Boat & Motor Dealer / Marina Dock Age, December 2003

Bucking the Trend Toward Bigger Boats
by Dennis P. Kissman

Every time you pick up a trade publication or attend a marina industry function, there is something mentioned about boats becoming larger. The general media has picked up on the expanding mega-yacht market and put an especially heavy emphasis on this small segment. If your marina is on a lake in Minnesota and you take all this rhetoric to heart, you may be assuming that it’s time to count the days before you will have to go out of business, because you won’t be able to accommodate all these big boats.  

Everything that is being said is backed up by industry statistics, but one important fact gets left out: Since the advent of fiberglass, boats do not disappear as quickly. What is the significance for the marina owner who, only 10 years ago, could accommodate every boat in the market? It means there is still a healthy supply of customers to fill your marina. The customers’ names may change, but the boats will still be around.  

What I see happening at many of these older marinas is that the owners get caught up in the media and industry hype and eventually give up. Once this happens, the marina falls into serious disrepair and it’s just a matter of time before it will have little or no value.

One of the biggest mistakes marina owners make is equating older boats to less desirable customers. You know that old saying, “Don’t judge a book by its cover”? Well, the same holds true for a boat owner; don’t judge him by the age of his boat. Boat owners desire a particular boat for any number of reasons, and most of the time, they have nothing to do with money.

Electrical upgrades

The question is, how to make the best out of what you have. First, make a good assessment of your marina’s physical assets, e.g. slips, utilities, amenities, etc. If your marina is in good repair, can it accommodate the same types of boats for which it was designed? This is particularly relevant if your market involves boats in the 35- to 45-foot range. Many older boats of this size have upgraded their electrical systems. Ten years ago, these boats required a 30amp electrical service, while today they may require a single- or dual-fifty-amp service. The cost to upgrade your electrical system is not necessarily the cheapest improvement you can make, but compared with trying to replace your marina, it is minimal.   Continue »