As the bowrider gently scrunches ashore in the shadow of the 96-foot-tall obelisk, the first member of the landing party opens the hatch at the bow and flips down the four-step stainless-steel boarding ladder before making a "dry shoe" landing onto the two-acre island in Biscayne Bay, Miami. Standing sentinel over the ivory tower, built in 1939 as a memorial to Henry Flagler - known as the father of Miami - are four Italian statues that represent industry, engineering, pioneering, and prosperity. Pretty apropos, considering the boat they're on is built by Formula, a company that can be well described by these virtues. The company even has a new monument of its own: the 240 BR, the newest and smallest member of its lineup.

Although some have labeled the 240 as an entry-level boat, it's anything but a beginner's boat. And rather than just being a scaled-down version of the 260 and 280, the youngest sibling of the family has a number of innovative features that will likely have a big brother and sister emulating it in the next year or so.

Boarding the 24-foot bowrider via the nicely integrated swim platform, it's clear the priorities are straight when your eyes are drawn to the rearward-facing reclining couch where you would normally see a garden variety stern sunpad. For those who want to go fully horizontal, the backrest folds down, courtesy of a locking pin mechanism that looks like a ball plunger on a pinball machine. Just to the left of the sunpad is a flip-up "trunk" for storage of items like ski vests, lines, and fenders.

Entering the cockpit via the open walkthrough leads you straight to the wet bar, located right behind the captain's seat, which has a Corian top, stainless-steel sink, spigot, storage below and a built-in trashcan. The main seating in the cockpit is an L-lounge that curves to extend from the cockpit entrance to the bucket seat on the starboard side with comfortable seating for four adults. When the sunpad is deployed into full layout mode, it utilizes the stern bench seat's backrest and eats up some interior space, but there's still plenty of room to go "walkabout." As usual, Formula makes use of every available nook and cranny for storage. Under the bowrider seats and stern bench you have flip-up seat bottoms that hinge toward the centerline - with the exception of the starboard-side cockpit lounge storage area where you'll find a concealed Igloo cooler to help take care of your refreshment needs. And with 13 polished stainless-steel cupholders, there's always a nearby place to park your beverage.

Sliding into the helm bucket and turning the ignition fires up the MerCruiser 6.2 MPI that puts 320 hp to the twin prop Bravo III outdrive. The standard package has a small Ritchie compass mounted in-dash - like the digital depth finder - and there's even a carbon monoxide detector for your safety. But the pièce de résistance is the jammin' four-speaker Clarion Xtreme CD stereo that's Sirius-ready and includes a six-month free subscription to the digital, commercial-free satellite radio network. There's nothing to dislike about the helm setup: first-rate adjustable bucket seats with a firm, flip-up bolster, and Dino tilt steering.

The twin consoles on this boat are extra-large, which gives you plenty of room for a starboard-side head compartment and changing room. This consumes some space up front, but the bowrider seats still have a generous amount of legroom when reclining and have plenty of backrest angle for lounging comfort.

The wind is howling today, and as the crew shoves off from the dock in Miami, they contemplate their next move. The original plan is to head to Boca Chita, an island that's part of the Biscayne National Park, but as they head out into the open water chop they reduce the throttle to idle and reassess the situation. With 20 degrees of deadrise, the 240 BR handles the two- to three-foot chop in Biscayne Bay well, but in these conditions, they're facing an hour-long trip out, and who knows what the seas will be like for the return voyage, so Plan "A" is history. But the beauty of Miami is that there are plenty of alternatives, and one of them leads to Flagler Memorial Island.

Adjacent to the island is a protected stretch of water that's popular with the skiing crowd, so it's time to have a little fun and see what she'll do. Despite having a deep-V hull, the MerCruiser 6.2 MPI gets the 240 on plane in less than six seconds and reaches 30 mph in under eight. Formula has done a good job of dampening the sound levels, and at idle the decibel meter registers just 60 decibels; at a 30-mph cruise speed, it's only 80 decibels, which means your guests won't be hoarse from shouting at each other all day. Top speed is just a smidge less than 50 mph, which is pretty impressive, considering the solidly built hull with an 8-foot 6-inch beam has a dry weight of around 5,000 pounds - give or take a well-fed writer or so. As you would expect from Formula, the 240 is easy to drive at all speeds and handles great with nimble cornering and excellent predictability. Those looking to exude some of Formula's performance boat mystique can opt for the Captain's Call through-hull exhaust system, which also has a marina-friendly quiet setting. And for maximum performance, you can bump up the horsepower to 375 with either the MerCruiser 496 MAG or Volvo Penta's 8.1L Gi.

Formula makes it easy to customize the 240 for skiing with options like the industrial-strength ski pylon or eye-grabbing stainless-steel wakeboard tower. There's plenty of room for skis in the centerline in-floor locker, and afterwards, you can rinse off with an optional shower. Hardcore wakeboarders might find the wake a little too washed out for really high-flying stunts, unless you invite all your friends to sit in the stern to help plow up a larger wake, but for other types of skiing, it should be fine.

As you might imagine, life at the top doesn't come cheap, and the Formula 240 BR is no exception. The base price with a 270-hp, 5.0L Volvo Penta will run you $72,900 without any options. True, you do get a lot of standard features, but as long as you're investing this kind of money, it would behoove you to option it correctly. First off, you'll need at least 320 hp to power this boat properly, which means your real base price with the MerCruiser 6.2L MPI is $80,000. Bumping the 240 from here to the maximum 375 hp will run you between $3,440 and $6,160, depending on the configuration you choose. One must-have option is the top-of-the-line Flagship Imron Elite metallic paint scheme ($2,625, shown here) which really boosts this boat to its potential on the attractiveness scale. When you're done loading this boat with goodies, don't be surprised if you're close to six figures. Obviously, this isn't a boat for everyone, but for someone seeking a no-compromise boat that's as beautiful as it is functional, this new and improved Formula is just what the doctor ordered.

The Verdict

This attractive and classy bowrider has plenty of hull to take on moderately tough open-water conditions and handles a number of duties with aplomb. The smallest member of Formula's lineup, it boasts several innovative features. Fully loaded sticker price isn't for the faint of wallet, although Formula frequently offers attractive financing programs.

Formula 240 BR

LOA 24'
Beam 8'6"
Weight 5,000 lbs.
Fuel 60 gal.
Top Speed 48.6 mph
(w/320-hp, 6.2L Mercruiser MPI)
Time To Plane 5.7 seconds
0-30 mph 7.9 seconds
Decibels @ Idle 60 dB-A
Decibels @ 30 mph 80 dB-A
Decibels @ WOT 94 dB-A
Base Price $72,900
(w/270-hp, 5.0L Volvo Penta Gxi)
Price As Tested $83,115
(w/320-hp, 6.2L Mercruiser MPI)
Hull Warranty 10 Years
NMMA Certified? Yes

Formula Boats
2200 W. Monroe St.
P.O. Box 1003
Decatur, IN 46733
(260) 724-9111
www.formulaboats.com