Marina Dock Age, April 2008

Researching options prior to construction will save money and headaches
by Dennis P. Kissman

During the past 20+ years of working in this industry, I have seen some very interesting people pass through it. Some stay involved longer than others, but very few are dedicated enough to take the time to understand what the marina business is all about and make a contribution toward the future of this industry.

Those marina owners that have dedicated themselves to this industry understand the work it takes to have a successful marina operation. It is the hard work of these individuals that makes it look easy to those on the outside looking in.

These people on the outside have not taken the time to understand what it takes to buy, build, or expand a marina property before they jump in. These people will always be around because of the allure of marinas and nothing will change that. Yet, there are some existing marina owners that fall into this category as well. What I am saying is that there are some marina owners out there that are trying to expand or change their marinas at the cost of their existing customer base only to realize, often too late, that the information they relied on to make their decision did not apply to their circumstances.

Real world examples
The buzz around the industry for the last few years is the increase in the megayacht market. Recently, one of the most widely quoted statistics is from the 2007 Order Book published by Showboats Magazine stating that there is a 15.3 percent increase in megayacht construction over the prior year, the fastest growing segment of the industry.

A megayacht is defined as any yacht 80 feet and longer. This sounds impressive and everyone wants to chase this market and build or reconfigure their marina to accommodate these megayachts often at the expense of smaller slips. When actual numbers of megayachts being built is applied to this percentage, it equates to 103 new megayachts on order to be introduced into the world’s megayacht market in the next few years. If one subtracts from this number the yachts owned by foreign individuals who would never come to the United States for one reason or another, this number is probably reduced by at least 50 percent.   Continue »

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