Undaunted, a 20-year-old Sid, recovering from surgery and with no income, saw an opportunity in his friends' playful term for their ATVs: "Hondaboats." He decided to build a social media following around this concept, aiming to establish trust with potential customers before selling any products. This strategic move paid off. After building a loyal following, he began selling stickers and shirts through eBay, using his social media to drive traffic.
Innovating Beyond Inventory
Sid's early strategy hit a snag when he realized many smaller companies couldn't afford to give him free products for promotion, and he couldn't afford to buy them. Undeterred, he saved up to purchase products from these companies, selling them when the original manufacturers ran out of stock. This unconventional approach quickly turned him into a go-to source for customers seeking hard-to-find parts. As demand soared, Sid took the bold step of finding a local manufacturer to produce parts directly for his customers, signaling a shift towards greater control over his supply chain.
The Birth of Vessel Powersports
The "Hondaboats" name, while popular, eventually led to a cease-and-desist order from Honda. This setback, however, proved to be a pivotal moment. In November 2022, Sid rebranded his company as Vessel Powersports, moving into a 10,000-square-foot warehouse and bringing all manufacturing in-house. Today, Vessel Powersports strives to outperform other aftermarket ATV and side-by-side (SXS) parts companies, continually designing new products and traveling across the country to expand their reach.
Strategic Partnerships and Future Growth
Sid credits vital support from Wells Fargo and the Florida SBDC at UWF, particularly John Emsing, for providing crucial guidance.
"I really think I wouldn't be in this situation if it weren't for John and the SBDC," Sid shares, highlighting how their expertise in systems and strategies saved him years of trial and error.
Sid's journey is a powerful reminder that entrepreneurship is a "long game" filled with challenges that foster learning and innovation. He advises aspiring entrepreneurs to keep a notebook and document their struggles and triumphs.
"You never know what the next day will hold," Sid reflects, emphasizing the constant problem-solving inherent in his field.
Through sheer determination and a willingness to "stay deep" in the world of powersports, Sid Mathis has transformed a childhood desire to make money into a thriving business, proving that even southern mud and water can be navigable paths to success.
